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University of Central Punjab, Lahore
BY Prof. AMJAD HABIB MIRZA Business and Management Consultant
IN THE NAME OF ALLAH THE MOST BENEFICIENT, THE MOST MERCIFUL
GLOBAL MARKETING COURSE OUTLINE
GLOBAL MARKETING IS THE LOGICAL OFFSHOOT OF INTERNATIONAL MARKETING WITH A SUBBTLE DIFFERENCE GLOBAL MARKETING USHRED FROM THE ROLE AND APPROACH OF MNCs. HENCE GLOBAL MARKETING NEEDS A DIFFERENT STUDY, MAY BE WITH A LOT OF THINGS IN COMMON. GLOBAL MARKETING IS AN APPROACH OR A CONCEPT; HENCE WE NEED TO EXPLORE IT AS SUCH
TOPICAL OUTLINE INTRODUCTION TO GLOBAL MARKETING PLANNING IN GLOBAL MARKETING AND ITS SIGNIFICANCE STUDY OF GLOBAL ECONOMIC ENVIRONMENT STUDY OF GLOBAL SOCIAL AND CULTURAL ENVIRONMENT STUDY OF GLOBAL LEGAL AND REGULATORY ENVIRONMENT STUDY OF GLOBAL FOREIGN EXCHANGE ENVIRONMENT SOURCING DECISIONS AND VALUE CHAIN GLOBAL PRODUCT DECISIONS GLOBAL PRICING DECISIONS EXPORTING AND IMPORTING FUTURE OF GLOBAL ENVIRONMENT .
GRADE DISTRIBUTOIN ASSIGNMENTS 20% (TWO ASSINGS) QUIZ 10% (TWO QUIZ ) MIDTERM 30% END TERM 40 TOTAL 100 % CLASS PROCTOR Will assist the Professor RECOMMENDED BOOK GLOBAL MARKETING MANAGEMENT BY WARREN J. KEEGAN of Pace University .
1------Inaugural Lecture ------Inaugural GLOBAL MAKRKETING TO GLOBAL MARKETING INTRODUCTION .
unprecedented expansion took place world wide. Following the WW II. Singapore Australia and Canada. New economies came into being such as Japan. specially of those who had expansionist designs and agenda . Labour and Consumption shifted from place to place. Product. Hence global marketing and positioning became most important not from the success point of view but also from the very existence of firms. Korea. China.
We developed for 4 Ps approach the Product. NEW CONCEPTS From 1969 onwards the focus of business shifted from Product to Customer. the Price. the Placement and the Promotion. The objective however remained Profit. The newer concepts were: . This customer focus took us beyond the frontiers and made us broaden our approach horizon.
Search the Customer wherever and however he is Introduce potential customer with your product Do not be scared to encroach on cultural domains Make international environment objective rather than subjective .
THREE PRONG APPROACH IN MARKETING CUSTOMER VALUE AND VALUE EQUATION Create customer value of your customer with your product and then make it greater than that of competitive product .
CREATE COMPETITIVE AND DIFFERENTIAL ADVANTAGE Making a total product offere to the customer and create the difference .
FOCUS Create focus on markets as per their environment. rather than fighting with environment .
FROM DOMESTIC MARKETING TO GLOBAL MARKETING A HUNDRED YEAR JOURNEY .
Domestic Marketing When marketing was done within a city of province or even on national scale. It depend on the product and its transportation .
Export Marketing When the product moved to places beyond the political frontiers due to surplus or price advantage .
but the focus remained on Product and Profits . MULTINATIONAL MARKETING When the exports started to many countries.
MARKETING When the focus shifted from Product to environment and product was amended to suit the environment ======================= GLOBAL .
FACTORS THAT LEADS TO GLOBAL MARKETING .
MARKET NEED----beverages NEED----beverages TECHNOLOGY---commercial reality TECHNOLOGY---commercial COSTS theory of comparative costs QUALITY technological edge COMMUNICATION AND TRANSPORT GEO-POLITICAL LOCATION--geographical GEOLOCATION--geographical .
RESTRAINT FACTORS .
MARKET DIFFERENCE CULTURAL BARRIERS RELIGIOUS DIVIDE ORGANISATIONAL CULTURE NATIONAL CONTROL POLICIES POLITICAL UPHEAVALS .
REQUIREMENTS OF GLOBAL MARKETING PLANS GOBAL MARKETING PLAN REQUIRE THREE ESSENTIAL THINGS KNOWLEDGE OF THE MARKET AND MARKETING ENVIRONMENT KNOWLEDGE OF THE PRODUCT. PEOPLE AND COMPETITION KNOWLEDGE OF THE MARKETING FUNXTION AND PROCESS .
THIS SYSTEM HAS ADVANATAGES OF CENTRALIZED STRATEGY AND CONTROL .KINDS OF GLOBAL PLANS STANDARDIZED OR CENTRALISED PLANS THE PLAN IS PREPARED AT ONE POINT FOR THE ENTIRE GLOBE.
DECENTRALISED PLANS WHERE PLANS ARE PREPARED AT EACH TARGET MARKET OR COUNTRY OR TERRITORRY. IT HAS THE ADVANTAGES OF CLOSE TO LOCAL CONDITIONS .
INTERACTIVE PLANS IN SUCH TYPE WE USE MISED RATIO OF THE TWO ABOVE DEPENDS ON THE PRODUCT PLANNING HITECH CONSUMER ITEMS FOOD AND AGRICUTIRAL PRODUCT FASHION INDUSTRY ITEMS .
ELEMENTS OF PLANNING PROCESS ELEMENTS PCT OF STANDARDIZED 29% 9% 51% 20% 20% 33% 15% 17% 52% PRODUCT CHARACTER PACKAGING BRAND NAME RETAIL PRICING ADVERTISING MESSAGE SALES PROMOTION ROLE OF SALES FORCE MGT OF SALES FORCE TYPE OF RETAIL OUTLET THE BALANCE OF THE PERCENTAGE IS DECENTRALISED WITH A SMALL ELEMENT OF INTERACTIVE PLANNING ====================================== .
GLOBAL ECONOMIC ENVIRONMENT Capital movement, and not just commodity movements, have become a driving force Production has become uncoupled from employment The world economy is in control. The usual macro economic factors no more control economic environment
is moving within the countries with greater ease than before The so-called cold war between socialism soand capitalism is no more. Communism has gone dead within its own weight Global trade has assumed the trend of a global village. Mpvement of good and services are no more a peril or a problem as it was 100 years back
LOW INCOME COUNTRIES production is limited more reliance on agriculture and natural vegetation low literacy and technical know-how know heavy reliance on foreign aid political instability and immaturity
LOWER INCOME MIDDLE COUNTRIES expanding consumer goods market local production possible motivated labour & entrepreneurship .
UPPER INCOME COUNTRIES High technology Low number of people High education and technology High production of goods and services Peaceful and healthy environment .
GROUP OF SEVEN. LAFTA. ASEAN ETC . CATEGORIES BY POPULATION SOUTH ASIA AND FAR EAST AFRICAN CONTINENT SOUTH AMERICAN COUNTRIES AUSTRALIA CANADA NORTH AMERICA NAFTA.
Assignment NO 1 Write a note on Global Village. What is this concept? The write up should be of minimum two computer pages of font 12 size .
Economic Blocks and make their needs well known carry out extensive survey on people and other environmental factors identify products and your capability of production make bi-lateral trade agreements bidevelop infrastructure to boost trade and its development improve means of transport and communication . STUDY OF ECONOMIC ENVIRONMENT make a detailed study of Global Segments.
SRILANKA AND JAPAN Suppose . BANGLADESH. What kinds of bilateral trade agreements can you make with countries like PAKISTAN. Assignment your is a well developed country. INDIA.
The other salesman reported. The islands total population was some 500 people. we have a potential to sell 1000 pairs at least. they were not wearing any footwear. One salesman reported: we cant sell a piece.ANALYTICAL APPROACH TO CULTURE FACTOR Two footwear Salesmen went to a remote island in Pacific. people are not used to wearing footwear . if we make them aware of footwear .
Culture is one of the most prominent factors in global marketing. We can use culture the way we want and use it positively to our benefit Culture is a learned behavior of people passed on from generation to generation .
there ought to be understanding only Our perpetual system is extremely limited If we want to make ourselves effective.Approach We should understand the wisdom that we do not understand people even within ourselves. not even ourselves. . There is no element of misunderstanding. then we should not make foreign culture as a joke or a matter of bizarre. We must learn to draw our business advantage out of this.
We are all Sovereign States.LEGAL & REGULATORY ENVIRONMENT Though globally we are one and call ourselves a global village. yet there are laws and rules which differ. There are several kinds of laws: .
INTERNATIONAL NATIONAL LAWS LAWS LEGAL FRAMEWORK LOCAL AND REGULATORY LAWS TAX LAWS POLICIES AND RUGULATIONS .
INTERNATIONAL LAWS THESE ARE THESE LAWS AND BINDING FORCES. THESE LAWS ARE IN THE SHAPE OF ENACTMENTS. IN WHICH ALL NATIONS ARE BOUND TOGETHER. COVENANTS. CONVENTIONS. HUMAN RIGHTS LAWS.O . TRADE AND COMMERCIAL PRACTICES. SHIPPING LAWS. AGREEMENTS ETC AND RATIFIED BY U. SUCH ARE ENVIRONMENTAL LAWS.N.
THE SO-CALLED SOIRON CURTAIN WAS BROKEN IN CHINA AND SOVIET UNION. PRIOR TO 1990. . THESE LAWS COULD BE DIFFERENT IN MANY RESPECTS. THEY ARE MADE UNDER THE UMBRELLA OF SOVERIGNITY THEY ENJOY AS INDEPENDENT COUNTRIES. THEY CANNOT FRAME LAWS REPUGNENT TO WORLD ORDER.NATIONAL LAWS THESE LAWS ARE ENACTED BY THE GOVERNMENTS OF THESE COUNTRIES. BUT AFTER THE BREAKUP OF SOCIET UNION AND DOWN FALL OF COMMUNISM.
THEY ARE ALL BINDING ON LOCALS AND FOREIGNERS ALIKE. LAWS ARE BROADLY OF TWO KINDS: BRITISH ORIENTED AMERCIAN ORIENTED THESE TWO NATURES OF LAWS DIFFER IN WORDS AND APPROACH. LOANS. LAWS RELATED TO AGENY. . COMPANYS LAW. BANKING AND BANK PRACTICES. PAYMENTS. TRANSACTIONAL LAWS ETC. NEGOTIABLE INSTRUMENTS ACT. MERCANTILE LAWS ARE ALL OVER MORE OR LESS THE SAME CONTRACT ACT. SALES OF GOODS ACT. BROKERAGE. BUT THE SPIRIT OF THESE LAWS ARE THE SAME. PARTNERSHIP ACT.
LABOUR LAWS UNDER GENEVA CONVENTIONS AND ILO OF UN REGULATIONS .THEN THERE ARE ARBITRATION LAWS AND CONFLICT RESOLUTION.
THEN THERE ARE POLICIES FINANCE POLICIES TRADE POLICIES COMMERCIAL POLICIES AND LAWS AGRICUTLTURAL POLICIES AND LAWS INDUSTIRIAL POLICIES VALIDATION POLICIES FOREIGN INVESTMENT POLICIES .
THEN THERE ARE TAX LAWS CORPORATE TAX REGULATIONS REPATRIATION OF INVESTMENTS AND PROFITS INDIVIDUAL TAXES LOCAL TAXES .
BUILDING GLOBAL BUSINESS. WE HAVE TO ABIDE BY THESE NATIONAL AND INTERNATIONAL LAWS WE CALL THEM REGULATORY FRAMEWORK WE MUST LEARN TO ACCEPT THEM AS THEY ARE AND CANNOT IMPOSE OUR LAWS WHEN .
A GOOD PART OF THE WORLD IS REGULATED BY SHARIAH AND ISLAMIC LAWS HENCE THESE LAWS ARE TO BE STRICTLY ADHERED TO REGARDLESS OF ONES BELEIF AND DOCTRINE .
ACCORDING TO INTERNATIONAL JURISPRUDENCE. . INTERNATIONAL LAWS ARE APPLICABLE TO ALL NATIONS WITH OR WITHOUT CONSENT---IT IS A PART OF UNO CONSENT---IT CHARTER. EVERY BODY IS UNDER THE LAW OF THE LAND AND NOT HIS OR HER LAWS AND BELIEFS OR CONSENT.
SOME OF THE INTERNATIONAL BUSINESS ISSUES PATENT LAW BRIBERY AND COMMERCIAL CORRUPTION AND CORRUPY PRACTICES LIBELLING LAWS FOREIGN EXCHAGE PRACTICES MONEY LAUNDERING .
ANOTHER LECTURE .
Without these liquid we cannot transact trade.FINANCIAL ENVIRONMENT Finance is like a lubricant in a machine. We are far from barter system Finance involves: understanding means of exchange certain financial decision creating parity on exchange certain repercussions and complications involved in rate of exchange fluctuation .
with a lot different back ground and policies. Each country has its own currency. GOLD it cannot be as there is no assurance of gold. hence foreign currency. The transaction cannot be made or even parity cannot be attained unless both the currencies are translated into gold or another stable currency. In globe we have dollar basket which is a common denominator. .
we financial agreements because US Dollar itself fluctuates. This currency market is governed by the rule of supply and demand. And there is what we call International currency market There are spot rates---means immediate rates---means rate of exchange and there are forward transactions. which means exchange in terms of dollar is fixed in advance. On the basis of this common denominator. . This establishes Purchasing Power Parity (PPP).
Bank of England works as a centre of WORLD financial market .
IMPLICATIONS ON BUSINESS DUE TO EXCHANGE RATE FLUCTUATIONS .
That is in terms of US Dollars .EXCHANGE RATE FLUCTUATIONS Makes import and export rate cheaper or expensive EXCHANGE RATE EXPOSURE The company profit or loss depends upon not only in terms of local currency but also its ability to stand in the world markets.
We must learn to adjust our costs and profits and there fore prices according to exchange rates. We determine our prices according to: FOREIGN STOCK INVESTMENTS REPATRIATION OF FOREIGN EXCHANGE BY EXPATS IMPORT BILL EXPORT EARNINGS COSTS OF INFRASTRUCTURAL PROJECTS .
segmentation is done today on variety of ways and methods .Next lecture GLOBAL MARKET SEGMENTATION AND TARGETING Market segmentation is one of the most difficult task in global marketing. Depending on the nature of your product. It dates back to ancient traders as well.
ecuation and occupation PSYCHOGRAPHIC Segmentation si done on the basis of attitude. income level. buying power. DEMOGRAPHIC METHOD Means segmentation is done on age. lifestyles and values BEHAVIORIAL On the basis of how people use or consume product and how do they react to it? . gender.
Global segmentation should be done carefully firstly to make more penetration in the world and secondly to avoid wasting time and take a competitive edge .
There are three methods: . It means to identifying and evaluating consumers on a predetermined basis.GLOBAL TARGETING It means focusing your attention to specific markets and concentration once it has been done.
but they have acceptance and response to certain kind of goods and also their sources. For example. 1 CONSUMER TARGETING This targeting is done on the size and potential growth in the market market 2 POTENTIAL COMPETITION How vulnerable is this market to competitors products 3 COMPATBILITY AND FEASIBILITY This is how much political and cultural alliance is with the market? Many countries may have different cultures. we have softness of goods from UK in Pakistan .
GATT General Agreement of Trade and Tariff FREE TRADE AREAS----Nafta. Lafta. ECM AREAS----Nafta. ASEAN CONTRIES Association of South East Asian Nations CARICOM Carribean Consumer and Common Market .
Social and Cultural Relations . ADVANTAGES OF SEGMENTATION & TARGETING Available Statistics Cultural compatibility of Information Open Dialogue and Relationship Regional Proximity Travel Ease.
Next Lecture .
we must plan which market we must tner and target and make cound planning visvisà-vis entry and expansion .GLOBAL MARKET ENTRY AND EXPANSION We begin with marketing now. We discussed market segmentation and having done that.
There are several methods and depending on the nature of the product. the method we must enter the country. we decide which which method we employ/ How should we execute market plan? The simple decision is Direct Marketing or through Agents or third party? . We must establish objectives.and of course profitability By Entry we mean. Volume share that we aim at.
Take care of your importers and their deals and commitment. We export cotton and cotton yarn to textile manufacturing countries. One of the advantages oif exporting is that it is simple affair to handle.VARIOUS METHODS OF ENTRY EXPORTING It is an age old method and perhaps tadictional and old Exporting is to sell directly to the local parties of that country or to consumers who use the product. We can always increase our exports by finding new markets. but we can hardly do anything ins the same market . But exporting has limited expansion scope. Exporting is very simple and low-caost initiative. It does not lowinvlolve manufacturing overhead abroad.
We authorize foreign agents to manufacture under a licence agreement under an agreed technological input and brand image. However. . We have numerous complaints of abuse of conditions and even dissolution of agreements. Its only overhead is policing the conditions of licencing agreement.LICENSING Licensing is one step ahead of exporting. it presupposes good relations and trust on one another. Licensing is a very neat and clean way of global marketing.
FRANCHISING For the franchisor. . The franchisor's success is the success of the franchisees. The franchisee is said to have a greater incentive than a direct employee because he or she has a direct stake in the business. the franchise is an alternative to building 'chain stores' to distribute goods and avoid investment and liability over a chain.
Businesses .for which franchising works best have the following characteristics: Businesses with a good track record of profitability. Businesses which are easily duplicated.
with premature cancellations or terminations of most contracts bearing serious consequences for franchisees. specific "territory" or area surrounding its location. One franchisee may manage several such locations. franchise usually lasts for a fixed time period (broken down into shorter periods. and serves a renewal). . Agreements typically last from five to thirty years. which each require renewal).
JVs integrate value chain strengths such as manufacturing strength with international exporting expertise JVs are a direct investment along with other nations interst in business. It calls for enhanced technological advantage . JOINT VENTURES JVs overcome policing and is considered as advanced method of global marketing.
Some of the famous JVs are: GM/ TOYOTA Texas Instrument / Kobe Steel AT & T / MISTSHUBISHI JVs depend upon the product kind time and situation world wide .
The most glorious example is that of ASWAN DAM in Egypt. . It is 100 pct ownership of a project on foreign land. This method entails various financial and entrepreneurial challenges.OWNERSHIP This is the most advanced method.
CLOTHING AND PERSONAL CARE items PHARMACUETICALS CONSUMERS PRODUCTS MEDIA AND ENTERTAINMENT INFRA-STRUCTURAL BIG PROJECTS INFRAAMUSEMENT PARKS AUTOMOBILE AND RELATED PROJECTS FASHION WEAR COSMETICS AND CLEANSING PRODUCTS .USUAL PRODUCTS WHERE ABOVE METHODS ARE EMPLOYED FOOD AND BEVERAGES APPAREL.
MARKET EXPANSION STRATEGIES There are two methods of expansion One is concentration in the same market and diversifying Second is to find new markets Again it depends of the nature of product. the investment involved and technological edge .
MARKET POSITIONING We have to find answers to the following questions is your country condition comfortable and stable? Are there avenues of diversification? Does your condition allow you to financially expand and technically feasible? Will expansion strengthen your current position? Will expansion give you more positive or negative exposure? Are your political relations likely to be good in long run of time? What is each other geo-political condition? geo--------------------------------------------------------- .
WHAT IS PRODUCT? As in marketing PRODUCT? Product is defined in physical attributes weight. BUT LET US UNDERSTAND PRODUCT OUR WAY. dimension. and material used.PRODUCT DECISIONS YOU MAY HAVE STUDIED PRODUCT BEFORE. But we go into some greater details .
It is used for recreation. we say it is 17 feet long. BMW. We say. It is a means of transport. Product converts to need or desire. It is used for plying people to works and back. We apply to its functions. We even don t call it car. shape and even contour. style. We then have brands of cars. It fulfills many needs. For example we talk of a car. This description is limited to physical attributes only. Product is classified into variety of needs . Toyota.Color. Honda. are you mobile . 7 feet wide and weighs 5000 lbs.
the product is developed as a local product meant for local market. However. to convert into a global market on the basis of need . technology.ON GLOBAL BASIS LOCAL PRODUCT Dimensionally. cost etc bring superb advantage locally. skills. raw material.
How? * technological advantage * material advantage * cost of production advantage * need of good quality and lasting TV in other countries . TV for example is developed by Sony locally. Soon Sony too strides towards becoming a global product.
It was the need of adhesives and sealants in other countries which gave them simple comparative cost and price advantage . Sony became soon a global product. Another example is Locktite Corporation. It manufactures adhesives and sealants. 90 percent of product is sold in other countries than local and so does it profit come from overseas.
Walkman.Some of the other Global Products Sony. Pizzas etc The major reasons behind are: uniqueness. workman ship . Locktite. technological advantage. Burgers. CD players.
FROZEN FOOD IS NOT USED.IN SOME COUNTRIES. THIS IS TRUE IN LOWER INCOME COUNTRIES. PRESERVATION OF FOOD IS NOT PART OF THEIR CULTURE . REFRIGRATOR IS A PRESTIGE ITEM IN OTHER COUNTRIES. INSTEAD FRESH VEGETABLES. IN SOME COUNTRIES.
THEY BECOME SALIENT POINTS IN SELLING AND ESTABLISHING PRODUCT . PRICE IS ALSO CONSIDERED IMPORTANT IN SOME PARTS. HOWEVER. DURABILITY AND QUALITY OF PRODUCT IS COMMON FACTOR.
others vary their positioning based on local need. We do not have such culture in Pakistan. by making their jeans look like rugged. has the image of rugged users of levi by the cowboys in USA. Some brands have an image concept. . Levi for example.GLOBAL BRANDING Every brand has it strategic position. Hence Levi uses fashion as its image.
where time is of great significance. Global branding is done on country to country. Mcdonalds uses fast food as their symbol of sales in foreign countries. it is addressed to youngsters and kids. we used same marketing approach as we use in domestic marketing . Brands are established with the help of publicity and advertisement. depends on need and desires according to culture. But in Pakistan. One might say.
SATURATION LEVEL OF PRODUCTS In some countries saturation level of products have reached. Then there is dramatic turnaround of lifestyle. They have taken to wooden floors. vacuum cleaner has gone out dated because people no more use carpets. All vacuum makers are now concentrating on Holland and other countries . For example in Germany and France.
PRODUCT DECISIONS PRODUCT MUST BE CAMPATIBLE WITH LOCAL CULTURE. LIFESTLE AND NATURE OF THE PEOPLE PRODUCT NEEDS TO BE ALTERED TO MATCH LOCAL CONDITIONS COST OF THE PRODUCT MUST BE WORKED OUT CAREFULLY .
PRODUCT SHOULD BE IN CONSISTENT WITH THE RELIGIONS OF THE COUNTRY INTRODUCE MULTI-PRODUCTS SYSTEM MULTI ========================= .
WHICH SET THE PRICE FLOOR OR THE MINIMUM PRICE 2 THE COMPETITIVE PRICE OF COMPARABLE PRODUCT/S 3 THE EXPECTED MARGINS FROM OPERATION .PRICING DECISIONS THERE ARE THREE FACTORS AROUND WHICH PRICING BOUNDARIES ARE FIXED 1 THE PRODUCT COST.
WE HAVE THE FOLLOWING QUESTIONS 1 2 3 4 5 6 7 Does the price reflect the product quality? Is the price competitive? Should we pursue market penetration? What types of discounts or allowances be offered to international customers? Should the price differ from segment to segment? Is the price welcome in host country? What ingresients can we use locally to matter our coist and therefore prices? .
PRICING STRATEGIES 1 2 3 Determine the Elasticity of Demand in the host country. depending on entry strategy ======================== . Inelasticity will assist in setting higher prices Evaluate fixed and variable costs Identify and associate all costs related to marketing process.
CHANNEL DISTRIRIBUTION DECISION AMA defines Channel Distributions as oganized network of agencies and institutions. with each otherslink between the producers and consumers and complete the task of marketing . in combination. which.
the standardization. The income level. the product nature. We must establish distinct characteristics of product and customers. shopping habits. Distributions channels highly differ from country to country. their lifestyles.and reaction to various marketing methods. Similarly. the presihability of the product etc all determine the channel decisions .
Small shops of 1000 to 4000 sq ft .TERMINOLOGY 1 HYPER MARKETS---selling store of MARKETS---selling averaging 2.000 sq ft 3 SUPER MARKETS Selling stores with an average of 30 to 40.00. Selling stores of avergaing 70.000 sq ft 4 SUPERRTES.000 sq ft 2 DISCOUNT STORES.
CHANNELS IN LDCS LOTS OF PEOPLE ARE ENGAGED IN PROCESS TOO MANY INTERMEDIARIES SMALL STORES USUALLY LESS NUMBER OF LAWS REGULATING LESS SPECIALIZATION .
CHANNEL DECISIONS Introduce Innovations and stress on training Introduce direct marketing retailing Avoid change of hands too many Set your own standards ======================== .
EXPORTS AND IMPORTS THE CRUX OF GLOBAL MARKETING Exports and Imports are two sides of the same coin. Hence has ti import even cooking oil and fresh vegetables to make human life possible. Hence this exchange takes place to equate the situation. . Saudia Arabia has abundant of oil but little or no agriculture. as we have learnt globe is unequal in products and natural resources. By export we mean saending good out of your frontiers and importing means to bring them in.
Export marketing involves all three. it price.DIFFERENCE BETWEEN SELLING AND MARKETING IN EXPORTS Export selling does not involve tailaoring of product. Export marketing includes: 1 understanding of environment 2 the application of all conceptual and analytical tools of marketing 3 the use of marketing research and identification of potential market 4 product design decisions and advertising and promotional tools 5 it involves organizational set up and controls . or its promotion and advertising.
THIS IS GLOBAL MARKETING
GLOBAL MARKETING ACTIVITIES
Global marketing has assumed unprecedented proportion. Japan is thw world leader with over 1500 billion US $ surplus to wards USA alone and with nearly 750 billion US $s from the rest of the world. Surplus is when exports are more than imports and Japan does not have a litre of oil reserve or bauxite, or steel or zinc, the basic ingredient of manufacturing. They even import their breakfast
regulate exports and imports through a commercial policy, declared annually. Imports are regulated through cess, import duty, custom duty and excise. While exports are encouraged to enhance productivity and employment through incentive schemes. There are tariff and nonnon-tarriff barriers. These are permits and grants to importers and exporter following the Protectionist Policy
p1. p2. p3. p4 then exporting TRTR-cost M stands for potential market C for competitive offerings P1 for product P2 for price P3 for advertising and promotion P4 distribution TR FOR TOTAL REVENUE . c.EXPORT DECISIONS SIGMA m.
QUESTIONS WHO BUYS OUR PRODUCT? WHO DOES NOT BUY OUR PRODUCT AND WHY? WHAT NEEDS OUR PRODUCT SERVE? WHAT PROBLEMS OUR PRODUCT SOLVE? WHAT IS CUSTOMER CURRENTLY USING? WHAT PRICE ARE THEY BUYING AT? WHERE AND WHY IS OUR PRODUCT PURCHASED? .
The END ALHAMDOLILLAH THIS IS THE CONCLUSION OF GLBAL MARKETING COURSE FOR YOUR PERSISTENCE THE BEGINNING HAS JUST BEGUN THANKS .
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