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| characterized by private enterprises that established purposeful and ongoing foreign activities at a rate that is fast for their industry. Eg: The wiggles, hit in several countries, right from the get go |
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| the integration and leverage of an orgs worldwide strategy and approach to strengthen its overall competitive advantage. |
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| org manages its int’l activities as a portfolio, subsidiaries control important activities, large degree of autonomy. Polycentric orientation (individual subsidiaries operate independently of one another) |
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| integrates the activities of an org worldwide to capture the links among countries, treats world as a single, borderless market, not separate individual markets. (geocentric orientation) |
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| an industry in which an orgs competitive position in one country is affected by its position in other countries… series of interlinked domestic industries, rivals compete worldwide |
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| global consumers require global strategy – revamp distribution and global promo strategies to fit the common customer needs |
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| benefits from economies of scale & scope may drive industry towards globalization |
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| barriers to trade and investment falling worldwide, free trade agreements, etc. |
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| presence of global competitors, rate of product diffusion, beginning of multinational companies |
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| ability of a firm to implement strategies that appears to be contradictory, simultaneously (ie: having lower cost and higher quality) |
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| ability of a firm to understand customers’ expressed and latent needs and to respond to this information strategically. – critical to develop global marketing strategy |
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| Global marketing strategy goal |
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Definition
| how to achieve global integration with local responsiveness. Do this by adapting marketing mix. |
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| savings in workforce and materials through integration, standardized packaging/promo materials/ads, reduction inventory |
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| org aims to achieve market share by lowering its cost structures so that it can compete primarily on basis of price. Economies of scale & can raise barriers to entry because new entrants cannot compete with your low prices |
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| org attempts to achieve market share by concentrating on the development of some unique dimension to its market offer that is valued by buyers. Value that customers will pay premium for. |
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| an org aims to achieve market share by focusing its efforts on serving a narrow range of market segments well. |
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| cross subsidization of market share battles in pursuit of regional production, branding and distribution advantages. |
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| Cross subsidization of markets |
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| strategy that involves using profits gained in a market where an org has a strong competitive position to support its competitive position in a market where it has a low market share or profit position. |
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Definition
| market that through its size or significance leads to the development of goods and services that become the accepted norm in markets elsewhere in the world |
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