Polycentric Host country nationals Local adaptation through local knowledge

Polycentric host country nationals local adaptation

This preview shows page 26 - 28 out of 37 pages.

Polycentric Host country nationals Local adaptation through local knowledge, career opportunity for local staff. Geocentric A mix of parent, host and third country nationals Utilization of the broadest worldwide talent pool, equal career opportunities for everyone. Marketing refers to the effort to create, develop, ad defend markets that satisfy the need and wants of customers. Main marketing concepts over time: The Production Concept assumes that consumers are interested primarily in product availability at low prices. Marketing objectives Cheap, efficient production Intensive distribution Market expansion The Product Concept assumes that consumers will buy the product that offers them the highest quality, the best performance, and the most features. - Marketing objectives Quality improvement Addition of features Tendency toward Marketing Myopia – focus on product not consumer The Selling Concept assumes that consumers are unlikely to buy a product unless they are aggressively persuaded to do so. - Marketing objectives Sell, sell, sell and sell. Lack of concern for customer needs and satisfaction.
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The Marketing Concept assumes that to be successful, a company must determine the needs and wants of specific target markets and deliver the desired satisfactions better than the competition. - Marketing objectives Profits through customer satisfaction Implementing the Market Concept Consumer research: An extension of marketing research, aims to understand, among others, consumers needs and wants, and how they make consumption decisions. Segmentation: process of dividing the market into subset of consumers with common needs or characteristics. Targeting: selecting one ore more of the segments to pursue. Positioning: developing a distinct image for the product in the mind of the consumer. The Marketing mix: o Product (service) o Price o Place (distribution) o Promotion International Marketing is the multi-national process of planning and executing the conception, prices, promotion and distribution of ideal goods and services to create exchanges that satisfy the individual and organizational objectives. Global consumers can be divided into four categories: 1. Global citizens (who are in favor of buying global brands that signal prestige) 2. Global dreamers (who may not be able to afford, but nevertheless admire, global brands) 3. Anti-global (who prefer local goods because of the perceived negative side effects of globalization) 4. Global agnostics (who don´t care about the global nature of the brands they buy) Global Market Segment A group of customers that share common characteristics across many nationals markets. Firms target these buyers with relatively uniform marketing programs, regarding product, pricing, communications, and distribution.
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