Summary Global Marketing sixth edition McGill UniversityMRKT 483Svend Hollensen Summary

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ummary Global Marketing sixth edition Buy and sell summaries, lecture notes, and practice exams directly from fellow students at Knoowy.com Downloaded by: AlexanderMazin - [email protected] ... This document is protected by copyright, the distribution of this document is illegal.Global marketing 1 Table of contents Chapter 1. Global marketing in the firm ................................................................................. 2 Chapter 2. Initiation of internationalization ............................................................................. 7 Chapter 3. Internationalization theories ................................................................................. 9 Chapter 4. Development of the firm’s international competitiveness .....................................12 Chapter 6. The political and economic environment .............................................................19 Chapter 8. The international market selection process .........................................................24 Part III. Market entry strategies............................................................................................28 Chapter 9. Some approaches to the choice of entry mode ...................................................29 Chapter 10. Export modes....................................................................................................31 Chapter 11. Intermediate entry modes .................................................................................34 Chapter 12. Hierarchical modes ...........................................................................................39 Chapter 13. International sourcing decisions and the role of the supplier .............................42 Part IV. Designing the global marketing programme.............................................................43 Chapter 14. Product decisions..............................................................................................44 Chapter 15. Pricing decisions and terms of doing business..................................................49 Chapter 16. Distribution decisions ........................................................................................54 Chapter 17. Communication decisions (promotion strategies)..............................................59 Chapter 19. Organization and control of the global marketing programme ...........................62 Downloaded at Knoowy.com - Marketplace for study documentsGlobal marketing 2 Chapter 1. Global marketing in the firm Going into an export adventure or not? It is often the case that a firm going into export adventures should have stayed in the home market because it did not have the necessary competences to start exporting. The five-stage decision model in global marketing Globalization - The world is a level playing field  all players and competitors have an equal opportunity (because the world is getting smaller, we have techniques to communicate and we can travel easily). - Home matters, but so do countries abroad  when distances increase, cross-border trade tends to decrease. Global strategy should not be based on elimination of differences and distances, but on understanding them. Developing the global marketing plan - The purpose of a marketing plan is to create sustainable competitive advantages. Not all types of companies follow the same process. - LSEs: more than 250 people - SMEs: small is less than 50 people, medium between 50 and 250 people. The systemized process of SMEs: figure 1.2 (heel groot model in Global Marketing) Formation of strategy - As the environment changes, continual adjustments will be needed. Downloaded at Knoowy.com - Marketplace for study documentsGlobal marketing 3 The less systemized process of SMEs - The entrepreneurial decision-making model SMEs - Organization o Compared to LSEs the employees are closer to the entrepreneur and these employees must conform to the entrepreneur’s personality and style if they are to remain employees. - Risk-raking o Normally the LSEs will be risk-averse because of their use of a decision making model that emphasizes small incremental steps wth a focus on longterm opportunities o On the other hand, there are some circumstances in which an SME will be risk-averse. This often occurs when an enterprise has been damaged by previous risk-taking and the entrepreneur is reluctant to take any kind of risk until confidence returns. - Flexibility o Because of the shorter communication lines between the enterprise and its customers, SMEs can react in a quicker and more flexible way to customer enquiries. Internationalize or not? - The nine strategic windows It is not all strategy, a lot depends on the firm’s management’s assumptions or beliefs. Downloaded at Knoowy.com - Marketplace for study documentsGlobal marketing 4 The world view of a firm according to the EPRG framework. 1. Ethnocentric: the home country is superior and the needs of the home country are most relevant. 2. Polycentric: each country is unique and should therefore be targeted in a different way 3. Region centric: the world consists of regions. 4. Geocentric: the world is getting smaller and smaller. - Understand what kind of assumptions manager make based on their beliefs and experiences - Use it as a tool to analyse how a certain company thinks and works Think global, act local - The globalization framework [Show More]

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