Development of the Global Marketing Plan | My Assignment Tutor

Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedDevelopment of the GlobalMarketing Plan28.10.2020By Svend HollensenVirtual Guest LectureCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedHousekeeping rules + Info• Questions at the end– Use Q&A to type your question– Or ‘raise hand’ button to ask your questionvia audio– Upvote a question if you also have thesame question• Recording will be shared• Slides will be sharedCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedSvendHollensen• Ph.D. (Dr.) and Associate Professor ofInternational Marketing at University of SouthernDenmark (Sønderborg).• Practical experience in Marketing from his workat multinational companies.• Multiple publications to his name includingInternationally recognized Journals and PearsonMarketing books.• Research Interests: Relationship Marketing,Globalization, Internationalization of companies,and Internet-of-Things (IoT)Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved4th ed. publishedin January 2019Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedHere I liveSDUCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedUniversity of Southern DenmarkSønderborgCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedGlobal MarketingEighth EditionPart I – VChapter 1Global Marketing in thefirm, pp. 5-7Development of theGlobal Marketing PlanCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedIn these Covid-19 times:We are stuck as persons ……..But data is flowing across borders morethan ever ……In Global Marketing this means thatplanning & data management isbecoming more and more important ….Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedGlobal Marketing =‘Global Marketing’ and ‘International Marketing’ are synonyms, but …Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedGM, 8e, p. 16:Global marketing is defined as the firm’s commitment to coordinateits marketing activities across national boundaries in order to find and satisfyglobal customer needs better than the competition. This implies that thefirm is able to:•develop a global marketing strategy, based on similarities and differencesbetween markets;•exploit the knowledge of the headquarters (home organization) throughworldwide diffusion (learning) and adaptations;•transfer knowledge and ‘best practices’ from any of its markets and usethem in other international markets.Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedGlobal:Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedLocal:Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedFigure 1.1: The five-stage decision model in global marketingCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedFigure 1.2: Development of an international marketing plan(Continued)Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved(Continued)Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedSource: Hollensen, S. (2008) Essentials of Global Marketing, FT/Prentice Hall, pp. 6–9. Copyright © Pearson Education Limited.Figure 1.2: Development of an international marketing plan (Continued)Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedFinancial consequences of theGlobal Marketing PlanCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedFigure 19.14: Int. Marketing budget 200X and its underlying determinantsCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedTable 19.4: An example of an international marketing budget for amanufacturer exporting consumer goodsNote: on a short-term (one-year) basis, the export managers or country managers are responsible for maximizing the actual figures for each country and minimizing their deviation frombudget figures. The international marketing manager/director is responsible for maximizing the actual figure for the total world and minimizing its deviation from the budget figure.Cooperation is required betw een the country managers and the international marketing manager/director to coordinate and allocate the total marketing resources in an optimum w ay.Sometimes certain inventory costs and product development costs may also be included in the total marketing budget (see main text).Source: Marketing Management: A relationship approach, 2nd edn. Financial Times/Prentice Hall (Hollensen, S. 2010) p. 583, Copyright © Pearson Education Limited.Canada–Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedOne of the most important metrics ……Compare Break-Even with the necessary market share, inorder to reach Break-EvenCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved+Development of new international markets is very similarto a NPD project, concerning accumulated cash flow ……NRE = Non-Recurring Engineering costs = Any cost that is spent as a one-off cost on a NPD projectCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedRemember the next Online session aboutGlocalization Strategyon the 4th November10:00 – 10:45 AMCopyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedThank you !Questions are welcome now orlater on [email protected](SDU University of Southern Denmark, Sønderborg)Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights ReservedQuestions sent in• 1. How important it is to address the needs of Bottom of the Pyramid group while developing aGlobal Marketing Plan?• 2. What would be, according to you, the strongest competitive advantage allowing companies toposition themselves better than their competitors that certainly needs to be emphasized in aGlobal Marketing Plan?• 3. What is your opinion on highlighting the societal impact/value for the society that the product orservice offers in the marketing message, and do you see a need of integrating a separate sectionon the “value/impact on the society” in the Global Marketing Plan?• 4. Do you think with the (rather uncontrollable anymore) development of technology and socialmedia is it still possible for customers to gain a real insight into the value of products or services,or it can be easily manipulated (for example by buying paid reviews or likes on Facebook)?• 5. Although, it is hard to generalize, do you think that companies, while having access to animmense and tempting amount of Big Data on customers and their behavior, are able to meet thestandards for conducting marketing research and refrain from buying data/market insights fromthird parties?

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