chapter 21 tapping into global market
DESCRIPTION
TRANSCRIPT
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Presented by:
BLAZING Nathaniel Lee
Chapter 21 - Tapping Into Global MarketA Visual Presentation
![Page 2: Chapter 21 Tapping into Global Market](https://reader033.vdocuments.us/reader033/viewer/2022061300/54ce7fd54a7959ae4f8b458f/html5/thumbnails/2.jpg)
The Global Market
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Companies need to internationalize their operations.
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In order to compete with global competitors.
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The benefits of going abroad include: high profit opportunities
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The benefits of going abroad include: aid in achieving economies of scale
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The benefits of going abroad include: reduce dependence in a single market.
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However, it poses several risks.
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First is foreign preference.
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Another one is: the different business culture
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Finally, there are:specific foreign regulations.
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Companies can enter a market through several means.
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They can directly export.
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They can work through intermediaries.
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They can offer another company a license.
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Or they can enter a joint venture with a local company.
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There are three things that must be considered when planning on entering a global market.
3
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First is PRODUCT.
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The company may prefer to introduce the product without changes but it may result to
disaster.
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The company may alter the product to meet local preference.
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Or invent a new product or reintroduce an earlier product.
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Next is COMMUNICATION.
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Communication adaptation occurs when the firm uses the original marketing or adapts it to the
local market.
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The firm may develop a pool of ads where they choose the most appropriate one per location or
area..
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Finally, there is PRICE.
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This occurs when additional costs such as transportation, taxes, tariffs, etc.
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Countries with overcapacity, cheap currency with aggressive exporting resulted to low demand and
reluctance to pay higher.
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In recent times, governments realize the image of their countries affect not just tourism but commerce as well.
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The good image of a country can attract investors thus providing jobs and improve infrastructure. Marketing now does not only involve
products or services alone but countries and cities as well.
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Global marketers now know that buyers hold distinct attitudes and perceptions about products (and brands) from a particular
country.
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A brand that is perceived as successful on a global stage may lend credibility and respect.
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Presented by:
BLAZING Nathaniel Lee
Chapter 21 - Tapping Into Global MarketA Visual Presentation
Thank you very much.