Global Marketing in the Firm

In: Business and Management

Submitted By Katrishka
Words 1411
Pages 6
Global Marketing in the firm.
Learning objectives: * Characterize & compare the management style in SMEs (small and medium-sized enterprise) and LSEs (Large –scale enterprises). * Identify drivers for ‘global integration’ and ‘market responsiveness’. * Explain the role of global marketing in the firm from a holistic perspective. * Describe & understand the concept of the value chain. * Identify & discuss different ways of internationalizing the value chain.

International expansion:
- provides new & potentially more profitable markets;
- helps to increase the firm’s competiveness;
- facilitates access to new product ideas, manufacturing innovations & the latest technology.
!!Solberg: In order to expand to the int markets, firms should improve their position on the local market (strategy 1). If the firm finds itself immature in a global industry - the firm should seek ways to increase its net worth to attract partners for a future buyout bid (strategy 7).

Global marketing consists of: * finding & satisfying global customer needs better than the competition; * coordinating marketing activities within the global environment.

EPRG framework (the worldview of a firm’s business activities): * Ethnocentric: home country is a superior, the needs of home country are most relevant. * Polycentric (multidomestic): each country is unique and therefore each country should be targeted in a different way. * Regiocentric: the firm tries to standardize its marketing program within regions, but not across them. * Geocentric (global): the firm may offer global product concepts but with local adaptation (‘think global, act local’). Global marketing – the firm’s commitment to coordinate its marketing activities across national boundaries in order to find & satisfy global customer needs better…...

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