Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Need to View the Globe International Business

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business International Marketing Today's Lesson

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Marketing Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. International marketing is the extension of these activities across national boundaries.

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business International Marketing as an Integrated Functional Area Operations Management Finance Human Resource Management Accounting Marketing

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Market Strategy Must Support Business Strategy Differentiation Focus Cost leadership to develop products as well as pricing, promotional, and distribution tactics based on perceived quality, fashion, reliability, or other salient characteristics, products as Rolex watches, BMW automobiles have shown systematic reductions in production and manufacturing costs, sales costs, acceptance of lower profit margins, use of less expensive materials and component parts, or other means concentrate their efforts on particular segments of the consumer market or on particular areas or regions within a market

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Elements of the Marketing Mix for International Firms

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Standardization versus Customization Ethnocentric Approach Polycentric Approach Geocentric Approach

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Standardization versus Customization Ethnocentric Approach Polycentric Approach Geocentric Approach firm simply markets its goods in international markets using the same marketing mix it uses domestically, thereby avoiding the expense, easy to adopt attempt to customize the firms marketing mix in each market the firm enters, firms that view themselves as multi-domestic adopt this approach, far more costly calls for standardization of the marketing mix, use essentially the same marketing approach to sell that product or service globally, Coca-Cola is one

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Advantage & Disadvantages Standardized International Marketing Advantages äReduces marketing costs äFacilitates centralized control of marketing äPromotes efficiency in R&D äResults in economies of scale in production äReflects the trend toward a single global marketplace Disadvantages äIgnores different conditions of product use äIgnores local legal differences äIgnores differences in buyer behavior patterns äInhibits local marketing initiatives äIgnores other differences in individual markets

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Customized International Marketing Advantages äReflects different conditions of use äAcknowledges local legal differences/ differences in buyer behavior äAccounts for other differences in individual markets Disadvantages äIncreases costs/ inefficiencies äInhibits centralized control of marketing äReduces economies of scale in production äIgnores the trend toward a single global marketplace

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Product Product comprises both the set of tangible factors that the consumer can see or touch (the physical product and its packaging) and numerous intangible factors such as image, installation, warranties, and credit terms.

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Factors Affecting the Standardization of Products Legal forces Cultural influences Economic factors Brand names

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Factors Affecting Pricing Policies Business strategy Competitive environment Costs of doing business Exchange rate fluctuations

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Pricing Policies Standard price policy Market pricing Two-tiered pricing

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Determining the Profit-Maximizing Price Demand function d(x) = -0.5 x + 50 Marginal Cost function c(x) = 1.25 x – 100 Marginal Revenue function r(x) = -2x + 60 Find profit maximizing price

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Determining the Profit-Maximizing Price

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Conditions for Market Pricing äFirm must face different demand and/or cost conditions in the countries in which it sells its products äFirm must be able to prevent arbitrage

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Risks to Market Pricing Policy Charges of dumping Development of a gray market Consumer resentment Damage to brand name

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Next Day Guest Speaker Dr Mustafizur Rahman Executive Director CPD Negotiations in WTO – Challenges for Bangladesh Important: Timely attendance, Attire & Preparedness Notice

Click to edit Master title style Bangladesh University of Professionals Mgt of Intl Business Thanks