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Stressing Culture and International Marketing

In: Business and Management

Submitted By elinehaarmans
Words 2529
Pages 11
marketing chapter 1- introduction to global marketing

principles of marketing a review
The essence of marketing is to surpass the competition at the task of creating perceived value. Value equation = Benefits/Price (time, money, effort). Benefits are a combination of the product, promotion and distribution. A market = people or organization that are both able and willing to buy.
When a company is able to create more value than the rest, he has a competitive advantage. A global industry – one in which competitive advantage van be achieved by operations on a worldwide scale.
Global marketing: what it is and what it isnt
Global marketing strategy, has 5 dimensions: 1. Global market participation: the extent to which a company had operations in major world markets. 2. Standardization vs. adaptation 3. Concentration of marketing activities: the extent to which activities related to the marketing mix are performed in one or a few countries. 4. Coordination of marketing activities: the extent to which marketing activities related to the marketing mix are planned and executed interdependently around the globe. 5. Integration of competitive moves: the extent to which a firm’s competitive marketing tactics in different parts of the world are interdependent.

management orientations
Ethnocentric orientation
His/her home superior to the rest. Opportunities outside the home country are largely ignored domestic companies. Those who conduct business outside home country international companies: products of home country are superior. Leads to standardized or extension approach. Major internal weakness.
Polycentric orientation
The opposite. Each country is unique localized or adaptation approach. Such a company is an multinational company.
Regiocentric orientation
For example a European company that focuses its attention on Europe.

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