...The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself (Ducker). Though a simple statement, as the world economy grow and consumers change this gets increasingly difficult. Globalization has caused marketers to research different countries, creeds, and cultures to make unique marketing strategies. Globalization isn’t the future of our economy, it’s the now. Advances in technology have made the world a much smaller place. With access to new markets many companies are venturing into uncharted territory in search for profit. Though its sounds great there are many precautions to take before a company finds a new market. There are barriers to entry: most common among many are tariffs, quotas, and sociocultural variances. Tariffs are taxes put on imports from other countries. The effect of a tariff is to raise the price of the imported product; it makes imported goods more expensive so that people are more likely to purchase domestic products. Quotas are limits on the amount of goods that can be imported. Putting a quota on a good creates a shortage, which causes the price of the good to rise and make the imported goods less attractive for buyers. This encourages people to buy domestic products, rather than foreign goods. Sociocultural differences in religious beliefs or practices, basic cultural assumptions and/or patterned behavior, language, idiom, body language and assumptions about social strata are all among potential...
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...Assignment 1: Corporate Responsibility and Marketing Strategies NIKE INC The rivalry in the sportswear industry is as intense as it has ever been. According to Forbes, the global sports apparel market will grow at an estimated CAGR of 4% from 2012-2019. Some of the key players Nike, Adidas, Puma and Rebook are now competing with rapidly growing competitors Under Armour and Lululemon Athletica. In such a saturated domestic market, major players like Nike will have to set itself apart by focusing more on Image and Global strategies vs. product line. Company Overview Mission Statement: “To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.” - Bill Bowerman (co-founder of Nike) Nike Inc designs, develops, markets and sells high quality footwear, apparel, and equipment, accessories and services. Their product lines range between seven key categories: running, basketball, football, men’s training, women’s training, Nike Sportswear, and action sports. They are the leader in the industry, producing 25.3 billion in 2013 fiscal revenues. Nike is about recognizing sustainability as a route to future probability. Ethical and Social Responsibilities With the growing competition and product line equal, consumer perceptions of Nike will play a critical role in building the brand and competitive advantage. Improving image with respect too Ethical and...
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...UBTI2013 GLOBAL MARKETING Bachelor of Marketing (Hons) Bachelor of Business Administration (Hons) Bachelor of International Business (Hons) Bachelor of Business Administration (Hons) Entrepreneurship Year One Year Two 201401 3 credit hours 2 hours lecture per week for the duration of 14 weeks. 1.5 hours tutorial per week for the duration of 14 weeks 7 Lecturer and Tutor: Lecturer / Tutor Mr. Neerjang Lama (Faculty of Business & Finance) neerjang@utar.edu.my Dr Falahat Nejadmahani Mohammad (Faculty of Accountancy & Management) falahat@utar.edu.my 3 Year of Study: 4 5 6 Year and Trimester: Credit Hour Lecture hours & tutorial hours 8 9 Mode of Delivery: Moderator Lecture & Tutorial Dr Gengeswari a/p Krishnapillai - Assistant Professor gengeswarik@utar.edu.my 10 Objective: The objectives of this unit are: To provide a theoretical framework for analyzing global marketing strategies and orientations. To examine the relationship between global marketing environments and global marketing strategies. To examine the concept of global marketing research and its impact to the global marketing. To import the knowledge of various entry modes into a foreign market place. To highlight various marketing mix strategies applicable to global marketing. 11 Learning Outcome: On completion of this unit, a student shall be able to: Identify different levels of global marketing orientation and its respective implications in the global marketing practices...
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...1. In this course we have discussed the factors that have lead to the growth of the global economy and therefore the rise in global marketing. Discuss drivers and how they have assisted the development of the global wine market. How do the macro environments (political, legal/regulatory, cultural, and economic) influence the ability of the wine industry to grow within a given country? . There have been many factors that have led to the growth in the global economy. Some drivers that have been discussed in this course so far are: peace following WWII, the global support of GATT & the WTO, along with major improvements in information technologies and communications. But as the world revolutionized so did world trade and the global wine industry. Innovations where born, and communication between countries became easier which streamlined the distribution process a global market for the wine industry began. The demand for wine also increased worldwide as World War II came to a close. We learned in Chapter 1 that global commerce thrives during times of peace. An increase in the demand for wine during the postwar era coupled with new innovations that enabled wine to travel further distance without going bad, allowed “New World” producers to step up and compete with “Old World” traditional wine makers. This in turn caused new regulations and “standards” (of which we learned about in chapter 2) in order to protect their own domestic wine industry. ...
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...Global market Cultural ignorance could hinder a company from global marketing. One of the best ways to target the foreign market is to create products in the country that are based on the needs of the local customers. The marketers that create local product development are called polycentric. A polycentric marketer understands that each country has different needs and they must market to the country differently than they would in their country. The world is one big market for companies to take advantage of. There must be marketers in each country that will help the company meet the needs and expectations of all the countries in which they sell their products. A good example of a successful global marketing company is the Coca-Cola Corporation. The soda beverage remains the same, but the can changes. The advertisements are different in each country. Instead of being intolerant to the needs of each country, they have translated their logo and brand name to suit the needs of each country in which they market. The goal of global marketing is to become like the Coca-Cola Corporation and sell the same product to everyone in the world, with perhaps just one or two small changes to the product that will suit the needs of everyone in the world. There are 4 simple steps a company must establish to start global marketing. First, a company needs to achieve domestic dominance. If a company is trusted at home, it is easier to integrate their focus into the global market. A company...
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...A Report on Women Cosmetics Products in Marketing A report submitted to the Department of Marketing, AIUB, in part-fulfillment of the requirements of the final examination in Global Marketing, Spring semester 2012 Prepared & submitted by (Section B) Kundu Linkon Course teacher: Mr. Zaman Department of Marketing Business Administration Discipline American International University-Bangladesh Date of submission 07 May 2012 American International University-Bangladesh (AIUB) May 07, 2012 Mr. Zaman Rah man Course Instructor Global Marketing American International University-Bangladesh (AIUB) Subject: Submission of a report Dear Sir: With due regards and respect I state that I am very thankful to you as you assigned me this report on ‘‘Women Cosmetics Products in Marketing” It is a great opportunity for me to acquire theoretical and practical knowledge about the entire marketing aspects regarding women cosmetics products. I have tried out best to gather what I believe to be the most complete information available. Your kind acceptance and any type of appreciation would surely inspire me. I would always be available and ready to explain further any of the context of the whenever asked. Yours sincerely, ………………………………………….. Kundu Linkon Id: 09-15010-3 Preface In today’s world marketplace women have greater empower and they have more credibility for making a purchase decision. They are also more financially empowered than any previous...
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...U06a1 – Integrated Global Marketing Case Study The Coca-Cola Company Terry D. Copeland Capella University MBA 6012 June 28, 2013 Company Selection and Overview The Coca-Cola Company (Coca-Cola) was first established in 1886 by Dr. John Pemberton in Atlanta, Georgia. Initially distributed at Jacobs’ Pharmacy for five cents a glass, the fledgling company sold just nine glasses of Coca-Cola a day for the first year (Coca-Cola, 2013). By 1891, Atlanta businessman Asa Candler, a prolific salesman, acquired the rights to the business for $2300; and as the company’s first president, his vision to transform Coca-Cola from an invention into a national brand was set in motion. He immediately recognized the potential of the new company and began to implement the marketing strategy that propelled Coca-Cola to its current standing as the world’s leading manufacturer in the beverage industry producing over 500 brands in over 200 countries with an estimated 1.8 billion servings consumed per day all over the world (Coca-Cola, 2013). Candler initially gave away coupons for complimentary first tastes, and outfitted distributing pharmacies with clocks, urns, calendars, and apothecary scales bearing the same red and white Coca-Cola script brand that remains as the world’s number one brand to this day (Coca-Cola, 2013). People saw the Coca-Cola brand everywhere, and by 1895, Candler had built syrup plants in Chicago, Dallas...
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...Dashawn Gumbs ADV 330: Section: 731 Global Brand Face Off Purpose The purpose of this memo is to provide strategic insight on how Espoir should go about taking its new branding initiative global. As well as the follow up course of actions that need to be set in place in order for it to be a success. Background/Situation Analysis One of the many key issues underlying a successful global launch for Espoir is the mixed reactions to a global campaign. Mazur head of Eastern Europe marketing wasn’t thrilled by the idea at all, while Dubois head of Europe marketing supportive about a global launch surround the upcoming Diana’s she Devils sequel movie seeing as thought rival competitor Revlon used the same strategy in the James Bond film, Die Another Day. Lastly Narayan head of South Asia marketing was willing to give it a shot due to the growth in India that was mentioned with sightings of Espoir products in smaller retail stores. The success of a Global launch is going to heavily factored in by the commitment and willingness of the regional marketing heads if it has a chance to succeed everyone will be required to be on the same page and comply with Natasha and her team. Each region is unique in its own way. Eastern European culture is a lot different than Southern Asian culture as Mazur pointed out what works in India might not work in Eastern Europe, him being the regional marketing head there he would know what works best in said market. Cosmetic Differences will play...
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...Week One Content Outline: Fundamentals of global marketing OBJECTIVE: Identify the components of a global marketing venture. Resource: Ch. 1 of Global Marketing: Foreign Entry, Local Marketing & Global Management Content • The Global Marketing Task (in Johansson) o Going Global (pp. 5-6) o The New Global Environment (pp. 6-14) o Key Concepts (pp. 14-20) o Why Companies go Global? (pp. 20-24) o Developing Knowledge Assets (pp. 24-25) o Global Marketing Objectives (pp. 25-26) o Three Hats (pp. 26-27) OBJECTIVE: Evaluate the competitive environment using Porter’s five forces model. Resource: Ch. 2 of Global Marketing: Foreign Entry, Local Marketing & Global Management (Johansson) Content • Theoretical Foundations (in Johansson) o Country-Specific Advantages (CSAs) (pp. 33-39) o Firm-Specific Advantages (FSAs) (pp. 40-47) o FSAs, CSAs, and Regionalization (pp. 47-48) o Extending Porter’s Five Forces Model (pp. 48-51) o Rivalry Between Global Competitors (pp. 51-52) o Strategy and the Three Hats (pp. 53-54) OBJECTIVE: Explain cultural factors that impact the global marketplace. Resource: Ch. 3 of Global Marketing: Foreign Entry, Local Marketing & Global Management (Johansson) Content • Cultural Foundations (in Johansson) o The Meaning of Culture (pp. 60-64) o Cultures across Countries (pp. 65-70) o Culture and “How to Do Business” (pp. 70-72) ...
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...Global marketing The process of conceptualizing and then conveying a final product or service worldwide with the hopes of reaching the international marketing community. Proper global marketing has the ability to catapult a company to the next level, if they do it correctly. Different strategies are implemented based on the region the company is marketing to. For example, the menu at McDonald's varies based on the location of the restaurant. The company focuses on marketing popular items within the country. Global marketing is especially important to companies that provide products or services that have a universal demand such as automobiles and food. What is global marketing? In this lesson you'll learn what global marketing is, issues you would need to address to market your product globally, and strategies that can help grow your business in other countries. We also recommend watching International Marketing: The Importance of Global Marketing Strategy and Strategies for Reaching Global Markets: Examples & Quiz What is Global Marketing? Global marketing is the process of adjusting a company's marketing strategies to adapt to conditions in other countries. Global Marketing Issues and Strategies Let's pretend for a moment that you have a widget you'd like to sell in Europe, and are developing your marketing plan. Here are some strategic decisions you will need to make: Market segmentation Market segmentation is the act of defining subsets of consumers...
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...International marketing - is simply the application of marketing principles to more than one country. However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term. For the purposes of this lesson on international marketing and those that follow it, international marketing and global marketing are interchangeable. - marketing involves the firm in making one or more marketing mix decisions across national boundaries. At its most complex level, it involves the firm in establishing manufacturing facilities overseas and coordinating marketing strategies across the globe. Controllable element - it clearly defines the meaning of a business environment, which is the foundation to begin with before answering the question. it defines a business environment as " encompasses all those factors that affect a company's operations, and includes customers, competitors, stakeholders, suppliers, industry trends, regulations, other government activities, social and economic factors, and technological developments" However, the definition given is very general, it does not distinguish or point out which elements are controllable and which are not. To my own understanding, controllable elements, also known as internal elements, are those which are within the organization which are eligible to controlling the operation of an organization, which includes the management, the hierarchy of the business, the personnel, the...
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...International Marketing 320004VA016-1124-001 Abstract When your Company makes a decision to do business globally, it is a huge decision that should not be taken lightly. There are a lot of checks and balances and one of the most important items to remember: Is this Venture going to make or break my company. This should scare anyone into doing as much thorough research as possible. You want to know if your product is a fit; who is your audience and will I be successful. Research and Development is a huge upfront cost but it can pay off in the end. Some key challenges that you will be facing is your branding and packaging. Your brand says a lot about the company and it should speak for itself. The packaging shows how much you care about your product and the environment. Global marketing is all about putting the right people in place at the right time to present your brand to the target market Explain the process for market research to assess foreign market potential When you are starting a new company, logo, packaging and all the design is how you get this party started. The creative process is long and tedious. Coming up with a brand and maintaining it is a dream and a nightmare (Wainainah, 2012). The first step is coming up with something that will appeal to the client. This requires a lot of research, forecasting and an audience. This process is not for the weak-minded. Due to the stiff competition, your main goal is to strive for recognition through...
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...Starbucks – Going global fast case study Prashansa Sunuwar King’s College affiliated with Westcliff University BUS 367 The Necessities of International Marketing and Culture Dr. Thien-Huong T. Ninh March 20, 2016 Abstract This paper addresses the various factors and risks that a company has to face while going global. This report is based on the case study focused on Starbucks. It answers various questions regarding issues that an international company like Starbucks has to face. The answers incorporate the elements that are both controllable and uncontrollable when a business is going global. The sources of risks that Starbucks is facing and what can be done to eliminate the risk are provided. Also, there are few suggestions regarding what Starbucks can do to improve profitability in Japan. Starbucks – Going Global Fast Case Fifteen years ago, Starbucks had 17 coffee shops in Seattle. Now, it has 19,000 outlets in 58 countries. According to the official website of Starbucks, Starbucks serves a wide variety of hot and cold drinks including espressos, cappuccinos, and even pastries and other delectable treats. Starbucks has become a meeting place for people. People go to Starbucks to chat, meet up, and even for meetings and rejuvenation. The success of Starbucks grew after Howard Schultz purchased Starbucks on 1981 and introduced Italian coffeehouse tradition in the United States in 1983. After Starbucks went public, the sales have increased by an average of 20 percent annually...
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...Case Study Analysis PSY/322 Monday February 24, 2014 Mary-Lynne Ament Case Study Analysis Consumer behavior determines how and why a person makes a purchasing decision. Marketers try to understand this behavior so that they can adjust their marketing strategies to increase their brand loyalty and profit. There are social, cultural and psychological factors that influence these behaviors. Some social factors include lifestyle, personality, family, peers, and life roles. The psychological element includes attitude, perceptions, beliefs and motivation. Some cultural factors include basic values, ideals and behavior. When a business is going to “go global”, they need to understand their target audience and interpret their buying behavior. Apple iPhone in Japan case study In 2008, Apple released the latest version of the iPhone. The release of the iPhone did well in most places except in Japan. Apple had estimated on selling a million units there but had later changed that estimate to 500,000. There consumer behavior in Japan was much different from the behaviors of other countries. These other markets were happy to welcome the new iPhone and all of its capabilities, but the people in Japan were not impressed. In the case study of Japan to Apple’s iPhone: “No Thanks”, there was a hard lesson learned by Apple. It is fair to say that they did not do their research on Japan and the need for the iPhone. First there is cultural opposition because Japanese have high, complex...
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...Starbucks: Going Global Fast Ronnie Deaver MKG400 International and Multi-Cultural Marketing Colorado State University – Global Campus Dr. Michael E. Ricco June 19, 2016 Starbucks: Going Global Fast Starbucks is a fast growing and well known US based company focused on penetrating international markets. When entering a new market, there are always associated risks, problems, controllable/uncontrollable elements, and process optimizations. Below is a discussion on the factors contributing to Starbucks expansion into international markets such as Japan. Controllable Elements For any company expanding to a new market, there is a plethora of controllable and uncontrollable elements to consider; some new and some similar to those faced in domestic markets. Interestingly, the controllable factors that Starbucks encountered when entering the global market were similar to those faced in their domestic market; product, price, place and promotion. The Starbuck’s brand name and image connect with millions of customers globally. Starbucks can control and adjust its product to meet the cultural needs and expectations of a market; including price, availability, and their marketing strategy. Using appropriate market research, Starbucks can pre-emptively make certain that their product is the right fit for each of its international locations. According to Starbucks (n.d.), they maintain a high level of success internationally by working with international partners who understand...
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