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For years academicians and marketing directors have debated the marketing standardisation versus adaptation of international marketing strategy. Despite the great importance of the topic, the debate remains unresolved. At the same time, the continuing globalisation of markets and the growing importance of the emerging BRIC markets make an optimal management of international marketing efforts a necessity. Therefore, this study offers - on the basis of a solid theoretical framework and sound methodological operationalization - empirical findings on how to successfully manage both, the international marketing mix and the related marketing process in world markets. In particular, the marketing strategy pursued by multinational corporations are analysed and compared as well as empirical findings relating to financial and non-financial performance measures are provided.
Essay from the year 2003 in the subject Business economics - Offline Marketing and Online Marketing, grade: 2, University of Manchester, language: English, abstract: The core of a firm’s international operations is a product or service. This can be defined as the complex of tangible and intangible elements that distinguishes it from the other entities in the marketplace (Czinkota, Rinkainen, 1995: 262). Product can be defined as: “it’s a bundle of satisfactions (or utilities) the buyer receives. This includes its form, taste, colour, odour and texture; how it functions in use; the package; the label; the warranty; manufacturer’s and retailer’s servicing; the confidence or prestige enjoyed by the brand; the manufacturer’s reputation; the country of origin; and any other symbolic utility received from the possession or use of the goods” (Cateora, Graham, 1999: 355-356). The success of the firm depends on how it’s possible to differentiate from other competitors. But the key factors of success can vary from one country to another country. Therefore for the firm it is important to choose the right strategy between the product adaptation and product standardisation. Product adaptation means that the firm adapts the product to the local markets. It is the process of modifying products for different countries and regions or designing new products for foreign markets. Product standardisation means that the firm sells and advertises a standardized product in the international context. But which strategy is the better one? In the following the author wants to explain the different advantages and disadvantages and work out, which strategy is the best for certain situations because it depends on the situation which strategy is better.
Steenkamp introduces the global brand value chain and explains how brand equity factors into shareholder value. The book equips executives with techniques for developing strategy, organizing execution, and measuring results so that your brand will prosper globally. What sets strong global brands apart? First, they generate more than half their revenue and most of their growth outside their home market. Secondly, their brand equity is responsible for a massive percentage of their firm’s market value. Third, they operate as single brands everywhere on the planet. We find them in B2C and B2B industries, among large and small companies, and among established companies and new businesses. The stewards of these brands have a set of skills and knowledge that sets them apart from the typical corporate marketer. So what’s their secret? In a world that is globalizing, but not yet globalized, how do you build a powerful global brand that resonates universally but also accommodates local nuances? How do you ensure that it is dynamic and flexible enough to change at market speed? World-class marketing expert Jan-Benedict Steenkamp has studied global brands for over 25 years on six continents. He has distilled their practices into eight tools that you can start using today. With case studies from around the world, Steenkamp’s book is provocative and timely. Global Brand Strategy speaks to three types of B2C and B2B managers: those who want to strengthen already strong global brands, those who want to launch their brands globally and get results, and those who need to revive their global brand and stop the bleeding.
This book has been written for experienced managers and students in postgraduate programs, such as MBA or specialized master’s programs. In a systematic yet concise manner, it addresses all major issues companies face when conducting business across national and cultural boundaries, including assessing and selecting the most promising overseas markets, evaluating market entry alternatives, and examining the forces that drive adaptation versus standardization of the marketing mix. It looks at the various global marketing challenges from a strategic perspective and also addresses topics not usually found in international marketing texts, such as aligning marketing strategies with global organizational structures and managing the relationship between national subsidiaries, regional headquarters, and global headquarters, as well as corporate social responsibility challenges and pertinent future trends that are likely to affect global business. A guide to suitable video resources giving additional background to this book can be downloaded by all readers by contacting the author. Instructors can also obtain additional support material for teaching. Please email Bodo Schlegelmilch at WU Vienna, using your institutional email and stating your university affiliation: - More than 400 PowerPoint slides covering the material in each chapter- Open Ended Questions - A comprehensive multiple choice test bank with solutions
This reader deals with the environment, external and internal strategic dimensions and implementation considerations from the viewpoint of the new entrant into the international market. Exporting, from the standpoint of both smaller and medium-sized firms, is given primary emphasis. Features: * Theoretical and pragmatic viewpoints are reflected, to encourage a thorough understanding of foreign market entry requirements, opportunities and strategies. * The first section, on the environment, outlines the growing interdependencies and linkages that make all firms part of international marketing. Trading blocs and international trade relationships are illustrated using the EC, the former communist bloc, the U.S. and Japan as examples. * Government assistance to firms in the start-up phase of international market entry is highlighted in the second section. These chapters include overviews of export promotion, with detail on who is helped and who isn't. * Chapter 8 presents a detailed study of a state government's efforts in export promotion. * Part 3 studies the factors affecting a firm's decision to internationalize or not. It also deals with the challenges that might be unfamiliar to
This book examines emerging theories, frameworks, and applications of global marketing for the 21st century. It highlights how global marketing is changing in a globalized and digital economy that is fast increasing in complexity and uncertainty. The traditional approach to global marketing is no longer sufficient to address the emerging issues in global markets. Global companies need to challenge traditional assumptions in global marketing in an era of shifting political, cultural, economic, and technological changes. They need to take a fresh look at the contemporary threats and opportunities in markets, institutions, and technology and how they affect entry and expansion strategies through careful re-calibration of the marketing-mix. This book offers new insights for global marketing that addresses these issues. This book should be an ideal resource to both academic scholars and reflective practitioners globally such as CEOs and chief marketing officers as well as government officials and policy makers interested in formulating strategies/policies for global marketing activities in the face of a globalized and digitized economy. This well-crafted research volume is an excellent addition to the growing literature on new trends in international marketing. The authors present the latest insight on the impact of phenomena such as cross-border e-commerce and digital markets, and they discuss new tools for political risk assessment, international branding and more broadly the reconfiguring of marketing-mix strategies – A powerful reminder that the new global market remains a rugged landscape. - Alain Verbeke, McCaig Research Chair in Management and Editor-in-Chief Journal of International Business Studies, University of Calgary, Canada. Emerging trends in institutions, markets, and societies, along with new technological advances, are redefining the scope and strategy in global marketing. Professors Agarwal and Wu have assembled a remarkable collection of cutting-edge topics and issues that capture the shifting paradigm and contemporary developments in the global marketing field. This is an informative and timely resource that makes a valuable contribution, useful for both scholars and business practitioners of global marketing. - Constantine S. Katsikeas, Arnold Ziff Endowed Research Chair in Marketing & International Management, Editor-in-Chief Journal of International Marketing, University of Leeds, UK. This book presents new and cutting-edge thinking at a time when the traditional views of international marketing need to be scrapped. Convergence forces are creating new opportunities as well as threats on a daily basis, and marketing practitioners as well as scholars must be forewarned as well as forearmed on how to deal with these changes. The real growth is coming from the emerging nations, and the theories that provided sufficient insights ten years ago have been completely outmoded by the ever-accelerating rate of innovation and technological change as well as the pressures to address the needs of all of the firm’s relevant stakeholders. The strategic insights provided here are absolutely invaluable. Don’t miss an opportunity to read this book!! - John B. Ford, Professor of Marketing & International Business, Eminent Scholar & Haislip-Rohrer Fellow, Editor-in-Chief, Journal of Advertising Research, Old Dominion University, USA.
One of the most challenging obstacles for many businesses in successfully reaching a global market stems from cultural and language barriers and the lack of a clear understanding of this issue. It is critical for businesses to understand these cultural and language barriers and how to face them through effective communications and cultural sensitivity. The companies that will thrive and see the most success are the ones whose employees communicate and collaborate effectively with customers, suppliers, and partners all over the world. Breaking Down Language and Cultural Barriers Through Contemporary Global Marketing Strategies provides both empirical and theoretical research focused on ways that business professionals and organizations are breaking down cultural and language barriers, integrating cultural sensitivity, and implementing cross-cultural management practices into their daily business practices. Featuring research on topics such as origin effects, consumption culture, and cross-cultural management, managers, consultants, academic researchers, practitioners, business educators, and advanced students in various disciplines will find the content within this publication to be beneficial.
This book presents theories and case studies for corporations in developed nations, including Japan, for designing strategies to maximize opportunities and minimize threats in business expansion into developing nations. The case studies featured here focus on Asia, including China and India, and use examples of Japanese manufacturers. Five case studies are provided, including Hitachi Construction Machinery and Shiseido in China and Maruti Suzuki in India. These cases facilitate the reader’s understanding of the business environments in emerging economies. This volume is especially recommended for business people responsible for international business development, particularly in China and India. In addition, the book serves as a useful resource for students in graduate-level courses in international management.
This is the first-ever book about product and country images. It discusses the nature and role and influence of product-country images in international marketing strategy and consumer behavior. Thousands of companies use country identifiers as part of their international marketing strategy, and hundreds of researchers have studied the ways in which these identifiers influence behavior. As markets become more international, the more prominently the origin of products will figure in sellers' and buyers' decisions. The time is ripe for practitioners and academicians to delve into the insights offered in this seminal volume so as to better prepare for meeting the competitive challenges of the global marketplace. Product-Country Images is a wide-ranging and state-of-the-art book offering specific information and case studies to further understanding of the various aspects of this complex topic.