Global Marketing Notes
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• Lecture 10: Global Marketing
o Recap of Lecture and Class Slides
• Ansoff’s matrix: Product Growth and Market Growth dimensions
• Hofstede’s 5 Cultural Dimensions:
o Power Distance Index – hierarchy accepted by lower units
o Individualism – as opposed to collectivism
o Masculinity – gap between male and female values
o Uncertainty Avoidance Index – acceptance of uncertainty, ability to take risk
o Long Term Orientation – respect for thrift and perseverance
• Waterfall Approach: move gradually from home to global markets
• Shower Approach: approach all markets simultaneously
• Developed markets provide higher profits due to customer retention; Developing
markets provide higher profits due to customer acquisition
• Can marketing be standardised?
o Standardisation versus Adaptation approaches
o Should standardise when:
Product not culture-specific
Competition abroad weak
Management lacks global experience
o Usunier and Lee (Intercultural Marketing Strategy)
• Globalisation of an industry depends on:
o Influence of national regulations and trade barriers
o Existence of possible experience effects (reducing costs by increasing quantity)
Learning by doing, scale effects, technological advances, economies of scope
o Differing degrees of international transportability
o Degree to which the offering is culture-bound
• Perspectives on globalisation
o Ethnocentric: international operations are second to home operations
o Geocentric: all markets are the same
o Regiocentric: regional marketing strategies are needed for success
o Polycentric: each country is diff. and accepted as an ethnocentric node
• Why globalise?
o Global markets work as a set of coherent opportunities because each market is at a
different stage in the PLC
o Global markets are full of learning opportunities (e.g. experience effects)
o Global markets offer partnerships with local consumers, suppliers etc.
• Globalisation of international marketing:
o Standardization – Adaptation of market offerings:
Companies believe that standardization will yield higher profits and often
combine this with an ethnocentric perspective
o Geographical concentration-dispersion of structure
How centralized/ decentralized organisational structure is w.r.t. foreign
o Financial integration/ independence
Are subunits individual profit centres or are they subsidised?
o Lee and Carter (Product and Brand Management)
• Standardisation may be the best approach for an initial entry by small-medium firms
• However, later the need for local customization increases
• Product Trade Cycle
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