Chap 18 global market strategies
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CHAPTER 18: Global Market Strategies 119
Chapter 18
Global Market Strategies
A. Globalization Forces (TM 18-1)
B. Identifying Target Markets
1. Major Markets (TM 18-2)
2. Emerging Markets (TM 18-3)
3. Triad Market (TM 18-4)
C. Entry Strategies (TM 18-5)
D. Global Market Environment
1. Culture (TM 18-6)
2. Politics (TM 18-7)
3. Legal Environment (TM 18-8)
4. Commercial Practices (TM 18-9)
5. Economic Climate (TM 18-10)
E. Strategy for Global Marketing Programs
1. Localized Strategy (TM 18-11)
2. Standardized Strategy (TM 18-12)
F. Marketing in Global Business Strategy (TM 18-13)
120 CHAPTER 18: Global Market Strategies
18-1
FORCES LEADING TO
GLOBALIZATION OF MARKETS
• Growing similarity of countries
• Falling tariff barriers
• Strategic role of technology
CHAPTER 18: Global Market Strategies 121
18-2
MAJOR MARKETS
• United States
• Japan
• China
• Russia
• India
• Germany
• Italy
• France
• United Kingdom
• Brazil
• Mexico
• Canada
122 CHAPTER 18: Global Market Strategies
18-3
EMERGING MARKETS
In recent years, developing countries have begun
to show viable market potential:
• Asian/Pacific countries
• Latin American countries
CHAPTER 18: Global Market Strategies 123
18-4
TRIAD MARKET
Triad countries are truly the principal markets:
• United States
• Western Europe
• Japan
124 CHAPTER 18: Global Market Strategies
18-5
ENTRY STRATEGIES
Four different modes of entry into foreign markets
are:
• Exporting.
• Contractual agreements.
• Joint ventures.
• Manufacturing.
CHAPTER 18: Global Market Strategies 125
18-6
CULTURE
Culture refers to learned behavior over time,
passed on from generation to generation. Five
elements of culture are:
• Material culture.
• Social institutions.
• Man and universe.
• Aesthetics.
• Language.
126 CHAPTER 18: Global Market Strategies
18-7
POLITICS
Even in democratic societies, governments exercise
a pervasive influence on business decisions. Therefore, to be successful overseas, a global marketer
should determine the most favorable political
climates and exploit those opportunities first.
CHAPTER 18: Global Market Strategies 127
18-8
LEGAL ENVIRONMENT
Despite the best intentions, differences may reasonably arise between parties doing business. What
recourse exists for the resolution of differences and
whose laws will apply are of vital concern to global
marketers.
128 CHAPTER 18: Global Market Strategies
18-9
COMMERCIAL PRACTICES
An international marketer must be thoroughly
familiar with the business customs and practices in
effect in overseas markets. Important factors here
are:
• Business structures.
• Management attitudes and behavior.
• Patterns of competition.
• Mode of doing business.
CHAPTER 18: Global Market Strategies 129
18-10
ECONOMIC CLIMATE
Level of economic development of a country
constitutes an important determinant of market
potential. Economic environment can be viewed
from two angles:
• Macro view
• Micro view
130 CHAPTER 18: Global Market Strategies
18-11
LOCALIZED STRATEGY
Due to cultural and other differences among
countries, marketing programs should be tailormade for each country.
CHAPTER 18: Global Market Strategies 131
18-12
STANDARDIZED STRATEGY
The worldwide marketplace has become so homogenized that multinational corporations can use
identical strategies to market standardized products
and services all over the world, thus lowering their
costs and earning higher margins
132 CHAPTER 18: Global Market Strategies
18-13
MARKETING IN GLOBAL BUSINESS
STRATEGY
International marketing strategy is significant in formulating global business strategy in three different
ways:
• Configuration of marketing activities.
• International marketing coordination.
• Marketing’s linkage to nonmarketing activities.
