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: Focus on customer orientation Development of marketing mix: product, price, place, promotion (4P’s) Keegan: Global Marketing Management Chapter 1/ 5

6. The Marketing Concept (2) 1990’s: Focus on customer in the context of the broader external environment Competition, government policy & regulation Focus on stakeholder value employees, customers, shareholders, society Keegan: Global Marketing Management Chapter 1/ 6

7. The Marketing Concept (3) Today: Two key tasks of marketing Focus on customer & his/her environment Create value for consumers & stakeholder Shift towards Focus on managing strategic partnerships Positioning of firm in value chain to optimize value creation 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: Expand or improve product and/ or service benefits Reduce the price 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 Cross-Cultural Knowledge Country/ Regional Knowledge 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: Characteristic of domestic & international companies Opportunities outside the home market are pursued by extending various elements of the marketing mix Polycentric Orientation Characteristic of multinational companies 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: Characteristic of global & transnational companies 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 Technology Regional Economic Agreements Market Needs & Wants Transportation & Communication Improvements Product Development Costs Quality World Economic Trends Leverage The Global/ Transnational Corporation Keegan: Global Marketing Management Chapter 1/ 19

20. Restraining Forces Affecting Global Marketing Management Myopia & Organizational Culture 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

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