International And Global Marketing PdfBy Medea V. In and pdf 02.05.2021 at 09:54 4 min read
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- framework of international marketing pdf
- Global Marketing: Contemporary Theory, Practice and Cases
- International Marketing Strategies For Global Competitiveness
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framework of international marketing pdf
Metrics details. There is need for Kenyan small and medium enterprises SMEs in particular to focus concern on the orientation of business strategy toward global market strategy, market research geared at obtaining foreign market intelligence, innovation and technology, product adaptation, service orientation, collaborative ventures, and long-range vision as critical factors in making them successful in the international market.
They also need to interact effectively with other firms in more or less tightly connected networks of shared production and innovation if they are to succeed in the current wave of globalization. The purpose of this study was to investigate the role of global market strategy on the global expansion of Kenyan firms. The research study used descriptive and inferential design as a chosen design. A random sample of firms was drawn out of members of Kenya Association of Manufacturers, based in Nairobi, from the Kenya Association of Manufacturers and Exporters Directory of The senior management of selected firms was surveyed and firms responded making a response rate of 85 percent.
The key finding from the research is that there is a functional relationship between global market strategy and global expansion of SMEs. The implication for practice and policy is that there is a need for collaboration between industry and government in pursuing policies for global expansion and among SMEs and large enterprises particularly in developing capacity and collaboration in global marketing strategy, market intelligence gathering, export promotion and strengthening of foreign trade missions.
An early-warning system to alert firms of changes that may lead to potential failure in their global business activities can be developed. Competitive success in an innovation-driven global economy needs strong local capabilities, and development of capabilities faces numerous market and institutional failures Lall, : Stiglitz, , It is argued that as more and more firms enter the international business environment, there is increased competition.
Technological advancements, declining trade barriers, and others are driving the world economy to become more and more integrated and this rapid globalisation is enabling SMEs to become international in a quicker yet effective manner.
It is argued that African micro and small enterprises MSEs need not only focus on looking for funding for start-up and growth of their entrepreneurial business, but also should focus on those critical success factors CSF referred to as competitive assets or competences or in general those factors that will make them to compete successfully within a given market. The identification of and pursuance of the CSF will enhance their potential for sustainability and ability to anticipate and respond to changes in the market place.
Some of those critical success factors that have been identified include building their capabilities, technical support that would enable them to access capital both locally and internationally as well as sound business systems. In addition, SMEs should focus on production of goods and services of superior quality, understanding customer needs, and meeting them better than their competitors.
In the Constitution of Kenya, the county governments are assigned trade development and regulation functions, including markets, trade licences, fair trading practices, local tourism, and cooperative societies. Together with other devolved functions such as agriculture, county public works, and planning, it is clear that county governments will play critical roles in MSME sector growth, and therefore, the sector growth will depend on whether these counties will develop an enabling environment and make the licencing process seamless and cost of licences reasonable KIPPRA, , pp.
SMEs play an important role in the achievement of sustainable development goals SDGs , promotion of inclusive and sustainable economic growth, creation of employment and decent jobs, promotion of sustainable industrialization and fostering innovation and the reduction of inequality OECD, However manufacturing SMEs in particular face some challenges which include low innovation and product development, inability to access both domestic and international markets, inability to access affordable credit, tedious and lengthy process in quality standards and certification KAM, In addition, they face limited access to markets which is a severe constraint to its growth and competitiveness.
Further, as a result of their small sizes, SMEs usually find it difficult to compete in the domestic economy with established enterprises, face competition from imported goods, and lack requisite productive capacity and technologies to meet demand in the international markets.
It is argued that some affirmative action and selective interventions and preference schemes by the government can enhance their market penetration. In the survey of the sector of , the sector was estimated to have a total of 1. The MSME sector has evolved into a highly vibrant and dynamic sector of the Kenyan economy over the last few decades. It is argued that MSMEs play a crucial role in providing significant employment and wealth creation opportunities. The sector has played a catalytic role in entrepreneurial activities across the country cutting across urban and rural settings thereby contributing enormously towards the socio-economic development and transformation of the country.
With over 7. The MSME survey of indicates that a total of approximately The micro-sized enterprises accounted for Despite its success, the Kenyan MSME sector is faced with numerous challenges especially relating to the regulatory regime.
The entrepreneurial culture is hampered by unfavorable environment curtailing MSMEs from thriving. This has resulted in a high mortality rate of MSMEs with about 2. It is acknowledged that the Government of Kenya has taken various measures to ease the cost of doing business as this can lead to the competitiveness of Kenyan goods in both the local and export markets. The main ease of doing business indicators where improvement was recorded was in registering property, getting credit, protecting minority investors, paying taxes, enforcing contracts and resolving insolvency.
However, a decline in indicators was recorded in starting a business, dealing with construction permits, getting electricity, and trading across borders KAM, ; World Bank, For MSMEs to thrive in a competitive world of business, they need to progressively innovate to ensure that their goods and services reach untapped customer needs. However, the MSME survey showed that that product innovation was present in small establishments engaged in manufacturing, ICT, financial, and health activities.
In addition, process and marketing innovations were largely not common features among MSMEs. The MSMEs business owners expressed their desire for the government to assist in market promotion and to provide an enabling environment for fair competition. Impediments to global expansion or internalisation by SMEs have been cited as lack of entrepreneurial and technical skills; insufficient management and commercial know-how, language and cultural awareness; lack of adequate equipment and facilities; limited access to information on markets, opportunities, threats, regulation, and laws; limited access to innovative production processes and technology; and restricted access to credit and finance, both access to general finance, and to specific trade finance support Hall, ; UNCTAD, In addition, for Kenyan firms to be competitive and to be able to successfully expand globally, it is necessary to pursue opportunities for collaboration between industry and government in addressing some of the impediments facing SMEs.
Thus, the thrust of this research was to investigate the influence of global market strategy on global expansion by Kenyan SMEs. The study was guided by three specific objectives: firstly, to establish the extent to which market strategy influences global expansion; secondly, to ascertain the extent to which foreign market intelligence influences global expansion; and lastly, to determine the extent to which logistics and distribution influences global expansion.
This literature review section starts by examining the views of internationalisation in order the lay to context for understanding the role of global marketing strategy in global expansion of Kenyan SMEs. There are two main views of internationalisation that can be identified.
However, the most frequently used model in the internationalisation literature is the Uppsala model, which is the one represented by the traditional approach to internationalisation.
The underlying assumption of the Uppsala model is that as firms learn more about a specific market, they become more committed to it by investing more resources in the market. It is argued according to the traditional view that firms make their first export entry when they have a strong domestic market base. The stages model of internationalisation, suggests an incremental, evolutionary approach to foreign markets, with companies gradually deepening their involvement as they gain experience and their perceptions of risk change.
The choice of markets occurs according to this view in stages beginning with export to a market that has a close psychic distance, and then expanding their export sales into markets that have increasingly greater psychic distance. Various researchers have questioned some aspects of the stages model as being too deterministic as firms frequently skip stages and therefore the stages model oversimplifies a complex process and that it ignores acquisitions and the impact of exogenous variables.
The Uppsala internationalisation process model has been revisited. This has been prompted by the changes in business practices and theoretical advances that have been made since when it was developed. It is argued that the business environment is as a web of relationships, a network, rather than as a neoclassical market with many independent suppliers and customers. The thrust of their argument is that firstly, markets are networks of relationships in which firms are linked to each other in various, complex and, to a considerable extent, invisible patterns.
In this regard insidership in relevant network s is necessary for successful internationalization, and so, by the same token, there is a liability of outsidership. It is acknowledged that the small entrepreneurial firm has an important role to play in international business especially given that there are strong globalisation pressures that both pull and push the small firm into international markets to ensure its very survival.
It is suggested that the concept of entrepreneurship forms the cornership on which all international business activity is based Mtigwe, Majority of the small and medium enterprises SMEs in Kenya are in the early stages of internationalisation, it is therefore important they develop strategies that they should pursue to compete in the global market.
SMEs have many options of organisation structure to use when expanding across borders. There are many examples of organisation structures that they can use to expand globally which include the following: joint ventures, value-adding partnerships, strategic alliances, cooperative agreements, and industry consortia Mwiti, ; Naisbitt, Access to the global markets will be crucial for growing SMEs in Kenya.
On the global level, WTO can now assist countries in achieving the important goals of market access including non-tariff barriers and rules stability, which they might not be able to secure anymore bilaterally for themselves. However, Kenyan SMEs need to foster foreign market skills and competitive intelligence, innovation and technology skills. Encouraging the development of those skills may require stimulating and implementing reforms in the education system, retraining the labour force, and promoting technological and scientific awareness and progress Simai, For their survival, SMEs in Kenya must critically assess their areas of competitive advantage and seek markets both within and internationally.
SMEs should not be contented with the notion that they need to first understand their markets and to market in the domestic markets. It is argued that even within their domestic markets, they have to contend with the same global competitors. It is acknowledged that SMEs do not have resources to compete with Multinational Corporations MNCs in other markets, but that underscores the need of strategy of being niche players and taking advantage of what technology can offer.
It is contended that the increased competitive pressure has also been responsible for the existence of global markets Porter, ; Yip, The components of the global marketing strategy are as follows: standardization of marketing programs, configuration and coordination of value chain activities, integration of competitive moves, external globalising conditions, global orientation, and international experience.
Domestic market segmentation involves identifying groups of buyers with similar characteristics in a market. The same principle can be applied to countries and markets within countries, giving three different approaches open to the international marketer: identify clusters of countries that demand similar products, however, the flaw in this approach is that within-country heterogeneity is ignored and misleading national stereotyping may be encouraged; identify universal segment across countries, but it is argued that the search for international market segments is best pursued in a sub-global context and; identify diverse segments across countries.
The drawback in this approach is that marketing activities such as advertising channels and sales force operations are varied across nations to target the different segments that demand the same physical product.
It is argued that segmentation is particularly important in multinational firms that wish to develop and implement successful global marketing strategies Walters, ; Young, It has been found that market orientation and competitive advantage relate positively to the level of internationalisation of manufacturing SMEs.
The term market orientation is used to refer to the extent to which the firm is involved in responsiveneness, dissemination or information sharing, gathering market intelligence applicable to current and future customer requirements and wants, considering rival strategies and taking measures, and considering broad business environment and all company stakeholders in undertaking its business globally.
A market-oriented firm aims to achieve and gets access to market intelligence when it comes to the competitors, customers, technology, government, and other environmental factors in a very systematic and proactive approach.
Armario, Ruiz, and Armario also found that there is a direct positive relationship between market orientation and a strategy of internationalization, and that the effect of market orientation on performance in foreign markets is moderated by knowledge acquisition acquisition of market information and intelligence and market commitment the tendency of an organisation to maintain strategies in a particular market.
Marketing orientation promotes the acquisition and analysis of information about customers, competitors, and environmental forces, and this knowledge can be used by organisational members to create and deliver superior customer value. There is increasing interconnectedness of competitive advantage and internationalisation of SMEs. Market orientation in a firm is valuable, rare, imperfectly imitable, and not interchangeable and is one of the internal resources and capabilities that can lead to a sustainable competitive advantage.
The necessary steps for achieving accelerated international and possibly superior subsequent market performance is to build and nurture distinctive capabilities of market-focused learning, internally focused learning and networking capabilities.
These steps will enable the small, innovative, international new ventures to develop leading-edge knowledge-intensive products. Geographical expansion is one of the important growth-strategy for SMEs. By entering into new markets SMEs are able to achieve a larger volume of production and growth. Moreover, there are differences in market conditions across different geographical areas, thus shielding the firms from fluctuation or lack of local demand for their goods and services.
Where there are significant differences between markets, it means that new knowledge and capabilities have to be acquired as often home market capabilities and experience cannot be exported.
Lu and Beamish findings are that there is strong support for the argument that FDI is potentially a more competitive way than exporting for operating in international markets. Given their limited resources and capabilities, SMEs are more susceptible to liability of foreignness than large firms and one effective strategy for managing this aspect of internationalisation is by forming alliances with local partners who help overcome deficiency in host country knowledge.
Delios and Beamish and Lu and Beamish find that there is intrinsic value in the expansion of geographic scope beyond that found in the exploitation of firm-specific proprietary assets. The findings also have one implication that SMEs should not be discouraged by initial setbacks in the internationalisation process. This means that managers in SMEs should focus on learning early experiences and finding effective ways of overcoming the disadvantages encountered initially in operating in foreign markets.
If knowledge is gained about foreign markets, the intrinsic benefits associated with internationalisation will eventually outweigh the costs and the net performance impact will be positive. It is argued that Market-oriented capabilities market sensing; customer linking and channel bonding facilitate acquisition of knowledge about foreign markets. These capabilities are especially important in the earlier stages of the internationalisation process as in the case of Kenyan SMEs.
This is the stage when the firm has little international experience and therefore is likely to follow its domestic routine in terms of collecting information, disseminating that information across the organisation, and designing a corporate response to the market Armario et al.
Global Marketing: Contemporary Theory, Practice and Cases
Now featuring updated suggested and featured reading sections and new Test Bank questions. Because of advances in technology, increasing international trade, growing global income levels, and a convergence of consumer tastes, companies worldwide must examine their business strategies and tactics with a global perspective. This Reading introduces a broad array of fundamental concepts and strategies that will enable an understanding of these dynamic changes in the global marketing environment. A Supplemental Reading offers insight into global marketing in the service industry. Help students determine whether or not an organization is ready to "go global. Explore the market assessment and development of an organization that is planning a global marking program. Understand the tasks involved in managing global marketing programs.
Metrics details. There is need for Kenyan small and medium enterprises SMEs in particular to focus concern on the orientation of business strategy toward global market strategy, market research geared at obtaining foreign market intelligence, innovation and technology, product adaptation, service orientation, collaborative ventures, and long-range vision as critical factors in making them successful in the international market. They also need to interact effectively with other firms in more or less tightly connected networks of shared production and innovation if they are to succeed in the current wave of globalization. The purpose of this study was to investigate the role of global market strategy on the global expansion of Kenyan firms. The research study used descriptive and inferential design as a chosen design. A random sample of firms was drawn out of members of Kenya Association of Manufacturers, based in Nairobi, from the Kenya Association of Manufacturers and Exporters Directory of The senior management of selected firms was surveyed and firms responded making a response rate of 85 percent.
International Marketing Strategies For Global Competitiveness
Below are the available bulk discount rates for each individual item when you purchase a certain amount. Publication Date: March 15, As organizations continue to pursue more global strategies, the need to be able to understand consumers in far away places is increasing. Marketing research is the primary mechanism through which companies understand their current, as well as potential, customers. As companies contemplate the global marketplace, they must consider how domestic market research differs when conducted in international markets.
Proceedings of the World Marketing Congress pp Cite as. Strategic marketing management is rapidly becoming an important issue for multinational enterprises. Changes in the global markets are forcing these firms to rely heavily on marketing managers and marketing strategies.
A global company is generally referred to as a multinational corporation MNC.
Global marketing is also a field of study in general business management that markets products, solutions and services to customers locally, nationally, and internationally. International marketing is the application of marketing principles in more than one country, by companies overseas or across national borders. International marketing is required for the development of the marketing mix for the country.
Product and promotion in global marketing can work together effectively with proper market research and communication techniques. With this in mind, organizations are modifying their marketing strategies to meet the challenges of the global marketplace in addition to sustaining their competitiveness within home markets. These changes also have prompted brands to customize their global marketing mix for different markets, based on local languages, needs, wants, and values. Product Marketing : An effective global marketing plan enables brands to tweak products for local markets while using the most effective promotional channels to reach consumers. Promotion becomes particularly important for positioning the company in such a way that a single product can be tweaked instead of revamped for different markets.
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