INBS 346--Chapter 17, Ball et al (1)

INBS 346--Chapter 17, Ball et al (1) - Chapter Seventeen...

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Unformatted text preview: Chapter Seventeen Chapter Seventeen Marketing Internationally Marketing h Marketers everywhere must M Know their markets M Develop products (goods or services) to satisfy customers needs M Price the products or services so that they are readily available M Make them available to the buyers M Inform potential customers and persuade them to buy 1-3 17-3 International Marketing International Marketing h To develop marketing strategies, the international marketing manager assesses the firms foreign markets and analyzes the many alternative marketing mixes M Plans and controls a variety of marketing strategies rather than a single unified and standardized one M Coordinates and integrates multiple strategies into a single marketing program 1-4 17-4 Standardization and Adaptation h Adaptation refers to firm efforts to modify elements of the international marketing program to accommodate specific customer requirements in a particular market. M Standardization refers to firm efforts to make the marketing program elements uniform, with a view to targeting entire regions of countries, or even the global marketplace, with a similar product or service. M Achieving a balance between adaptation and standardization is part of a broader corporate strategy that has the firm debating its position between global integration and local responsiveness . 1-5 17-5 1-6 17-6 Product Strategies Product Strategies h Product is central to marketing mix M The total product includes the M physical product M brand name M accessories M after-sales service M warranty M instructions for use M company image M packaging 1-7 17-7 Types of Products Types of Products h Industrial Products M Many can be sold unchanged worldwide M If changes are required, they may be cosmetic (language of instructions) M In developing countries problems with M overload of equipment M maintenance M Local legal requirements limit standardization 1-8 17-8 Types of Products Types of Products h Consumer Products M Require greater modification to meet local market requirements M Some can be sold unchanged to certain market segments M Large automobiles, sporting equipment, and perfumes M Greater dissimilarity as you go down the economic strata 1-9...
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This note was uploaded on 12/17/2010 for the course INBS 346 taught by Professor Ike during the Fall '10 term at Montclair.

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INBS 346--Chapter 17, Ball et al (1) - Chapter Seventeen...

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