GLOBAL MARKETING MANAGEMENT - GBV
Eighth EditionGLOBAL MARKETING MANAGEMENTWarren J. KeeganProfessor Emeritus, Lubin School of Business,Pace University, New York City and WestchesterFellow, Academy of International BusinessWith Elyse Arnow BrillInternational Editions contributions bySandeep PuriInstitute of Management Technology GhaziabadPEARSONBoston Columbus Indianapolis New York San Francisco Upper Saddle RiverAmsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal TorontoDelhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo
CONTENTSPreface 17Acknowledgements 19Part I Introduction and Overview23Chapter 1 INTRODUCTION TO GLOBAL MARKETING 23Introduction23Marketing: A Universal Discipline 25The Marketing Concept 25The Three Principles of Marketing28Customer-Value and the Value Equation 28Competitive or Differential Advantage 29Focus 29Global Marketing: What It Is and What It Is NotThe Standardization Debate 30Globalization and Global MarketingManagement Orientations 372934Ethnocentric Orientation 38Polycentric Orientation 39Regiocentric and Geocentric OrientationsDriving and Restraining Forces 4039Driving Forces 41Restraining Forces 48Outline of This Book 49Chapter Summary 49 Discussion Questions 50 Suggested Readings 50Appendix: The 18 Guiding Principles of Legacy MarketingPart II The Global Marketing Environment5158Chapter 2 THE GLOBAL ECONOMIC ENVIRONMENT 58Introduction58The World Economy—An Overview60The World Economy: Important Trends 61Economic Activity Will Shift from West to East 62Aging Worldwide Population Will Demand Increasing Levelsof Productivity and Efficiency 63Shifts and Growth in Consumer Segments Will Result in Changesin the Global Consumer Marketplace 63Changing Industry Structures and Emerging New Models ofCorporate Organization Will be Characteristic of GrowingGlobal Competition 64
ContentsThe Demand for Natural Resources Will Continue to Grow,Resulting in Growing Pressure on an Already Strained Global,Natural Environment 64Scrutiny of Global Firms' Worldwide Practices Will Increase as theReach and Scale of Global Firms Expand; Increasing Regulation WillShape the Structure and Conduct of Whole Industries 65The Economics of Information Will Be Transformed as theUbquitous Nature of Information Expands 66Talent Pools Have Become Global in Nature; Assimilating Talentinto the Leadership Structure of a Global Company Will Be aCompetitive Advantage 67The Market State: Varying Degrees of Economic Freedom 68Stages Of Market Development 71Low-Income Countries 75Lower-Middle-lncome Countries 76Upper-Middle-Income Countries 77High-Income Countries 78Income And Purchasing Power Parity Around The Globe 79International Comparison Program (ICP) of the World Bank 83Actual Individual Consumption 84The Location of Population 85Global Trade And Investment 86The Balance of Payments 86Global Trade Patterns 87Exchange Rates 89Degrees of Economic Cooperation 91A Free Trade Area 91A Customs Union 91A Common Market 92Chapter Summary 94 Suggested Readings 95Discussion Questions95 Chapter 3 THE POLITICAL, LEGAL, AND REGULATORYENVIRONMENTS OF GLOBAL MARKETING 97Introduction 97The Political Environment 98Nation-States and Sovereignty 98Political Risk 99Taxes 100Dilution of Equity Control 101Expropriation 102International Law 102Common Versus Code Law 103Sidestepping Legal Problems: Important Business Issues 104Establishment 105Jurisdiction 106
ContentsIntellectual Property: Patents and TrademarksInternational Trademark Filings 107Antitrust 110106Licensing and Trade Secrets 111Bribery and Corruption 113Forms of Corruption 114Estimating the Pervasiveness and Magnitude of Corruption115Characteristics of Countries with High Perceived Levels ofCorruption 116Anticorruption Laws and Regulations 117Conflict Resolution, Dispute Settlement, and LitigationAlternatives to Litigation for Dispute SettlementThe Regulatory Environment 120The European Union117118121The World Trade Organization and Its Role in InternationalTrade 121Ethical Issues,;122Summary 123 Discussion QuestionsSuggested Readings 124123Chapter 4 THE GLOBAL CULTURAL ENVIRONMENTIntroduction 125126Basic Aspects of Society and Culture127The Search for Cultural Universal131Communication'and Negotiation132Social Behavior 132Analytical Approaches to Cultural Factors 133Maslow's Hierarchy of Needs133Standardized Cultural Classifications135Hofstede's National Culture DimensionsProject Globe 137Inglehart's World Values Survey138Schwartz's Cultural Value OrientationsLeung and Bond's Social Axioms136139143Ethnographic and Other Nonsurvey Approaches 144Living, Working, and Thriving in Different Cultures 145Understanding the Complexity of IdentityThe Self-Reference Criterion and Perception145147Environmental Sensitivity 148Cross-Cultural Complications and Suggested Solutions 151Training in Cross-Cultural Competency152Summary 153 Discussion QuestionsSuggested Readings 155154
10ContentsPart III Analyzing and Targeting Global MarketOpportunities 157Chapter 5 GLOBAL CUSTOMERS 157Introduction 157The Global Marketing Plan 160Regional Market Characteristics 160European Union 161Russia162North America 164Asia-Pacific 168Latin America and the Carribean175Middle East and Africa 177Marketing In Low-Income Countries 180Global Buyers 181Customer Value and the Value EquationDiffusion Theory182183Summary 186 Discussion Questions 186 Experiential Exercise: The Global Marketing Plan 187 Application Exercises 187 Suggested Readings 187Chapter 6 GLOBAL MARKETING INFORMATION SYSTEMSAND RESEARCH 188Introduction188Overview of Global Marketing Information Systems 190Information Subject Agenda 191Scanning Modes: Surveillance and SearchSources of Market Information 194192Human Sources 194Documentary Sources 195Internet Sources 195Web Analytics: Clouds, Big Data, and Smart AssetsDirect Perception 198Formal Marketing Research 199197Step 1: Identify the Research Problem 199Step 2: Develop a Research Plan 202Step 3: Collecting Data 202Primary Data and Survey Research 204Step 4: Analyze Research Data 207Step 5: Present the Findings 209Linking Global Marketing Research to The Decision-MakingProcess 210Current Issues in Global Marketing Research 211
ContentsHeadquarters Control of Global Marketing Research 213The Marketing Information System as a Strategic Asset 213An Integrated Approach to Information Collection 214Summary 215 Discussion Questions 215 Application Exercises 216 Suggested Readings 238Chapter 7 SEGMENTATION, TARGETING, AND POSITIONINGIntroduction217217Global Market Segmentation218Geographic Segmentation220Demographic Segmentation220Psychographic Segmentation 222Behavior Segmentation 226Benefit Segmentation 226Vertical Versus Horizontal SegmentationGlobal Targeting 227Criteria for Targeting226227Selecting a Global Target Market StrategyGlobal Product Positioning 229228High-Tech Positioning 231High-Touch Positioning 231Summary 232 Discussion QuestionsSuggested Readings 233Part IV Global Marketing Strategy232 234Chapter 8 GLOBAL ENTRY AND EXPANSION STRATEGIES 234Introduction234Decision Criteria for International Business 236Political Risk 236Market Access 237Factor Costs and Conditions 237Country Infrastructure 238Foreign Exchange239Creating a Product-Market Profile239Market Selection Criteria 240Visits to the Potential Market 241Entry and Expansion Decisions and Alterna tives 241"Going Global" Decision Criteria 242Exporting and Export Sourcing 244Organizing for Export Sourcing 245Licensing 248Franchising 249Product Sourcing 25111
12ContentsInvestment: Joint Venture and FDI 251Ownership/Investment 254Market Expansion Strategies 254Alternative Strategies: Stages of Development Model 256Summary 259 Discussion Questions 260 Suggested Readings 260Chapter 9 COMPETITIVE ANALYSIS AND STRATEGYIntroduction 263Strategy Defined 265Industry Analysis Forces Influencing CompetitionFive Forces262266267Global Competition and National Competitive Advantage 270Factor Conditions 271Basic Versus Advanced Factors 273Generalized Versus Specialized Factors 273Demand Conditions 273Related and Supporting Industries 274Firm Strategy, Structure, and Rivalry 275Other Forces Acting on the Diamond 276Other Nonmarket Factors 277Single or Double Diamond? 278Competitive Advantage and Strategic Models 278Generic Strategies for Creating Competitive Advantage 279Broad Market Strategies 281Narrow Target Strategies 282Strategic Positions 283Variety-Based Positioning 283Needs-Based Positioning 284Access-Based Positioning 284Which Position to Take? 285Competitive Innovation and Strategic Intent 285Layers of Advantage 286Changing the Rules 286Collaborating 287Hypercompetition? 288Summary 289 Discussion QuestionsSuggested Readings 289Part V Creating Global Marketing ProgramsChapter 10 PRODUCT DECISIONS 291Introduction 293Basic Concepts 293289 291
ContentsProducts: Definition and Classification 293Products: Local, National, International, and Global 294Product Positioning 299Attribute or Benefit 299Quality/Price 300Use/User 300High-Tech Positioning 300High-Touch Positioning 301Product Saturation Levels in Global Markets 301Product Design Considerations 302Preferences 302Cost 303Laws and Regulations 303Compatibility 303Attitudes Toward Country of Origin 304Global Product Positioning: Strategic Alternatives 305Strategy 1: Product/Communication Extension (DualExtension) 306Strategy 2: Product Extension/Communication AdaptationStrategy 3: Product Adaptation/Communication ExtensionStrategy 4: Dual Adaptation 308Strategy 5: Product Invention 308New Products in Global Marketing 310Identifying New-Product Ideas 311New-Product,Development Location 311Testing New Products in National Markets 313Summary 313 Discussion Questions 313 Application Exercises 313 Experiential Exercises 314Suggested Readings 314Chapter 11 PRICING DECISIONS316Introduction 317Basic Pricing Concepts 317Cost 317The Experience CurveCompetition318318Demand 319Environmental Influences on Pricing Decisions 320Currency Fluctuations320Exchange-Rate Clauses 321Pricing in an Inflationary Environment 322Government Controls and Subsidies 322Competitive Behavior323Price and Quality Relationships323307307 13
14ContentsGlobal Pricing Objectives and Strategies 323Market Skimming 323Penetration PricingMarket Holding324324Cost Plus/Price Escalation 325Using Sourcing as a Strategic Pricing ToolGray Market Goods 327Dumping 328Transfer Pricing 330Cost-Based Transfer Pricing326331Market-Based Transfer Price 331Negotiated Transfer Prices 331Tax Regulations and Transfer Prices 331Duty and Tariff Constraints 334Joint Ventures 334Global Pricing—Three Policy Alternatives 335Extension/Ethnocentric 6Actual Pricing Practices337Summary 338 Discussion QuestionsSuggested Readings 338338 Appendix 1: Section 482, US Internal Revenue CodeAppendix 2: Trade TermsAppendix 3: Trade Documentation and Getting PaidChapter 12 GLOBAL MARKETING CHANNELS345Introduction 345Global Marketing Channels—Historical Developmentand Current Trends 346Channel Strategy 348Customer Characteristics339339353Product Characteristics 353Middleman Characteristics 354Environmental Characteristics 357Distribution Channels: Terminology and StructureConsumer Products 357Industrial Products 361Global Retailing 362Global Channel Innovation 363Channel Strategy for New Market Entry 364Physical Distribution and Logistics 365357340
ContentsOrder Processing 366Warehousing and Inventory ManagementTransportation 366Case Example: Japan 368366Devising a Japanese Distribution Strategy 369Summary 370 Discussion Questions 370Suggested Readings 370 Chapter 13 GLOBAL INTEGRATED MARKETINGCOMMUNICATIONS 372Introduction372Global Integrated Marketing Communications 374The Extension Versus Adaptation Debate 377Customer Engagement 380.Encouraging Social Engagement 382Online Reputation Management 384Social Media Content and Targeting 385Using Data to Drive Business Value 391Advertising Strategy 393Advertising AppealsArt 396Copy 396394Cultural Considerations 398Summary 399 Discussion Questions 399Suggested Readings 400 Part VI Managing the Global Marketing Program 401Chapter 14 GLOBAL ORGANIZATION AND LEADERSHIP: MANAGINGTHE GLOBAL MARKETING EFFORT 401Introduction401Great Companies Think DifferentlyOrganization 404402International Division Structure 407Regional Management Centers 408Geographic Structure409Global Product Division StructureThe Integrated Structure 411410Relationship Among Structure, Foreign Product Diversification,and Size 415Organizational Structure and National Origin415The Myth of the Ideal Organization Structure 417Impact of Emerging Markets on Global Structure 418Global Marketing Audit 41815
16ContentsThe Global Marketing Audit DefinedPlanning and Budgeting421Evaluating Performance422418Influences on Marketing Plans and BudgetsSummary 425 Discussion QuestionsSuggested Readings 425423425 Chapter 15 GLOBAL CORPORATE SOCIAL RESPONSIBILITYAND ENVIRONMENTAL SUSTAINABILITY 427Introduction427Historical Context 428Shared Value: The Big New Idea in MarketingGreat Companies Think Differently 432Environmental Sustainability 434Can CSR Be Measured? 436Sustainability and InnovationStakeholders 437430436Management 438Shareholders 438Employees 439Customers 440Suppliers 441Society441Summary 441 Discussion QuestionsSuggested Readings 442Chapter 16 THE FUTURE OF GLOBAL MARKETING442 444Introduction 445Eight Major Trends 446Globalization and Information Technology 447Marketing and the Web: The End of Distance 447Technological Convergence and Connecting to the CustomerWorld Economic Growth and the Rise of the Rest 450Population Changes452Trade-Cycle Model Clarified454Shared Value: The Big New Idea in Marketing 456The Cs of Marketing: Three Times Four Twelve 456Sustainability 456Careers in Global Marketing 458Summary 458 Discussion Questions 459 Suggested Readings 459Appendix: The Twelve Cs of New Wave MarketingName Index 465Subject Index 471460448
Chapter 1 INTRODUCTION TO GLOBAL MARKETING 23 Introduction 23 Marketing: A Universal Discipline 25 The Marketing Concept 25 The Three Principles of Marketing 28 Customer-Value and the Value Equation 28 Competitive or Differential Advantage 29 Focus 29 Global Marketing: What It Is and What It Is Not 29 The Standardization Debate 30
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1 Global marketing in the firm 5 Learning objectives 5 1.1 Introduction to globalization 6 1.2 The process of developing the global marketing plan 6 1.3 Comparison of the global marketing and management style of SMEs and LSEs 7 1.4 Should the company'stay at home'or'go abroad'? 17 1.5 Development of the global marketing concept 19
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UNIT: - I BASIC CONCEPTS IN MARKETING MANAGEMENT STRUCTURE 1.0 Introduction to Marketing 1.1 Definition of Marketing 1.2 Evolution of Marketing 1.3 Marketing Concept 1.4 Role of Marketing 1.5 Strategic Marketing Planning 1.6 Scope of Marketing 1.7 Approaches of Marketing 1.8
Course Title: Basics Engineering Drawing (Code: 3300007) Diploma Programmes in which this course is offered Semester in which offered Automobile Engineering, Ceramic Engineering, Civil Engineering, Environment Engineering, Mechanical Engineering, Mechatronics Engineering, Metallurgy Engineering, Mining
