embaintmkt012010

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Session 1 IntroductiontotheCourse/Environmental Factors 7/04/10 a.m.

Session 2 Market Entry/International STP 7/04/10 p.m.

Session3 GlobalProductand Branding Decisions 7/18/10 a.m.

Session 4 Case Study I 7/18/10 p.m.

Session 5 GlobalPricingand Distribution Decisions 8/01/10 a.m.

Session 6 Case Study II 8/01/10 p.m.

Session 7 Global MarketingCommunications 8/15/10 a.m.

Session 8 FinalPresentation 8/15/10 p.m.


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Case 1: Wal-Mart Stores, Inc.

Case 2: McDonalds

Case3: Starbucksin 2004

Case 4: Harley Davidson

Case 5: Gillette Indonesia

Case 6: LVMH

Case 7: Samsung ElectronicsComapny

Case 8: P&G Japan: The SK-II GlobalizationProject


7/77

Individual MiniProject: Takethe VALS

surveyonthewebsite (http://www.sric-bi.com)

andwritealearningreport (twopages, atmost).

Group MiniProject: Storecheck orCountrySnapshots


8/77

261135

29393091 81135 E-mail Address [email protected]

8:30 12:30 & 13:30 17:30


9/77

Introduction to International

Marketing Management


10/77

A Historical Perspective The MultinationalPhase

Foreignmarketscouldbepenetratedeasily

Sinceproductionwasoftenlocalized, productscouldbe

adaptedtolocalmarkets Multinational Marketing

Marketingtodifferentcountrieswithlocaladaptation

ofproductsandpromotions

TheGlobalPhase

Theappearanceofstrongforeigncompetitorsinthe U.S.was

amajorforcebehindtheemergenceoftheglobalperspective

Japanesecompanieshadenteredthe U.S.marketwith

spectacularsuccessinmarketssuchasautosand

consumerelectronics


11/77

A Historical Perspective

The Antiglobalization Phase

Theantiglobalization forcesgainedsteamthroughouttheyear

2000

Questioningoftheeconomicandsocialbenefitsofglobalizationcontinued

Theantiglobalization argumentsinvolveamixofeconomic,

political, andsocialissues

Onemaincomplaintisthatglobalizationhasfailedtoliftthe

standardoflivingofmanythird-worldcountrieswhilemultinationalcompanieshaveprofitedsignificantly


12/77

LEVEL OFLEVEL OF

LOCALIZATIONLOCALIZATION

TIMETIME

LocalLocal

GlobalGlobal

Global phaseGlobal phase AntiAnti--globalizationglobalization

phasephase

MultiMulti--national phasenational phase

19801980 20002000

Local to Global and Back?


13/77

International and Global Marketing

and Related Fields of StudyInternational Business

Global

Marketing

International

Trade

International

Management

International

Marketing

International

Finance


14/77

Global Marketing vs.

Regular Marketing

UniversalityofMarketingConcepts

Exchange Relationship

Value Delivery MarketOrientation

PerspectiveofStakeholders

Marketing Mix

UniquenessofGlobal Marketing

TheContext

The ScopeofActivities

SpecificConcepts, Considerations, and Strategies


15/77

Why Marketing?ShareholderValue

Firm

Organizational

survivaland

growth

Currentand

potentialprofits

Attractand

retaincustomers

Customer

Value

Competitors Competitors

Product Market Region

Capital Market Region


16/77

Customer Value

Thecustomersperceptionofthetotalbenefitstobe

derivedfromaproductorserviceversusthetotal

perceivedcostsofacquisitionandownership

Customertypicallyhavesomeimplicitpreconception

aboutthe rightratioofbenefitstocosts

Havingcomparedavailablealternatives, customers

selecttheonethattheythinkwillgivethembestvalue

Valueisarelativeconcept;itisperceivedrelativeto

competitorofferings


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Customer Value (II) Customer Value = Perceived Benefits

PerceivedCosts

Perceived Benefits = Functional Benefits + SocialBenefits + Personal Benefits + Experiential Benefits

PerceivedCosts=MonetaryCosts + {TemporalCosts+

PsychologicalCosts + BehavioralCosts}

Shopping Costs orShopping Costs or

Transaction CostsTransaction Costs


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Value Proposition


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The Principles

Forthefirmtomakeprofititmustcreatevaluefor

customers thefirmmustunderstanditscustomers

Increatingvalue, thefirmacquiresgoodsandservicesfromsuppliers thefirmmustunderstandits

suppliersandhowtoformbusinessrelationshipswith

them

Theabilitytogenerateprofitabilityfromvalue-creating

activitydependsontheintensityofcompetitionamong

thefirmsthatvieforthesamevalue-creating

opportunities thefirmmustunderstand

competition


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Competitive Perspective

Marketingbookswiththeterm warfareintitle

Thetraditionalviewofthemarketingconceptisafocus

ontheneedsandwantsofthecustomer Sincethe 1980, ithasbecomeincreasinglyclearthat

meetingcustomerneedsisnotenoughforsuccess

Whatiscriticaltoaproductssuccessismeeting

customerneedsbetterthanacompetitorcan, oftenata

lowercost

Thebiggestenemyofgoodisbetter--Voltaire


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Network of the Marketing Mix

Value

CreationF.E.E.D.

4 Psor

Others

FunctionsFunctions ToolsTools

Marketing MixObjectives

RelativePerformance

Trust

Transaction-

based Exchange

Long-term

Relationship-

based Exchange

Outcome Exchange


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FEED Values to Customers

Fulfilling Benefit Requirements

Establishing Total Acceptable Transaction

Costs

EngaginginProduct-Inherent Value Message

Communication

DeliveringP

rocess-Inherent TransactionFacilitators


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Synergy

A systemisacombinationofcomponentparts

indynamicinteractionwithoneanother;the

jointeffectsoftheircombinedpartsarereferredtoassynergy.

Consistency Requirement + Compelmentarity

Requirement Synergy

The3 Ms: Management; Marketing;

Marketplace


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Principles ofConsistency and

Complementarity

Purity

Unscented Mild White

ComplementarityComplementarity


25/77

Interactions Among the 3 Ms

Macro

Environment

Operating

Environment

Internal

Environment

SBUsProduct

Services

Firm

DistributionPromotion

Price

Product

MarketingMarketplace

Management


26/77

Relevant Terms (I)

Domestic Marketing

Marketingaimedatafirmsdomesticmarket

Export Marketing A firmmarketsitsproductsoutsideitsmain

(domestic)baseofoperationandwhenproductsare

physicallyshippedfromonemarketorcountryto

another International Marketing

A firmbecomesmuchmoreinvolvedinthelocal

environmentwithinaforeigncountryormarket


27/77

Relevant Terms (II)

Multinational (Multidomestic) Marketing

A firmoperatesinanumberofforeigncountriesor

marketsasifitwerealocalcompany

Pan-Regional Marketing

A firmbeginstoemphasizestrategiesforlarger

regions

Global Marketing Marketingactivitiescoordinatedandintegrated

acrossmultiplecountries


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Theoretical Foundations


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Thefundamentalaimofbusinessstrategyistocreateandsustain

competitiveadvantage

Whendoingcompetitiveanalysisintheglobalcontextitis

importanttoidentifywhetheracompanysstrengthisfirm-specific

orcountry-specific

Ifthecompanysstrengthisnotfirm-specific, thecompetitiveadvantageisusuallylesssustainablesincethecompanycannot

preventimitation

Country and Firm Specific Advantages


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COUNTRY (CSAs) Comparativeadvantages;

Location-specificadvantages

FIRM (FSAs) Differentialadvantages;ownership-

specificadvantages

LevelLevel SynonymSynonym

Country and Firm Specific Advantages


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Country Specific Advantages (CSAs)

Comparativeand Absolute AdvantagesProvidesthefundamentalrationalefortheexistenceof

internationaltrade

Freetradebetweentwocountriesyieldseconomic

payoffstothecountries (intermsofhigherwelfare)

providedthecountrieshavedifferentCOMPARATIVE advantages

Itisnotimportantifonecountryisbetterthananotherinproducingallkindsofproducts, i.e.hasanABSOLUTE advantage.

Itisnecessarythattradebefree

Intheabsenceoffreetrade, eachcountryhastobemoreself-sufficient, andlessspecializationispossible


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Firm-Specific Advantages (FSAs)

Firm-specificadvantagesrefertothosecompetitive

advantageswhicharecontrolledbytheindividualfirm

alone.

Firm-specificadvantagesmaybeofseveralkinds

Examplesincludeapatent, trademark, orbrandname

orthecontrolofrawmaterialsrequiredforthe

manufacturingoftheproduct.

Fromamarketingperspective

Itisimportanttorecognizethatthesourceofa

firm-specificadvantagecandependonspecific

marketknow-how


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1. BRAND CocaCola, Mercedes Benz, Sony

2. TECHNOLOGY Ericsson, BMW, Canon

3. ADVERTISIN

G Marlboro, Unilever,

Absolut Vodka

4. DISTRIBUTION Kodak, Panasonic,

Gillette

5. VALUE Toyota, IKEA, Compaq

FSAs in Marketing


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FSAs and Marketing Strategy

yA clearunderstandingofthe FSAsisakeytothe

formulationofasuccessfulmarketingstrategyina

country

yDifferinglevelsofmarketacceptanceofthefirm-specificadvantageslimitsthedegreetowhicha

companycanbesuccessfulabroad

y Thelevelofacceptancealsolimitsthedegreeto

whichthemarketingeffortcanbestandardized

yNotall FSAscanbetransferredtoforeignmarkets.


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FSAs and Transferability

Variousfactorscanmaketheapplicationof

marketing FSAsdifficultinothercountries

Theseincludelimitson TV advertisingandin-storepromotion.

Therearealsolimitsonwhatdistribution

channelsareavailable.

Inservices, amajordifficultyintransferringmarketingskillsabroad isthatserviceskills

oftenrepresentintangibles, notskills embodied

intheproductitself(astechnologytypicallyis).


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Early Entrant Advantages

Economic

e.g., Entry BarriersCreatedby Switching

CostsandPreemptivePositioning

Psychological

CognitiveProcessofIndividual

Consumers


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Globalization for Later Movers

OrganizationalConfidence

A Clear Strategy

A Passionfor Learning

The Leadershipto Bringthese Factors

Together


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Liability of Origin

LockedinaPrisonofLocal Standards

UnawareoftheCompanysGlobalPotentialor

Too Debilitatedby Self-doubttoCapitalizeonIt

A Limited ExposuretoGlobalCompetition


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Strategy for Late Movers

Benchmarkand Sidestep (Wendys)

ConfrontandChallenge (VIA)

Embraceand Extend (Microsoft)


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Globalization vs. Localization

To Standardize Or Not To Standardize?

Markets Homogeneous/Heterogeneous

Competition Fragmented/Oligopoly

Orientation E/P/R/G

Operations World-Scale/Local-Scale

Marketing Mix Extension/Adaptation

Elements


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Management Orientations

Ethnocentrism

Strategicdecisionsareguidedbythevaluesand

interestsoftheparentcompany

Polycentrism

Strategicdecisionsaretailoredtosuittheculturesof

thehostcountries

Regiocentrism

Blendstheinterestsoftheparentwiththatofthesubsidiariesatleastonalimitedbasis

Geocentrism

Integratesdiversesubsidiariesthroughaglobal

systemsapproachtodecisionmaking


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The Fox vs. The Hedgehog

Sir Isaiah Berlindistinguishedbetween Dostoevskiand

Tolstoy

Thefoxknowsalotaboutagreatmanythings Themultinationalcorporationknowsalotaboutagreatmany

countriesandcongeniallyadaptstosupposeddifferences

Thehedgehogknowseverythingaboutonegreatthing

Theglobalcorporationknowsabouttheabsoluteneedtobe

competitiveonaworldwidebasisaswellasnationallyandseeksconstantlytodrivedownthepricesbystandardizing

whatitsellsandhowitoperates


44/77

Important Truths

Theeraofstandardizationisending

Consumercommunitiesaregrowingmore

diverse-inethnicity, wealth, lifestyle, andvalues.

Geographicandotherdistinctionsareincreasinglyinimportance

Technologicaladvancesandnewdatamakeitlocalizestores, products, andserviceswithunprecedentedprecision


45/77

Global Localization

~Think Globally and Act Locally~

A CombinationofStandardizedand Localized

Approaches Requires Marketersto BehaveinaWay That IsGlobal

and Localatthe Same Timeby Respondingto

Similaritiesand DifferencesinWorld Markets

CocaCola

McDonalds


46/77

Learning How to Learn

Theglobalmarketplaceisinformationbasedand

knowledgeintensive

Youmustknowhowtolearn: itisthecentralskillthatallowsacompanytomovethevaluecurve

ProtectthePast

Tofullyexploittheresourcesandcapabilitiesthathave

providedcompetitiveadvantage

Buildthe Future

Totailortheproductorstrategytothenewenvironment


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E

nvironmental Factors


48/77

Drivers toward Globalization

Market Drivers

Competitive Drivers

Cost Drivers

Government Drivers


49/77

Country Income SegmentationHigh Income (Advanced Countries)

- Triad

- Others

Upper Middle Income (NIC's)

Lower Middle Income (DC's)

Low Income (LDC's)

Basket Cases (BC's)

+ $9,385

+ $3,036

+ $765

< $765


50/77

The Triad

KenichiOhmaesTriad Power

Triadization: The Huge, Homogeneous, andPredictable

Marketofthe Triad (the United States, Western

Europe, and Japan)

Today, fully 75 percentofworldincomeasmeasuredby

GNPislocatedinthe Triad

Intheexpanded Triad, the Japaneselegencompasses

theentirePacificregion;the Americanlegincludes

Canadaand Mexico;andtheboundaryin Europeis

movingeastward


51/77

The Expanding Triad

European Economic Area

N. American Free Trade Area

Japan and the Tigers

Population(million)GNP(billion) GNPPer Capita

393$ 8,354 $ 21,248

284 $ 19,831

374$ 8,293 $ 22,134

U.S., Canada, Mexico

Hong Kong,

Japan, Malaysia,

Singapore, South Korea, Taiwan,

Thailand

1997 figures

% of World: 7%30%

% of World: 5%21%

% of World: 7%30%EU: Austria,Belgium,

Denmark, Finland, France, Germany, Greece, Ireland, Italy,

Luxembourg, Netherlands, Portugal, Spain, Sweden, U.K.

EFTA: Iceland, Switzerland

$ 5,638


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Big Emerging Markets: 1997

BEM (Total) $4,248 $1,388 15 29 52

CEA (Total) 1,318 1,046 5 12 22

China 890 723 3 11 21

Taiwan 268 12,263 1 1


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Big Emerging Markets: 2010

BEM (Total) $7,673 $2,082 19 35 51

CEA (Total) 2,724 1,853 7 17 21

China 1,952 1,357 5 15 20

Taiwan 512 21,115 1 1


54/77

The East Asian Miracle

Superioraccumulationofphysical

andhumancapital.

Abilitytoallocatephysicalandresourcestohighlyproductive

investments.

Abilitytoacquireandmaster

technology.

Source: The World Bank, The East Asian Miracle


55/77

Purchasing PowerParityThe

Big Mac IndexCountry

Big MacPrice In

LocalCurrency

Exchange Rate

Implied By BPP

ActualOfficial

Exchange Rate

Over-or

Undervaluationof

LocalCurrency

France FFr18.50 7.28FFr/$1 7.44/$1 -2

Euro Zone 2.57 .99 .88/$1 -11

Switzerland SwFr6.30 2.48/$1 1.73/$1 +44

Canada C$3.33 1.31/$1 1.56/$1 -16

Japan 294 116/$1 124/$1 -7

Russia Ruble35.00 13.8/$1 28.9/$1 -52

U.S. $2.54 -- -- --


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Time Worked to Pay for a Big MacLongest TimeLongest Time Shortest TimeShortest Time

City Minutes City Minutes

NairobiNairobi 193193

CaracasCaracas 117117MoscowMoscow 104104

JakartaJakarta 103103

BudapestBudapest 9191

BombayBombay 8585

ManilaManila 7777

ShanghaiShanghai 7575

MexicoCityMexicoCity 7171

PraguePrague 5656

Chicago, Houston, TokyoChicago, Houston, Tokyo 99

Los AngelesLos Angeles 1010Hong KongHong Kong 1111

Toronto, New YorkToronto, New York 1212

LuxembourgLuxembourg 1313

Montreal, Sydney, ZurichMontreal, Sydney, Zurich 1414

Athens, GenevaAthens, Geneva 1515FrankfurtFrankfurt 1616

ViennaVienna 1717

BerlinBerlin 1818


57/77

Clusters

Clustersaregeographicconcentrationsofinterconnectedcompaniesandinstitutionsina

particularfield

Todayseconomicmapoftheworldis

dominatedbyclusters

A clustersboundariesaredefinedbythe

linkagesandcomplementaritiesacross

industriesandinstitutionsthataremost

importanttocompetition

A clusterisanalternativewayoforganizingthe

valuechain


58/77

Selected U.S. Clusters

Boston

Mutual Funds/Biotechnology/Softwareand

Networking/VentureCapital

Detroit

Auto EquipmentandParts

New YorkCity

Financial Services/Advertising/Publishing/Multimedia

Rochester Imaging Equipment

Seattle

Aircraft Equipmentand Design/Boatand Ship Building/Metal

Fabrication


59/77

The Impacts of Clusters

on Competition

IncreasetheProductivityofCompanies Basedin

the Area (Employeesand Suppliers, Specialized

Information, Complementarities, InstitutionsandPublicGoods, Better Motivationsand

Measurement)

Drivethe DirectionandPaceofInnovation

(MarketWindows, Learning, CompetitivePressure)

Stimulatethe FormationofNew Businesses

(Information, Market, Self-reinforcing)


60/77

Pattern of International

Competition A Multidomestic Industry: competitionineachcountryis

essentiallyindependentofcompetitioninothercountries

A firmcanandshouldmanageitsinternationalactivitieslikeaportfolio

Country-centeredstrategy

Competinginternationallyisdiscretionary

Competitorswillbedomesticcompaniesormultinationalswithstand-aloneoperationsabroad

A Global Industry: A firmscompetitivepositioninonecountryissignificantlyaffectedbyitspositioninothercountriesorviceversa.

A firmmustinsomewayintegrateitsactivitiesonaworldwidebasistocapturethelinkages

A globalcompetitorstillhastomaintainsomecountryperspective


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Social and Cultural Environments

Attitudes, Beliefs, and Values

Aesthetics

DietaryPreferences

LanguageandCommunication

High- and Low-ContextCultures

Standardizationvs. Adaptation


62/77

Hofstedes Description of Culture

Cultureisthecollectiveprogrammingofthe

mindwhichdistinguishesonegroupor

categoryofpeoplefromanother

Cultureisnotdirectlyaccessibletoobservation

butinferablefromverbalstatementsandother

behaviorsandusefulinpredictingstillotherobservableandmeasurableverbaland

nonverbalbehavior


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-Masculinityversus FemininityMasculinityisthedegreetowhichtoughvalueslikeassertiveness,

performance, success, andcompetition, whichinnearlyallsocietiesare

associatedwiththeroleofmen, prevailovertendervalueslikethequalityoflife, maintainingwarmpersonalrelationships, service, carefortheweak,

andsolidarity, whichinnearlyallsocietiesaremoreassociatedwith

womensroles (Femininity).

-StrongorWeakUncertainty AvoidanceUncertaintyavoidancecanbedefinedasthedegreetowhichpeople

inacountrypreferstructuredoverunstructuredsituations.

-Long-termversus Short-termOrientation

Thedimensionoflong-termversusshort-termorientationisbasedontheChinese Value Survey (CVS).Onthelong-termsideonefindsvalues

orientedtowardsthefuture, likethrift (saving)andpersistence.Onthe

short-termsideonefindsvaluesratherorientedtowardsthepastand

present, likerespectfortraditionandfulfillingsocialobligations.


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Cultural Dimension Rankings: Triad

PD ID MA UA LT

Austria

Belgium

Denmark

Finland

FranceGermany

Greece

Ireland

Italy

Netherlands

Portugal

SpainSweden

UK

USA

Japan

Hong Kong

Taiwan

11/53

65/20

18/51

33/46

68/15-1635/42-44

60/27-28

28/49

50/34

38/40

63/24-25

57/3131/47-48

65/42-44

40/38

54/33

68/15-16

58/29-30

55/18

75/8

74/9

63/17

71/10-1167/15

35/30

70/12

76/7

80/4-5

69/13

51/2071/10-11

89/3

91/1

46/22-23

25/37

17/44

79/2

54/22

16/50

26/47

43/35-

3666/9-10

57/18-19

68/7-8

70/4-5

14/51

31/45

42/37-385/52

66/9-10

62/15

95/1

57/18-19

45/32-33

70/24-25

94/5-6

23/51

59/31-32

86/10-1565/29

112/1

35/47-48

75/23

53/35

104/2

86/10-1529/49-50

58/33

69/26

85/17

29/49-50

69/26

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31/11-12

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--/--

--/--

33/10

25/15-16

29/15-16

80/3

96/1

87/2


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Gannons Metaphors

Americanfootballs: Individualismandcompetitivespecialization;huddling;ceremonialcelebrationofperfection

The Britishhouse: Layingthefoundations;buildingthebrickhouse;livinginthe

brickhouse

TheGermansymphony:Orchestra;conductors;performance;society,

education, andpolitics

The Frenchwine: Purity;classification;composition;compatibility;maturation

The Italianfamilyopera: Pageantryandspectacle;voiceexpression;chorusand

soloists

The Swedishsummerhome: Loveofnature;individualismthroughself-

development;equality

The Japanesegarden: Waandshikata, harmonyandform;seishin, spiritofself-discipline;combiningdroplets

TheChinesefamilyaltar: Confucianismand Taoism;roundness, harmony, and

fluidity

India: cyclical Hinduphilosophy: Thecycleoflife;thefamilycycle;thesocial

cycle;theworkcycle


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Hai in Japanese

English Translation: Yes

What does Hai mean in Japanese?

Hai means the other person heard you

and is contemplating a reply.

Yes, when Hai is accompanied bysodesu (it is so) and soshimasu (I willdo so).

Is there a yes in Japanese that correspondsto the Western yes?


68/77

High and Low Context Cultures

Factors /Dimensions

HighContext

LowContext

Less important

Is his or her bond

Taken bytop level

Lengthy

JapanMiddle East

Lawyers

A persons word

Responsibility fororganizational error

Negotiations

Examples:

Very important

Get it in writing

Pushed tolowest level

Proceed quickly

U.S.A.Northern Europe


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Silent Languages

Space

MaterialPossessions

FriendshipPatterns

AgreementsacrossCultures

Time


70/77

John Wayne Style of Americans

I cangoitalone

Justcallme John

Pardonmy French

GettothePoint

Layyourcardsonthetable

Dontjustsitthere, speakup

Donttake noforananswer

onethingatatime

A dealisadeal

I amwhat I am


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72/77

The Self-Reference Criterion

and Perception Self-referencecriterion: theunconsciousreferenceto

onesownculturalvalues

Toeliminateorreduceculturalmyopia:

Definetheproblemorgoalintermsofhomecountrycultural

traits

Definetheproblemorgoalintermsofhost-coutrycultural

traits, habits, andnorms. Makenovaluejudgments.

Isolatethe SRCinfluenceandexamineitcarefullytoseehowit

complicatestheproblem

Redefinetheproblemwithoutthe SRCinfluenceandsolvefor

thehost-countrymarketsituation


73/77

Culture and Demand

Motivatorsand Behavior

Perceived Risks

Marketingand Materialism


74/77

Cultural Impacts on

International Marketing Foreign Entry

Managerial Issues

Product Decision

Price Decision

Distribution Decision

Promotion Decision


75/77

Cultural Diversity:How To Succeed in a World of Differences

1: Why People Fail

EthnocentricOrientationEthnocentricOrientation

IgnoranceIgnorance

ArroganceArrogance

Time FactorTime Factor


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Cultural Diversity:How To Succeed in a World of Differences

2: Success Factors GeocentricOrientationGeocentricOrientation

RespectRespect

LearningLearning

LanguageLanguage

Personal Attitude: HumilityandPridePersonal Attitude: HumilityandPride

PersonalQualities: Adaptabilityand FlexibilityPersonalQualities: Adaptabilityand Flexibility


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Cultural Diversity:

How To Succeed in a World of Differences

3: How To Be Successful

StudyandPreparationStudyandPreparation

AwarenessofCultural DifferencesAwarenessofCultural Differences

Commitment To LearnCommitment To Learn

Do TheWorkDo TheWork

embaintmkt012010

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