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In many ways, domestic marketing and international marketing are similar. They are based on the same fundamental principles of using price, product, place and promotion to craft appeals to customers that will enhance sales. There are certain facets of international marketing, however, that are slightly different. Marketers need to be aware of what these similarities and differences are.
In terms of similarities, the fundamental things that a company must pay attention to are the same. The company must understand its target market, have a strong distribution strategy, set its price effectiveness and it is must promote the product with a message that appeals to the target market (Nag, n.d). The mechanics of these things, however, can be considerably different in foreign markets. IN particular, where consumer tastes and ability to pay are different, or where channels for either distribution or marketing communications are different, a company can be…… [Read More]
Ethnocentism is an attitude of supeioity, in a cultual sense, whee one thinks that one's cultue is supeio to the othes'. Ethnocentism is the basis of the acism and nationalism and the tibalism sentiments that exist in the wold of humans. (Definition of ethnocentism) In addition, ethnocenticity is geneally accompanied by a feeling that because one's own cultue is the bets, it is easy to feel contempt and hated towads othe cultues that exist, and also, because of this feeling, the wold is also seen though ose tinted glasses. (Speak Soft, Speak Sue) This means that since ou own cultue is the best, it automatically means that all the othes must fit into the expectations that ae a pat and pacel of ou cultue, especially since thei cultue is so infeio to ous. Hee it has to be mentioned that the concept of Ethnocentism cannot be said to…… [Read More]
The beginning of the introduction is a bit clumsy, but this is a style issue and not material to the paper. The subject is introduced well. The authors do a good job of framing the problem. It is easy to understand that the debate is between two options that are essentially mutually exclusive in using a consistent global marketing program vs. tailoring the marketing program for each country or culture. The authors explain their methodology well, and it is easy to understand as the reader. The brevity and lack of tangential rambling in the introduction is appreciated.
The objective of the study is to synthesize the existing body of literature. This body is extensive, and the authors believe that there have been very few direct comparisons between the two international marketing approaches. Their aim is to bridge that gap in the research, so that there is more of…… [Read More]
One of the fastest growing and most profitable investment opportunities open to international entrepreneurs today is the possibility of constructing entities known as 'virtual corporations' or 'hollow corporations.' Such companies are designed to capitalize on outsourcers' points of leverage to achieve greater efficiencies, lower costs, and access to resources, thus increasing one's own competitive advantage. In other words, because of one's proximity to particular goods, without much capital, by constructing a 'hollow corporation' one may act as an effective 'middle person' or distribution center for goods. These are usually goods desired in another area of the world that are plentiful near one's own location, but not plentiful in another location. (Commercial Accounts, November 11, 2001, Website Accessed November 29, 2002, (http://www.thepldgroup.com/commercial%20accounts.htm) Of course, the reverse is also true. One can also import goods from abroad, with the intent of facilitating distribution of these goods to a scarce section…… [Read More]
The Future Automotive Market Analysis in Europe and North America
Driving in Europe and in the United States has a lot of different things. For the different shape of geographical condition, available funding and different approaches in policies, there would be differences in the type of vehicle people choose, or the type of public transportation the government would provide for the whole community.
There is no doubt for the cultural factors that may give an impact to what people choose. Car manufacturers also take studies for the two different communities. As more tendencies to people in Europe and the U.S. develop their own preferences in automobile types and accessories, they would also need to target the market to suit the needs of the different communities.
The Europeans and The Small Cars
Chandler said that road infrastructures apparently become one of the challenging factors for car manufacturers to decide…… [Read More]
International Marketing Comparison of Spain and Czech Republic
This paper is written out in the form of a comparison between the two countries of Spain and Czech Republic. In all the sub-heads, the situation in Spain is first discussed and that is followed by the relevant description about the Czech Republic. In all reasonableness, Spain has been a poor country with low employment, and this is being solved with temporary employment of the citizens. The unemployment was as high as 20%, and this certainly does not give much hope for a new product. The unemployment problem has been somewhat controlled, but this has led to a very high temporary employment, and these people are very poorly paid, and this also does not give much hope for purchases. Comparatively, the Czech Republic has been a country with a stronger economy due to the developments of the country over the last fifteen…… [Read More]
There are several blunders that have occurred with respect to international marketing. Some come under the category of basic linguistic misunderstanding, but others are more catastrophic in nature, causing offense in addition to costing the company sales. In some cases, the blunder gets back to the home market and does damage there, as was the experience that Nestle had in Africa. This report will outline some of the blunders of the past and how international marketers can avoid these sorts of blunders in the future.
Some international marketing blunders are simply issues of translation, or mistranslation. Google Translate does not get the job done -- languages vary from region to region, and international marketers can get caught by idioms and slang very easily. An obvious example was when Chevy launched the Nova in Mexico in the 70s. "No va," in Spanish, of course means "doesn't go," probably…… [Read More]
International growth strategies bring a number of challenges for business organizations. They not only have to analyze the business environment in the new markets, but also formulate effective international marketing strategies which enable them to compete in a competitive and profitable way (Cadle, Paul, & Turner, 2010). International expansion may become a disaster if an organization tries to penetrate the market without a careful analysis of the external environment as well as of its own internal strengths and competencies (Frederic, Agnes, & John, 2011). A company can either choose to export its products in the new markets or setup its manufacturing units keeping in view the feasibility of its business in those markets.
This paper acquaints the reader with the international marketing strategies of DaimlerChrysler for its Smart Car brand which is to be introduced in a new Asian market. The major focus of the paper is to…… [Read More]
A situation analysis is termed as a foundation to be used for a marketing plan. A situation analysis normally includes an examination of both the internal and external factors that can affect a business. A situation analysis creates an overview of the organization that acts as a guide to understanding the factors that influence the future of an organization (Lorette, 2010). The paper will look at the situation analysis for Starbucks's coffee for entry into India as the target market.
Starbuck's international profile
Starbucks Corporation is a global coffee chain house and companies which started in 1971 as a roaster and a retailer of ground coffee, whole bean coffee and tea in Seattle. The mission of the company is "to inspire and nature the human spirit-one cup and one neighbor at a time." Over the years Starbucks has undergone a rapid expansion and now it is the largest…… [Read More]
Technology is helping in the globalization of world economy in more ways than one with the effect that consumers almost everywhere want global products regardless of whether they live in Los Angeles or remote Africa. The forces driving globalization are (i) flow of information (ii) flow of people (iii) Technology: helping economies of scale with cheaper transportation makes global sourcing possible (iv) Globalization is helping attain lower cost as huge investments are needed for new product development and strategic alliances need global markets to deliver enough demand. (International Marketing in the Internet Age, n. d.)
Companies exploiting the potential of the Internet in the process of internationalization are able to capture international transactions and operational efficiencies in communication. The Internet has given these companies the capability to have an international presence of its brand. Apart from that companies felt the need of a web presence as a central element in…… [Read More]
The argument of one-size-fits-all branding fits with institutionally-based branding strategies (Harris, Attour, 2003) yet on a product or service-specific basis the need for having highly specific, targeted, localized branding strategy that aligns with the cultural norms, values and expectations of potential customers is crucial for trust to be created and sustained (Cayla, Arnould, 2008). In many Islamic nations there is a strict code of dress and adherence to religious more and values. The world-0famous singer Madonna during her tour this year of Indonesia, an Islamic nation that required the singer to wear long sleeves on stage and delete the more provocative dance routines from her show as religious and government officials said they were too offensive to the Islamic people of the country. This is one of the better known examples of just how sensitive and aware marketers need to be regarding the cultural and religious norms, values and perceptions…… [Read More]
International Marketing and Culture
Globalization has increased opportunities for international marketing and business for many companies that could not afford to do so in the past. Many researchers consider international marketing to be synonymous with exporting. However, they are not the same and international marketing is much more complex than simple exporting. When a company exports its goods, they already have a buyer. Many timesm this buyer is the local distributor for the goods and has to market to local clientele. The end distributor is immersed in the culture and already has an established business in the area. They already understand their market and the exporter is simply someone on the their supply chain. International marketing involves taking the place of the end distributor. This is a much more complex issue than simply being a step in someone else's supply chain. This research will support the thesis that establishing brand…… [Read More]
In this instance, they emphasize on the need for farmers to implement more environment friendly techniques (Groupe Danone website, 2008). Danone encountered a problem in omania, after some items were suspected to contain damaging chemicals. The immediate marketing campaign revolved around a local star, which emphasized that the products were being safely manufactured in proper facilities and anyone who desired to see this for themselves was invited to visit Danone omania.
Danone: Differences among the company's marketing strategies per region
The international marketing campaigns implemented by Danone only reveal slight differences, often materialized in approaches based on particular features of the market, the most common example being the campaign aimed to reassure the omanian consumers of Danone's high quality.
Danone: Similarities among the company's marketing strategies per region
All marketing campaigns are based on a message, this being the healthy life achieved through the consumption of healthy Danone products. Even…… [Read More]
International Marketing Dell
Technology and Computers market has become the important part of the entire global market. There are number of companies who have already stepped in to this business and thus made it highly competitive. The U.S. market is currently most crowded with the computer manufacturing companies. The major companies are HP, Lenova, Compaq, Apple and Dell.
Dell is one among these companies that has well thought out marketing strategies. These are the strategies that have taken this young company up to high levels of success. Dell Corporation brought the concept of direct marketing and just in time inventory that highly reduced the costs and provided high profits. It is due to these achievements that Dell is now competing with the leading players of the computer manufacturing market.
Dell is one of the largest computer hardware manufacturing American companies that also offer its services all around the…… [Read More]
It expalins why Botswana is very interested today in development of tourism and especially eco tourism in order to save existing natural features and resources to future generations: "he trade, hotels and restaurants sector has been growing by more than 10% per annum in recent years, showing the huge potential of tourism. Investment by the private sector in the Botswana economy as a whole has increased from P150m to P500m over the past ten years. ourism investment has increased even faster from P12m to P55m." (From ourism ripe for investment)
2. Identify any government tax or other financial incentive that may apply to a foreign (Service Sector) firm
oday government of Botswana provides a favorable investment climate for foreign investments that are ready to invest in non-mining sector of economy. Such practices according to the opinion of specialists will allow to create a developed infrastructure, will allow the country to…… [Read More]
The role of the augmented product component has significantly added differentiation and value to products that compete in highly commoditized and less differentiated markets. These include cell phones accessories, cell phone plans, and the pervasive use of customer service to drive up lifetime customer value and loyalty. Augmented components of products are also the guarantees, accessibility to technical and service support resources, and warranties delivered with the product itself.
This augmented component is typically the most abstract yet is the most critical for any product to achieve lasting differentiation.
Why is a "global brand" the firms most valuable asset?
The strongest asset any firm can have is a global brand because this equates to a global identity, and further, equates to a greater potential of capturing new customers through a higher level of awareness in global markets. A global brand is a critical catalyst for building awareness of the benefits…… [Read More]
However, because Rimmel is positioned above the bottom of the market, it could be a trade-up brand itself during economic upswings, as consumers leave their cheap local brands for a more prestigious and internationally recognized name like Rimmel.
The means by which Rimmel cosmetics are priced is appropriate for a company with its market strategy. Rimmel needs to have a good value proposition, which implies good quality and a relatively low price. The company has a strong established name and good celebrity endorsements, so it needs to separate itself from generic cosmetics with its pricing strategy, but its total sales figures and distribution strategy demand that Rimmel avoid luxury pricing and a high degree of exclusivity. As such, the company's pricing strategy at present are appropriate.
If anything, Rimmel should increase prices slightly in order to become firmly established as a premium provider within the mainstream cosmetics segment. The company…… [Read More]
If one company does liquidate its properties in Venezuela, this could potentially create an opportunity for another firm to acquire those properties and build market share. Such a strategy would make sense if the political risk decreased the purchase price and was believed to be either minor or short-term in nature. However, it is unlikely that a macroenvironment that one firm considers to be unfavorable would be considered favorable by another firm in the same industry. Only if there are specific conditions in the second firm that the first firm does not have -- in this case special connections to government would be one -- would it make sense for another hotel company to increase its presence in a market that was being abandoned by a close competitor.
The deciding factor, however, should be the balance between the costs of leaving Venezuela and the costs of re-entering the market at…… [Read More]
In general, the place of manufacture means little to the customers, except when the local producer adapts the products to suit local tastes, as has been the case with Rimmel in China. The place of manufacture is relevant to the company's workers however. Due to local regulations, the company often produces domestically. For example, Coty signed an agreement with a Chinese firm to manufacture Rimmel locally when the brand was launched in the Chinese market (Montague-Jones, 2008). These local producers become an important stakeholder, as do the governments of those nations that support the use of local producers.
Demands of the Market
The target market demands reasonable quality make-up at a reasonable price. For the most part, Rimmel is able to meet this demand. There are indications that certain products do not meet consumer demands with respect to quality. This indicates that place of manufacture can impact on customers as…… [Read More]
The U.S. companies have benefited from the cost reductions to labor, the significantly lower healthcare costs, and the lower compliance costs if they are privately held with subsidiaries in Mexico. They have also had to pay the price of protecting their factories and employees in an area known for rapid escalation of drug violence as well. In aggregate, between Mexican and U.S. companies, the latter is by far more ahead on both the NAFTA and Free Trade Area of the Americas agreements. As for the comparison of Mexican and U.S. workers, the Mexican workers have an opportunity to gain higher paying jobs and American workers have to contend with their skills becoming more commoditized and work less. The trade policy of the U.S. has been to promote the global relocation of highly commoditized, low risk industries out of the country, which has harmed employment in these sectors while in some…… [Read More]
Also, people will buy more of the items if properly advertised by using well-known soccer players.
Secondly Brazilians love beach and related sports, it is wise to focus on beach related items such as shorts, bikinis with traditional Brazilian flare. Thirdly, people will also prefer a small Brazilian flag tattooed over their accessories such as caps, gloves or shirts. It is very much preferred and brings a slight feeling of nationalism.
Now, let's have a look at the pricing strategy. Since Brazil is not a rich country, the firm should not introduce expensive or very expensive products in the beginning, "the price tag should be nominal that is affordable for the working class" (Marvin 124). "The firm should focus on gaining customer confidence first as a base for itself, it should lower the price of its products so that it can gain many buyers" (Wilson 112). The cheap labor is…… [Read More]
The company is not presently seeking major expansion of distribution points, but is rather focused on organic growth within its current strong markets. However, there is little concrete information from the company with regards to the state of its expansion plans.
Rimmel is based in London, and trades heavily on the image of London as a fashion center. London-based models are typically used to promote the brand (Kate Moss, for example) and the company utilizes the tag "the London look" in some of its promotions.
The manufacturing location of its products is virtually irrelevant in the company's marketing, with the possible exception of using local production to avoid duties and tariffs. Assembly is also largely irrelevant -- Rimmel is strictly focused in its marketing messages with the London association.
London is the central focus of the advertising, to the point where the products are explained in the context of different…… [Read More]
In other words while a business may decline in a market in one country, at the same moment the business may experience a decrease in another or perhaps several other countries. Therefore, to be a business on an international level offers a type of padding against sudden market declines that effectively destroy the business but instead there is a balance found within the business structure that survives the declines because those declines are offset by other increase of business in other markets throughout the world.
Using Customer Insights to Build Brand Loyalty and Increase Marketing OI (2004 Insight Driven Marketing -Accenture esearch eport [Online located at http://www.marketingpilot.com/downloads/White_Papers_&_eviews/Accentureeport.pdf]
Siegel, Phyllis (1997) Whatron Work/Life Integration Project http://www.caseplace.org/cases3117/cases_show.htm?docid=96436
Economies of Capacity and Speed: Choosing the most cost-effective disc drive size and PM to meet it requirements TP-525 • From: Seagate Global Product Marketing • May 2004 [Online available at http://www.seagate.com/docs/pdf/whitepaper/economies_capacity_spd_tp.pdf]
Seagate Expands…… [Read More]
However, the expatriate has the net advantage of significantly superior product knowledge and control, even if the costs of maintaining him are also higher. Foremost, the expatriate must be able to travel from the host country to the home country in order to conduct face-to-face meetings with his superiors and inform them of the progresses made. Traveling however consumes time and energy and the employee could become tired and unfocused. The need for a strong mind with high motivation and concentration skills becomes as such obvious (Honeycutt, Ford and Simintiras). Also, there is a strong need for the individual to be extremely well adjusted and capable to integrate within the new community. This is most important when "historically, multinational firms have been plagued by the problem of premature return of expatriate managers due to their inability to adapt to the culture of the host country" (Katz and Seifer, 1996). A…… [Read More]
International Marketing Plan
Although many countries have manufacturing facilities, each has benefits and drawbacks. When looking for a country to do business in, I considered costs related to manufacturing, transportation, export-import files, and tariffs. After choosing Costa Rica as my manufacturing provider, I further researched aspects of geographical, political, economic, and social nature in order to comfortably conduct business there. Lastly, I established my company, product, business, costs, revenues, and credit line in order to comfortably conduct business there.
Product manufacturing and distribution
Producing a product is not an easy task. There are many things to consider and decisions to make, such as cost, labor, and quality manufacturing. These questions, and other facets, need to be addressed, like the one which follow: Who will produce the product? What type of materials will be used to create the product. Where will this product be manufactured? Will the manufacturer be all inclusive…… [Read More]
S. For discerning travelers" by the Travel Channel. (ll labama, 2013, p.1) In addition, the World Fishing Network nominated Orange Beach, which is adjacent to Gulf Shores, the World Fishing Network's Ultimate Fishing Town.
II. Gulf Shores ttractions
Included in the attractions in Gulf Shores is the 'Gulf dventure Center at Gulf State Park'. This features a Hummingbird Zipline consisting of seven towers and six ziplines over the length of one mile. The Zipline provides a great point for "taking in spectacular views of the white sand beaches and crystal clear waters found only at Gulf State Park." (Gulf dventure Center, 2013) The following picture shows the ziplines at night.
Hummingbird Ziplines in Gulf Shores, labama
Source: Gulf dventure Center (2013)
Rather than construct the zipline towers with concrete and steel, the ziplines were constructed out of wooden poles and lumber which is much more eco-friendly and environmentally…… [Read More]
International Marketing -- South Korea Country Study
The primordial question at the basis of this study revolves around the attractiveness of South Korea to American investors. Otherwise put, is this country able to determine the American investor to launch business operations in this global part? In order to answer the posed question, a series of analyses will be conducted. Some of these will refer to the general context, whilst others will detail specific issues.
The country is located in the eastern part of Asia; enjoys a temperate climate and owns less than 20% arable land. South Korea is characterized by a tormented historic past, which explains well the differences emerged between the two regions of the Korean Peninsula. The total population of the country exceeds 48 million, and their life expectancy at birth is of almost 79 years. The interactions with the South Koreans are generally formal and follow protocols,…… [Read More]
Comparative advantage is when someone is better at something than someone else. In the context of economics, it is typically applied to trade. For example, if two countries are trading, they should each produce the good at which they have comparative advantage. The overall production of two countries producing to their respective comparative advantage will be higher than if they both produced to their domestic demand. Key to understanding comparative advantage is the idea of opportunity cost. Where resources are scarce, any use of resources for one purpose means that another purpose must be forgone. But if parties produce that in which they have comparative advantage, not only does overall production increase, but opportunity cost decreases (Landsburg, 2007).
The product life cycle theory is an entirely different theory, reflecting an entirely different subject. The product life cycle theory is focused on the idea that products start with an introductory…… [Read More]
International Marketing Perspective
What are the main factors that have contributed to Banyan Tree's success?
Banyan Tree's first success was finding a niche that the owners could exploit. As the case study says, they realized that there was an opening that they could use to gather guests who were above the level of the large hotel chains, but who did not want to spend the money required to spend a night in the most exclusive resorts. This price difference led to the owners forming the plan for their resort that was more reasonably priced than the large luxury resorts, but would give the customer more than the large hotel chains.
The next thing that they did was to realize what type of experience people were missing. First, people wanted a vacation experience that allowed them to be alone, like they had the space all to themselves, while they were positioned…… [Read More]
International Marketing Communication Perspective
There are challenges that face organizations, which engage in global marketing. This form of cross border marketing involves diversity cultural backgrounds. It is pertinent to note that each country has distinctive needs relating to producing goods for them. International marketing requires a comprehensive understanding of the needs of each target market. This study provides a comprehensive review of the differences and similarities that exist between the marketing needs of UAE and Indonesia (Govers, 2009).
The aim of marketing communication is to convey the accurate information to the targeted group of people. In Indonesia and UAE, the populations are largely Muslim. The right choices to be made as a marketer have to be made to ensure any message delivered to the people is helpful to the brand being marketed. These require a communication strategy when addressing the target market. A communication strategy will help in…… [Read More]
eanie-the Flavor Company-was born in the homely garage of Mark Porteus in February 2009. It was the brainchild of Chris Tarling and Mark Porteus, former employees of oater's Coffee. As more investors joined the company, the eanies brand was officially launched and registered. As operations began to expand out of the scope of Mark's garage, a 1000 square foot space was rented as an economical alternative in May 2009. Four varieties of flavored instant coffee were introduced in the same month. eanies truly became an "international" brand when it commenced exporting its product for the coffee lovers in Poland. With business growing further, the firm moved to a 2000 square foot space at the end of the winter in 2010. Growth in the digital realm is of prior importance to eanies and it launched its user friendly, fully integrated e commerce website that allows users to create a profile…… [Read More]
Kotabe, of Kotabe and Helsen (2001), Global Marketing Management, John Wiley & Sons, New York, discusses timing of product entry decisions related to global rollout and simultaneous entry. He discusses two models of strategy related to entry timing. Discuss these strategies and identify a company, product, and situation for each strategy where it would be better to use one as opposed to the other.
Why might one strategy be better than the other?
Having a first mover or pioneer advantage when entering a market may seem to give a new product an automatic advantage when embarking upon a new enterprise. In other words, to be first in a new or developing market, when determining one's entry timing would seem to give one an advantage over later entrants. However, there is also an advantage to be had competitively in what is known as a 'later mover' advantage, where, as the old…… [Read More]
It seems as if the tourism in Malaysia is heaving influenced by many factors including disease, environmental problems and terrorism. The average hotel occupancy in Penang has fluctuated between 60% in 1998 and 53% in 2002. Because of this fluctuation hotels often find themselves with an over abundance of rooms. Many hotels have competed to offer discounts (as much as 30% of the original rack rate). One all inclusive hotel that was priced at more than $700 per room had to lower its rate by 70% because of low occupancy (Kasim, 2007).
In looking at the virtual reference shelf of the Library of Congress it was interesting to see that there were several resources that could be used to investigate the topic of international marketing and its relation to trade barriers. Once source that I found that could be used for research purposes, pertains to data related to international trade.…… [Read More]
Globalization and international marketing ethics problems" by Yucel, Elibol and Da-delen was published in the International Research Journal of Finance and Economics in 2009. The outlines some of the ethical issues that marketers must deal with when they operate internationally. The authors seek to present guidelines to assist marketers in behaving ethically. The authors take the view that a uniform code of ethics should be adopted by either the TO or the UN to help guide ethical practice for international marketers.
The significance of the article is that it recognizes the complexity of the issue of ethics in international market. The authors realize that when different countries have different ethical systems, there are going to be instances where conflict arises. hile this may not have been a significant issue for much of human history, in a globalized environment this issue is significant. The others provide a variety of philosophical perspectives…… [Read More]
Is it ethical to encourage Hindus to eat beef-containing McDonald's products, even if the consumer is free to choose to do so? Is it ethical to alter the healthy French relationship to food, to sell quickly consumed 'food on the go' burgers in that nation? Or to market beauty products in Asia that stress the loveliness of the wider estern eye-shape that Asian women cannot attain, without plastic surgery? If the marketing campaign is fully effective, the culture of the nation will be changed, even though stockholders may profit.
Any business boss can make a strong case for the view that agonizing over the impact of one's business decisions on the health of a competitor weakens your effectiveness," scoffs one industry analyst. (Parry, 2003) but while behaving unethically in the short run may reap rich marketing rewards, one could counter that a culturally exploitative and damaging campaign could generate such…… [Read More]
FDA Market Subfilings of U.S.$225,000
US $10 to $15 million in product packaging, distribution and marketing (and the company was not clear as to if they could afford this cost at this point in time)
Selling Miracare directly to consumers might result in cannibalization of its sales to labs and hospitals affecting the companies' earnings, given product margin differentials, as well as the company's relationship with its distributors, middlemen and customers, such as labs and hospitals.
Consideration must be given for the fact that OTC HIV testing approval would serve to open the door to OTC sales of rapid tests for other infectious diseases (including flu, strep throat, STDs and drug screening) HIV rapid testing market is small but other rapid testing markets are worth potentially billions.
IV. Recognition of Opportunity
ecause these products were likely to crowd pharmacy shelves representing 'opportunity' it was important that Medmira not make…… [Read More]
Institutional Distances in International Marketing Channels: Governance Strategies That Engender Legitimacy and Efficiency, the researchers posit that firms doing business in foreign institutional environments face significant pressure to gain social acceptance (which they term as "legitimacy") and to compete in meaningful ways that only result from being well-informed about the host market (which they term "efficiency"). They explain that obtaining legitimacy may incur additional costs of adaptation and market assessment that tends to undercut firm efficiency. Firms must invest to understand the local market and position themselves to work cooperatively with local partners. The managerial dilemma becomes how to gain legitimacy while safeguarding efficiency (Yang et. al, 2012).
The past solution, as the article highlights, was to conform to gain social acceptance for survival -- even if was detrimental to the firm and compromised self-interests. The authors suggest that the more effective method is to minimize institutional distance through regulatory,…… [Read More]
International expansion is one of the growth strategies that are embraced by companies in order to improve their bottom-line/profitability. In this paper, we present an elaborate international marketing strategy for ed Bull energy drink. The marketing plan begins with an introduction into the concept of international expansion and marketing and a brief overview of the company. A review of the main conclusions and recommendations is then presented. This is then followed by a discussion of internalization strategy. In this section, the context as well as context and reasons for the firm's internationalization initiation or expansion decision, as well as a discussion of the stage of internationalization at which your chosen firm finds itself. The next section is a discussion of the foreign market segmentation and targeting strategies. Under this section, we justify our choice of a market concentration or diversification strategy, incremental vs. simultaneous entry, the number of countries you…… [Read More]
Notwithstanding these similarities in the marketing function, there are some important differences that must also be considered. For example, even enormous countries in geographic and population terms that have relatively homogeneous populations may require more straightforward domestic marketing techniques and small city-states will require more elaborate international marketing techniques. For example, as ao (2000) points out, "Given its strong tourism base and an open economy, Singapore has modern international retailing and other marketing institutions, making this country a truly global or international city, while India represents primarily a traditional, domestic marketing environment with considerable isolation from international markets" (p. 188).
According to Hills (1994), the ecological model shown in Figure 1 below indicates that there is no single, successful ongoing or steady-state strategy for small companies involved in international marketing initiatives. This author emphasizes that, "Standardization vs. local differentiation is the single most important issue in ongoing international…… [Read More]
Starbucks succeeded in Asia specifically because it did not market the same way that it did in North America. Cultural differences made it difficult to market their primary product (coffee), so they shifted focus to their secondary product (the casual "third place"), something that is in high demand in Asia's densely populated cities and Asia's communal culture (Chang, 2010). Had Starbucks stuck with its focus on coffee, the message would have been lost on tea-drinking Asian consumers.
The notion that products can be marketed the same all the world over is a fanciful one. Even the world's most ubiquitous companies tailor their products, their distribution and their promotional strategies to the local conditions. The brand may be the same, but the marketing behind the brand is often very different.
4. There are a number of costs beyond the domestic price that must be considered when marketing abroad, including product-related costs,…… [Read More]
That's proving a business opportunity for Krispy Kreme, McDonald's and other American fast-food chains. For Krispy Kreme, Japan is part of its overseas expansion -- a crucial element of its revival plan announced earlier this year. The chain, based in inston-Salem, N.C., saw its stock collapse two years ago under the weight of overexpansion in the U.S., an accounting investigation and the low-carb diet craze...[Now a] Japanese man carries boxes of Krispy Kreme doughnuts back to his office...two Japanese girls devour doughnuts last week at a Krispy Kreme shop in Tokyo. Long lines form outside the shops, sometimes leading to waits of an hour" (Kageyama 2007). But because of more health-conscious consumers in other regions of America where the Southern, Americana image of the company has less cache and novelty, this strategy has not been successful. Also, the idea of a 'trans-fat free doughnut' has not quelled fears about health…… [Read More]
This he can do by engaging in extensive advertising, public relations, sales promotion, personal selling, internet marketing, and sponsorship. Depending on the resources available, the client can use any form of mass media that is within his means. He can also go for the services of public relation companies to obtain favorable publicity within the media. The client can also make use of money off coupons or special offers to increase sales volumes in short-term. Internet marketing techniques like social media and videos on demand can also come in handy (Chaffey, 2007). Message strategy should be well thought out. The message should reinforce the benefit of that product (Schultz & Dev, 2005).
2.1.4 Place Strategy
This stands for ways by which goods are transported from the client to the end users. The client has to ensure that goods reach the market when they are still in good condition failure to…… [Read More]
Music is something that reaches the soul. In other more pragmatic words we could state that its role is to answer psychological needs. From this pint of view the greatest opportunity that the artist benefits from is the one of making good quality music. Normally the high quality product should sell itself. In reality it will need a bit of promotion and advertising to achieve its purpose of becoming successful abroad.
Now that we have taken into consideration a multitude of strong points and opportunities, we should probably underline the fact that there are important threats that one must take into consideration. The first threat that we must analyze is represented by the competition. It is true that being a male could be an advantage on the international music market.
One may become the idol of the boys and a desired partner for the girls. Especially under the circumstances in…… [Read More]
Marketing Communication Programme for the New Product
"The Body Shop" offers a wide range of naturally inspired cosmetics and toiletry products. The brand, originally created in the United Kingdom, distributes its products and expresses its values through a large multi-channel network of exclusive retail shops (1,088 company owned and 1,517 franchisees) in more than 60 countries, as well as through home and online sales. The purpose of this report is developing an international marketing plan for a new product; a special shampoo which mitigates the hair loss problem of people, particularly for men, to be added to the range for international market in Asia for the Body Shop.
An international marketing plan including an analysis of marketing potential and target segment of the new product, a marketing communication programme for the new product is indicated in this report.
This report also provides a SWOT analysis for The Body Shop and…… [Read More]
International Channel Management
The Japanese Distribution System has been under a lot of scrutiny and assessment and analyses by foreigners, and these analyses have attempted to find out the reason behind the absolute 'no go' principle that they find when they attempt to export any product to Japan. In a basic comparison between Japan and the United States of America, for example, while there is one single retail store for every 68 persons in Japan, in America, there is one retail store for every 120 persons. (Japanese Business Environment) The Japanese Distribution is virtually in the midst of a big controversy today, wherein the distributive structure and the various trade practices followed by the Japanese are under question. (A new perspective on the Japanese distribution system: structure and trade practices) The fact is that the Japanese Distribution System came into being during the early years of the seventeenth century, when…… [Read More]
Analysis of Performance
Another primary factor that is serving as a catalyst for companies integrating their marketing and e-marketing into a single, unified platform is the potential that exists for measuring performance of strategies at a much greater level of accuracy than has been possible in the past (Bernoff, Li, 2008). This is particularly useful from a global standpoint when companies must budget their advertising, promoting and marketing dollars across a wide variety of programs, each operating in a different geography (Sheth, Sharma, 2005). While much has been written about the world being flat, in fact marketing globally has never been more heterogeneous and diverse (Sheth, Sharma, 2005). For companies to attain a high level of trust in their chosen markets the focus needs to be on measuring strategies online to see what resonates and makes them relevant over not (adin, Calkins, Predmore, 2007). Metrics captures from e-marketing can deliver…… [Read More]
Marketing eport for Ms. Janet Bradley
Keeping in view the increasing obesity rates in Australia and finding the spicy and high-calorie fast foods as the major reason for it, Ms. Janet Bradley has planned to establish a low-calorie fast food restaurant chain that will serve as an alternative to McDonald's, ed ooster, KFC, and other fast food chains. This paper presents a comprehensive analysis of the micro and macro environment for the new fast food chain in order to recommend strategies which can help it in becoming successful in the industry. The major micro environmental forces which will impact its business are consumer behaviour, suppliers and intermediaries, publics, and competitors. The buyer behaviour has been analysed using cultural, social, personal, and psychological dimensions -- all having a significant impact on the purchase decisions and preferences of the consumers towards fast food products. The restaurant chain will also take a big…… [Read More]
Marketing Case Study
Explain what you think would be an appropriate promotions strategy for both of them. In doing so compare and contrast the two promotions strategies explaining why you think they would be similar or different.
NINE POSSIBLE PODUCT -- MAKET COMBINATIONS
POSSIBLE TAGET MAKETS
GAY MEN O WOMEN
BLACK WOMEN AGED 18-30
NON-LETHAL PESONAL SECUITY PODUCTS
FITNESS / EXECISE PODUCTS
More than one billion adults worldwide are overweight. In the United States alone obesity is responsible for an estimated 300,000 deaths annually. What's interesting is that nearly all of these deaths are preventable through proper exercise and nutrition. As such, fitness is a very contentious issue plaguing many of the developed nations worldwide. Statistics indicate that nearly 33% of all Americas are obese. This bodes very well in regards to marketing as 1 in 3 Americans could use the fitness and exercise related…… [Read More]
History of Coca-Cola Company (Coke)
We all know - at least if we are old enough to have heard the jingle - that Coke would like to teach the world to sing in perfect harmony. Except that this isn't quite true. What the Coca-Cola Company would most like to do is to teach the world to drink Coke - or one of its other wholly owned brands. The company has in fact proved to be remarkably hardy in the ever-more-globalizing economy. It's hard to travel anywhere in the world today and not see someone sipping a Diet Coke.
But this does not mean that the company's entrance into different national markets has been smooth - or that its continued competitiveness in various national markets will be assured. Each country presents a unique set of cultural and economic challenges. This paper examines the possible entrance of the Coca-Cola Company into Iran,…… [Read More]
Competitive strategy is the bedrock on which companies base business decisions to reach their targets and achieve profitability. Formulating and implementing strategies in international business is much more complicated and difficult task than doing so in home or familiar markets. Competitive strategy deals with the development of abilities by a firm to keep ahead of competitors in the fields in which it operates. Firms develop competitive edge in global markets by possessing certain assets, abilities or characteristics. The primary elements of competitive advantage are the critical offer, the significant operating factors and the firm's strategic resources. (ennett and lythe, 2002) Corporate strategies and international marketing strategies are linked closely and have a bearing on business performance. (rown, 1994)
While some companies focus on a single source of competitive advantage, it is common for many firms to opt for a combination of options to be flexible and attain the…… [Read More]
Business users will be charged $45 a month for data. By giving back the revenue to the carriers, which they may use for subsidies, Apple is hoping to dramatically increase its volume, as well as sell more Macintosh computers to iPhone users" (Markoff 2008).
This tradeoff illustrates an important aspect of marketing any new technology -- not only must the product be affordable, but so must the service itself. Apple is striving to convince consumers that using as well as buying the iPhone is financially feasible and also hopes its attractive pricing strategy for the iPhone will convert more consumers to the use of its other product, like Macs, because of the satisfaction they derive from the iPhone. Additionally, while business users are charged more per month because they use more data services, Apple also has tried to still make the iPhones attractive to businesses, by selling them the phone…… [Read More]
Marketing in a Less Developed Country
A less developed country is that country with a Gross Domestic Product (GDP) of less than 2% of global trade in goods relative to other countries. Less developed countries are characterized by little industry and sometimes a comparatively high dependence on foreign aid. These countries are grouped as the poorest and weakest market economies and consist of more than 880 million people. They rely heavily on exports of agricultural products whose prices keep on fluctuating fetching low price in the international market while they import most of the industrial and manufactured goods from developed countries a reason for continued balance of payment deficits, resulting into high debt burdens which have kept them as beggars' in the international community thus a continuous vicious cycle of poverty (UN-OHLLS, 2011).
Less developed countries are also characterized by low level of socio-economic development with weak human and institutional…… [Read More]
From the place or distribution standpoint, Cincom relies on a direct sales force for the majority of its sales. This translates into the sales force for Cincom visiting the companies who are interested in purchasing their solutions and providing conference room pilots or demos of their software. Cincom also concentrates on creating demos that match to the needs of their customers exactly, by first evaluating the process workflows and procedures that are most in need of improvement within a customers' business. Cincom will model a customers' entire business to provide insights into how their software can streamline the overall production process.
Finally on the promotional aspect of their marketing mix for CONTOL, Cincom relies primarily on customer references and a series of videos of customers sharing how the EP system has helped to streamline their overall operations. There is also a series of brochures and data sheets, and self-running demos…… [Read More]
Marketing Shampoo -- Selling sex with soap suds
Shampoo's main function as a product may be to clean hair, but when it comes to advertising, no form of marketing succeeds more potently to sell this cleansing product to women than the marketing of feminine sex appeal. 'Buy the product, and be a sexy woman/girl.' This may not always come across as good clean fun in the eyes of the consumer, but, even if us not strictly dirty advertising, the need to sell sex as part of the image to the typical female consumer of shampoo cannot be underestimated. hat else will distinguish what is otherwise a fairly indistinguishable product, other than the promise of sensuality via the right kind of soaping and suds?
hile much of Chapter 7 of Reading Culture by Diana George and John Trimbur makes much of how the female body has been used as an image…… [Read More]
In an online setting, owley suggests that marketers do not need to "speculate about customer needs" because they can use the Internet to download customer's buying profiles and enhance their customer service and product development strategies based on the information they receive from online reports. Further, the author suggests advertising can be more targeted because it is more easily tracked in an online setting vs. An offline setting. owley (2004) goes on to assert that the combination of online and offline services allows for more customization, and enables "mutual dependence" which in turn creates complex and diversified communities inclusive of customers and businesses. Organizations that utilize the Internet wholly, rather than partially, are more likely to become targets for innovation, research and development, which will only advance their goals in the short- and long-term (owley, 2004, p. 39).
There are theorists that study certain aspects of marketing, like advertising, but…… [Read More]
Product / Service Concept
The multifunctional remote device is designed to enhance convenience of most functionalities for electrical/electronic equipments used by consumers. This product offering enables consumers to access and control different electronic devices and equipment through a single remote device. This will facilitate communication with different servers linked to the organization. The benefit of this product is that it will enhance the convergence of technology used within an organization. This is a user-friendly device purposed to increase the level of convenience for end-users. In addition, this will increase the level of consumer satisfaction. The introduction of this product offering offers a substitution to the use of different remotes for different electronic devices. For instance, within the hospitality industry, the multi-function remote device will facilitate different conveniences such as audio and video devices, room temperature controls, lighting, room printers, television, and even bed movements.
The…… [Read More]
International Business/Marketing Internship eport
In today's world, it is impossible to think of business on a local, or even national, scale. Today's business reality is a global economy, for businesses large and small. Thanks to globalization, national borders have been lowered. This means suppliers, customers, and competitors are not necessarily just down the street, but could be located anywhere in the world. As such, it is critical for organizational team members to have a firm understanding of the international dimensions of business. Without it, organizations cannot be truly competitive in today's global economy. I anticipate that my internship experience at Korona Tours and Travel in Cyprus will reiterate this fact to me.
Korona Travel is a young travel company that services the Cyprus Tourism Sector. They pride themselves on the high level of service they provide to their international customers. They operate tours out of eleven countries including: ussia, Belarus,…… [Read More]
International Business and the egions
In the era of globalization, the primary scope of agencies, institutions and players across the world seems the creation of a free international market place. The efforts so far made have however been insufficient to create such a market place, but impressive successes were observed in terms of the creation of regional market places. In other words, the modern day economic society has managed to support and concretize its efforts in the direction of regional economic development.
egional economic integration
egional economic development is virtually understood as a context in which countries in the same global region direct their endeavors in the sense of creating an economically integrated region. They virtually focus on free trade and migration of goods, people, commodities, technologies and capitals and they strive to reduce the barriers between the respective economies. Jacques Pelkmans (2006) defines economic integration as "the elimination of…… [Read More]
On the other hand there are many disadvantages to moving into foreign markets as well. One disadvantage is in regards to extra costs. Because it takes more time to develop extra markets, and the pay back periods are longer, the up-front costs for developing new promotional materials, allocating personnel to travel and other administrative costs associated to market the product can strain the meager financial resources of small size companies. Another disadvantage is product modification. When exporting, companies often need to modify their products in order to meet foreign country safety and security codes along with other import limitations. At a minimum, alteration is often necessary in order to satisfy the importing country's labeling or packaging necessities. A third disadvantage is that of financial risk. Collection of payments using techniques like open-account, prepayment, consignment, documentary collection and letter of credit are time-consuming and more complex (Advantages and Challenges of Exporting,…… [Read More]
One of the most difficult paradigms in research is defining what exactly constitutes the idea of "theory." There are many different authors with many different views on this.
Harlow (2009) articulates the problem associated with defining "theory" is that there is no fixed, universal meaning for this concept. One of the guides towards identifying the components that constitute a theory could be the specific research direction at issue. In the natural science, for example, "theory" could refer to the law or system of laws. In a social sciences discipline, "theory" might suggest a construct or set to order and understand the phenomena under study.
While it is difficult to explain or define the concept of theory, Harlow also points towards the importance of understanding the concept of "theory" in terms of research, since it forms the central concept around which the research is conducted. Hence, understanding what is meant…… [Read More]