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This chapter discusses global marketing management and planning. It covers international market entry strategies, organizing for global competition, and evaluating different strategies. The chapter presents a standardization-adaptation continuum for the 4Ps across different countries and discusses factors that influence standardizing or adapting the marketing mix. It also outlines a four phase international planning process of preliminary analysis, market segmentation, marketing plan development, and implementation. Lastly, it discusses criteria for evaluating different entry strategies such as cost, control, risk and country factors.
This chapter discusses global marketing management and planning. It covers international market entry strategies, organizing for global competition, and evaluating different strategies. The chapter presents a standardization-adaptation continuum for the 4Ps across different countries and discusses factors that influence standardizing or adapting the marketing mix. It also outlines a four phase international planning process of preliminary analysis, market segmentation, marketing plan development, and implementation. Lastly, it discusses criteria for evaluating different entry strategies such as cost, control, risk and country factors.
This chapter discusses global marketing management and planning. It covers international market entry strategies, organizing for global competition, and evaluating different strategies. The chapter presents a standardization-adaptation continuum for the 4Ps across different countries and discusses factors that influence standardizing or adapting the marketing mix. It also outlines a four phase international planning process of preliminary analysis, market segmentation, marketing plan development, and implementation. Lastly, it discusses criteria for evaluating different entry strategies such as cost, control, risk and country factors.
Planning and Organization CHAPTER OUTLINE Global marketing management Planning for global markets International market entry strategy Criteria for evaluating entry strategies Organizing for global competition STANDARDIZATION-ADAPTATION Planning involves 4 Ps Standardization Adaptation Debate and Continuum Standardization_____________________Adaptation
Product 5______4______3______2______1 Price 5______4______3______2______1 Promotion 5______4______3______2______1 Distribution 5______4______3______2______1 Planning 5______4______3______2______1
Factors favoring Standardization or Adaptation INTERNATIONAL PLANNING PROCESS Information derived from each phase, market research, and evaluation of program performance Phase 1 Preliminary analysis and screening: Matching company/country needs Phase 2 Defining market segments and adapting marketing mix Phase 3 Developing the marketing plan Phase 4 Implemen- tation and control Environmental factors, company character, and screening criteria Matching mix requirements Marketing plan development Implementation, evaluation, and control INTERNATIONAL MARKET ENTRY STRATEGY Exporting Internet Licensing Franchising Joint Ventures Consortia Direct Foreign Investment CRITERIA FOR EVALUATING ENTRY STRATEGIES Legal considerations Cost of the strategy Company experience in similar venture Competition at home and abroad Risk incurred Control Complexity of product/service Country factors: social, cultural, similarity EVALUATING ENTRY STRATEGIES Country Complexity Product Experience Competition Control Risk Cost Legal DFI Consortia Joint Ventures Franchising Licensing Internet Exporting Schematic Marketing Organization Plan Combining Product, Geographic, and Functional Approaches Company President Director: Passenger car marketing Director: Truck marketing Research Adv. Sales Adv. Sales Adv. Sales Adv. Sales Adv. Sales Adv. Sales Vice President Marketing Research Manager N. American distribution Manager African distribution Manager European distribution Manager African distribution Manager S.American distribution Manager N. American distribution Irwin/McGraw-Hill 11-11 ORGANIZATIONAL PLAN DISCUSSION QUESTIONS 1. Explain the standardization-adaptation S-A continuum. What factors favor Standardization or Adaptation? Discuss. 2. Elaborate each phase of the International Planning Process. 3. What are the criteria for evaluating entry strategies in international markets? Discuss each of them. 4. When should we opt for licensing over direct investment? Explain.