IMS marketing strategy international marketing strategy and planning.ppt

WelcometoInternationalMarketingStrategy expectationsformatSESSION1naturecountrymanager attractandretaincustomersata profit implies centralroleinorganisationalperformanceselectivepursuitofcustomersrelationshipbuilding customerretentionmonitor understand outperformcompetitors Reminder purposeofmarketing Theconceptof strategy thedirectionandscopeofanorganisationoverthelong er term whichideallymatchesitsresourcestoitschangingenvironmentand inparticularitsmarkets customersorclientssoastomeetstakeholderexpectations Johnsonetal2005 Purposeofstrategy tosetthefuturedirectionfortheorganisation tostatehowitistocreatevaluetocustomers toidentifywhatproduct sandinwhichmarketsthefirmwillinvestitsresources todescribehowitistoperformbetterthancompetition Johanson2009 Walkeretal2008 Westetal2006 Strategyhelpsin definingthescopeofbusiness finding strategicfit betweenorganisationanditsenvironment identifyingasustainablecompetitiveadvantage SCA guidingtheallocationofresources Johanson2009 Walkeretal2008 Westetal2006 3levelsofstrategy CorporateTheoverallgoalsofthebusiness oftenexpressedinfinancialtermsCompetitive Business SBU Howtocompeteinindividualproduct marketsandsupportcorporatestrategyFunctionalFunctionalstrategiesfororganisation sfunctionalareasinsupportofSBUsandcorporatestrategies Johanson2009 Walkeretal2008 Westetal2006 Theinter relationshipbetweenmarketingandcorporatestrategy INFORMSDIRECTSGUIDESCONTROLSACHIEVESSUPPORTSOPERATIONALISE MarketingStrategyIdentifyingproductmarket stocompeteinSelectingmarketsegmentstotargetDevelopingthemarketingmix Westetal2006 Strategyprocessor decidingonstrategycontent Strategicplanning processwhichdefineslong termobjectives meansbywhichthesewillbeachievedresultsindecisionsonstrategycontent Marketingplanningatthebusinesslevel businessmission marketingaudit SWOTanalysis marketingobjectives strategicthrust strategicobjectives Re definition Planningattheproductlevel corestrategy marketingmixdecisions organizationandimplementation control targetmarkets competitiveadvantage competitortargets Marketingaudit EXTERNALmacro environmentmicro environmentINTERNALoperatingresultsstrategicissuesanalysismarketingmixeffectivenessmarketingstructuresmarketingsystems Westetal2006 Sowhat sthisgottodowithinternationalmarketingstrategy Sameprinciple i e customerattraction retentionbutwhatlevel InternationalMarketingStrategy Identifyingproductmarket stocompeteinSelectingmarketsegmentstotargetDevelopingthemarketingmix globalregionalmultidomestic Closelylinkedtobusiness corporatestrategy MultidomesticGlobalmarketsmarkets marketboundariescustomerscompetitioninter dependencestrategies marketsdefinedwithincountries localcustomersNomeritincoordinatingactivitiesacrossmarkets marketstranscendcountryborders customers competitorscrossfrontiersmajorsimilaritiesbetweencustomersfromdifferentcountries segmentscrossgeographicfrontiersfewcompetitorsbutpresentinallmajormarkets regional globalrivalrylocalmarketsoperateinterdependently competitormovesinonemarketimpactothersregionalorglobalstrategies advantageincoordinatingactivitiesregionally worldwide Kashani1992 Companiescompetingorseekingtocompeteinternationally howinternationalisitnow howinternationalcanitbe howinternationaldoesitwanttobe analysisstrategyinvestment toclosethegap MARKETENTRYLOCALMARKETGLOBALEXPANSIONMARKETING country marketscreening targetmarket segments chartingdirection timing sequencingofproductmarketstructureallocationorresourcesmarketentry productpositioning infrastructuretocompetitiveconsiderationsstrategiessupportglobalstrategy entrymodes factors marketingmixaffectingchoice goals objectivese g degreeofrisk levelofinvolvementbusinessactivitiese g customersegments involvementinvaluechainactivities corecompetenciesbasisofcompetitiveadvantage focusofcompetitivestrategy Internationalmarketingstrategies Internationalmarketingstrategy involvessamebasicsteps Identifyingtargetcustomers meetingneedsofthosecustomers recognisingconstraintsofgovernmentpolicies economic internationalenvironmentculturalforces marketinginfrastructuredifferences economicconstraintsfindinginternationalcustomersinternationalresearch segmentanalysisidentificationofsimilarities differencessatisfyinginternationalcustomersdevelopingmarketingmixtomeetcustomerneedsacrosscountries regionsbeingbetterthancompetitionassessing monitoring respondingtointernationalcompetitionco ordinationofmarketingactivitiesco ordinating integrating implementingstrategiesacrosscountries regions Johnson G Scholes K Whittington R 2005 Introducingstrategy ch 1inExploringCorporateStrategy 7thed PrenticeHall Clarke G Wilson I 2009 Internationalmarketingplanning ch 4inInternationalMarketing McGraw Hill pp 93 130 Johansson