Global Management
Global Management
Global Management
Kartei Details
| Karten | 27 |
|---|---|
| Sprache | English |
| Kategorie | BWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 10.06.2024 / 10.06.2024 |
| Weblink |
https://card2brain.ch/box/20240610_global_management
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| Einbinden |
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What is the Globalization Imperative?
It is unavoidable for businesses, goverments and organizations to engage and adapt in globalization:
- technical advatage
- stay competitive
- market expansion
- resource acess
- diversification
- legal advantage
- sustainability
Why global marketing is necessary?
1. Local Market saturation
2. New markets = new opportunities
3. bad domestic economical situations
4. internet revolution
5. stay competitive
Why markets globalize?
- income impact: more money per head = more demand
- cultural liberation = need for intercultural exchange
- import and export
What are the SC benefits of globalizing?
- outsourcing / off shoring
- sustainable trend = local production
- restoring! - focus on resilience of supply chain
What was the evolution of global marketing?
1. domestic marketing
2. export marketing
3. international marketing = own needs for every market
4. multinational marketing = regional
5. global marketing = standartisation among different markets
BEMs (Big emerging markets)
- Chinese Area
- India
- CIS
-B.R.I.C
Most innovative Countries
- Switzerland
- US
- Japan is catching up
Global Trade Agreements
- GATT: lowering trade barriers
- WTO: 153 countries
What is the Internet influence for Globalization
- better information finding
- easier to copy
- E-Commerce Regulation Problems
Types of regional economics arrangements
- free trade areas: NAFTA
- customs unions: ASEAN
- common markets: EU
- currency union: EU
- political union
How many multy national companies we have?
78000 mcn's
- 10% outsourced in a foreigen enterprise
born global
a start up is from minute one global!
Most important financial happenings from 1998
- Asian Financial Crisis (1997-1998)
- Introduction of the Euro (1999)
- South American Financial Crisis (Early 2000s)
- U.S. and European Economic Slump (Early 2000s)
- The Great Recession (2007-2009)
- Chinese Economic Deceleration (Since Mid-2015)
- Brexit (2020)
- COVID-19 Pandemic (2020-Present)
- Russia's Invasion of Ukraine (2022)
How do companies cope with exachange rates?
Companies can purchase foreign exchange on the spot market or use forward contracts to hedge against currency fluctuations.
how are crypto currencies changing the monetary system?
- enabel safe and efficent transactions without intermediaries
- are not stable
How are sales and culture connected?
- Marketing needs to fit the cultural demand and need
What are the common elements of culture?
- culture cane overcome borders
- is learned and shared
- some parts are connected (one big picture)
How do we connect culture to global marketing?
- Product Policy: Tailor products to local values and preferences; some products may be restricted due to cultural reasons.
- Pricing: Varies across cultures; perceptions of value differ.
- Distribution: Cultural variables influence distribution strategies.
- Promotion: Influenced by cultural norms and taboos; essential for communication strategy.
Why is the political evironment important?
Political norms are usually connetcted with the countries legal sturcture
What are the two forces which influence a company the most in political terms?
- law / government
- political stability
Why we do gloabal marketing research?
- Importance: Solid marketing research is crucial for making informed global marketing decisions and avoiding costly mistakes.
What are the major challenges for global marketing research?
- Complexity of Research Design: Due to environmental differences.
- Accuracy of Secondary Data: Often lacks accuracy and comparability.
- Time and Cost: Primary data collection is time-consuming and expensive.
- Coordination: Difficult to manage multicountry research efforts.
- Comparability: Establishing comparability across countries is challenging.
Marketing Rsearch with the internet?
- Pros:
- Large sample sizes in a short time.
- Global access.
- Cost-effective.
- Anonymity.
- Quick data analysis.
- Short response times.
- Cons:
- Limited infrastructure in some countries.
- Sample representativeness issues.
- Technological problems.
- Low response rates.
- Risk of multiple responses from the same individual.
Why we do a market size assesment?
To understand if there is sales potential in the market.
Why do we do segments in global marketing?
- to understand our customer grouü and find specific marketing and product solutions for different segments
What are the most important part about segments?
- Identifiable: Easy to define and measure.
- Sizable: Large enough to be worth targeting.
- Accessible: Easy to reach through promotional and distribution efforts.
- Stability: Stable in composition and behavior over time.
- Responsive: Respond differently to marketing mixes.
- Actionable: Align with the company’s goals and competencies.
What are international segment aproaches?
- Country-as-Segments: Classifies countries based on socioeconomic, political, and cultural criteria.
- Disaggregate Consumer Segmentation: Focuses on individual consumers and identifies segments based on consumer similarities.
- Two-Stage Segmentation:
- Macrosegmentation: Classifies countries into groups.
- Microsegmentation: Segments consumers within each country-cluster.
