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Global market place

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Ahsin YousafAttended Punjab Group of Colleges lahore

bal market place Agenda 1. Looking at the Global Marketing Environment 2. Deciding Whether to Go Global:- 3. Deciding Which Markets to Enter 5. Deciding on the Global Marketing Organization 4. Deciding How to Enter the Market 4 5. Looking at the Global Marketing Environment • Before deciding whether to operate internationally, a company must understand the international marketing environment.

Global market place

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1
University of the
Central Punjab
(Final Project Marketing)
Presented to :
Prof. Nadeem Iqbal
Group Members
• Ahsin Yousaf S1F17MSCT0047
MSc-IT
University of the Central Punjab
Agenda
1. Looking at the Global Marketing Environment
2. Deciding Whether to Go Global:-
3. Deciding Which Markets to Enter
5. Deciding on the Global Marketing Organization
4. Deciding How to Enter the Market
4
Looking at the Global Marketing
Environment
• Before deciding whether to operate
internationally, a company must understand the
international marketing environment.
The international Trade System
• Taxes on certain imported products designed to
raise revenue or protect domestic firms.
• Tariffs are often used to force favorable trade
behaviors from other nations.
Tariffs
• Limits on the amount of foreign imports that they
will accept in certain product categories.
• The purpose of a quota is to conserve on foreign
exchange and protect local industry and
employment.
Quotas
• Limit the amount of foreign exchange and
the exchange rate against other currencies.Exchange controls
• Restrictive product standards, or excessive
host-country regulations or enforcement.
Nontariff trade
barriers

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Global market place

  • 1. 1
  • 2. University of the Central Punjab (Final Project Marketing) Presented to : Prof. Nadeem Iqbal
  • 3. Group Members • Ahsin Yousaf S1F17MSCT0047 MSc-IT University of the Central Punjab
  • 4. Agenda 1. Looking at the Global Marketing Environment 2. Deciding Whether to Go Global:- 3. Deciding Which Markets to Enter 5. Deciding on the Global Marketing Organization 4. Deciding How to Enter the Market 4
  • 5. Looking at the Global Marketing Environment • Before deciding whether to operate internationally, a company must understand the international marketing environment.
  • 6. The international Trade System • Taxes on certain imported products designed to raise revenue or protect domestic firms. • Tariffs are often used to force favorable trade behaviors from other nations. Tariffs • Limits on the amount of foreign imports that they will accept in certain product categories. • The purpose of a quota is to conserve on foreign exchange and protect local industry and employment. Quotas • Limit the amount of foreign exchange and the exchange rate against other currencies.Exchange controls • Restrictive product standards, or excessive host-country regulations or enforcement. Nontariff trade barriers
  • 7. The World Trade Organization • The General Agreement on Tariffs and Trade (GATT), established in 1947 and modified in 1994, was designed to promote world trade by reducing tariffs and other international trade barriers. • It established the World Trade Organization (WTO), which replaced GATT in 1995 and now oversees the original GATT provisions. • The WTO also imposes international trade sanctions and mediates global trade disputes.
  • 8. • The purpose of the WTO is to ensure that global trade commences smoothly, freely and predictably. The WTO creates and embodies the legal ground rules for global trade among member nations and thus offers a system for international commerce.
  • 9. Regional Free Trade Zones • Economic community (or free trade zones) are groups of nations organized to work toward common goals in the regulation of international trade. – European Union (EU) – North American Free Trade Agreement (NAFTA) – Central American Free Trade Association (CAFTA)
  • 10. Economic Environment • Two economic factors reflect the country’s attractiveness as a market: its industrial structure and its income distribution. • The country’s industrial structure shapes its product and service needs, income levels, and employment levels. • The four types of industrial structures are as follows: Subsistence economies Raw material exporting economies Emerging economies Industrial economies  In a subsistence economy, the vast majority of people engage in simple agriculture.  They consume most of their output and barter the rest for simple goods and services.  They offer few market opportunities.  These economies are rich in one or more natural resources but poor in other ways.  Much of their revenue comes from exporting these resources.  These countries are good markets for large equipment, tools and supplies, and trucks.  If there are many foreign residents and a wealthy upper class, they are also a market for luxury goods.  In an emerging economy, fast growth in manufacturing results in rapid overall economic growth.  Industrialization typically creates a new rich class and a growing middle class, both demanding new types of imported goods.  As more developed markets stagnate and become increasingly competitive, many marketers are now targeting growth opportunities in emerging markets.  Industrial economies are major exporters of manufactured goods, services, and investment funds.  They trade goods among themselves and also export them to other types of economies for raw materials and semifinished goods.  The varied manufacturing activities of these industrial nations and their large middle class make them rich markets for all sorts of goods.  The second economic factor is the country’s income distribution.  Industrialized nations may have low-, medium-, and high- income households.  Even poor or emerging economies may be attractive markets for all kinds of goods.  These days, companies in a wide range of industries—from cars to computers to candy—are increasingly targeting even low- and middle-income consumers in emerging economies.
  • 11. • The international marketer must study each country’s economy. • Two economic factors reflect the country’s attractiveness as a market: its industrial structure and its income distribution. • The country’s industrial structure shapes its product and service needs, income levels, and employment levels.
  • 12. • 4 types of industrial structures • Subsistence • Raw material exporting economies • Emeriging economies • Industrial economies
  • 13. Political-Legal Environment • Nations differ greatly in their political-legal environments. • In considering whether to do business in a given country, a company should consider factors such as the country’s attitudes toward international buying, government bureaucracy, political stability, and monetary regulations. • Some nations are very friendly to foreign firms; others are less accommodating. • Sellers want to take their profits in a currency of value to them. • Most international trade involves cash transactions.
  • 14. Cultural Environment • Each country has its own norms. When designing global marketing strategies, companies must understand how culture affects consumer reactions in each of its world markets. In turn, they must also understand how their strategies affect local cultures.
  • 15. Deciding Whether to Go Global • Any of several factors might draw a company into the international arena. • Global competitors might attack the company’s home market by offering better products or lower prices. • The company might want to counterattack these competitors in their home markets to tie up their resources. • The company’s customers might be expanding abroad and require international servicing. • Or, most likely, international markets might simply provide better opportunities for growth. • Before going abroad, the company must evaluate several risks and answer many questions about its ability to operate globally.
  • 16. Deciding Which Markets to Enter • Before going abroad, the company should try to define its international marketing objectives and policies. • It should decide what volume of foreign sales it wants. • The company also needs to choose in how many countries it wants to market. • Next, the company needs to decide on the types of countries to enter. • A country’s attractiveness depends on the • product • geographical factors • income and population • political climate • other considerations • Possible global markets should be ranked on several factors including: • market size • market growth • the cost of doing business • competitive advantage • risk level
  • 17. 3. Deciding Which Markets to Enter • Before going abroad, the company should try to define its international marketing objectives and policies. • It should decide what volume of foreign sales it wants. • Most companies start small when they go abroad. Some plan to stay small, seeing international sales as a small part of their business.
  • 18. • Other companies have bigger plans, seeing international business as equal to or even more important than their domestic business. • The company also needs to choose in how many countries it wants to market. Companies must be careful not to spread themselves too thin or expand beyond their capabilities by operating in too many countries too soon.
  • 19. • Next, the company needs to decide on the types of countries to enter. • A country’s attractiveness depends on the product, geographical factors, income and population, political climate, and other factors. • After listing possible international markets, the company must carefully evaluate each one
  • 20. Decide How to Enter the Market • Once a company has decided to sell in a foreign country, it must determine the best mode of entry.
  • 21. Exporting • We define exporting as entering foreign markets by selling goods produced in the company’s home country, often with little modification. • Exporting involves the least change in the company’s product lines, organization, investments, or mission. • The simplest way to enter a foreign market is through exporting. • The company may export its surpluses from time to time, or it may make an active commitment to expand exports to a particular market.
  • 22. 2. Joint Venturing :- • A second method of entering a foreign market is by joint venturing—Entering foreign markets by joining with foreign companies to produce or market a product or service. There are four types of joint ventures: A. licensing B. contract manufacturing, C. management contracting, D. joint ownership. 22
  • 23. (A) Licensing :- • Licensing is a simple way for a manufacturer to enter international marketing. • Entering foreign markets through developing an agreement with a licensee in the foreign market. • For a fee or royalty payments, the licensee buys the right to use the company’s manufacturing process, trademark, patent, trade secret, or other item of value.
  • 24. (B) Contract Manufacturing • A joint venture in which a company contracts with manufacturers in a foreign market to produce the product or provide its service. • Another option is contract manufacturing—the company contracts with manufacturers in the foreign market to produce its product or provide its service. The drawbacks of contract manufacturing are decreased control over the manufacturing process and loss of potential profits on manufacturing. The benefits are the chance to start faster, with less risk.
  • 25. ( C) Management Contracting :- • Under a management contract mode of market entry one company provides another company with managerial expertise for a specified period of time. This maybe in exchange for a lump sum payment or a continuing fee on a % of sales value or volume for example. • Management contracting is a low-risk method of getting into a foreign market, and it yields income from the beginning.
  • 26. (D) Joint Ownership :- • A cooperative venture in which a company creates a local business with investors in a foreign market, who share ownership and control. • A company may buy an interest in a local firm, or the two parties may form a new business venture. • Joint ownership may be needed for economic or political reasons. The firm may lack the financial, physical, or managerial resources to undertake the venture alone. Or a foreign government may require joint ownership as a condition for entry. • Joint ownership has certain drawbacks, however. The partners may disagree over investment, marketing, or other policies.
  • 27. 3. Direct Investment :- • The biggest involvement in a foreign market comes through direct investment—the development of foreign-based assembly or manufacturing facilities. • The firm may improve its image in the host country because it creates jobs. Generally, a firm develops a deeper relationship with the government, customers, local suppliers, and distributors, allowing it to adapt its products to the local market better.
  • 28. Deciding on the Global Marketing Program • Standardized global marketing is an international marketing strategy that basically uses the same marketing strategy and mix in all of the company’s international markets. • Adapted global marketing is an international marketing approach that adjusts the marketing strategy and mix elements to each international target market, which creates more costs but hopefully produces a larger market share and return.
  • 29. Despite global convergence (unionism), consumers in different countries still have widely varied cultural backgrounds. They still differ significantly in their needs and wants, spending power, product preferences, and shopping patterns. Because these differences are hard to change, most marketers today adapt their (i)products, (ii)prices, (iii)channels, and (iv)promotions
  • 30. • McDonald’s operates this way: It uses the same basic fast-food look, layout, and operating model in its restaurants around the world but adapts its menu to local tastes. • In India, where cows are considered sacred, McDonald’s serves McChicken,
  • 31. There are 3 product strategies for a global market. (A). Straight product extension:- (B). Product adaptation :- (C). Product invention :- i) Product
  • 32. Product • Straight product extension means marketing a product in a foreign market without making any changes to the product. • Product adaptation involves changing the product to meet local requirements, conditions, or wants in foreign markets. • Product invention creates new products or services for foreign markets.
  • 33. There are 2 marketing Communication strategies for a global market (A) same communication strategy:- Companies can either adopt the same communication strategy they use in the home. • Some global companies use a standardized advertising theme around the world. II) Promotion
  • 34. (B) communication adaptation Other companies follow a strategy of communication adaptation, fully adapting their advertising messages to local markets. II) Promotion
  • 35. III) Price • Companies also face many considerations in setting their international prices. • It could charge what consumers in each country would bear, but this strategy ignores differences in the actual costs from country to country. 35
  • 36. IV) Distribution Channels • An international company must take a whole-channel view of the problem of distributing products to final consumers. • There are two major links between the seller and the final buyer. The first link, channels between nations, moves company products from points of production to the borders of countries within which they are sold. • The second link, channels within nations, moves products from their market entry points to the final consumers. The whole-channel view takes into account the entire global supply chain and marketing channel. 36
  • 37. • An international company must take a whole- channel view of the problem of distributing products to final consumers. • There are two major links between the seller and the final buyer. The first link, channels between nations, moves company products from points of production to the borders of countries within which they are sold. • The second link, channels within nations, moves products from their market entry points to the final consumers. The whole-channel view takes into account the entire global supply chain and marketing channel.