...CONTENTS PREFACE xv PART 1 CHAPTER 1 GLOBAL MARKETING ENVIRONMENTS 1 Understanding Global Markets and Marketing 2 markets are becoming global 2 globalization: the world is becoming smaller 3 globalization and global marketing 4 Globalization: Opportunity or Threat? The Global Marketing Approach 6 6 global marketing and global markets 7 the cage distance framework 7 domestic and global marketing compared 8 Geographic or Spatial Distance 10 Psychic/Cultural Distance 12 The EPRG Framework 13 Developing Global Marketing Strategy 14 The Standardization versus Localization–Adaptation School 14 Levitt and the Globalization of Marketing 16 Standardization versus Mass Customization 17 Managing the Firm’s Value Chain 18 Global Value Chain Configuration 19 Integrating the Firm’s Competitive Strategy 20 Global Competition 20 a global marketing management framework Global Marketing Performance 22 Global Vision—The World Is My Oyster CASE 1-1 CASE 1-2 CHAPTER 2 21 23 A Tortuous Road Ahead for Proton of Malaysia 26 Dabur—Developing Values in an Emerging Economy Through Value Chain and Product Line 31 Assessing the Global Marketing Environment—The Global Economy and Technology 36 the global economy 37 Economic Growth and World Trade 37 Who Are the United States’ Major Customers? 38 High Tech Products Lead World Trade 40 Characteristics of High Technology Markets 42 Technology and Global Financial Services 44 vi ...
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...DEFINING MARKETING FOR THE 21ST CENTURY WHAT IS MARKETING? Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is “ meeting needs profitably.” 3 ALTERNATIVE PHILOSOPHIES THAT CAN GUIDE ORGANIZATIONS IN THEIR EFFORTS TO CARRY OUT THEIR MARKETING GOAL(S) THE PRODUCTION CONCEPT The production concepts, one of the oldest concepts in business, holds that consumers prefer products that are widely available and inexpensive. Managers of production– oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution. This orientation makes sense in developing countries such as China, where the largest PC manufacturer, Lenovo, takes advantage of the country’s huge and inexpensive labor pool to dominate the market. Marketers also apply the production concept when they want to expand the market. THE PRODUCT CONCEPT The product concept proposes that consumers favor products offering the most quality, per-formance, or innovative features. However, managers are sometimes caught in a love affair with their products. They might commit the “ better mousetrap” fallacy, believing a better product will by itself lead people to beat a path to their door. A new or improved product will not necessarily be successful unless it’s priced, distributed, advertised, and sold properly. THE SELLING CONCEPT The selling concept holds that consumers and businesses, if left alone, won’t buy enough...
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...Week 1 TCOs A, B, C Marketing, Strategies, and Research Chapter 1: Defining Marketing for the 21st Century Chapter 2: Developing Marketing Strategies and Plans Chapter 4: Conducting Marketing Research and Forecasting Demand, pp. 88-105 A. Given information gathered through applied business research, develop a Marketing Plan for a product or service of your choice consistent with its position in the market. Understand how this Marketing Plan would fit into a complete Business Plan for the product or service. Key Concepts: Define marketing and how it evolved and why marketing is important to our society. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. How it evolved has 5 phases on page 2 of notes. 1. Production concept of marketing, 2. Product concept, 3. Promotion selling concept, 4. Marketing concept, 5. Holistic marketing. A social definition shows the role marketing plays in society; for example, one marketer has said that marketing’s role is to “deliver a higher standard of living.” Here is a social definition that serves our purpose: Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. Explain the Marketing Concept as one of several company orientations towards the marketplace...
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...E-Leader Croatia 2011 Case Studies in Channels of Distribution Donald K. Hsu, PhD Associate Professor Division of Business Administration Dominican College Orangeburg, New York, USA Abstract Case studies were employed as research tools, for undergraduate and MBA students for 25+ years. The International Management course was taught in two classes at an undergraduate Business program. Channel of Distribution course was given at a MBA program. Real-world examples were utilized and applied in class whenever applicable. Students did final projects individually or in a team, by employing case studies via library and internet search. Class evaluations indicated that the case studies enhanced significantly their overall learning experience. Students rated the courses good to excellent. This paper gave the summary. Keyword: Case Studies, In-Class Team Assignment, Final Projects, International Management and Channels of Distribution Harvard University, Cranfield University (UK) and many other research institutions published case studies for 25 years. International Management and Channels Distribution were taught in an undergraduate business program and a MBA program respectively. Job market is very good. A quick search on Indeed (2011) yielded 5,850 jobs for international manager and 1,160 jobs for channels distribution. This search was done for Manhattan zip code 10001, and within a twenty-mile radius. In the down economy, managers and distributors are still...
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...Assessment: MKC1 Market Environmental Variables Reading: Contemporary Marketing: Chapter 3 Questions: 1. How would you categorize Generation X using the five segments of the marketing environment? A: Competitive Environment B: Political-legal environment C: Economic environment D: Technological environment E: Social-cultural environment 2. Joe and Ryan both have storefronts in the local mall. Joe sells candies and Ryan sells pretzels. Are Joe and Ryan in direct competition with each other? A: Yes B: No Consumer Behavior and Marketing Reading: Contemporary Marketing: Chapter 5 Questions: 1. Rachel and Sarah’s parents always purchased groceries from the local Aldi marketplace. What is this type of behavior an example of? A: Cultural influences B: Social Influences C: Personal factors 2. Maryanne purchases Maxwell House coffee every two weeks from the grocery. What is this type of behavior an example of? A: Routinized Problem Solving B: Limited problem solving C: Extended problem solving 3. Aaron does research on several local colleges before applying to his first three choices. This is an example of: A: High – involvement purchase decision B: Low – involvement purchase decision Marketing Plans Reading: Contemporary Marketing: Chapter 2 + Ch. 2 Appendix Web sites: http://www.jpec.org/handouts/jpec33.pdf http://www.netmba.com/marketing/process/ Questions: 1. Strategies are designed to meet objectives...
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...Chapter 1: Defining Marketing for the 21st Century GENERAL CONCEPT QUESTIONS Multiple Choice 1. Good marketing is no accident, but a result of careful planning and ________. a. execution b. selling c. strategies d. tactics e. research Answer: a Page: 4 Level of difficulty: Medium 2. Marketing is both an “art” and a “science”—there is constant tension between the formulated side of marketing and the ________ side. a. creative b. selling c. management d. forecasting e. behavior Answer: a Page: 4 Level of difficulty: Easy 3. The most formal definition of marketing is ________. a. meeting needs profitably b. identifying and meeting human and social needs c. the 4Ps (Product, Price, Place, Promotion) d. an organizational function and a set of processes for creating, communicating, and delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders. e. improving the quality of life for consumers Answer: d Page: 6 Level of difficulty: Medium 4. Marketing management is ________. a. managing the marketing process b. monitoring the profitability of the companies products and services c. selecting target markets d. developing marketing strategies to move the company forward e. the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value Answer: e Page: 6 Level of difficulty: Easy 1 Part 1: Understanding Marketing...
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...Marketing Channel Strategy This page intentionally left blank Eighth Edition Marketing Channel Strategy Robert W. Palmatier University of Washington’s Foster School of Business Louis W. Stern Northwestern University’s Kellogg School of Management Adel I. El-Ansary University of North Florida’s Coggin College of Business Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montréal Toronto Delhi Mexico City São Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editor in Chief: Stephanie Wall Acquisitions Editor: Mark Gaffney Program Manager Team Lead: Ashley Santora Program Manager: Jennifer M. Collins Director of Marketing: Maggie Moylen Executive Marketing Manager: Anne Fahlgren Project Manager Team Lead: Judy Leale Project Manager: Thomas Benfatti Operations Specialist: Nancy Maneri Cover Designer: Suzanne Behnke Creative Director: Jayne Conte Digital Production Project Manager: Lisa Rinaldi Full Service Vendor: Integra Software Services Pvt. Ltd. Full Service Project Manager: Anandakrishnan Natarajan/Integra Software Services Printer/Binder: Courier/Westford Cover Printer: Lehigh-Phoenix Text Font: 10/12, ITC Garamond Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text (or on page xix). Copyright © 2015 Pearson Education, Inc., publishing as Prentice...
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...International Marketing Summary Chapter 1: Global Environmental Drivers Over the last few decades, international merchandise trade has expanded at astounding rates to reach $16.3 trillion in 2011. In addition, trade in services has grown at particularly high rates within the last decade to reach almost $3.7 trillion in 2010. As a result, nations are much more affected by international business than in the past. Global linkages have made possible investment strategies and marketing alternatives that offer tremendous opportunities. Yet these changes and the speed of change also can represent threats to nations and firms. On the policy front, decision makers have come to realize that it is very difficult to isolate domestic economic activity from international market events. Factors such as currency exchange rates, financial flows, and foreign economic actions increasingly render the policymaker powerless to implement a domestic agenda. International interdependence, which has contributed to greater affluence, has also increased our vulnerability. Both firms and individuals are greatly affected by international trade. Whether willing or not, they are participating in global business affairs. Entire industries have been threatened in their survival as a result of international trade flows and have either adjusted to new market realities or left the market. Some individuals have lost their workplace and experienced reduced salaries. At the same time, global business changes...
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...dddddddddddddddddddddd Chapter 7: Market Entry Strategies Chapter Objectives Structure Of The Chapter Entry strategies Special features of commodity trade Chapter Summary Key Terms Review Questions Review Question Answers References Bibliography When an organization has made a decision to enter an overseas market, there are a variety of options open to it. These options vary with cost, risk and the degree of control which can be exercised over them. The simplest form of entry strategy is exporting using either a direct or indirect method such as an agent, in the case of the former, or countertrade, in the case of the latter. More complex forms include truly global operations which may involve joint ventures, or export processing zones. Having decided on the form of export strategy, decisions have to be made on the specific channels. Many agricultural products of a raw or commodity nature use agents, distributors or involve Government, whereas processed materials, whilst not excluding these, rely more heavily on more sophisticated forms of access. These will be expanded on later. Chapter Objectives The objectives of the chapter are: Structure of the Chapter The chapter begins by looking at the concept of market entry strategies within the control of a chosen marketing mix. It then goes on to describe the different forms of entry strategy, both direct and indirect exporting and foreign production, and the advantages and disadvantages connected with each method. The chapter gives...
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...MARKETING MANAGEMENT - SUMMARIES PART 1 UNDERSTANDING MARKETING MANAGEMENT Chapter 1 – Defining marketing for the 21st Century Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Marketers are skilled at managing demand: they seek to influence its level, timing, and composition for goods, services, events, experiences, persons, places, proper- ties, organizations, information, and ideas. They also operate in four different marketplaces: consumer, business, global, and nonprofit. Marketing is not done only by the marketing department. It needs to affect every aspect of the customer experience. To create a strong marketing organization, marketers must think like executives in other departments, and executives in other departments must think more like marketers. Today’s marketplace is fundamentally different as a result of major societal forces that have resulted in many new consumer and company capabilities. These forces have created new opportunities and challenges and changed marketing management significantly as companies seek new ways to achieve marketing excellence. There are five competing...
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...COURSE SYLLABUS COURSE TITLE: MGT/448 Global Business Strategies LSB04BSM09 REQUIRED TEXT/MATERIAL: Books 1. The World Is Flat A Brief History of the Twenty-first Century (Friedman) 2. International Business: Competing in the Global Marketplace, 5/e (Hill) 3. The Lexus and the Olive Tree: Understanding Globalization (Friedman) 4. Managing Cultural Differences (Harris, Moran) 5. Global E-Commerce Strategies for Small Business, (Da Costa, Laffont, Tirole) Scholarly Articles 1. International Business: Environments and Operations, (Daniels, Radebaugh, Sullivan) Journal of Political Economy 2. International Real Business Cycles, (Backus, Kehoe and Kyland) Journal of Political Economy 3. Going global: Using information technology to advance the competitiveness of the virtual, (Boudreau, Loch, Robey, Straub) Academy of Management Executive 4. Working with Americans, (Thompson) The FLAME of Claremont Graduate University Websites: 1. Economist.com (The Economist Magazine) 2. FT.com (Financial Times Newspaper) 3. cia.gov/cia/publications/factbook (CIA world Fact Book) 4. loc.gov/rr/international/portals.html (Library of Congress Country Info) 5. windowontheworldinc.com/countryprofile/index.html (Tips for Global Business Etiquette 6. transparency.org (Transparency International) 7. scholar.google.com (Google for academic search) INSTRUCTOR: Taj Ahmad Eldridge, MBA, Ph.D Int’l Political Economics & World Politics candidate WELCOME: ...
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...Chapter 1: Marketing Management Basic Concepts THE SCOPE OF MARKETING To prepare to be marketers, you need to understand what marketing is, how it works, what is marketed, and who does the marketing. What Is Marketing? Marketing deals with identifying and meeting human and social needs. One of the shortest definitions of marketing is “meeting needs profitably.” The American Marketing Association offers the following formal definition: ―Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.” Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A social definition of marketing is that ―marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.” Exchange and Transactions Exchange is the process of obtaining a desired product from someone by offering something in return. For exchange potential to exist, the following conditions must be satisfied: 1. There are at least two parties. 2. Each party has something that might be of value to the other party. 3. Each party is capable of communication and delivery. 4. Each party is free to accept or reject the exchange offer...
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...Introductory Marketing Place Chapter 11 Armstrong/ Kotler Marketing: An Introduction Marketing Channels and Supply Chain Management I. The Nature of Distribution Channels Channels of Distribution is known as "Place" in the "4 P's" model of Marketing. Distribution Channels provide the utility of place, of having products where the customer wants when the customer wants them. In these days of customer focus and emphasis on competition, the 4 P's model is considered very simplistic, and I've always thought that was probably why Marketers began referring to Place as Channels, to move us away from "The "4 P's" as a description of all of what Marketing is about; nevertheless, "place" is a convenient way to think of the term Channels of Distribution. |Distribution is particularly important in a country |[pic] | |like Canada with our huge size and our northern | | |climate. Every spring, trucks go down through the ice | | |in places where frozen water is used as a seasonal | | |road; this truck is sinking in Lake Winnipeg. | | |[pic] ...
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...CHAPTER LOGISTICS AND THE SUPPLY CHAIN Special logistics staffs handle the mO\'cIllent of items and displays for trade shows and special events. This sleek Mercedes racer is being loaded aboard a KLM Boeing 747. Photo KLM-Ro\'a! Dutch Airline, Photo Archi\es. Reproduced with permission, 2 CHAPTER 1 Logistics and the Supply Chain 3 Key Terms • Channel intermediaries • Phantom freight • Place utility • Possession utility • Postponement • Power retailer • • Reverse logistics Stock-keeping units (SKUs) • Cost trade-offs • Economic utility • FOB destination pricing • FOB origin pricing • Form utility • Freight absorption • Inbound logistics • Landed costs • Logistics • Mass logistics • Materials management • Stock outs • Systems approach • Tailored logistics • Time utility • Total cost approach Learning Objectives • To learn the definition of logistics • To understand the economic importance of logistics • To learn of recent events and their int1uences on logistics practices • To gain an understanding of logistics practices within a firm • To learn different pricing policies • To know about logistics careers ECONOMIC IMPACTS OF LOGISTICS At this point. you may have limited awareness of. and knowledge about, logistics- the subject matter of this textbook. However. if that is the case. you 're really not very different from lots of other people who inhabit this planet. and it might come as a surprise to you that logistics tends to have significant economic...
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...[pic] [pic] JAGANNATH UNIVERSITY, DHAKA Department of Finance Group name: SPARKER'Z |NAME |ID NO | |Reaj Hossain Talukder |B110203056 | |Md: Abdullah Al Mamun |B110203034 | |Md. Hazzrat Omar Rubel |B110203121 | |Md. Miraj |B110203047 | |Md. Asif Ahsan |B110203092 | |Nishit Datta |B110203036 | Letter of Transmittal 6th May, 2012 Saud Ahmed Lecturer Department of Finance Jagannath University Subject: To submit a report on...
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