HEY, I have one assignment for the subject International Marketing, where I have chosen a product /brand named as Goodman Fielder from Australia i.e home country manufacturing olive oil and exporting
Unit 1, the aim of this unit to focus on marketing theory, International trade and international marketing management.
The Review of the nature of the international market place, marketing activities and management in foreign markets from Asia-Pacific perspective.
Small and medium enterprises (SME’s) perspective
Learning Objectives
Understanding of the dynamic international trading environment
Marketing strategy available, Relevant available sources of information, selection and justification of appropriate marketing mix.
The NEW INTERNATIONAL MARKETING ENVIRONMENT
WHAT HAS BEEN DRIVING THE CHANGE?
Communication Revolution -access to international data, impact of technology on consumer and firms.
DYNAMIC INTERNATIONAL TRADE SYSTEM
WTO, EMPHASIS ON BILATERAL TRADE AGREEMENTS, INFLUENCE OF TRADING BLOCS SUCH AS ASEAN, FOCUS ON STAKEHOLDERS AS WELL AS SHAREHOLDERS
-Driving forces in International Marketing: Market needs, Technology, costs, governments and communication
Restraining forces: Differences between national markets, controls over entry and access to markets, actual and perceived risks involved
Risks in International Marketing
Change in marketing management orientation
Ethnocentric Orientation= seeing similarities in the market
Polycentric Orientation=Decentralizing marketing
Regio centric orientation focuses on group of countries with similar characteristics
Geocentric Orientation= views the entire world as a potential market
Theory of Comparative Advantage: the theory of comparative advantage says that countries should focus on what they do well rather than try to produce everything.
The capacity to produce a good at a lower opportunity cost than competition. By specilising in the production of the good in which the country has lower comparative disadvantage, and promoting other goods, the total goods available will increase.
International marketing concepts: PLC Extension
Different economies at different stages will provide new growth markets for mature products.
Product trade cycle refers to the life cycle of the market and assumes that a product will originate in advanced country.
2- International political and legal Environments: political and legal risks are a major factor in deciding whether to enter an international market. Government influence includes local, regional, and state government bodies as well as national government.
Chapter 3 Economic and Financial Environments
Globalisation, Pace of Globalisation, Global Competitors, Free Trade Agreements,
COUNTRY CLASSIFICATIONS: MARKET DEVELOPMENT STAGES
CLASSIFICATION ON PER CAPITA GROSS NATIONAL INCOME (GNI)
1 HIGH INCOME COUNTRIES: POST INDUSTRIES ECONOMIES, GROSS NATIONAL INCOME MORE THAN 12746$, EXAMPLE USA, JAPAN, SINGAPORE, AUSTRALIA
2 UPPER MIDDLE INCOME COUNTRIES : Industrializing Countries, GNI more than $4126 but less than $12746 example Jordan, Mongolia
Country Classification: Market Development Stages
Lower middle-income countries, Low Income Countries,
Country classification: Nature of the Economy
Old economies, New economies, Transition economies
Multinational Trade: WTO IS THE MAJOR FORCE
Regional trading groups, ASEAN free trade area, Bilateral free trade agreements,
ADVANTAGES OF BEING IN A REGIONAL TRADE GROUP
EPANSION, PRODUCTION, RATIONALISATION OF EXISTING OPERATIONS, STANDARDISATION
BARRIES TO ENTERING IN INTERNATIONAL MARKET
PROTECTIONIST BARRIERS, STRUCTURAL BARRIERS, STRATEGIC BARRIERS:- Tarrifs, Non-tarrifs,
Measuring market income, Purchasing power parity, measuring market such as population, physical quality life, infra,
Measuring Markets: Geography, DEBT, resources , Foreign exchange, International financial system
INTERNATIONAL SOCIAL AND CULTURAL ENVIRONMENT
Globalisation, culture, elements of culture, expressions of culture
Researching International Markets
