To exemplify, any multinational international company would not like to be called as local, however the same wants a domestic touch in the host country and there lies the. Globalization can be defined as a process in which geographic distance becomes a factor of diminishing importance in the establishment and maintenance of cross border economic, political and sociocultural relations. Marketing management is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Global marketing management, eighth edition, presents the latest developments in global marketing within the context of the whole organization, making internal and external connections where appropriate for a deeper understanding of global business from a managerial point of view. Global market segmentation, targeting and global product positioning. The term globalization describes businesses deployment of facilities and operations around the world. The global marketing audit defined 418 planning and budgeting 421. The ultimate goal is to enhance their current position to take advantage of opportunities existing in the global marketplace. Whether your company is already multinational, or you are domestic company looking into foreign expansion, there are many strategic. Global marketing management, 7th edition masaaki mike kotabe. Political differences and interferences have also been some of the most important factors for consideration in the development of a.
New york, and markplus, indonesias leading marketing consulting firm. The global marketing strategy is thus different from the globalisation of the market. As global competition increases, multinational companies must change how they manage and alter their organizational structures accordingly. The present article proposes to analyze marketing planning within the context of innovative organizational structures. Promotion promotion comes into picture when a global company wants to communicate its offering to potential customers.
Dec 17, 2010 mbaib global marketing management unit i objectives to give a broader understanding of the global marketing management concepts and main issues of global business. While drawing from a variety of academic disciplines, and to help managers respond to the challenge of creative problem solving, principles of management have long been categorized into the four major functions of planning, organizing, leading, and controlling the polc framework. The key to success is a worldwide marketing system that retains a strong local country customer focus along with a global marketing strategy as summarized by the chairman and ceo of groupe danone below. Global marketing is marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives global marketing is also a field of study in general business management that aims to market products, solutions and services to customers locally, nationally, and internationally. Unit i objectives to give a broader understanding of the global marketing management concepts and main issues of global business. Keegan, global marketing management, 8th edition pearson. Prior to nineties, the term global marketing or even international business in a broader sense, i. Global marketing management planning and organization free download as powerpoint presentation. He wrote the first multinational marketing textbook and is one of the worlds leading experts on marketing and global business. Strategic planning marketing strategy marketing plan the analysis of meeting target markets needs written.
The planning process exporting is also a common approach for mature international companies with strong marketing and relational capabilities. Planning, implementing, and controlling marketing strategies. The past and future of global organizations mckinsey. Read on to learn more about responsibilities in this field of management and education programs that can prepare you to. Marketing imperative, global marketing plan, international market. Marketing mistakes and successes, 12th edition robert f. Global strategic management offers a clear insight on the effect of globalization in business management and organizations and hence it demands that managers should respond in the same or higher intensity in order to reap in the high benefits that come with it, managers and ceos have to understand that the global phenomenon does not just. Global marketing management planning and organization. Strategic marketing builds off of market knowledge to develop a customercentered strategy, or plan and approach, to marketing campaigns with the ultimate goal of profitability for the organization. Planning, organization, and control of global marketing operations 18.
International marketing management department of higher. Global marketing strategy development 346 ll global product policy decisions l. Throughout the course we consider employee behaviour from a productive and ethical stand point and emphasise the key role of leadership. By definition, marketing is a social and managerial process through which individuals and groups benefit from what they. Marketing managementis the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that. The texts guiding principle, as laid out concisely and methodically by authors kotabe and helsen, is that the realities of international marketing are more multilateral.
Some of americas largest companies engage in exporting as their major marketentry method. Chapter 3 tackles the issues relating to globalization and the implications they have on the management of global marketing. The global marketing plan 160 regional market characteristics 160 european union 161 russia 162. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Two decades ago, the term global marketing did not even exist. This unit gives students an understanding of the factors that how the international trade system and the economic, political, legal and cultural environments affect a. Globalization can be defined as a process in which geographic distance becomes a factor of diminishing importance in the establishment and maintenance of cross. Ddt international marketing chapter 11 global marketing management. Global marketing strategy 263 benefits of global marketing 265 cost reduction 265 improved products and program effectiveness 265 enhanced customer preference 267 increased competitive advantage 267 limits to global marketing 268 regionalization of global marketing strategy 269 crosssubsidization of markets 273 identification of weak market. Managements task in a matrix organisation is to bring together all the above perspectives and skills to achieve particular objectives. This unit gives students an understanding of the factors that how the international trade system and the economic, political, legal and cultural environments affect a companys. International planning process texas tech university.
International marketing is the extension of an organization s product or services into another country. Marketing activities are concerned with the demand stimulating and demand fulfilling efforts of the enterprise. International marketing exam notes marketing and marketing management marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways. Global marketing management is of great importance to a company that is looking to offer its product in an international market. Global management refers to the way an organization manages its business internationally, including its sales, marketing, hiring and finance practices. Pdf global marketing management eugene huynh academia. International marketing exam notes marketing and marketing. Master franchise gives the franchisee the rights to a specific area, with the authority to sell or stablish subfranchises. In order to explore the complexities of developing a strategic marketing plan, this article is. In this course we consider it important to make this distinction and to see how it affects international marketing strategies.
Global human resource management meaning and objectives. What it is and what it is not 29 the standardization debate 30 globalization and global marketing 34 management orientations 37 ethnocentric orientation 38 polycentric orientation 39 regiocentric and geocentric orientations 39 driving and restraining forces 40 driving forces 41 restraining forces 48 outline of this book 49. Well explore the top 10 capabilities that leading companies are building into their organizations. He wrote the first multinational marketing textbook and is one of. Strategic planning marketing strategy marketing plan.
Managing global operations in production and operations. This lesson will give a high level overview of the planning. The chapter starts by looking at the evolution of a firms orientation from primarily a domestic producer to a global player. Opening such profit opportunities beyond their borders, though, created new planning, resourceallocation, and management control issues, as well as unprecedented organizational strains. Corporate organization will be characteristic of growing global competition 64. World trade organization 39 financial services in wtogatt 44 wto and ecommerce 45. Building a foundation for your future 4 customer characteristics and purchasing hot buttons provide the information needed to decide whether the firm can and should attempt to gain or maintain a sustainable competitive advantage for marketing to a particular market segment lehmann and winer 1994. A managers primary challenge is to solve problems creatively.
Exportimport management managing global operations 17. Many schools offer training and degree programs in global management. The cmo solution guide for building a modern marketing organization 4 1 acumen there are new skills the team must incorporate to become effective modern marketers. The preliminary function of global human resource management is that the organization carries a local appeal in the host country despite maintaining an international feel. International marketing exam notes marketing and marketing management marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Today, many companies have trouble deciding whether using a truly global marketing strategy is right for them. Marketing is the function that adjusts an organizations. Exporting, contractual agreements, strategic international. Licensing a local franchisee the right to use a product, good, service, trademark, patent, or other asset for a fee.
Originator of total quality management continuous management innovation. Marketing is designed to bring about desired exchanges with target audiences for the purpose of mutual gain. Global marketing implies that your organization standardizes its marketing programs, coordinates across markets and practices global integration. Schematic marketing organization plan combining product, geographic, and functional approaches. Managing global operations production and operations management. Global marketing is also a field of study in general business management that aims to market products, solutions and services to customers locally, nationally, and internationally. Chap011 chapter 11 global marketing management planning and. Old structures and relationships that had worked smoothly for an exportoriented domestic company were no longer appropriate as global engagement increased. The 7th edition of global marketing management prepares students to become effective managers overseeing global marketing activities in an increasingly competitive environment. Social media has changed the basic approach that marketing has in principle.
To describe what is involved in planning for global marketing. Strategic planning for export marketing, franklin r root scranton, international textbook co. Global perspective global gateways global marketing management an old debate and a new view planning for global markets alternative market entry strategies organizing for global competition introduction global competition forced mncs to change marketing strategies and organizational structure change is not limited to large companies execution. The role of finance and the management of financial resources in the international organization are also considered along with their supporting systems. Global marketing management global marketing today.
In order to define strategic marketing, you must also consider how this strategy applies to concepts like marketing research, social media. A global company needs to understand the requirements to service countryspecific customers with global standard solutions and products. Organising, planning and controlling global marketing. Scribd is the worlds largest social reading and publishing site. Youll learn more about planning in chapter 5 on planning and decision making, chapter 6 on organizational strategy, chapter 7 on innovation and change, and chapter 8 on global management. How an organization chooses to promote its products and services can have a direct and substantial impact on its sales. Global marketing management second edition masaaki kotabe temple university. It then goes on to describe the major factors that have led to global marketing, including both economic and social.
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