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Marketing

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Marketing. 2. Learning Objectives. Suggest how markets for international ... Market-differentiated pricing is based on demand-oriented strategy making it ... – PowerPoint PPT presentation

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Title: Marketing


1
Chapter 14
  • Marketing

2
Learning Objectives
  • Suggest how markets for international
    expansion can be selected, their demand
    assessed, and appropriate strategies for
    their development devised.
  • Describe how environmental differences
    generate new challenges for the international
    marketing manager.
  • Compare and contrast the merits of
    standardization versus localization strategies
    for country markets and of regional versus global
    market efforts.
  • Discuss market-specific and global challenges
    facing the marketing functions product, price,
    distribution, and promotion within both the
    traditional and e-business dimensions.

3
Marketing
  • A look at

Target Market Selection
Marketing Management
4
Identification and Screening
  • Preliminary Screening
  • Estimating Market Potentials by Product Type
  • Estimating Sales Potential for Companys Product
  • Identifying Segments in Target Market

5
Preliminary Screening
  • This process must rely chiefly on secondary data
    for country-specific factors as well as product
    and industry specific factors.

6
Estimating Market Potential
  • The international marketer needs to assess the
    size of existing markets and forecast the size of
    future markets.
  • The marketer uses both quantitative and
    qualitative techniques for assessment.

7
Estimating Sales Potential
  • Collect product and market specific data
  • Competition
  • Market
  • Consumers
  • Product
  • Channel structure

8
Identifying Segments
  • Individuals and organizations vary in their
    wants, resources, geographical locations, buying
    attitudes, and buying practices.

9
Concentration Versus DiversificationMajor
alternatives for choosing an expansion policy
  • Concentration on a small number of markets.
  • Diversification is growth in a relatively large
    number of markets in early stages.

10
Marketing Management
  • Standardization
  • The extent to which elements of the marketing mix
    should be standardized.
  • Adaptation
  • Marketers may consider every situation
    independently, or rely on decision-support
    systems to aid in program adaptation.

11
Product PolicyThe Core of the Firms Operations
  • Goods
  • Services

12
Factors in Product Adaptation
  • Regional, Country, or Local Characteristics.
  • Governments hold stringent requirements.
  • Consider nontariff barriers.
  • Competitive offerings may provide a baseline
    for resource measurement.
  • Economic development must be accounted for.
  • Customer preferences must be considered.
  • Consider economic status of users.
  • Consideration of geography.
  • Purchase patterns must be considered.

13
Product Characteristics
  • Product characteristics are the inherent features
    of the product offering.

14
Company Considerations
  • Resources
  • Cost of adapting
  • Organization
  • Market Opportunity
  • Profitability
  • Is It Worth It?

15
Pricing Policy
  • The only element in the marketing mix that is
    revenue generating.
  • Export Pricing
  • Foreign Market Pricing
  • Price Coordination
  • Intracompany Pricing

16
Export PricingStrategies
  • Standard worldwide pricing is based on average
    unit costs of fixed, variable, and export-related
    costs.
  • Dual pricing differentiates between domestic and
    export prices.
  • Market-differentiated pricing is based on
    demand-oriented strategy making it more
    consistent with the marketing concept.

17
Foreign Market Pricing
  • Determined By
  • Corporate Objectives.
  • Costs.
  • Consumer Behavior and Market Conditions.
  • Market Structure.
  • Environmental Constraints.

18
Price Coordination
  • Standard worldwide pricing may be mostly
    theoretical.
  • Significant price gaps lead to the emergence of
    gray markets.

19
Intracompany Pricing
  • The pricing of sales to members of the corporate
    family.

20
Distribution Policy
  • Channels of distribution provide the essential
    links that connect producers and customers.

21
Channel DesignDetermined by the 11 C-Factors
  • Cost
  • Coverage
  • Control
  • Continuity
  • Communication
  • Customers
  • Culture
  • Competition
  • Company
  • Character
  • Capital

22
E-Commerce
  • Is forecast to grow at a compound annual rate of
    50 percent within 5 years.
  • Western Europe has most growth.
  • Governments work to come to terms with security,
    privacy, and access to the Internet.

23
Promotional Policy
  • Advertising
  • Personal Selling
  • Sales Promotion
  • Publicity
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