Beruflich Dokumente
Kultur Dokumente
( MODULE 1 )
BY S.SURYANARAYANAN
DEFINITION
- International marketing focuses its resources on global market opportunities and threats (Keegan and Green) Marketing in an internationally competitive environment, no matter whether the market is home or foreign.
Similarities: basic concepts, practices and tools are almost identical, key success factors are the same Differences: more strategic, more variables, more complex, cultural differences, legal constraints, information sources, managing distances, entry mode choice
DRIVING FORCES
TECHNOLOGY---like telecom
DRIVING FORCEScontd.
WORLD ECONOMIC TRENDS1.growth and opportunity 2.low resistance from domestic business 3.liberisation and privatization.
LEVERAGES1.experience transfers 2.scale of economies 3 resource utilisation 4. global strategy
RESTRAINING FORCES
ORGANISATION CULTUREvision,mission,direction
NATIONAL CONTROLS AND BARRIERSgovt.policies and controls
Domestic
Export stage
International marketing stage Multi national stage Global marketing stage
MANAGEMENT ORIENTATION
Mercantilism-----the trade theory that states that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports is called mercantilism. Absolute Advantage----A country that has an absolute advantage produces greater output of a good or service than other countries using the same amount of resources. Comparative Advantage----The principle of comparative
advantage states that a country should specialise in producing and exporting those products in which is has a comparative, or relative cost, advantage compared with other countries and should import those goods in which it has a comparative disadvantage.
Heckscher-Ohlin Theory (factor proportions theory)-----The Heckscher-Ohlin theory stresses that countries should produce and export goods that require resources (factors) that are abundant and import goods that require resources in short supply.
Product Life Cycle Theory------The international product life cycle theory stresses that a company will begin to export its product and later take on foreign direct investment as the product moves through its life cycle.
BALANCE OF PAYMENTS
A countrys balance of payments is commonly defined as the record of transactions between its residents and foreign residents over a specified period. CAPITAL ACCOUNT SURPLUS/DEFICIT CURRENT ACCOUNT SURPLUS/DEFICIT CURRENCY CONVERTIBILITY
References: 1.International Marketinganalysis and strategy by Sak Onkvisit and John Shaw 2.International Marketing by Francis Cherunilam 3.Global Marketing Management by Warren J Keegan and Naval K Bhargava