...International Marketing Planning: Adaptation and Standardisation Professor Demetris Vrontis International Marketing Planning: Adaptation and Standardisation Professor Demetris Vrontis Dean, School of Business, University of Nicosia President, EuroMed Research Business Institute (EMRBI) Chairman, EuroMed Academy of Business (EMAB) Founding Editor, EuroMed Journal of Business (EMJB) 1 www.emrbi.com www.emeraldinsight.com/emjb.htm 2 International marketing planning (Vi.Mi.S.O.S.T.I.C.) Vi: vision - what is the desired future, principal goals and direction of our organisation? Mi: mission - what are the core corporate values? S: situation analysis - where are we now? O: objectives - where do we want to go? S: strategy - how do we get there - the broad direction? T: tactics - how do we get there - the details of strategies? I: implementation - what are the specific actions required to put the plan to work? C: control - how do we know we have arrived? 3 The screen versions of these slides have full details of copyright and acknowledgements 1 International Marketing Planning: Adaptation and Standardisation Professor Demetris Vrontis International marketing planning (Vi.Mi.S.O.S.T.I.C.) adaptation and standardisation Vi: vision Mi: mission S: situation analysis O: objectives S: strategy T: tactics (adaptation and standardisation) I: implementation C: control 4 International marketing planning International marketing planning can be defined as the...
Words: 2573 - Pages: 11
...When an organisation decides to expand its activities into regional or international markets, it have to make a decision into which strategy to implement either in standardizing or adapting the marketing mix. According to Ang and Massingham (2007) a company’s choice to standardize or to adapt its approaches is essential, since it influences the organization's approach to business and the way in which they compete. It is also important in international business since it drives the Multinational Company’s ability to reduce cost or respond to local market demands (Bartlett and Ghoshal, 1998). According to Walters (1986) standardization is the implementation of a similar or uniform marketing programme or process across national borders. The standardization strategy indicates the use of a unique market or the homogenization of international products. In few cases standardisation have a 100% uniformity as many organisations have different levels of standardisation and standardise segments of the marketing mix. Levitt (1983) states that the “Global competitor will seek constantly to standardize his offering everywhere… He will never assume that the customer is a king who knows his own wishes.” However, standardisation should not be looked at from only the point of the marketing mix but also the management of an organisation. Sorenson and Weichmann (1975) stated “the intellectual method for approaching a marketing problem, for analysing that problem, and for synthesizing information...
Words: 2002 - Pages: 9
...------------------------------------------------- MANAGING HOSPITALITY IN INTERNATIONAL CONTEXT Assessment 1 Lecturer: Dr. Michael J. Gross, BSBA, MPET, MBA, PhD Submitted By: Sarabmeet sandhu Student ID: 110165356 Lecturer: Dr. Michael J. Gross, BSBA, MPET, MBA, PhD Submitted By: Sarabmeet sandhu Student ID: 110165356 Assessment: 1 ------------------------------------------------- 3: Critically analyse the tensions and conflicts in international hospitality firms' standardisation of products and provision of consistent service quality. Hospitality firms are intensely competitive and firms tries to maintain their centre of interest on customers wants and needs to achieve their satisfaction and stand still on customer’s expectations. According to a research features of service or product are not important than the quality of service that plays a significant role for achieving higher customer satisfaction and customer loyalty (Donnelly et. al, 2006). When a customer decides to go for a lunch or dinner in a 5star hotel or a couple plans to travel and book a hotel room all they expect is quality service. There’s a level of quality in service which goes up with the grade of hotels and the expectations of customers are also attached with these standards. This image of providing low, medium and high level quality service as per customers is hospitality. There are some benchmarks for everything in hospitality industry and those are known as standardisation of products and with that comes consistent...
Words: 1536 - Pages: 7
...Standardisation vs. adaptation international marketing approach with regards to McDonald’s operations in India Introduction The central purpose of the study is to determine the best international marketing strategy for McDonalds in India and shedding light on these strategies- Standardisation or Adaptation. Background McDonald's™ is a pioneer in the foodservice industry with over 32,000 restaurants in about 130 countries. The brand is handled and overseen by two following business organisations in India: * Connaught Plaza Restaurants Private Limited, headed by Mr. Vikram Bakshi, JV Partner and Managing Director, East and North India * Hardcastle Restaurants Private Limited, headed by Ms. Smita Jatia, Managing Director (MD), West and South India McDonalds believes in Q-Quality, S-Service, C-Cleanliness and V-Value. This motto is their driving force in the Indian marketplace. For McDonalds, India was the first country wherein no-beef or pork products were served. McDonalds in India catered to wants and needs of the people, with different menus as well as food processing plants for vegetarian and non-vegetarian customers. Currently, in India there are 300 McDonalds. Discussion Standardisation approach is quite different from the adaptation international marketing approach. When the needs and wants of the target market are same, standardization strategy comes into the picture. On the other hand, if the wants and needs of the target audience are different, and also...
Words: 595 - Pages: 3
...colour in Chinese-speaking areas. Organisations also have to consider different languages, customs and health and safety regulations. Standardisation If a company offers a product, which is undifferentiated between any of the markets to which it is offered, then standardisation is taking place. The great benefit of standardisation is the ability to compete with low costs over a large output. The diagram below illustrates the use of a standardised products and marketing mix: In most markets, however, there are many barriers to standardisation. It is not difficult to think about the standard marketing mix for a product and how this might vary from one country to another. For example: product - tastes and habits differ between markets price - consumers have different incomes place - systems of distribution vary widely promotion - Consumers' media habits vary, as do language skills and levels of literacy. With differentiated marketing, on the other hand, an organisation will segment its overseas markets, and offer a marketing mix to meet the needs of each of its markets. The great benefit of standardisation is that costs are lowered, profitability is increased and the task of supplying different markets becomes substantially easier. The diagram illustrates the process of adapting the marketing mix to meet the needs of different geographical markets: However, it could also be argued that the success of many products in international markets has come about because...
Words: 564 - Pages: 3
...Definition There is significance between accounting harmonisation and accounting standardisation where harmonisation allows countries to have different accounting standards provided that they do not have logical conflict with the International Accounting Standards Board (IASB). Therefore the accounting standards in different countries are not identical but very similar from one to another which allows convergence of accounting practices. However, standardisation of accounting has the direct opposite meaning of harmonisation where the standardisation requires all accounting practices in various countries to be exactly the same. Harmonisation tends to be associated with IASB which carries out the process of coordination whereas standardisation is the process of uniformity that can be seen in the European Union (EU) where transnational legislation occurs. According to various accounting scholars, they said it is important to distinguish between harmonisation of accounting practices (de facto) and harmonisation of accounting regulations (de jure). De facto is often associates with harmonisation while de jure is associated with standardisation. Reasons for Harmonisation RELIABILITY OF FINANCIAL STATEMENTS FOR THE USERS One of the reasons that international harmonisation of accounting standards should be carried out is to ensure comparability, reliability and quality of financial reports and disclosure of foreign enterprises. This allows investors and financial analysts to understand...
Words: 1777 - Pages: 8
...Assignment 2 – Part 1 MKTG127 DEMOGRAPHIC FUNDAMENTALS A.) I.) Briefly discuss the projection methods used by each organisation. After thorough analysis of the population projections created by the Australian Intergenerational Report, the United Nations (UN), the World Bank (WB), US Census Bureau (USCB), IIASA- INTERNATIONAL INSTITUTE for Applied Systems Analysis, and the Population Reference Bureau (PRB), it is highly apparent that each organisation employs the cohort-component method in terms of the development of their population projections. This can be seen as each population projection utilises the grouping of cohorts to update the age and sex specific components of population change fertility, mortality, and migration. (Idea/concept Provided from DEMOGRAPHIC RESEARCH, VOLUME 4, ARTICLE 8, PAGES 203-288 PUBLISHED 13 JUNE 2001). However it is evident that each organisation also has subtle variations within their form of the cohort-component method in comparison to each other. These are only subtle differences such as Different age grouping. ii. Compare and contrast the main characteristics of the long term population projections produced by the UN, the WB, USCB, IIASA and PRB (mention at least two points for each organisation) It is highly clear that amongst all the population projections produced by the UN, the WB, USCB, IIASA and PRB that there are both similarities and differences, which occur in terms of the characteristics of each population projection...
Words: 1203 - Pages: 5
...International Marketing Table of Contents Introduction 3 An analysis of the macro and micro factors impacting on the sports retail market and the market recommendations 3 PEST 3 Micro factors and internal business factors 4 An evaluation of market potential, to include an identified shortlist of markets with potential 5 External Factor Analysis 6 Porter’s 5 Forces Analysis: 6 McKinsey’s 7 S Strategy: 6 Using a clear and identified screening criterion, select two recommended markets with clear justification as to why these markets have been selected 6 Recommended and justified market entry strategy to take Nike Inc. into each of these markets 8 Recommended adaptations to Nike’s marketing mix for the proposed markets, ensuring differences in culture and consumer behaviour are recognised in their marketing mix activity 9 Conclusion 11 References 12 Appendix 15 Introduction International market expansion requires thorough understanding of market and its dynamics for ensuring expected profit and performance. In context to that, the case of Nike Inc. would be analysed. The company wants to increase their brand value and sales through international expansion. Therefore, cities from two developing markets have been selected as prospective destinations. These are Panadura (Sri Lanka) and Agrinio (Greece). These cities would be analysed to check their suitability for being locations of Nike stores. An analysis of the macro and micro factors impacting...
Words: 4700 - Pages: 19
...Mid Module Assignment What is the relevance of the customisation-standardisation debate in international marketing strategy and how might this influence the market entry strategy adopted by a firm seeking to enter overseas markets? Use relevant and recent examples to illustrate your report. Your response should be in the form of a written report of between 1500 - 2000 words. Name: Jamie Allen Module: International Marketing Strategy Tutor: Paul Matthews Submission Date: 29th April 2013 Confidentiality: I have read, understand and adhere to the KOL Confidentiality Policy. Click here to access the KOL Confidentiality Policy. Academic Integrity Statement: I have read and understood the Academic Integrity guidelines for Kaplan Open Learning and the University Of Essex, and declare that this assignment conforms to all of the rules and regulations contained therein. Please note: the guidelines can be found in the Student Handbook (see section 6.4). Assignment Checklist Please make sure you have completed the below points before submitting your assignment: • Spelling and grammar check • Referencing completed • Word count fulfilled • Proof read completed • All parts of the question answered Introduction The purpose of this report is to discuss the relevance of customisation and standardisation within international marketing, and how that will have a bearing upon a market entry strategy by a firm who wishes...
Words: 2250 - Pages: 9
...| | Recent Trends in India ‘s foreign trade India's Trade PerformanceIndia’s merchandise exports reached a level of US $ 185.3 billion during 2008-09 registering a growth of 13.6 percent as compared to a growth of 29.1 percent during the previous year. Notwithstanding the deceleration of the growth in 2008-09, India’s export sector has exhibited remarkable resilience and dynamism in the recent years. Our merchandise exports recorded an Average Annual Growth Rate (AAGR) of 23.9 per cent during the five year period from 2004-05 to 2008-09, as compared to the preceding five years when the exports increased by a lower AAGR of 14.3 per cent. According to latest WTO data (2009), India’s share in the world merchandise exports increased from 0.8 per cent in 2004 to 1.1 per cent in 2008. India also improved its ranking in the leading exporters in world merchandise trade from 30th in 2004 to 27th in 2008. Box: 2.1 Export Target and Achievement during the last five years The Government had initially set an export target of US $ 200 billion for 2008-09, which was later revised downward to US $ 175 billion because of global slowdown in the second half of the year. With merchandise exports reaching US $ 185.3 billion in 2008-09, the actual exports exceeded the target by 5.9 per cent which is a remarkable achievement during a period of recession in countries of India’s major export destinations. | ExportsExports recorded high growth during the first half of 2008-09 although a...
Words: 1865 - Pages: 8
...Introduction Quality is defined as the distinction of a product or services (Evans, 2011). The American National Standard Institute (ANSI) defines quality as the totality features of a product or service which satisfy given needs. The current market has higher demand of quality products and services due to higher buying power. The increasing buying power caused consumers to be less price-sensitive and prioritizes quality. Organisations find quality to be a crucial matter in determining their success. Hence, many organisations have moved from producing low cost goods into producing quality goods to meet with the market demand. Meeting quality expectations of the guests is decent, but arguably insufficient. Exceeding it however, guarantees customer loyalty, returned business and less complains. Evan (2011) added that quality, business stability and customer’s loyalty needed to be aligned for a success business. Quality in manufacturing industry focuses on technical issues such as equipment reliability, inspections and minimal defects. On the other hand, quality in service industry focuses on the interactions between the provider and customer which do not directly produce a physical product. The service industry picks up the importance of quality later than the manufacturing industry. Evan (2011) mentioned that the 80% workforce in the United States is contributed by the service industry. Body According to Das and De Groote (2008), 75% of the one hundred biggest hotels are...
Words: 1898 - Pages: 8
...SEPTEMBER 2014 INTERNATIONAL MARKETING STRATEGY (Assignment) Instructions to candidates You are required to select an organisation that you are familiar with, either in your own country or elsewhere. The selected organisation should be one for which you can access detailed information about its international marketing activities. These can be secondary sources such as journal or magazine articles or information via the website or alternatively direct from the organisation, including company reports. You are required to produce a strategic formal report, based on your chosen organisation of 4,000 to 5,000 words. You should include theoretical perspectives to support your work, and these should be applied to your organisation. You will need to conduct a detailed research assessment of the chosen organisation with respect to its international activities in order to understand the international decisions and strategies specific to that organisation. Some International examples of organisations are provided below. Note that the choice of a specific organisation should be discussed with your lecturer/subject supervisor. The project will outline all of the firm's international activities but should focus upon a single key geographical market or region. For example, you could look at: Coca-Cola, development of the market in Africa. Danone, the French food and drinks firm, and its activities in China. L'Oreal, the French cosmetics company and its entry to Thailand. McDonalds, and its entry...
Words: 453 - Pages: 2
...Visiting Fellow Working Papers International Programs 3-1-2005 The Role of Corporate HR Funcitons in MNCs: The Interplay Between Corporate, Regional/ National and Plant Level Elaine Farndale Erasmus University Rotterdam, farndale@few.eur.nl Jaap Paauwe Erasmus University Rotterdam, paauwe@few.eur.nl Follow this and additional works at: http://digitalcommons.ilr.cornell.edu/intlvf Part of the Human Resources Management Commons This Article is brought to you for free and open access by the International Programs at DigitalCommons@ILR. It has been accepted for inclusion in Visiting Fellow Working Papers by an authorized administrator of DigitalCommons@ILR. For more information, please contact jdd10@cornell.edu. The Role of Corporate HR Funcitons in MNCs: The Interplay Between Corporate, Regional/National and Plant Level Abstract The HR literature has been abundant in providing typologies of the roles of HR professionals in their organisation. These typologies are largely related to the changing nature of HRM over time, and the context in which empirical work was carried out. In this paper we focus on the context of the increasing internationalisation of firms and how this has an effect upon modern-day typologies of HR roles. We explore these roles by focusing on the way in which HRM practices come about. Especially in a MNC setting of increasing internationalisation of firms the issues of coordination, shared learning and standardisation versus leeway for adapting...
Words: 9324 - Pages: 38
...be secondary data, and sometimes difficult to obtain in any depth, it is reasonable to make some assumptions in most areas in order to complete the report. They must be realistic for your company, the country and the product. Your summary international marketing entry plan should cover: A brief description of your company, their current international activities and your chosen product Format of the final report As most of your data will be secondary data, and sometimes difficult to obtain in any depth, it is reasonable to make some assumptions in most areas in order to complete the report. They must be realistic for your company, the country and the product. Your summary international marketing entry plan should cover: A brief description of your company, their current international activities and your chosen product. o If the product is already available in some other countries, include here some brief information on how the product has been marketed in other countries (i.e. market entry mode and standardisation and adaption from the home market). Your recommended target country for market entry o Reasons for selecting your target country. Multiple market analysis methods can be used to assist in understanding the international market and target country competitive structure if desired (c.f. Ch 7 & Ch 15) o Target country market analysis Summary of environmental and other risk factor analysis in your target market Summary of the potential competitors in the...
Words: 446 - Pages: 2
...Coca-Cola Global Marketing Strategy Introduction As domestic markets mature, it is becoming more and more fashionable for organisations to seek growth through opportunities in foreign countries. Faster communication, new technologies and improved transport links are making international markets more accessible and businesses pursuing a global position can experience an upsurge in brand awareness and cost effectiveness. Global marketing is a relatively new concept linked to these developments. In the main, it is concerned with decisions for integrating or standardising marketing actions across a number of geographic markets. This does not rule out any customisation of the marketing mix to individual countries but suggests that organisations should capitalise on similarities between markets to build competitive advantage. Compelling cases can be put forward for both a standardisation or adaptation approach to international marketing practice. These arguments are keenly explored, drawing from examples of Coca-Cola's international marketing programme to elucidate key points. Background of Coca-Cola As the world's largest manufacturer and distributor of non-alcoholic beverages, Coca-Cola is certainly no stranger to global marketing. Established in the US, Coca-Cola initiated its global expansion in 1919 and now markets to more than 200 countries worldwide. It is one of the most recognizable brands on the planet and also owns a large portfolio of other soft drink brands...
Words: 258 - Pages: 2
