Why Planning is Important Irwin/McGraw-Hill Marketing Planning u The process of— (1) selecting a target market, and (2) developing a marketing mix to.

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Presentation transcript:

Why Planning is Important Irwin/McGraw-Hill

Marketing Planning u The process of— (1) selecting a target market, and (2) developing a marketing mix to meet the needs of that target market

Global Segmentation Variables 11-2 Others May Be More Important Country Climate Language Group Media Habits Age Income

Benefits of Marketing Globally Economies of Scale in Production & Marketing Transfer of Experience and Know-How across Countries Uniform Global Image Control and Coordination of Operations Irwin/McGraw-Hill 11-4

International Planning Process Company Character Philosophy Objectives Resources Management style Organization Financial limitations Management and marketing skills Products Other Phase 1 Preliminary Analysis and Screening: Matching Company/Country Needs Irwin/McGraw-Hill 11-6 Host Country(s) Constraints Economic Political/legal Competitive Level of technology Culture Structures of distribution Geography Competition Home Country Constraints Political Legal Economic Other

11-7 International Planning Process Phase 2 Adapting The Marketing Mix To Target Markets Product Adaptation Brand name Features Packaging Service Warranty Style Standard Price Credit Discounts Promotion Advertising Personal selling Media Message Sales promotion Distribution Logistics Channels

11-8 Phase 3 Developing the Marketing Plan International Planning Process Situation analysis Objectives and goals Strategy and tactics Budgets Action programs

Alternative Market Entry Strategies Exporting Direct-you sell directly to a customer in another country Indirect-you sell to a dealer or wholesaler that sells to a customer in another country Internet You must abide by all host country e-commerce laws. German sales promotion laws are the world’s toughest Contractual Agreements (4 Types) Licensing-you grant the right to a foreign manufacturer or distributor to legally use your patent, trademark, or process Franchising-you license a standard system of products, and processes to a buyer (franchisee) Joint Ventures- two or more companies share in the cost of a business venture Consortia – a large number of partners pool their resources to operate a venture Irwin/McGraw-Hill 11-10