Decide whether to enter Decide which markets to enter Decide how to enter Plan marketing programs Plan marketing organization
.the real issue here is what role national boundaries play in a firms strategic planning process. International Marketing Physical Environment Climate, topography, resources US has big products
Economic Environment Population, industry structure, stage of development Lack of wholesalers in developing countries
International Marketing Political-Legal Environment
Advertising restrictions
Tariffs/non-tariff barriers
Patents/Trademark protection International Marketing Cultural Environment Language Attitudes Time Concepts Space Concepts How business is conducted Friendship International Marketing What influences the decision to enter? Stability of government Stability of currency Tariffs/non-tariff barriers Crime/corruption Protection of property rights/technology International Marketing How to enter:
Exporting Export excess capacity Simplest, most direct
Licensing/joint venture Firm in foreign market produces, distributes
International Marketing How to enter (cont.):
Subsidiaries Partly own firm in foreign market
Multinational As foreign investments grow, firm loses home country identity
Key is volume growth
International Marketing Which markets? Current market potential Future market potential versus risk Russia.?
Marketing Plan Standardize versus adapt for each market International Marketing Marketing Organization