In dieser Lektion befinden sich 35 Karteikarten
Strategic International Marketing 1
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- International trade All exchanges of goods & services crossing national borders which influence the balance of payment of a country
- Reasons for international trade - Cost differences- Increase in competitiveness- Technology development (new product ideas)- Deregulation- Subsidies- Strategic behaviour of organizations
- What is strategic international marketing? All effort to find and satisfy customers’ needs and wants outside the domestic market in order to achieve a profitable position in the long term
- What is Global Marketing? - Implementing marketing activities across global markets- Find and satisfy global customers- Seek the balance between standardization and adaption- Obtain a long term relationship with these customers- ...
- The nine strategic windows model Industry globalism (local, potentially global, global)Preparedness for internationalization (Immature, Adolescent, Mature)1. Stay at home2. Consolidate your export markets3. Enter new business4. Seek ...
- EPRG framework Ethnocentrico Home market is leadingPolycentrico Differentiation based on uniqueness of countriesRegiocentrico The world consists of regionsGeocentrico The world as on market place
- Core global business strategy Transferring global know-how and ‘best practices’ between countries with feedback to HQ
- Glocalization "Think global, act local"
- Forces of global integration - Deregulation- Global customers- Relationship management- Standardized worldwide technology- Worldwide markets- Worldwide communication- Global cost drivers
- Market responsiveness - Cultural differences- Regionalism / Protectionism- Globalization
- Value Chain - Firm´s activities providing value for the customers and profit for the company
- Internationalization motives Proactive motives- profit and growth goals- managerial urge- unique product- market information- Economies of scale- tax benefits Reactive motives- competitive pressures- domestic market: small & saturated- ...
- International triggers Internal triggers- Perceptive (aufmerksames) management- specific internal event- Importing as inward (inneres) internationalization External triggers- market demand- competing firms- trade associations- ...
- Consequences internationalization - Legal- Organisational- Logistical- Marketing- Technical- Financial- Managerial
- Internationalization barriers - General market risks (market distance, competition, cultural differences)- commercial risks (exchange rate fluctuations, delays, damage of export)- political risks (export policies, government restrictions, ...
- The Uppsala internationalization model Stage 1: No regular exportsStage 2: Export via independent representativesStage 3: Establishment of foreign sales subsidiaryStage 4: Foreign production / manufacturing units
- Transaction cost analysis (TCA) model If the "friction" between buyer and seller is higher than through an internal hierarchical system, then the firm should internalize
- The network model - Firms are linked with each other based on a certain level of dependency- Willingness to exchange relationships with other players in the network- When entering a network, internationalization processes ...
- Born global Companies that think globally the day they were "born"
- "How do firms create and develop competitive advantages ... 1. Analysis of national competitiveness (Porter´s Diamond -> macro level)2. Competition analysis in an industry(Porter´s 5 forces -> meso level)3. Value chain analysis (micro level)
- Porter´s Diamond - Factor conditions- Demand conditions- Related and supporting industries- Firm strategy structure and rivalry- Government
- Porter´s five forces - Market competitors- Suppliers- Buyers- Substitutes- New entrants
- Value Chain analysis Looking at the firm´s core competence
- Competitive triangle 1. Perceived Value2. Firm related costs
- Blue Ocean Strategy - Environment where products are not yet well defined- Competitors are not structured- Market is relatively unknown- Heat to head competition is avoided
- Political risks - Ownership risk- Operating risk- Transfer riskEffects can be classified into: Import restriction, Exchange, Market and Price controls
- Trade barriers - To protect domestic producers OR to generate revenue- Tariff barriers (direct taxes)- Non-tariff barriers (quotas, embargos, administrative delays, local content requirements)
- Developing Trade Areas NAFTA: North American Free Trade Area (US, Canada, Mexico)Mercosur: Mercado Común del Sur (Brazil, Paraguay, Uruguay, Argentina)APEC: Asian-Pacific Economic Cooperation (23 Asia-pacific nations)ASEAN: ...
- The international market selection process Step 1+2 Defining criteria and segmentsStep 3 Screening of marketsStep 4 micro segmantation (subsegments)- demographic- lifestyles- consumer motivation- buyer behaviour
- Screening of the market Preliminary screeninga) Macro oriented: GNP, population, export restrictionsb) Political risk (BERI index) Business Environment Risk intelligence Fine grained screeninga) Industry level orientedb) Market ...
- Market expansion strategies Incremental strategy- entering first a single key market in order to build up experience in international operations, and then entering other markets one after the other (waterfall approach) Simultaneous ...
- Factors that influencing the choice of entry - Internal factors (firm size, international experience, product, service)- External factors (country risk, demand uncertainty, market size and growth, direct and indirect trade barriers, intensity of ...
- Different entry modes - Export modesLow control, low risk, high flexibility- Intermediate modesShared control and risk, split ownership- Hierarchical modesHigh control, high risk, low flexibility
- Export modes Indirect exports (using independent exp. org. in own country for third country)- export buying agent- broker (Makler)- export management company- trading company- piggyback (containers on rail) - Direct ...
- Intermedia modes - Contract manufacturing (manufacturing is outsourced to an external partner)- Licensing (right to the licensee against payment to manufacture a certain product based on a patent)- Franchising (right ...