...critical review of Viswanathan, N. & Dickson, P. 2007, ‘The fundamentals of standardizing global marketing strategy’, International Marketing Review, vol. 24, no. 1, pp. 46-63. Introductory Academic Program – Academic English The issue of standardisation versus adaptation, which affects all international business organizations, continues to evolve as markets and technologies develop further. In the article ‘The fundamentals of standardizing global marketing strategy’ (2007), Viswanathan and Dickson contribute to the discussion by examining the considerations related to the standardisation of a multinational company’s marketing practices. The authors subsequently propose a new theoretical framework that identifies three complex drivers to be considered in evaluating the degree of marketing standardisation possible: the similarity of consumer response to the marketing mix, the transmissibility of competitive advantage, and similarities in the amount of economic freedom in different markets. The article imparts perceptive insights on the latter two drivers, which, according to the literature review, have been relatively ignored by researchers in comparison to the role of consumers. This critical review assesses the structure and practicality of the proposed conceptual framework, as well as the comprehensiveness of the authors’ exploration of the issue. The proposed theoretical model, intended for the use of marketing practitioners as an instrument in decision-making, appears...
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...activity. Many companies do business domestically, but they place a main concern on international markets also. Those companies apply international marketing strategies which fulfill the company’s needs, while at the same time satisfying clients in various markets. Business environment is characterized by regular change and unending long-term processes of globalization of the economy. Rushing economic development in recent years led to constant increase in competition within the local market and in foreign markets. Lithuania contains various industrial companies with a highly concentrated production, which try to establish and strengthen their situation in foreign markets. International business has become essential for a large number of companies in Lithuania, which has improved by the processes of globalization and by the growth of international competition. Entering European Union had a pro-found effect on companies in Lithuania. International marketing and its application represent a key part of successful corporate management of all international companies in Lithuania. Entering of a company into foreign markets demands an accurate decision making process, because there are many aspects that affect such an internationalization process. One of the most important decisions concerns the marketing mix. By developing an appropriate marketing mix, organizations can satisfy the needs of their target market and reach their organizational objectives, improving performance. As a result...
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...Explain what Minoli did to fix Ducati. Describe the fundamental logic behind this turnaround. Minoli fixed Ducati by: evaluating Ducati’s key strengths and weaknesses, defining a strategy to exploit these strengths, investing to further strengthen Ducati’s resources/capabilities and address key weaknesses. 1. Evaluated & appraised what key resources existed at Ducati: • Tangible: good products (“unique and beautiful performance motorcycle”) • Intangible: strong brand (high customer loyalty), location – industrial area of Bologna • Human Resources: top-notch engineers that know what Ducati’s customers want (“knee down” riders, designing good products without marketing research). 2. Defined a new strategy to exploit Ducati’s key strengths: “develop a global brand that could appeal not only to extreme riders”, but also to those who attracted by intrinsic attributes of the motorcycle, but what the motorcycle evokes and represents”. 3. Focused on strengthening the brand and customer loyalty through the “World of Ducati”. • Racing: open paddock policy to make the people “participate” • Stores: reduced the number of stores, more control, improved average quality - Ducati stores (Separate, unique, retail environment emphasizing Ducati’s brand, superior technical and service support) - Ducati mono-franchised dealers to ensure higher quality (More competent sales force, more space to display motorcycles, good technical assistance) • Events: World Ducati Weekends, a way to broaden fan-base...
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...Piper: Becoming a Global Firm Abstract The global business law firm DLA Piper did not arrive at its position as the recognized leader in its industry without a strategic plan to integrate and align it various regional entities. In fact, it was the vision of integration and alignment by its executive team that led to making DLA Piper the pre-eminent global business law firm today. This case study analysis will describe the setting & environment leading up to, during, and post-merger, then identify the stakeholders involved, and analyze the case context. In addition, Adler & Gundersen (2008) applications, along with options, decision factors and recommendations will be addressed. Setting and Environment In early 2005, two leading firms, DLA and Piper Rudnick, merged in the largest ever in the legal market. DLA, based in the UK, and Piper Rudnick, based in the USA, came together in order to establish a global platform and a foundation for accelerating growth. The two firms, along with US West Coast firm Cray Cary Ware and Freidenrich, became the merged DLA Piper. Initially, the firm would be led by three joint CEO’s who would have to address the issues that would make it a leading business global law firm. In order to achieve its strategic goal, the leadership of the new firm recognized that it must become aligned across its strategy, people, systems, structure, culture, and management. To achieve its express goal of becoming a global business law firm...
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...MKC1 Fundamentals of Marketing and Business Communication How does cultural diversity affect marketing? | By requiring tailored marketing strategies | What element should marketing managers consider when scanning the competitive environment? | Supply chain management | A group of producers of a particular product decided to all raise prices together and they were accused of overcharging consumers.Which federal law would have allowed the United States government to investigate this unfair method of competition? | Sherman Antitrust Act | Which strategy will be best for the marketer to advocate while faced with a deflationary economic environment? | Seek a long-term contract guaranteeing the sale price of its product. | A marketer believes its product has become obsolete for all markets. The marketer feels that a new technology may have created a substitute product and created new desires for their former consumers. What is their best marketing alternative? | Investigate the new technology for opportunities opening in a new industry | Marketers in a foreign country have been extremely successful in selling a particular product to a specific target market. They decided to enter the US market and continue their current sales and promotional tactics. What will likely be the outcome? | Targeting the same market in the U.S., they will find that the product does not fit existing cultural values and will not be purchased. | How will the group membership influence the individual's...
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...Integrating the Enterprise Vertical "command and control" sabotages organizations that need bottom-up innovation to be competitive. Yet organizational integration is increasingly essential. New research shows how technology is helping cutting-edge companies meet the challenge by integrating horizontally. Sumantra Ghoshal and Lynda Cratton nc ofthe most fundamentiil Lind enduring tensions in all liiit very small companies is between siibunit aulononiy and empowermenl on ihc one hand and overall organizaliontil integnition and cohesion on Lhe other.' The tensions grow with increasing organizational complexity and assume tbe most intensity in large, diversified global companies.^ In our research with such organizations, we have seen ihal it is possible to balance those tensions successtijlly by implementing four kinds of horizontal integration for .ichieving cohesion witboul hierarchy. Over the lasL decade, many large companies around the world focused on creating relatively autonomous subunits and empowered managers by breaking up ihoir organizational behemoths into small, entrepreneurial units. Some, though nol all, achieved significant benefits from such restructnring.-' Freed from bureaucratic ccnlral controls, the empowered units improved both the speed and the quality of responsiveness to market demands — and fostered increased innovation. Companies were able to reduce tbeir corporate-level overbead and make internal-governance processes more disciplined and transparent...
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...COLGATE PALMOLIVE Marketing Strategies and Programs Introduction Colgate Palmolive Company is a $17.1 billion global company serving people in more than 200 countries and territories with consumer products that make lives healthier and more enjoyable. This American diversified multinational corporation focuses on strong global brands in its core businesses – Oral Care, Personal Care, Home Care and Pet Nutrition. Colgate follows a tightly defined strategy to grow market shares for key products, such as toothpaste, toothbrushes, bar and liquid soaps, deodorants/antiperspirants, dishwashing detergents, household cleaners, fabric conditioners and specialty pet food.("Colgate Palmolive Annual Report 2012,") Colgate-Palmolive Company's growth from a small candle and soap manufacturer to one of the most powerful consumer products giants in the world is the result of aggressive acquisition of other companies, persistent attempts to overtake its major U.S. competition, and an early emphasis on building a global presence overseas where little competition existed ("Colgate-Palmolive Company History,"). 1. CURRENT SITUATIONAL ANALYSIS a. Current Products The company is organized around four core segments: oral care, personal care, home care, and pet nutrition. i. Oral care products are such as: * toothpastes: colgate total, CDC, optic white, sensitive, CSPR, kids, advavced whitening, kayu sugi etc. * Toothbrushes: colgate 360, Twister, Zig Zag, Slim Soft, Classic, Kids ...
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...of Standardization, Localization, Culture and Market Research in International Marketing Strategies Adamu Yushau Usumanu This Paper is Submitted in Partial Fulfillment of the requirement for International Marketing Management course SMC University School of Management Dr. Babu P. George May 19 , 2014 Abstract The research paper discussed standardization and localization strategies, where standardization strategy refer to a common marketing program cutting across nations and marketing segments, while localization strategy seek to adapt products and marketing strategy to the specific characteristics of individual markets. The paper further identified the advantages and disadvantages of standardization and localization strategies in the context of international marketing. The role of cultural pattern in society and its effect on consumption were also discussed, where culture refer to a system of values and norms that are shared among a group of people. Cultural patterns exert a great influence on consumption in a social setting. The paper finally discussed the need for a business entity to carry out a research on differences in language culture, regulations governing marketing before entering a new international market. Key Words Marketing Strategy, Standardization, Localization,, International Marketing, Cultural Patterns, Marketing Mix, Market Research Introduction The discussions concerning globalization...
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...Group Members: Eitan Balloul Bitoodeep Singh Mahammad S. Siddiqi Waqas Yaqoob Ducati Case Analysis Overview Ducati was founded on July 24, 1926 in Bologna, Italy by the Ducati family and a group of investors. Ducati was initially named Società Radio Brevetti Ducati because the founder’s intentions were to manufacture electronics and to penetrate that industry. In fact Ducati’s first task was to produce a component for the growing field of radio transmission. The first product Ducati manufactured was called Manens and it functioned as a condenser for radio equipment. The product was very successful throughout the world and in result it allowed the company to expand and win international respect and prestige. (Ducati's History, 2012) The first motorcycle Ducati manufactured was after the Second World War- the "Il - Cucciolo". It turned out to be a big success and that marked the beginning of a new era for Ducati. During the 1950's Ducati introduced, developed and manufactured powerful motorcycles that were reliable and technically advanced. Ducati’s success was interpreted to rapid growth and reputation in the industry. (Gavetti, 2002) In the process to evaluate Ducati, it is essential to understand the aspects from the management perspective. During the 1980's and early 90's Ducati changed their management constantly which resulted a lack of overall strategic direction. Ducati was on the verge of bankruptcy before Federico Minoli took the reins in 1996...
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...MNGT2001 Business Strategy Starbucks Case Analysis Endang Abu Bakar 3171895 Dagamac Janelle Tan 3156283 Nguyen Dinh Duy 3158495 Le Duc Anh 3159239 Sutthisiriwattana Pimchanok 3175067 Ye Xintao 3156684 Tutor: Dr. Ha Huong Tutorial Group: A4 Table of content I. Introduction 1 II. Strategic Analysis 1 A. Macroenvironmental Analysis 1 1. Opportunities 2 2. Threats 2 B. Microenvironmental Analysis 2 C. Strategic Competitive Advantage 3 III. Strategic directions 3 A. Mission and Vision 4 B. Strategic Objectives 4 IV. Business Level Strategy 4 A. Differentiation 5 B. Market Penetration 5 C. Product Development 6 1. Seasonal Products 6 2. New Products 6 D. Other Strategies 7 V. International Strategy 7 VI. Strategic Implementation 7 A. General Perspectives 8 1. Strategy 8 2. System 8 B. Strategic Implementation Issues 8 1. Economic risk 8 2. Environmental risk 9 3. Global risk 9 VII. Strategic Evaluation 9 VIII. Recommendation 9 A. Financial 10 B. Customer 10 C. Internal processes 10 D. Learning and growth 10 VIII. Recommendation 11 IX. Conclusion 11 Reference 12 Appendix 13 I. Introduction Market conditions all over the world have fostered an evolution in modern business practice (Obstfeld...
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...Case Study – KFC Japan INTRODUCTION Kentucky Fried Chicken (KFC) was set up by Harland Sanders. In the first decades of the enterprise there were no management systems or strategic controls. However, it worked fine in the beginning, mainly because for launching new franchises an entrepreneurial spark was fundamental. Nevertheless, the company grew and after suffering declines in sales and profits the implementation of strategic planning, which was introduced by Michael Miles in late 1975, seemed to be an adequate measure to solve the problems. By 1979, the various programs of the strategic planning progress were beginning to show results. Anyhow, some foreign subsidiaries resisted and didn’t want to adopt these measurements. PROBLEM STATEMENT One of the main problems KFC was facing, was that foreign subsidiaries were not willing to adapt standards – like strategic planning - imposed by the headquarter. Especially KFC-J has been strongly resisting the implementation of administrative operational controls and systems. Should the headquarters be prepared to accept operational variations? Moreover, it had to be clarified what was an appropriate level of performance expectations for overseas units. Even though it was obvious that KFC had to maintain its drive for aggressive growth, there was incertitude about how to ensure the continuance of such growth. Additionally, there was the issue of how to expand into new markets and countries successfully. KFC had very limited...
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...archive of this journal is available at www.emeraldinsight.com/0265-1335.htm International e-marketing: opportunities and issues Jagdish N. Sheth Goizueta Business School, Emory University, Atlanta, Georgia, USA, and E-marketing: opportunities and issues 611 Received October 2004 Revised June 2005 Accepted July 2005 Arun Sharma School of Business, University of Miami, Coral Gables, Florida, USA Abstract Purpose – E-marketing is growing at a dramatic pace and is significantly impacting customer and business market behaviors. As a result, most firms have started developing e-marketing strategies for the web. However, the evolution and strategic direction of e-marketing strategies in international environments has not been discussed and is the focus of this paper. Design/methodology/approach – In this paper, the authors examine two issues based on extant literature and our previous research in this area. The authors discuss e-marketing in an international context and develop a framework that will allow researchers and managers to understand the impact of country level effects on e-marketing strategies. The paper proposes that the evolution of e-marketing strategies is based on the countries infrastructure and marketing institutional development. Findings – It is found that international e-marketing strategies are fundamentally changing, and will continue to change, marketing thought and practice in international markets. The paper suggests that the e-markets of tomorrow...
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...Week 1 Flash Cards What is a business model? A business model is a clear, simple outline of how the business intends to generate revenue. What are four ways that business can benefit society? Business can benefit society by offering valuable goods and services, providing employment, paying taxes, and contributing to national growth, stability, and security. Do all companies have an R&D function? Explain your answer. No. Many companies simply resell products that other firms make or continue to make the same goods or perform the same services year after year. How is the role of a financial manager different from the role of an accountant? A financial manager is responsible for planning, while an accountant is responsible for monitoring and reporting. What is professionalism? Professionalism is the quality of performing at a high level and conducting oneself with purpose and pride. True professionals exhibit seven distinct traits: striving to excel, being dependable and accountable, being a team player, communicating effectively, demonstrating a sense of etiquette, making ethical decisions, and maintaining a positive outlook. Why is the economic concept of scarcity a crucial concept for businesspeople to understand? The economic concept of scarcity is a crucial concept for businesspeople to understand because scarcity creates competition for resources and forces trade-offs on the part of every participant in the economy. First, businesses and industries compete...
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...utmost to take on important social responsibilities, such as promoting prosperity and coexistence of the global community. Samsung will spare no effort to create value through corporate sustainability management - making sure it protects the environment, shares growth with suppliers and cultivates its pool of talent , while also strengthening its position as a market innovator for the future. Contents 34 Human Resources 42 Health & Safety 50 Eco Products 54 Water Management 58 Shared Growth 62 Supplier Compliance 72 Conflict Minerals 75 Product Accessibility 80 Global Social Contribution : Delivering Hope Around the World 2014 SAMSuNg ElECTRONICS SuSTAINAbIlITy REpORT 50,416 workforce increase compared to 2012 Grow Together Establishment of a Creative Culture At Samsung, we consider creativity to be the seed of innovation and take pride in the creative spirit and autonomy of our employees. The collaboration and entrepreneurship we encourage across our company has enabled our success to date and will propel us forward. At Samsung, we welcome challenges and see new initiatives as opportunities for growth and learning. Samsung Electronics encourages employees’ independence and creativity through their performance-based compensation policy. In an effort to ensure a smooth organizational operation, the company has established a global integrated personnel management system that is focused on fostering continuous innovation. Samsung Electronics...
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...International Business Laws control the lesser man. Right conduct controls the greater one. – Chinese proverb Opening Photo Objectives • Profile the evolving process of organizing a company for international business • Describe the features of classical structures • Describe the features of neoclassical structures • Discuss the systems used to coordinate and control international activities • Profile the role and characteristics of organizational culture CASE: Building an Organization at Johnson & Johnson The typical pharmaceutical company relies on global integration, given its steep product development costs and potential scale economies. Meanwhile, it must respond to local market conditions, obtaining government approval for each product in each country and establishing local sales and distribution systems. Consequently, headquarters and subsidiaries jointly implement the company’s strategy. Building an organization that can meet this mission is tough. One standout that does is Johnson & Johnson (J&J). Since the start of its U.S. operations in 1886, J&J has evolved into the most broadly based health-care company in the world. International activity began in 1919 with J&J Canada. Headquartered in New Brunswick, New Jersey, J&J lists 250 operating companies across the world, holds more than 54,000 U.S. and foreign patents, sells products in more than 175 countries, and employs about 115,000 people worldwide, with nearly 70,000 working in 57 countries outside...
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