International Marketing Review

Topics: Gross domestic product, Marketing, Per capita income Pages: 11 (3047 words) Published: April 3, 2013
International Marketing Exam 2 Review
Chapter 6 Global Marketing Research and Data Sources
Marketing Decisions Intelligence Needed
1) Go international or remain a domestic marketer?| Assessment of global market versus domestic marker (demand & competition) and internal assessment of company readiness to go international?| 2) Which markets to enter?| Assessment of individual market potential (demand, local competition, political environment)| 3) How to enter target markets?| Market size, trade, barriers, transportation costs, requirements and standards, and political environment| 4) How to market in target markets? | Buyer behavior, competitive practices, distribution channels, promotional media, market experience, and company expertise |

The Firm’s Corporate Environment| The Marketing Environment| The Competition | The Product| Marketing Mix| Firm- Specific Historical Data | Internal strengths to expand internationally | Political context: leaders, national goals, ideology, and key industries | Relative market shares| Industrial and consumer buyer characteristics | Channels of distributions: evolution and performance | Sales trends by: * Product and product line * Sales force * Customer | Internal weaknesses regarding international expansion| Economic growth prospects and business cycle stage | New products introductions | Size, age, sex, and segment growth rates | Relative pricing, elasticities, and pricing tactics | Trends by country and region| Level of current international expertise| Per capita income levels and purchasing power | Image and brand recognition | Purchasing power and intentions | Advertising and promotion: choices and impacts on customers | Contribution margin | Management commitment to internationalize | End-user industry growth trends| Quality: its attributes and positioning relative to that of its competitors | Customer responses to new products, price, and promotion Switching behavior | Service quality, perceptions, and relative positioning | Innovation, experience, and results | Employee commitment to internationalize | Government: legislation, regulation, standards, and barriers to trade | Competitors’ strengths and favorite marketing strategies | Role of credit and purchasing Future needsImpact of cultural differences | Logistics, networks, configuration, and changeMarketing mix and marketing response across countries and regions | Customer retention |

1. Competitive Landscape
a. Most companies seek to understand competitive landscape prior to entering that market i. On a country level, sources such as the World Economic Forum’s Global Competitiveness Report can give insight into overall competitive intensity of a country b. First step is to research as many companies as possible and then research their companies via traditional data sources ii. Sources such as Kompass and OneSource, Factive (news source), company website (to conform product/service offerings) c. Every country has a way of classifying products

iii. The US for example uses the North American Industry Classification System (NAICS) iv. European Union (EU) classifies data using (CPA) Classification of Products by Activity d. Government export agencies address these deficiencies by conducting their own research v. Examples are Country Commercial Guides produced by the US Commercial Service and the Market Analysis Tools produces by the Geneva e. Geneva is a joint agency of the World Trade Organization and the United Nations f. Private companies also provide extensive industry information that is specific to individual countries and comparative across markets vi. Examples include Euro-monitor International which has a variety of consumer, industrial, and market reports 2. Consumer Behavior

g. A firm must understand users of its...
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