International Marketing - highly recommended marketing background tutors

• Keegan, W .J.,& Green, M .(2017 ).Global marketing (9th Eds .).Upper Saddle River, NJ : Prentice -Hall . Additional references : • Cateora , P., Graham J. and Gilly, M. (2017). International Marketing . 17th edition, McGraw -Hill/Irwin. • Czinkota , M. and Ronkainen , I. (2014) . International Marketing. 10 th edition, South - Western College Pub. Journals : • Journal of International Marketing • International Marketing Review • Journal of International Business Studies • Journal of Marketing • Journal of Management Studies References MKT3064 International Marketing MKT3064 Assessments Assessment Type Description Percentage Date Individual Case Analysis Written Assignment 20 31 st May 2021 Group Corporate Case Report (20%) Corporate Case Presentation (10%) 30 23 rd June & 30 th June 2021 Final Examination The final examination is 2 hours + 10 minutes in duration. 50 July TOTAL 100 MKT3064 International Marketing Individual Case Analysis Written Assignment (20%) Read the case article ‘The Future of Music : Where It Is Today and Where It’s Going in The Next Decade’ and answer the given questions . You need to utilize key international marketing concepts and theories to analyze and critically discuss the given case scenario . • Assignment 1: Individual Written Case Assignment Analysis – Grading Rubric for both Question 1 and 2.[pp .5-6] Note :Details in Coursework Guide in Elearn MKT3064 International Marketing Group Corporate Case Report & Presentation (30%) Conduct a secondary data analysis based on based on a company that is ideally listed on the Malaysian Stock Exchange (Bursa Malaysia) or any other internationally listed stock exchange .Identify, investigate and critically analyse how a firm has successfully carried out their international marketing activities in a foreign country . Note :Details in Coursework Guide in Elearn MKT3064 International Marketing The Scope and Challenge of International Marketing • Global Marketing: What is it and what it isn’t? • The importance of global Marketing • Management Orientations • Forces Affecting Global Integration and Global Marketing Lecture: Week 1 MKT3064 International Marketing Marketing and Global Marketing Defined • Marketing: “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have VALUE for customers, clients, partners, and society at large” • Global Marketing: The scope of activities outside the home market MKT3064 International Marketing Ansoff Matrix • Market Penetration is defined as getting the existing customers to buy more of existing products . Starbucks is building on its loyalty card and rewards program in the United States with a smartphone app that enables customers to pay for purchases electronically . • Market Development is defined as taking existing products into new markets, for instance Starbucks ’sexpansion into India via an alliance with the Tata Group . SB will source coffee beans in India and sell worldwide then open cafes in Tata’s upscale Taj hotels in India . • Product development is developing new products and placing them in existing markets . Starbucks created a brand of instant coffee, Via, to enable its customers to enjoy coffee at the office and other locations where brewed coffee is not available . After a successful launch in the US, Starbucks rolled out Via in Great Britain, Japan, South Korea and several other Asian countries . • Diversification is developing new products for new markets . Starbucks has launched several new ventures, CDs and movie production . Next : Revamping stores so they can serve as wine bars and attract new customers in the evening . MKT3064 International Marketing Value Chain and Value Proposition • Value Chain Marketing, along with all other functional business areas, create value for the customer • Value Proposition – Perceived value to the customer – The firm’s promise to the customer MKT3064 International Marketing Nestle Value Chain Source: https://stratmatters.wordpress.com/tag/nestle/ MKT3064 International Marketing Nestle Value Proposition Source: https://stratmatters.wordpress.com/tag/nestle/ MKT3064 International Marketing Quiz 1 Pls click on the link below and answer the questions:

• https://forms.office.com/Pages/ResponsePage.aspx?id=6wgQBUDbSUKezp3z 6MP1lK_wGBdd4j5HjFi0nHkGJSFUM1VBM0lFOVBXTlhOWTFQMUZTMUVYVjZ WTi4u MKT3064 International Marketing Customer Perceived Value • Create value for customers by improving benefits or reducing price – Improve the product – Find new distribution channels – Create better communications – Cut monetary and non -monetary costs and prices Value=Benefits/Price MKT3064 International Marketing Customer Perceived Value • Companies that use price as a competitive weapon may use global sourcing to access cheap raw materials or low -wage labor . Companies can seek to improve process efficiencies or gain economies of scale with high production volumes . • • Marketers may be able to reduce non -monetary costs by decreasing the time and effort customers expend to learn about or seek out the product . • • A market is defined as people and organizations that are both able and willing to buy . A successful product or brand must be of acceptable quality and consistent with buyer behavior, expectations, and preferences . If a company is able to offer a combination of superior product, distribution or promotion benefits, and lower price than competitors, it should enjoy a competitive advantage . Japanese auto makers made significant gains in the American market in the 1980 s by creating a superior value proposition .They offered cars with higher quality and lower prices than those made by American car companies . MKT3064 International Marketing Video 1 • What is globalization? • https://www.youtube.com/watch?v=xPD477FuqtY • Jeffrey Sachs – Future of Globalisation (Columbia University) • https://www.youtube.com/watch?v=8beOXxJeaec MKT3064 International Marketing Global Industries • An industry is global to the extent that a company ’ s industry position in one country is interdependent with its industry position in another country Ratio of cross - border investment to total capital investment Proportion of industry revenue generated by all companies that compete in key world regions Ratio of cross - border trade to worldwide production MKT3064 International Marketing Global Industries Source: https://www.kalinax.com/pepsi -coca -cola.html MKT3064 International Marketing Competitive Advantage, Globalization & Global Industries Concentration and attention on core business and competence “Nestle is focused: We are food and beverages. We are not running bicycle shops. Even in food we are not in all fields.

There are certain areas we do not touch…We have no soft drinks because I have said we will either buy Coca -Cola or we leave it alone. This is focus. ” ~ Helmut Maucher , former chairman of Nestlé SA ~ MKT3064 International Marketing Competitive Advantage, Globalization & Global Industries When a company succeeds in creating more value for customers than its competitors, that company is said to enjoy competitive advantage . CA is measured relative to rivals in an industry . A local laundromat is in a local industry and competes locally . A national company competes within its country’s borders . Global industries compete globally — consumer electronics, apparel, automobiles, steel, pharmaceuticals, furniture, etc . In recent years, Bertelsmann, Colgate, Danone, Electrolux, Fiat, Ford, Fortune Brands, General Motors, Harley -Davidson, Henkel, LEGO, McDonald’s, Royal Philips Electronics, Toshiba, and many other companies have stepped up efforts to sharpen their strategic focus on core businesses and brands . MKT3064 International Marketing Quiz 2 Pls click on the link below and answer the questions:

• https ://forms.office.com/Pages/ResponsePage.aspx?id=6wgQBUDbSUKezp3z 6MP1lK_ wGBdd4j5HjFi0nHkGJSFUN1ExVENHTldHNkFVTFZPRVMwV0M0T URRSC4u MKT3064 International Marketing Single Country Marketing vs Global Marketing Single Country Marketing Strategy • Target Market Strategy • Marketing Mix – Product – Price – Promotion – Place Global Marketing Strategy • Global Market Participation • Marketing Mix Development – 4 P ’s: Adapt or Standardize? • Concentration of Marketing Activities • Coordination of Marketing Activities • Integration of Competitive Moves MKT3064 International Marketing GLOBAL MARKETING: What It Is & What It Isn’t Since countries and people are different, marketing practices that work in one country will not necessarily work in another . Customer preferences, competitors, channels of distribution, and communication may differ . Global marketers must realize the extent to which plans and programs may be extended or need adaptation . The way a company addresses this task is a reflection of its global marketing strategy (GMS) . Standardization versus adaptation is the extent to which each marketing mix element can be executed in the same or different ways in various country markets . Concentration of marketing activities is the extent to which marketing mix activities are performed in one or a few country locations . Coordination of marketing activities refers to the extent to which marketing mix activities are planned and executed interdependently around the globe . Integration of competitive moves is the extent to which a firm ’ s competitive marketing tactics are interdependent in different parts of the world . MKT3064 International Marketing The Beatles: Global Marketing Strategy • U.K. vs. U.S. Markets – EMI U.K label Parlophone – EMI U.S. label Capitol • U.K albums had different names , number and order of tracks • U.S. singles had Side B songs not available in the U.K. • Songs remixed for U.S.

market with different studio effects (reverb and compression) The British Invasion of the music world was led by the Beatles who first toured the U .S .in 1964 . MKT3064 International Marketing Kpop : Global success didn’t happen by accident • Strategic talent management • Customer relationships built via social media • Localized product offerings https://hbr.org/2016/11/k -pops -global -success - didnt -happen -by -accident MKT3064 International Marketing Video 2 Kpop Global Success https://www.youtube.com/watch?v=ClMrDme20AA MKT3064 International Marketing Standardization Vs. Adaptation • Globalization (Standardization) – Developing standardized products marketed worldwide with a standardized marketing mix – Essence of mass marketing • Global localization (Adaptation) – Mixing standardization and customization in a way that minimizes costs while maximizing satisfaction – Essence of segmentation – Think globally, act locally MKT3064 International Marketing Standardization Vs. Adaptation • Global marketing may include a combination of standard (e .g., the actual product itself) and nonstandard (e .g.,distribution or packaging) approaches . • Many companies are learning that it is equally important to think locally and act globally .In practice, this means that companies are discovering the value of leveraging innovations that occur far from headquarters and transporting them back home . For example, McDonald’s restaurants in France don’t look like McDonald’s restaurants elsewhere . Décor colors are muted, and the golden arches are displayed more subtly . After seeing the sales increases posted in France, some American franchisees began undertaking similar renovations . MKT3064 International Marketing Standardization Vs. Adaptation The Faces of Coca -Cola Around the World Arabic Read right to left Chinese “delicious/happiness ” The design is basically the same but the name is frequently transliterated into local languages. The Arabic label is read right to left; the Chinese label translates “delicious/happiness.” MKT3064 International Marketing Standardization Vs. Adaptation MKT3064 International Marketing Quiz 3 Pls click on the link below and answer the questions:

• https ://forms.office.com/Pages/ResponsePage.aspx?id=6wgQBUDbSUKezp3z 6MP1lK_ wGBdd4j5HjFi0nHkGJSFUMkU5TzNIRVhCSEkxU0JSM1ZUS01RSld YMy4u MKT3064 International Marketing Burberry’s Global Marketing Strategy Marketing Mix Product: emphasize handbags, belts, accessories Price: Affordable luxury Place: Key major cities including Hong Kong, NYC Promotion: New logo, use social media, Burberry Acoustic for emerging musicians https://www.luxurysociety.com/en/articles/2020/08/burberrys -strategic -shift -redefine -brand -values Burberry reverted to its brand core values of transparency and ethics when hit by Covid 19 last year .Despite 50 % drop in retail sales, its ecommerce grew by 22 % . • Burberry opted out of the United Kingdom government’s furlough programme and instead kept employees on full time, and cut directors’ salaries by 20 percent • Used its West Yorkshire factory to produce personal protective equipment to help healthcare facilities in the area • Enhancement of customer experience with first social retail store in China MKT3064 International Marketing The Importance of Going Global • For U.S. companies, 75% of total world market for goods and services is outside the country • For Japanese companies, 90% of world market is outside the country • 94% of market potential is outside of Germany for its companies even though it is the largest EU market Industries that were essentially national in scope only a few years ago are dominated today by a handful of global companies .In most industries, the companies that will survive and prosper in the twenty -first century will be global enterprises .Some companies that fail to formulate adequate responses to the challenges and opportunities of globalization will be absorbed by more dynamic, visionary enterprises . Others will undergo transformations and, if their efforts succeed, will emerge from the process greatly transformed .Some companies will simply disappear . MKT3064 International Marketing How Big Is The Global Market? MKT3064 International Marketing Quick Discussion: Why doesn’t localizing marketing doesn’t work always https://hbr.org/2016/09/why -localizing -marketing -doesnt -always -work A localization strategy is about adapting a product or content to a specific location or market . It’s sometimes called an adaptation strategy . The goal is to adapt a product to look like it was specifically created for a target market or location . Then there are several elements of the localization process when it comes to creating your marketing materials .You may need to : • Change the verbiage to match the language of that particular location, which may involve adjusting the design and layout of the marketing materials, too . • Modify any graphics to appeal to the local target market . • Adjust the content to match the buying habits of different markets . • Convert currencies or units of measure, if necessary . • Use the proper local formats for dates, addresses, phone numbers, etc . • Adhere to local regulations and legalities, if applicable . MKT3064 International Marketing Quiz 4 Pls click on the link below and answer the questions:

• https ://forms.office.com/Pages/ResponsePage.aspx?id=6wgQBUDbSUKezp3z 6MP1lK_ wGBdd4j5HjFi0nHkGJSFUQkxPWFNEWldCMEhENEhJWERDU05W TzdBMy4u MKT3064 International Marketing Global Integration • Global integration is the state in which one national market (including a firm's home market) is significantly affected by other national markets . • Because of global integration, international marketers cannot continue to successfully employ multiple single‐market strategies but instead must adopt global strategies that address multiple, if not all, national markets at the same time . • Examples of such global strategies include global rollouts of new products, centralized production of standardized products, and global‐theme advertising . In the last quarter of the twentieth century, several forces, some interrelated, resulted in greater global integration . • These forces have been categorized in different ways but generally fall into five categories : technological , buyer behavior , competitive, cost , and regulatory . Each industry is affected differently by the forces of global integration, but virtually all industries are affected in some way by these forces . https://onlinelibrary.wiley.com/doi/abs/10.1002/9781444316568.wiem06031#:~:text=These%20forc es%20have%20been%20categorized,some%20way%20by%20these%20forces MKT3064 International Marketing Forces Affecting Global Integration & Global Marketing MKT3064 International Marketing Driving forces Affecting Global Integration & Global Marketing • Regional agreements :NAFTA, EU expansion and single currency .WTO (1994 ) • Market needs and wants and IT : There are cultural universals as well as differences .Common elements in human nature provide the opportunity to create and serve global markets, i.e.soft drinks . Companies must recognize that product adaptation is not always necessary and that competitors may be serving global customers .The information revolution which Thomas Friedman calls the democratization of information is one reason for the trend to convergence . CNN and MTV allow people in remote areas to compare their lifestyles to others . Advertising overlapping national boundaries like in Asia or Europe and the mobility of consumers in these markets has allowed for pan -regional positioning . The Internet is perhaps the strongest force that allows people everywhere to buy and sell . • Transportation and communication : Jets allow around the world travel in less than 48 hours . 1970 :75 million international passengers .2011 :980 million .Airlines sell each other ’s seats thanks to modern technology . International phone calls are inexpensive and there are many other ways to communicate like fax, e-mail, video conferencing, Wi -Fi and broadband internet . Transportation costs have fallen .Due to specially designed ships, the cost of shipping autos from Japan to the U.S. is less than the cost to ship from Detroit to either U.S.coast .Intermodal transportation uses 20 to 40 foot containers that may be transferred from trucks to railroad cars to ships . • Product Development Costs : New pharmaceutical cost in 1976 = $76 million ;today = $400 million and up to 14 years to get a drug approved . Pharmaceutical companies go global to spread the costs .However, only seven countries account for 75 % of sales . MKT3064 International Marketing Driving forces Affecting Global Integration & Global Marketing • Quality – R&D as a percent of sales • World economic trends – 2008 global crisis – Growing middle class in China, India, Brazil, etc. – Rapid growth in China pre -2008 – Movement to free markets worldwide MKT3064 International Marketing Driving forces Affecting Global Integration & Global Marketing Quality : Global and domestic companies may each spend 5% of sales on R&D but the global company has much more revenue from its markets . Global companies “raise the bar ” for all industry competitors . Nissan, Matsushita, and Caterpillar have achieved world -class quality . World Economic Trends : Economic growth in key developing countries = major market opportunities . Slowing growth in developed countries has compelled managers to look abroad . The middle class is growing in BRIC countries . Rapid economic growth, in a country such as China, has caused policymakers to open markets to outsiders . Competition can strengthen domestic companies . Domestic companies seek more governmental protection if markets are not growing . Worldwide movement to free markets, deregulation, and privatization is another driving force . As independent private managers take over running businesses (steel, railroads, telephones, airlines, utilities, restaurants, nightclubs) from governments, they are are likely to seek the best deals, regardless of the nationality of the supplier . MKT3064 International Marketing Driving forces Affecting Global Integration & Global Marketing Leverage : A company enjoys some type of advantage by virtue of the fact that it has experience in more than one country . Experience transfers mean that a company can leverage its experience in any part of the world . It can use management practices, strategies, products, advertising appeals, or sales or promotional ideas that have been test -marketed in one country or region and apply them in comparable markets . Since Chevron has drilled for oil under all conditions and recorded them, managers with a problem know how it has been handled in the past . Scale economies can be gained in manufacturing and by centralizing functional activities . Resource utilization means that global companies can scan the entire world to identify people, money and raw material that will enable it to compete most effectively in world markets . Rising and falling “home country ” currency is not an issue as the world is full of currencies and a global company seeks financial resources on the best available terms . It uses them where there is the best opportunity to serve a need at a profit . Global strategy is a design to create a winning offering on a global scale . A global strategy is built on an information system that scans the world business environment to identify opportunities, trends, threats, and resources . When opportunities are identified, the global company leverages its skills and focuses its resources to create superior value for customers and achieve competitive advantage . MKT3064 International Marketing Quiz 5 Pls click on the link below and answer the questions:

• https ://forms.office.com/Pages/ResponsePage.aspx?id=6wgQBUDbSUKezp3z 6MP1lK_ wGBdd4j5HjFi0nHkGJSFUQTZSVjc3VVRWTzRYVlJKSVNBVVpOSk 1ZTy4u MKT3064 International Marketing Restraining Forces Affecting Global Integration and Global Marketing Management Myopia and Organizational Culture: Ethnocentric companies will not expand geographically. Managers tend to dictate when they should create strong local teams that they can rely upon for market information. Know -it-all local teams won ’t listen to management and all -knowing managers won ’t listen to local experts. Successful global companies have learned to integrate global vision and perspective with local market initiative and input.

National controls: Every country tries to protect its home industries and services through tariff and non -tariff controls. Thanks to organizations like GATT, WTO, NAFTA, EU, and other economic agreements, tariffs have been largely removed in high -income countries. Non -tariff barriers to trade include “Buy Local ” campaigns, food safety rules and other bureaucratic obstacles. MKT3064 International Marketing Restraining Forces Affecting Global Integration and Global Marketing Opposition to Globalization : Globophobia is the term used to describe an attitude of hostility toward trade agreements, global brands, or company policies that appear to result in hardship for some individuals or countries while benefiting others . Opponents to globalization include college or university students, NGOs and labor unions . Some Americans believe that globalization has sent American jobs — both blue -and white -collar — overseas and also depressed wages at home . In developing countries, many believe that free trade agreements benefit the world ’ s most advanced countries . An unemployed miner in Bolivia said, “Globalization is just another name for submission and domination . We ’ve had to live with that here for 500 years and now we want to be our own masters .” MKT3064 International Marketing Next in Lecture 2 The Global Economic Environments Key points •Economic systems •Stages of market development •Balance of Payments