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Global Marketing Strategies

Extracts from this document...

Introduction

"GLOBAL MARKETING STRATEGIES" Robert Schultz Undersecretariat of Foreign Trade Expert Index: 1. Executive Summary 2. Global Marketing Strategies 3. Global Market Entry Strategies 4. Appendices 5. References 1) Executive Summary: Usually, selling focuses on the needs of the seller, marketing on the needs of the buyer (customer). The purpose of business is to get and keep a customer. Or, to use Peter Drucker`s more refined construction to create and keep a customer. (through product differentiation and price competition) International marketing involves the marketing of goods and services outside the organization`s home country. Multinational marketing is a complex form of international marketing that engages an organization in marketing operations in many countries. Global marketing refers to marketing activities coordinated and integrated across multiple markets. A firm`s overseas involvement may fall into one of several categories: 1. Domestic: Operate exclusively within a single country. 2. Regional exporter: Operate within a geographically defined region that crosses national boundaries. Markets served are economically and culturally homogenous. If activity occurs outside the home region, it is opportunistic. 3. Exporter: Run operations from a central office in the home region, exporting finished goods to a variety of countries; some marketing, sales and distribution outside the home region. 4. International: Regional operations are somewhat autonomous, but key decisions are made and coordinated from the central office in the home region. Manufacturing and assembly, marketing and sales are decentralized beyond the home region. Both finished goods and intermediate products are exported outside the home region. 5. International to global: Run independent and mainly self-sufficient subsidiaries in a range of countries. While some key functions (R&D, sourcing, financing) are decentralized, the home region is still the primary base for many functions. 6. Global: Highly decentralized organization operating across a broad range of countries. No geographic area (including the home region) is assumed a priori to be the primary base for any functional area. ...read more.

Middle

Although global firms have superior resources, they often become inflexible after several successful market entries and tend to stay with standard approaches when flexibility is called for. In general, the global firms` strongest local competitors are those who watch global firms carefully and learn from their moves in other countries. With some global firms requiring several years before a product is introduced in all markets, local competitors in some markets can take advantage of such advance notice by building defenses or launching a preemptive attack on the same segment. 3) Global Market Entry Strategies: Exporting as an Entry Strategy: Exporting represents the least commitment on the part of the firm entering a foreign market (See appendix 2). Exporting to a foreign market is a strategy many companies follow for at least some of their markets. Since many countries do not offer a large enough opportunity to justify local production, exporting allows a company to centrally manufacture its products for several markets and therefore to obtain economies of scale. Furthermore, since exports add volume to an already existing production operation located elsewhere, the marginal profitability of such exports tends to be high. A firm has two basic options for carrying out its export operations. The form of exporting can be directly under the firm`s control or indirect and outside the firm`s control. It can contact foreign markets through a domestically located (in the exporter`s country of operation) intermediary-an approach called indirect exporting. Alternatively, it can use an intermediary located in the foreign market-an approach termed direct exporting. Indirect Exporting: Indirect exporting includes dealing through export management companies of foreign agents, merchants or distributors. Several types of intermediaries located in the domestic market are ready to assist a manufacturer in contacting international markets or buyers. The major advantage for managers using a domestic intermediary lies in that individual`s knowledge of foreign market conditions. Particularly, for companies with little or no experience in exporting, the use of a domestic intermediary provides the exporter with readily available expertise. ...read more.

Conclusion

For example, they may contact my organization, Undersecretariat of Foreign Trade, closest Chambers of Commerce or any other public or private organization located in Turkey or abroad. They may also use any library or internet resources. Ozet: (Turkce) Global pazarlama, bir orgutun kaynaklarinin onun kisa ve uzun donemli stratejik hedefleriyle uyumlu ve destekleyici global pazar firsatlarinin secimi ve kullanimina odaklanmasi surecidir. Bu calismada, bir sirketin global cevrede farkli taktikleri kullanarak rekabet etme yollarini analiz etmeye calistim. Bu taktikler, bir sirketin yetenek ve istekliliginin izin verdigi bir yolla degisir. Bir sirket, faaliyetlerini globallestirmeden once bu taktikleri kullanmada dikkatli olmalidir. Cunku, bazen bu taktikler basarisiz olabilir ve kar kaybi veya sirketin kapanmasiyla bile sonuclanabilir. Okuyucuya bu konu hakkinda ilave bilgi bulmasini oneriyorum. Ornegin, onlar benim kurumum Dis Ticaret Mustesarligiyla, en yakin Ticaret Odasiyla, veya herhangi diger Turkiye`de veya yurtdisinda yerlesik kamu veya ozel kurumla temasa gecebilirler. Onlar herhangi kutuphane veya internet kaynaklarini da kullanabilirler. 4) Appendices: Appendix 1: Economic-Financial Factors: * Amount of foreign debt carried * Income distribution within the market * Amount of foreign investment already in the market * Natural resource base * Inflation rate Political-Legal Factors: * Role of government in business activities (free or not free markets) * Stability of government * Barriers to international trade (whether or not favorable trade policies) * Laws and regulations affecting the marketing mix (marketing regulations) * Laws and regulations affecting business activities (acceptance of foreign investment, etc.) * Stability of the workforce * Political relations with trading partner Cultural Factors: * Style of business within the market * Attitudes toward bribes and questionable payments * Language, race and nationalities, geographic divisions * Role of institutions, religious groups, educational system, mass media, family * Sociocultural (social interaction, hierarchies, interdependence, etc.) Demographic Factors: * Number of organizations within the market * Size and quality of workforce * Population size and growth rate * Composition of house holds * Geographic distribution and density of population Trade Agreements (blocks): * WTO * EU * NAFTA * APEC ...read more.

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