International Marketing

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MSC INTERNATIONAL BUSINESS INTERNATIONAL MARKETING DAY THREE & FOUR

Outline

Marketing mix

Product and pricing decisions

SWOT Analysis

Marketing Communication strategy

Which Market to Choose

Reasons to enter international Markets

Marketing Mix
Price Product Place Promotion Physical Evidence Process People

Price Price is the amount the consumer must exchange to receive the offering. Solomon et al (2009).

Product Product means the goods-and-services combination the company offers to the target market. Kotler and Armstrong (2010).

Place Place includes company activities that make the product available to target consumers. Kotler and Armstrong (2010).

Promotion Promotion includes all of the activities marketers undertake to inform consumers about their products and to encourage potential customers to buy these products. Solomon et al (2009).

Physical Evidence Physical evidence is the environment in which the service is delivered, and where the firm and customer interact, and any tangible components that facilitate performance or communication of the service. Zeithaml et al (2008)

Process
Process is the actual procedures, mechanisms, and flow of activities by which the service is delivered – this service delivery and operating systems. Zeithaml et al (2008). People People are all human actors who play a part in service delivery and thus influence the buyers' perceptions; namely, the firm's personnel, the customer, and other customers in the service environment. Zeithaml et al (2008).

Marketing Mix

Choose an SME of your choice and apply the marketing mix (7P’s).

Steps in formulating marketing communication strategy

Step
 1
  Step
 2
  Step
 3
  Step
 4
  Step
 5
 

•  Assessing
 Marke1ng
 Communica1ons
 Opportuni1es
 

•  Analyse
 Marke1ng
 Communica1ons
 Resources
 

•  Set
 Marke1ng
 Comunica1ons
 Objec1ves
 

•  Develop/Evaluate
 alterna1ve
 strategies
 

•  Assign
 specific
 Marke1ng
 communica1ons
 tasks
 

Czinkota & Ronkainen (2010),p 382

SWOT Analysis

• Strengths • Your
 specialist
  marke1ng
 exper1se.
  • A
 new,
 innova1ve
  product
 or
 service.
 
  • Loca1on
 of
 your
  business.
 
 

• Weaknesses
• Lack
 of
 marke1ng
  exper1se.
  • Undifferen1ated
  products
 or
 services
  (i.e.
 in
 rela1on
 to
 your
  compe1tors).
 
  • Poor
 quality
 goods
 or
  services.
 
 

Internal

Internal

• Opportunities External • A
 developing
 market
  such
 as
 the
 Internet.
  • Mergers,
 joint
 ventures
  or
 strategic
 alliances.
 
  • Moving
 into
 new
 market
  segments
 that
 offer
  improved
 profits.
 
  • A
 new
 interna1onal
  market.
 
 

Externa l

• 

Threats

• A
 new
 compe1tor
 in
  your
 home
 market.
  • Price
 wars
 with
  compe1tors.
 
  • A
 compe1tor
 has
 a
  new,
 innova1ve
  product
 or
 service.
 
 

How does the SWOT analysis apply to the Apple company? In group of 3-4 apply the SWOT analysis to Apple.

International Pricing

Pricing Objective

Competition

Price escalation

Pricing controls

Target customer

Reasons to enter international markets

Why do firms need to enter international

markets?

Which Markets to choose?

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