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Concepts of International
Marketing
Rodrigo Wagner
Is your main export a differentiated good?
There is always some differentiation
International Marketing: A Definition
So International marketing
is just marketing
but international
Marketing concepts, processes, and principles are universally applicable all over the
world
International Marketing
Foreign Environment
(Uncontrollables)
7. Structure of 1. Competition
Distribution Domestic environment Environmental
(Uncontrollables) uncontrollables
country market A
(Controllables) 1. Competition
Price Product 2. Technology
5. Political- Target Environmental
Market 7
6. Geography and Legal uncontrollables
Infrastructure Promotion Place or 2 .Technology country
Distribution market B
4.
Culture
3. Economy Environmental
5. Political- 3. Economy uncontrollables
Legal country
market C
4.
Culture
Adaptation Needed
Adaptation needed
You need to adapt de 4Ps to the international
environment that you cannot control!
International Marketing
Global Marketing
Nikes big jump!
Michael Jordan.
The market
Sales
Introduction
Marketing as one one part of the means needed for Pursuing an International Strategy
Marketing Strategies also relevant
in international context
Marketing strategy depends on marketing
orientation
Production max(x) q(x)
Sales max(x) p(x) q(x)
Customer e.g. Customer lifetime value
Strategic marketing max(x) NPV(p(x) q(x)-cost(x))
Social marketing.
Market diversity
Consumers may be willing to pay higher prices
You do not want to have a price that is too far from the one of your competitors.
See Benguria & Wagner ; 2012
Pricing Strategies: product diversion
Gray market or product diversion
the selling and handling of goods through unofficial distributors
Examples of
new export
products in
Chile.
Wagner &
Zahler (2014)
When to enter? Followers may copy you although might not be for you
Summing up
Marketing needs adaptation for Intl Bus.
Price: exchange rate, willingness to pay, currency
Product: adaptation vs standardization.
Promotion: standardize vs adapt, cultural differen.
Distribution: central piece of value chain.