Chapter 13 Flashcards
market growth opportunities
- global marketing strategy
- local marketing strategy
global marketing strategy
consists of selling the same product using the same positioning and communications globally
local marketing strategy
consists of customizing both the product and the communications program for each unique market
global brands
brands that hold significant market share in their home country as well as other countries
3 characteristics of global brands
- quality signal
- global myth
- social responsibility
quality signal
consumers believe, more purchase higher quality
global myth
consumers view it as “cultural ideal” –> feel like a citizen of the world
social responsibility
higher level of corporate social responsibility and expected to respond to social problems associated with what they sell
intracountry consumer segments view on global brands
- global citizens
- global dreamers
- antiglobals
- global agnostics
global citizens
use a company’s global success as an indication of product quality and innovativeness, and are concerned that the firms act in a socially responsible manner
global dreamers
view global brands as quality products, and are not particularly concerned about social responsibility
antiglobals
believe that global brands are higher quality than local brands, but dislike brands that preach U.S. values and do not trust global companies to act responsibly
global agnostics
evaluate global brands in the same way they evaluate local brands
cross-cultural analysis
a form of marketing research that examines the differences and similarities among consumers in different countries
reasons to pursue global markets
- multinational fever; attractive multinational markets, products or services
- overseas markets offer future growth when home markets mature
- consumers around the globe eager to try foreign products
6 global value groups
- strivers
- devouts
- altruists
- intimates
- fun seekers
- creatives
strivers
ambitious and materialistic
devouts
responsible, respectful and conservative
altruists
unselfish in their concern for others, society and the future
intimates
focus on social relationships and family
fun seekers
young in age and outlook, value adventure and good times
creatives
seek knowledge and insight, and have a keen interest in books and new media
