to what extent must the company adapt its product and marketing program to each foreign country?
TRANSCRIPT
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Global Similarities
and Differences
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Globally Standardized Marketing
• Economies of scale in production and distribution• Lower power marketing
costs• Power and scope• Consistency in brand
image• Ability to leverage good
ideas quickly and efficiently• Uniformity of marketing
process
Advantages Disadvantages
• Ignores differences in consumer needs, wants, usage patterns, consumer response to marketing programs, brand and product development, legal environment, marketing institutions and administrative procedures
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Marketing Adaption
• Product features• Labeling• Colors• Materials• Sales Promotion• Advertising
media
• Brand name• Packaging• Advertising
Execution• Prices• Advertising
themes
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Global Product
Strategies
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Product Standardization
Quality and prestige can be marketed similarly across countries
Influenced by culture and wealth factors
Emphasize products across different markets
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Product Adaptation
Product Intervention
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• Backward intervention : reintroduces earlier product forms well adapted to a foreign country’s needs.
• Forward Intervention : creates a new product to meet a need in another country
Product Intervention
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Marketers need to change certain brand elements
Brand slogans or ad taglines sometimes need to be changed too
Brand element adaptation
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Global
Communication
Strategies
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Global Adaptations
Ensure that communications are legally and culturally acceptable
Must check their creative strategies and communication for appropriateness
Must be prepared to vary their messages appeal
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Price
esca
latio
n
• Set a uniform price everywhere Price too high in poor countries and not high enough in rich countries
• Set a market-based price in each country
• Set a cost based price in each country
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Tran
sfer P
rices
• Transfer: price for goods it ships to its foreign subsidiaries
• Dumping: If company charges its subsidiary too low a price
• Arm’s length price: the price charged by other competitors for the same product
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Image creditsflickr users
• 401(K) 2012• Barbera*