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Related Flashcards
Related Topics
Cards In This Set
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Growth
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Access to new marketsaccess to new resources
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Survival
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Against competitors with lower costs (due to increased access to resources)
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What is marketing
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Marketing is the process of planing and executing the conception, pricing and services to create exchanges that satisfy individual and organizational goals
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Global marketing
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Focuses on the global market opportunities and threats
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Differences between global marketing and marketing
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Scope of activities nature of activites
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What makes a global industry
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An industry is global to the extent that a companies industry position in one country is inter depended with its industry position in another country
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Indicators of globalization:
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Ratio of cross border trade to total worldwide production
ratio of cross border investment to total capital investment proportion of industry revenue generated by companies that compete in key world regions |
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Keys to global success
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Value creationcompetitive advantagefocus
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Value creation
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Value=benefits/price -price is a function of money,time, and effort -benefits result from the product, promotion and distribution
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2 methods of value creation
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Improved benefits
lower prices |
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Competitive advatage
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Success over competition in industry at value creationachieved by integrative and leveraging operation on a global scale
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Focus
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Concentration and attention on core business and competence
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Globalization
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Developing standardized products marketed worldwide with a standardized marketing mix
essence of mass marketing |
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Global localization
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Mixing standardization with customization in a way that minimizes costs while maximizing satisfaction
essence of segmentation think globally act locally |
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How does a company decide which markets to enter
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Company resourcesmanagerial mind-setnature of opportunities and threats in that market
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