Week_8_Course_Materials

Week_8_Course_Materials - Marketing Globally Globalization...

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Marketing Globally
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Globalization and Markets a “Globalization seems to be the exception rather than the rule in many consumer goods markets and industrial markets; and, a Procter and Gamble …still customizes the final product offering and market strategy to the conditions that pertain in individual national markets.” - Charles W. Hill -
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Market Segmentation a Identifying distinct groups of consumers whose purchasing behavior differs from others in important ways. a Segmented markets: a Sex, age, income, race, education. a Social-cultural factors. a Psychological factors.
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Product Attributes a Cultural differences. a Economic differences. a Product and technical standards.
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Cultural Differences a Most important - the impact of tradition . Impact is greatest in foodstuffs and beverages. Scent preferences differ from country to country. a Some tastes and preferences became cosmopolitan: Coffee (Japan). U.S.-style frozen dinners (Europe).
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Economic Differences a Consumer behavior is influenced by economic development. a Consumers in highly developed countries tend to have extra performance attributes in their products. a Consumers in less developed countries tend not to demand these extra performance attributes. Cars: no air-conditioning, power steering, power windows, radios and cassette players. Product reliability is more important.
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Product and Technical Standards a Government standards can prevent the introduction of global products. a Different technical standards impede global markets, as well. a Come from idiosyncratic decisions made long ago. Different television signal frequencies.
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Distribution Strategy a Three different distribution systems: a Retail consideration. a Channel length. a Channel exclusivity. a Choice of channel: a Cost/benefit of each alternative vary from country to country. Concentrated Fragmented Short Long Channel No Outsiders
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A Typical Distribution System Manufacturer Inside the Country Manufacturer Outside the Country Import Agent Wholesale Distributor Retail Distributor Final Customer
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Communications Strategy a Effectiveness of international communications can be impacted by: a Cultural barriers. Need to develop cross-cultural literacy.
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Week_8_Course_Materials - Marketing Globally Globalization...

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