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Pp 01 introduction
- 1. Global Marketing Management Chapter 1 Introduction to Global Marketing Warren J. Keegan
- 2. Overview „ Marketing: A Universal Discipline „ The Three Principles of Marketing „ Global Marketing:What It Is & What It Is Not „ Importance of Global Marketing „ Management Orientation & Global Marketing „ Driving and Restraining Forces Affecting Global Integration & Global Marketing „ Summary Keegan: Global Marketing Management Chapter 1/ 2
- 3. Learning Objectives „ Understand how the world economy developed over the past decades „ Know the impact of globalization on the marketing discipline „ Learn about the interdependencies between management orientation & marketing performance „ Understand the factors supporting or inhibiting international marketing activities Keegan: Global Marketing Management Chapter 1/ 3
- 4. Marketing: A Universal Discipline „ Marketing (1): the process of focusing the resources & objectives of an organization on environmental opportunities & needs „ Marketing (2): a set of concepts, tools, theories, practices, procedures, & experiences „ Although marketing is a universal discipline, marketing practice varies from country to country Keegan: Global Marketing Management Chapter 1/ 4
- 5. The Marketing Concept (1) „ Concept has chanced dramatically „ 1950’s: Focus on products „ 1960’s: ƒ Focus on customer orientation ƒ Development of marketing mix: product, price, place, promotion (4P’s) Keegan: Global Marketing Management Chapter 1/ 5
- 6. The Marketing Concept (2) „ 1990’s: ƒ Focus on customer in the context of the broader external environment ‚ Competition, government policy & regulation ƒ Focus on stakeholder value ‚ employees, customers, shareholders, society Keegan: Global Marketing Management Chapter 1/ 6
- 7. The Marketing Concept (3) „ Today: ƒ Two key tasks of marketing ‚ Focus on customer & his/her environment ‚ Create value for consumers & stakeholder ƒ Shift towards ‚ Focus on managing strategic partnerships ‚ Positioning of firm in value chain to optimize value creation ƒ Profit as a measure of success, not an end in itself Keegan: Global Marketing Management Chapter 1/ 7
- 8. The Three Principles of Marketing CUSTOMER VALUE DIFFERENTIATION FOCUS Keegan: Global Marketing Management Chapter 1/ 8
- 9. Key Elements of Marketing – 1. Customer Value „ Goal: create customer value that is greater than the value created by competitors „ Strategy: ƒ Expand or improve product and/ or service benefits ƒ Reduce the price ƒ Combine these two elements Keegan: Global Marketing Management Chapter 1/ 9
- 10. Elements of Marketing – Customer Value V=B/P V = Value B = Perceived Benefits – Perceived Costs P = Price Keegan: Global Marketing Management Chapter 1/ 10
- 11. Key Elements of Marketing – 2. Differentiation „ Goal: create competitive advantage through differentiation „ Advantage can exist in any element of a company’s offer „ One way to penetrate a new national market is to offer a superior product at a lower price. Keegan: Global Marketing Management Chapter 1/ 11
- 12. Key Elements of Marketing – 3. Focus „ Goal: a concentration of attention & resources „ Requirement to create customer value at a competitive advantage „ A viable way for small & medium sized companies to achieve dominant position in world market „ A clear focus on customer needs & wants Keegan: Global Marketing Management Chapter 1/ 12
- 13. Global Marketing „ Marketing discipline is universal but markets & customers are quite different „ 3 domains of knowledge ƒ Cross-Cultural Knowledge ƒ Country/ Regional Knowledge ƒ Cross-Border Transactions Knowledge „ Need for “Global Localization”: Adjustment of global marketing strategies to local requirements Keegan: Global Marketing Management Chapter 1/ 13
- 14. Examples of Global Marketing Product Canon/photocopier/McDonalds/Toyota/Ford Design Brand Name Marlboro/Coke/Pepsi/Mercedes/Caterpillar Product Colgate toothpaste/Unilever fabric softener Positioning Packaging Gillette razors Advertising Coca-cola/British Airways/Benetton Strategy Sales IBM Promotion Distribution Benetton/United Distillers Customer American Express/Hertz Service Keegan: Global Marketing Management Chapter 1/ 14
- 15. Importance of Global Marketing „ International arena is of great importance to companies maximizing growth potential „ 75% of market potential is outside the US „ 94% of market potential for German companies is outside of Germany „ A large number of industries will be dominated by a handful of global companies Keegan: Global Marketing Management Chapter 1/ 15
- 16. Management Orientation and Global Marketing (1) „ Different Management Orientations in the Global Arena – EPRG Framework Polycentric Ethnocentric Regiocentric Geocentric Keegan: Global Marketing Management Chapter 1/ 16
- 17. Management Orientation & Global Marketing (2) „ Ethnocentric Orientation: ƒ Characteristic of domestic & international companies ƒ Opportunities outside the home market are pursued by extending various elements of the marketing mix „ Polycentric Orientation ƒ Characteristic of multinational companies ƒ Marketing mix is adapted by autonomous country managers Keegan: Global Marketing Management Chapter 1/ 17
- 18. Management Orientation & Global Marketing (3) „ Regiocentric or Geocentric Orientation: ƒ Characteristic of global & transnational companies ƒ Marketing opportunities are pursued by both extension & adaptation strategies in global markets Keegan: Global Marketing Management Chapter 1/ 18
- 19. Driving Forces Affecting Global Marketing ƒ Technology ƒ Regional Economic Agreements ƒ Market Needs & Wants ƒ Transportation & Communication Improvements ƒ Product Development Costs ƒ Quality ƒ World Economic Trends ƒ Leverage ƒ The Global/ Transnational Corporation Keegan: Global Marketing Management Chapter 1/ 19
- 20. Restraining Forces Affecting Global Marketing ƒ Management Myopia & Organizational Culture ƒ National Controls & Barriers Keegan: Global Marketing Management Chapter 1/ 20
- 21. Summary „ Global marketing is the process of focusing resources on global marketing opportunities „ Goal, to create customer value & competitive advantage by maintaining focus „ Three classifications of management orientation: ethnocentric, polycentric, regiocentric, geocentric „ Global marketing importance is shaped by a variety of driving & restraining forces Keegan: Global Marketing Management Chapter 1/ 21