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Outline Contents Part One: The Global Marketing Environment: Changes and New Challenges 1 1 Changes and New Challenges 3 2 The Global Marketing Environment 34 3 Understanding Global Cultures and Buyer Behaviour 64 4 Opportunity Analysis and Selection of Markets 94 Part Two: The Development of Global Marketing Strategies 125 5 Managing the Process of Globalization 127 6 Market Entry Strategies 162 7 Creating, Developing and Maintaining Competitive Advantage 187 8 Product and Brand Management 223 9 Global Services Marketing 248 10 Management of Global Communications 278 11 Managing Supply Chain and Distribution 316 12 Global Pricing and Terms of Access 349 Part Three: Managing Global Marketing Operations and New Challenges 385 13 Sales Force Management and Negotiation 387 14 Managing Global Marketing Relationships 418 15 Global Marketing in the Digital Age 457 16 Knowledge Management in International Operations 490 17 Corporate Social Responsibility and Ethics 519 18 Organizing and Controlling Global Marketing Operations 549 Contents Preface 14 Acknowledgements 18 List of Figures 21 List of Tables 24 Glossary of Marketing Terms 26 Part One: The Global Marketing Environment: Changes and New Challenges 1 1 Changes and New Challenges 3 What is Global Marketing? 6 Domestic marketing 7 International marketing 7 Global marketing 7 Changes in the Global Market Environment 8 The emergence of a global services economy 9 The emergence of new economic powerhouses 9 A new direction in global engagement 12 The changing consumer demographics and expectations 13 The changing nature of competition 16 The advent of new technologies 17 The growing transparency of corporate practices 19 The Need for a New Approach to Global Marketing 19 The new rules of global engagement 21 The new global economic architecture 23 Matching the needs of the new global consumers 24 Achieving global competitiveness 25 Marketing using new technologies 26 Knowledge as a source of global competitive advantage 26 The importance of managing relationships 27 Corporate Social Responsibility and Ethics 29 2 The Global Marketing Environment 34 The Global Marketing Environment: A Definition 36 The Factors within the Global Environment 37 The Intermediate Environment 38 The Macro Environment 39 The Political Environment 40 The role of the government in the economy 41 Political stability and risk 41 International relations 42 The Legal Environment 42 The Economic Environment 43 The role of socio-economic blocs and global interdependence 47 Economic facilitators 49 China's accession to the WTO 51 The Socio-Cultural Environment 51 Approaches to the study of culture 52 The Technological Environment 52 The Competitive Environment 56 The Currency Environment 58 Pressure Groups 58 3 Understanding Global Cultures and Buyer Behaviour 64 What is Culture? 66 Language 67 Religion 68 Values and attitudes 69 Education 69 Social organization 70 Aesthetics 70 Technology 71 Understanding Consumer Behaviour 72 Culture and Consumer Behaviour 73 Cultural value system and consumer behaviour 74 Types of need and consumer behaviour 75 Managing Cultural Differences 76 Conducting Cross-cultural Analysis 78 Hofstede: dimensions of culture 79 Trompenaars and Hampden-Turner: behaviour and value patterns 81 Hall: high vs. low context approach 81 Schwartz: values (SVI) 83 Other studies on inter-cultural communications 84 Applying cross-cultural frameworks 84 Business-to-business Buyer Behaviour 85 B2B buying models 88 The effects of culture on B2B buyer behaviour 88 4 Opportunity Analysis and Selection of Markets 94 Global Market Selection 95 The Role of International Market Research 96 Screening international markets 98 The marketing information system 101 Information sources 102 Primary data 103 Research process agreement 103 Establish research objectives 104 Establish the value of information 105 Research design 105 Data collection 106 Preparation and data analysis 106 Report writing and presentation 107 Global Market Segmentation 107 The Market Segmentation Dilemma-Country vs. Global Segments 110 Part Two: The Development of Global Marketing Strategies 125 5 Managing the Process of Globalization 127 What is Globalization? 129 An economic reality? 129 A political reality? 132 A technology reality? 134 A cultural reality? 134 Opportunity or Threat? 138 The opportunities of globalization 138 The threats of globalization 143 Managing the Process of Internationalization 148 The process of internationalization: what is it? 148 The stage models 149 The sceptical views of the stage models 152 The network perspective 153 Born global 154 6 Market Entry Strategies 162 The International Marketing Environment and its effect on Market Entry Strategies 164 Theories of Internationalization 166 The Uppsala or incremental approach 166 Transactional Cost Analysis theory (TCA) 168 Eclectic theory or contingency theory 169 The agency approach 169 The industrial network approach 170 The business strategy approach 171 The Bargaining Power (BP) approach 171 Market Entry Modes 173 Exporting, licensing, franchising, joint ventures and full ownership 174 The electronic marketplace (Marketplace) 174 7 Creating, Developing and Maintaining Competitive Advantage 187 National Competitiveness and Global Competition 188 Factors Affecting the Growth of Global Competition 190 Changing nature of the microeconomic business environment 191 Increasing sophistication of business operations and strategy 196 Strategy and Competitive Advantage 197 The Anatomy of Competitive Advantage 199 S-substance 199 E-expression 201 L-locale 202 E-effect 203 C-cause 203 T-time-span 204 Creating Competitive Advantage through Generic Strategies 204 Cost leadership 204 Differentiation 204 Focus 205 'Stuck in the middle' 207 The Resource-based Theory of Competitive Advantage 207 Capability leverage 209 Capability building 210 New Sources of Competitive Advantage 210 Doing well by doing good 211 Knowledge as a transformation agent 213 Information technology as the driver of change 214 Harnessing relationships for advantage 215 8 Product and Brand Management 223 The Components of the International Product 224 International Product Management 226 Product Strategy 231 Image, Branding and Product Positioning 234 New Product Development 240 9 Global Services Marketing 248 The Significance of Services in the Global Economy 249 The Drivers for Growth in Global Services 252 The Deregulation and liberalization of trade in services 252 Quality service as a business imperative 253 Homogenization of global consumers 253 Global economies of scale 254 Enabling technologies 255 Following the clients 257 Challenges of Marketing Services Internationally 262 Intangibility 262 Heterogeneity 263 Inseparability 265 Perishability 265 International Retail Franchising 266 The Strategic Considerations for Marketing Services Globally 268 Standardization vs. customization 268 The extended mix 269 Socio-cultural differences 271 The role of technology 272 Managing international service delivery 272 10 Management of Global Communications 278 Changes and Issues in Marketing Communications 279 Moving Beyond the 'Standardize or Localize' Debate 279 The Drive towards Integration 283 Advertising 286 The creative strategy 288 Global marketing communications in action: the Bertolli spread 294 Public Relations 296 Direct-response Marketing 299 Planning a direct-response campaign 302 Sponsorship 305 Planning a sponsorship campaign 307 Exhibitions and Trade Fairs 307 Planning exhibitions and trade fairs 309 11 Managing Supply Chain and Distribution 316 A New Approach to Managing Supply Chains and Distribution 318 Effective management of risk 319 Effective management of strategic relationships 319 Effective management of trade-offs 321 Factors Affecting Global Supply Chain Decisions 321 Country characteristics 322 Industry characteristics 323 International supply chain strategy 324 Collaboration in the Supply Chain 326 Types of buyer-supplier relationship 327 The scope of collaboration 328 Developing Market Responsive Supply Chain Strategies 332 Global sourcing 333 Market responsive manufacturing 337 Integrated policies and processes 340 Information sharing 341 Performance measurement 342 12 Global Pricing and Terms of Access 349 The Factors affecting Global Pricing Decisions 351 Pricing Strategy 354 Specific Price Approaches 356 Cost-plus pricing 356 Competitive or flexible cost-plus pricing 356 Market, penetrative or dynamic incremental pricing 357 Special Issues in Global Market Pricing 362 Price escalation 362 Currency fluctuations 363 Buying forward, options trading, hedging and spot trading 366 Devaluation and revaluation 366 Transfer pricing 367 Grey and parallel markets 369 Dumping 370 Leasing 370 Counter-trade 371 Strategies for coordinating strategies across subsidiaries 372 The Export Order Process 372 Terms of Access 374 Tariffs 374 Non-tariff barriers 375 Special Trade Terms in Exporting 375 Export Documentation 376 Export payments 376 Export financing 378 Part Three: Managing Global Marketing Operations and New Challenges 385 13 Sales Force Management and Negotiation 387 The Changing Nature of Sales Management 389 Behavioural forces 390 Technological forces 390 Managerial forces 390 International Sales Management Decisions 392 Sales force administration 392 Environmental factors affecting sales force organization decisions 393 Cultural Impact on International Sales Force Management 394 Recruitment and selection 395 Performance, pay and job satisfaction 398 Developing Customer-oriented Personal Selling 399 Sales Negotiations and the Effect of Culture 401 Preparing for Selling and Negotiating 402 Preparation for Sales Negotiation 403 The Transactional Sales Negotiation Process 405 The Relationship Approach to Sales Negotiation 405 Ethical Considerations in Global Negotiations 409 Ethics in global selling 410 The Role of Training 411 14 Managing Global Marketing Relationships 418 What is a Marketing Relationship? 419 The importance of managing relationships 419 Key drivers in the growth of relational perspectives 420 >From transactional marketing to relationship marketing? 423 Managing Marketing Relationships 426 Some key characteristics of RM 426 Managerial implications 429 Relationships and Networks 432 A network perspective 432 Classifying relationships and stakeholders 432 Customer (Vertical Downstream) Relationships 434 B2C relations 434 B2B relations 436 Supplier (Vertical Upstream) Relationships 437 Relations with goods suppliers 437 Relations with service suppliers 438 Lateral (Horizontal) Partnerships 439 Competitor and other alliances 440 NGOs and NFP organizations 442 National governments 443 Internal Partnerships 444 Employees 444 Functional departments 444 Strategic Challenges in Managing Relationships 446 E-commerce relationships 446 Measuring relationship success 447 Problems with relationship management 448 15 Global Marketing in the Digital Age 457 The Marketing Applications 459 The electronic marketplace 459 The interactive communications medium 460 Web-based supply chain management 462 Managing marketing relationships 463 Managing knowledge 463 How Big is the Global Online Marketplace? 464 Business-to-consumer (B2C) 464 Business-to-business (B2B) 467 Understanding the Target Market through Online Research 469 Online research methods 470 Formulating the Digital Promotional Mix 471 Advertising 471 Sales promotion 476 Publicity 476 Personal selling 471 Direct marketing 477 Paradigm Shift or Short-lived Opportunities? 478 Problems Associated With Online Marketing 482 The Social Impact of the Internet 483 ICT diffusion in developing countries 483 Cultural issues 484 16 Knowledge Management in International Operations 490 Knowledge Management: The Core Concepts 491 What is knowledge? 494 What is knowledge management? 494 Knowledge Management and Competitive Advantage 496 The Development of a Knowledge Management System 498 Level 0: Need recognition 499 Level 1: Creating a knowledge management information system (KMIS) 503 Level 2: Determining methods and process for knowledge building and transfer 505 Level 3: Performance measurement 509 17 Corporate Social Responsibility and Ethics 519 Global Social Issues 520 Corruption 521 Human rights 526 The United Nations Global compact 528 Labour practices 529 Environmental protection 531 Codes of Ethics 535 Making codes effective 538 Ethics training 539 Corporate Social Responsibility and Competitive Advantage 540 Reputation management 541 Risk management 543 Employee satisfaction 543 Innovation and learning 544 Access to capital 544 Improved financial performance 545 Building competitive advantage in the global marketplace 545 18 Organizing and Controlling Global Marketing Operations 549 Philosophy of Management 551 Ethnocentrism 551 Polycentrism 551 Regiocentrism and geocentrism 551 Organizing for Global Marketing 552 Functional 552 Geographical, product, function or strategic business unit analysis 553 Matrix organizational form 554 Virtual Organizational Structure 555 Global Control Mechanisms 559 Variables affecting control 560 The elements of an international marketing control system 561 The global marketing audit 562 Specific control mechanisms 563
Library of Congress Subject Headings for this publication:
International business enterprises -- Management.
Strategic planning.