Global Marketing Strategies for Success
Success in today's global market requires maintaining quality, implementing green marketing practices, and innovating products to meet consumer demands. Understanding the diffusion of innovations and key characteristics of products are essential for effective international marketing. Explore the product component model and learn how to market consumer services globally.
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Presentation Transcript
International Marketing 15th edition Philip R. Cateora, Mary C. Gilly, and John L. Graham
Maintaining Quality 13 Damage in the distribution chain Russian chocolate Quality is essential for success in today s competitive global market The decision to standardize or adapt a product is crucial in delivering quality Roy Philip 2
Green Marketing and Product Development 13 Green marketing concerns the environmental consequences of a variety of marketing activities Critical issues affecting product development Control of the packaging component of solid waste Consumer demand for environmentally friendly products European Commission guidelines for ecolabeling Laws to control solid waste Roy Philip 3
Innovative Products and Adaptation Determining the degree of newness as perceived by the intended market Diffusion Established patterns of consumption and behavior Foreign marketing goal Gaining the largest number of consumers in the market In the shortest span of time Probable rate of acceptance 13 Roy Philip 4
Diffusion of Innovations 13 Crucial elements in the diffusion of new ideas An innovation Which is communicated through certain channels Over time Among the members of a social system The element of time Variables affecting the rate of diffusion of an object Degree of perceived newness Perceived attributes of the innovation Method used to communicate the idea Roy Philip 5
Five Characteristics of an Innovation 13 Relative advantage Compatibility Complexity Trialability Observability Roy Philip 6
Product Component Model 13 Exhibit 13.1 Roy Philip 7
Marketing Consumer Services Globally 13 More than half of Fortune 500 companies are primarily service providers Consumer services characteristics Intangibility Inseparability Heterogeneity Perishability A service can be marketed As an industrial (business-to-business) A consumer service Roy Philip 8
Services Opportunities in Global Markets 13 Tourism Transportation Financial services Education Communications Entertainment Information Health care Roy Philip 9
Barriers to Entering Global Markets for Consumer Services 13 Four kinds of barriers face consumer service marketers: Protectionism Restrictions on transborder data flows Protection of intellectual property Cultural barriers and adaptation Roy Philip 10
Brands in 13 International Markets Aglobal brand is the worldwide use of a name, term, sign, symbol, design, or combination Intended to identify goods or services of one seller To differentiate them from those of competitors Importance is unquestionable Most valuable company resource Roy Philip 11
Global Brands 13 The Internet and other technologies accelerate the pace of the globalization of brands Ideally gives the company a uniform worldwide image Balance Ability to translate Roy Philip 12
Country-of-Origin Effects and Global Brands (1 of 2) 13 Country-of-Origin effect Influences that the country of manufacture, assembly, or design Has on a consumer s positive or negative perception of a product Consumers have broad but somewhat vague stereotypes about specific countries and specific product categories that they judge best Ethnocentrism Roy Philip 13
Country-of-Origin Effects and Global Brands (2 of 2) 13 Countries are stereotyped On the basis of whether they are industrialized In the process of industrializing In process of developing Technical products Perception of one manufactured in a less- developed or newly industrializing country less positive Fads often surround product from particular countries or regions Roy Philip 14
