Strategin Planning-(tech.etc)

Strategin Planning-(tech.etc) - International Marketing...

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International Marketing November 8-10, 2010 Professor Charles Skuba
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The Marketing Manager’s Tasks in International Marketing 1. Extending core company strategy/positioning 2. Determining Specific Target Markets Country Segment(s) 3. Marketing Mix Management to best satisfy the needs of individual target markets Strategy, Strategy, Strategy
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Target Market Selection Screening & Analyzing Foreign Markets 1) Preliminary Screening 2) Estimating Market Potentials 3) Estimating Sales Potential 4) Identifying Segments Source: International Business, Czinkota, Ronkainen, Moffett
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1) Preliminary Screening Examine secondary research data for country specific factors – often macroeconomic Examples? Consider product- and industry-specific factors Examples?
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2) Estimating Market Potential Factors Estimating size of national market Forecasting potential of national market Formulae/techniques options Income elasticity of demand is the relationship between demand and economic progress Economic factors weighting Market audit of available data/analogy methods Longitudinal analysis (study of change over time in another country) Gap analysis
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3) Estimating Sales Potential The marketer needs to collect/analyze data: 1. Product comparisons 2. Market structure 3. Consumer demand 4. Competition 5. Channel structure
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Country Market Choice Priority Country Markets Large source of revenue and profits Home market of global customers Home market of global competitors Significant market of global competitors Major source of industry innovation Home market of most demanding customers Level of political and economic risk
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Framework for Choice of Markets Low High Low High Phased-in Entry Rapid Entry & Expansion Ignore for Now Opportunistic Entry Ability to Exploit Market Strategic Importance & Market Potential
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Examples : Country selection factors/criteria (PESTLE) Political, Economic, Social, Technological, Legal, Environmental Size of market (population) Size of market (GDP) Economic growth Wealth (per capita GDP) Disposable income Concentrated wealth Sophistication of distribution systems Infrastructure development Regulatory environment Trade/taxation policies Investment/ownership conditions Political/economic/transfer risk Intellectual property rights issues Availability of strategic partners Communications media/channels Size/strength of target segments Market demand for similar/ competitive products Strength of competition Customer sophistication Rate of technological obsolescence Product life cycle considerations Cultural receptivity Consumer attitudes Privacy issues Seasonality/climate/environment 9
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Example Criteria for Market Entry Selection Early Stage Technology Company 10 http://www.youtube.com/decisionlens
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Pair-wise Comparisons Used to Derive Strategic Selection Priorities 11
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Priorities 12
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Market-by-Market Ratings Against Criteria 13
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Markets Are Evaluated Against Criteria to Develop “Value Score” for Market Entry 14
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