BRAC University Shayokh Ahmed - MKT425 Chapter 1
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- 4. IM MKT425 International Marketing International marketing is a business activities designed to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit.
- 5. IM MKT425 International Marketing Task o Marketing Decision Factors o Aspects of the Domestic Environment o Aspects of the Foreign Environment
- 7. IM MKT425 (1) The rapid growth of the World Trade Organization and new free trade agreements around the world; (2) The trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and eastern Europe; (3) The burgeoning impact of the Internet, mobile phones, and other global media on the dissolution of national borders; and (4) The mandate to manage the resources and global environment properly for the generations to come Why International Marketing is growing
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- 9. IM MKT425 Marketing Decision Factors • Product • Price • Promotion • Place & • Research
- 10. IM MKT425 Aspects of the Domestic Environment • Political & Legal force • Economic Climate • Competitive Structure
- 11. IM MKT425 Aspects of the Foreign Environment • Political & Legal force • Economic Climate • Competitive Structure • Cultural forces • Geography & infrastructure • Structure of Distribution
- 12. IM MKT425 Self-reference criterion (SRC) The SRC is an unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decisions. For example, refusal of food or drink when offered, may offend the host in Asia or the Middle East.
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- 16. IM MKT425 Cross-Cultural Analysis 1. Define the business problem or goal in home-country cultural traits, habits, or norms. 2. Define the business problem or goal in foreign-country cultural traits, habits, or norms through consultation with natives of the target country. Make no value judgments. 3. Isolate the SRC influence in the problem and examine it carefully to see how it complicates the problem. 4. Redefine the problem without the SRC influence and solve for the optimum business goal situation.
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- 20. IM MKT425 To be globally aware is to have ✓ Tolerance of and a willingness to learn about cultural differences and ✓ Knowledge of cultures, history, world market potential, and global economic, social, and political trends.
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- 23. IM MKT425 International Marketing Channels • Supplier - Commodity/non-branded Item buyer (MGI) • FDI- Manufacturing Plants and marketing service (Unilever) • Representative-Commission Agent (Airbus) • Distributor- Wholesaler/Importer (Oppo) • Franchisee- Local operator (Burger King) • Licensee- Regional operator (Coke) • Local partner-Importer/retailor (Navana)
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