Global marketing strategies.

Significance of global marketing.

Domestic markets are saturatedRecover the investments fasterRapid technical growth.Effect of globalization and reduction of boundaries.

Selecting a potential market.Regional Free Trade Zone.Ensure economic growthIncrease trade relationsIncrease foreign capital inflowsCreate economic trade blocs.Integrate policies of member countries.

Evaluation of Potential markets.Analyses markets on the basis of macro environmental factors.Analyzing the market size, product acceptability and customer perceptions.Analyzing micro environmental factors Ranking the potential markets based on profit potential, market share ,investments, margins sales etc.

The impact of environmental forces on global marketing.Economic environment.Political environment.Social and cultural environment.Legal and regulatory environment.Technological environment.

Methods of entering a new market.Direct exportsIndirect exportsLicensingJoint venturesMergersStrategic alliances

Direct exportsCompanies sells their goods through middle men located in foreign countries More control over distribution channel Open their own sales offices. Textiles TirupurGoa winesAuto parts

Indirect exportsExporting through a domestic intermediary Brokers , export managers, agents Minimum riskMarble stones in Rajasthan

Licensing

Form of providing access to a patent or trade mark to some other company by charging a fee or royaltyCompanies with strong brand names Pharmaceutical industries

Joint ventures

Foreign company invites a local company to become an equity partner share risk Have access to indepth knowledge of the local market

Internationalization Entry modes and timings. Maturity stage start exports More exports technology transfer and new products More new products threat to domestic companies Govt protectionism Non tariff barriers

Stage of standardization contractual agreements or FDI Early phase contracts license , Franchising Later stages FDI Company specific know how JV Gain experience terminate JV and establish wholly owned subsidiary

Types of marketing organization

Export division- self sufficient export divisionInternational division-Separate division for international businessGlobal organization-whole organization handles international business

Developing global marketing strategiesProduct strategiesPromotion strategiesPricing strategiesPlace strategies

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