Global vs International Marketing | My Assignment Tutor

BUS114 GLOBAL ECONOMIESANDINTERNATIONAL MARKETSSession 2Global vs International MarketingMondays 9.30amonline synchronous classDr Alex [email protected] (BACK)…VIRTUALLY Please…• Switch off microphones• Switch off cameras• Make note of your questions for theQ&A session• Breaks• Plan B – should technology collapse ateither end – PPT slides have beenuploaded via MoodleThis session is recordedMODULE AIMSThe content of this module reflects the ever-morphing nature of the international tradingenvironment.In the first part of the module, you will explore the economic, political, social/cultural, andenvironmental drivers that impact international trade, and the different modes of entry intointernational markets. You will learn to formulate appropriate decisions in complex andunpredictable contexts in which data may be limited or contradictory.In the second part of the module, you will focus on the key practical issues linked to expandinga company into international markets. You will be introduced to research methodology and youwill be asked to put forward a research proposal examining the market, industry, or sector ofyour choice.Hopefully, you will find this module not just intellectually stimulating but also very informativeand useful to your future careers.The main module-specific employability skills are:• Self-management skills • Commercial skills • Research & analysis skills • Critical reflection skills•Project management skills.Session Structure & Content• Finalise global vs international marketing• Cover an example of a summative assessmentfor this module• Announce the formative assessment deadlines• Introducing the reading materials / library codeof conduct during Covid19Defining GlobalisationThere is no one universally accepteddefinition of globalisation.History of Globalisationon paper and in practice‘Globalisation’, as a term and as a political concept, onlyemerged in the late C20.Sociology perspectiveSystem approachGlobalisation 3.0 / level playing field (Friedman)One size fits all (Theodore Levitt)Glocal (McKinsey Consultants)SMEs vs LSEs globalisation (Svend Hollensen)Defining Globalisation – Globalization 3.0.Thomas Friedman10 “flatteners” that he sees as levelling theglobal playing field:1. Collapse of the Berlin Wall2. Netscape3. Workflow software4. Uploading5. Outsourcing6. Offshoring7. Supply-chaining8. Insourcing9. Informing10. “The Steroids”THE PROCESS OF GLOBALISATION• involves the creation of linkages or interconnectionsbetween nations• usually understood as a process in which barriers(physical, political, economic, cultural) separatingdifferent regions of the world are reduced or removed• stimulates the exchange in goods, services, money, andpeople.• The removal of these barriers is called liberalisation.INDICATORS OF GLOBALISATIONThere are 3 main economic and financial indicatorsof globalisation:• International trade of goods and services• The movement of people across national borders• The transfer of money capital from one countryto anotherINTERNATIONAL AND GLOBAL MARKETING(Jeannet & Hennessey)Global MarketingStrategyCompany / Home countryBrand name Coca Cola (US)Philip Morris (US)DaimlerChrysler (Germany)Product design McDonalds (US)Toyota (Japan)Ford (US)Product positioning Unilever (GB and Netherlands)Harley-Davidson (US)Packaging Gillette (US)Sourcing Toyota (Japan)Honda (Japan)Gap (US)Distribution Benetton (Italy)The multinational & the global corporationare not the same thing.The multinational corporation operates in a number of countries, andadjusts its products and practices in each—at high relative costs.The global corporation operates with resolute constancy—at lowrelative cost—as if the entire world (or major regions of it) were asingle entity; it sells the same things in the same way everywhere.Which strategy is better is not a matter of opinion but of necessity.Knowledge transferCore global business strategy(HQ) CountryACountryBCountryCCountryD Transferring global know-how and ‘best practices’between countries with feedback to HQInternationalising the strategyFeedbackFeedbackDefinition of ‘Global Marketing’(Source: Hollensen)The Globalization of MarketsTheodore LevittMultinational companies that concentratedon idiosyncratic consumer preferenceshave become befuddled and unable to takein the forest because of the trees.Only global companies will achieve longterm success by concentrating on whateveryone wants rather than worrying aboutthe details of what everyone thinks theymight like.Global Markets by Theodore Levitthttps://www.youtube.com/watch?v=yE_NtyxX6b8Markets by Theodore Levitt0:02 / 4:47Global Markets by Theodore LevittGlobal coordinationGlobalintegrationMarketresponsivenessForces for global coordination/integration• Removal of trade barriers• Global accounts/customers• Relationshipmanagement/networkorganisation• Standardised worldwidetechnology• Worldwide markets• Global village• Worldwide communication• Global cost drivers• Cultural differences• Regionalism/protectionism• Deglobalisation trendForces for market responsivenessWhat is this?When accumulated volume in productionresults in lower cost price per unit, _____occur.What is this?When resources can be reused fromone business/country in additionalbusiness/countries, _____ occur.refers to the development and sellingof products or services intended forthe global market, but adapted tosuit local culture and behaviour(think globally, act locally).2nd guest session this week – Glocalisationhttps://www.pearson.com/se/Nordics-Higher-Education/webinars/Virtual-guest-lecture-svend-hollensen-marketing-2.htmlFigure 1.7 The glocalisation frameworkWHAT IS A GLOBALCOMPANY?‘the essence of being a global company isto maintain a kind of tension within the organisationwithout being undone by it. Some companies say thenew world requires homogenous products ‘one sizefits all’ everywhere. Others say the world requiresendless customization – special products for everyregion. The best global companies understand it’sneither and it’s both.They keep the two perspectives in mindsimultaneously.’KENICHI OHMAEDieter Reigber of Burda:‘People don’t mind advertising, provided they feel they arespoken to appropriately’Michael Perry – former head of Unilever:‘be warned: the successful brand that assumes it cantravel without assessing the cultural differences isacting arrogantly and often suffers accordingly’Kenichi Ohmae:(Head of Tokyo office of McKinsey Consultants)the lure of a universal product is a false allureMajor motives for starting exportinternationalisation motivesProactive• Profit and growth goals• Managerial urge• Technologycompetence/unique product• Foreign marketopportunities/marketinformation• Economies of scale• Tax benefitsReactive• Competitive pressures• Domestic market: small andsaturated• Overproduction/excesscapacity• Unsolicited foreign orders• Extend sales of seasonalproducts• Proximity to internationalcustomers/psychologicaldistanceTable 2.1 Major motives for starting exportSource: adapted from Albaum et al. (1994, p. 31) Figure 1.9 The global integration/market responsiveness grid: the futureorientation of LSEs and SMEs IMPORTANCE OF GM• Activities in the international arena are ofeminent importance to companies inachieving maximum growth potentialE.g.:For German and EU companies, 94% of potentialis outside Germany75% of world market potential is outside the USAbout 80-90% of Coca-Cola’s operating income,Nike’s operating income is generated outsidethe US.For Japanese companies, 85% of potential isoutside Japan Project Title, Goal and AimsTitle:The international fashion industry.Mixing and matching fast fashion with luxuryfashionGoal:• To explore people’s motivations for mixingand match fast fashion with luxuryMain aims:• Define the audience that mixes and matchesfast fashion with luxury fashion• Analyse people’s motives to buy fast fashionand luxury fashionLiterature review (essay)Definitions:• Fast fashion – fast fashion can be defined as abusiness strategy that aims to decrease the process inthe buying cycle and lead times for bringing newfashion into the stores in order to satisfy customerdemand (Gabrielli, Baghi and Codeluppi, 2013).• Luxury fashion – luxury supply chain focus on qualityand craftmanship that would satisfy target audience,people, who want timeless, unique designs. This isdone by considering the compliance with specificationsand using superior quality materials during themanufacturing or sourcing (Brun and Moretto, 2012).• Mix and match – to choose and combine differentthings, for example, pieces of clothing, together indifferent ways.The Rambourg brandpyramid presentshow major brands areseparated accordingto accessibility fromeveryday luxuriessuch as Starbucks toultra-high-end luxurylike Graff diamonds.(Willett, 2015, p.37)Literature reviewMarket analysis:• According to Mintel, (2017), people remained buyingclothes no matter the economic decrease, however, thesales growth in 2017 has been lower than in 2016.• According to the Financial Times (2016), more and morepeople are cutting expenses on clothing or accessoriesand invest more in experiences and other leisureactivities such as holidays or restaurants.• Consequently, some high street brands as well asspecialist clothing stores and department stores arefacing a decline in clothing and accessories sales.Literature reviewLiterature review (essay)• According to author Diana Crane (2000), inprevious centuries, clothing was the main wayfor identifying oneself in public space.• Globalism, social media, made luxury brandsmore popular than before when luxury wasexclusive and made only for the elite that woulddisplay their social status (Crane, 2000).• The fashion trend of mixing and matching ismostly being associated with the middle andlower-class (Atwal et al., 2010).Literature review (essay format)Motives for buying fast fashion:• people express their identity throughpurchases of the latest fashion (Christopher etal., 2004).Motives for buying luxury fashion:• Due to its craftsmanship, unique design andperceived quality people associate luxuryitems with quality, usability and uniquenessvalue. Luxury products performs high role inpeople’s psychological values due to theirexclusivity that fulfils consumers’ needs (Brunand Moretto, 2014).(Saunders, M., Lewis, P. and Thornhill, A, 2015)Methodology -The Research Onion• Type of research by purpose:exploratory research• Secondary data:journal articles, books, internet sources• Type of research study by time horizon:cross sectional• Research approach: deductive approach• Research type by type of data:qualitative research• Data collection tools:in depth interviews• Data analysis:content analysis and themingMethodology(Saunders, M., Lewis, P. and Thornhill, A, 2015)• Interviews and sampling:• 10 in-depth semi-structured interviews• Respondents will be selected by non-probabilitysampling, convenience• 25-35 years old• Facebook groups & fast fashion forums / blogs• People who are interested in fashion and buy fastfashion as well as luxury fashion• Residents in Britain• Residents in LithuaniaMethodology(Saunders, M., Lewis, P. and Thornhill, A, 2015)WEEKS FOLLOWING PRESENTATION 1ST WEEK 2ND WEEK 3RD WEEK 4TH WEEK 5TH WEEK 6TH WEEK 7TH WEEK 8TH WEEKWork shedule:Literature review (in progress)PlanningQuestionnaire deliveryData collection and developmentInterviewAnalysis and preparation towards final documentProject Plan (Gantt chart)ReferencesAtwal, G., Bryson, D., & von Gersdorff, J. (2010). Luxury brands: Deluxurification is in fashion as luxury labelscontinue to diversify into more affordable, mass-market lines, they run the risk of devaluing the whole brand.Admap, 44-46.Baines, P. and Fill, C. (2014) Marketing. 3rd edn. Oxford: Oxford University Press.Brun, A. and Moretto, A. (2012). Contract design and supply chain management in the luxury jewelleryindustry. International Journal of Retail & Distribution Management, 40(8), pp.607-628.Christopher, M., Lowson, R. and Peck, H. (2004), “Creating agile supply chains in the fashionDaneshkhu, S. and Vandevelde, M. (2016). Clothes buying goes out of fashion in the UK. [online] FinancialTimes. Available at: https://www.ft.com/content/5c274b28-7f3d-11e6-8e50-8ec15fb462f4 [Accessed 14 Nov.2017].Diana Crane (2000). Fashion and Its Social Agendas. The University of Chicago PressDr. R. Srinivasan, Dr. R.K. Srivastava and Prof. Sandeep Bhanot (2015). Influence of Financial Value on Purchaseof Luxury Brands With Respect To Demographic Variables. IOSR journal of Business and Management. Volume17, Issue 2. Available at: http://www.iosrjournals.org/iosr-jbm/papers/Vol17-issue2/Version-1/L017216473.pdfReferencesDubois, B. and Duquesne, P. (1993) ‘The market for luxury goods: Income versus culture’, European Journal ofMarketing, 27(1), pp. 35–44. doi: 10.1108/03090569310024530.Gabrielli, V., Baghi, I. and Codeluppi, V. (2013). Consumption practices of fast fashion products: aconsumer‐based approach. Journal of Fashion Marketing and Management: An International Journal, 17(2),pp.206-224.Megan Willet (2015). Louis Vuitton is now a ‘brand for secretaries’ in China. [online] Businessinsider. Availableat: http://uk.businessinsider.com/louis-vuitton-losing-sales-in-china-2015-2 [Accessed 2 December 2017]Megan Willett (2015). Here’s the hierarchy of luxury brands around the world. [online] Businessinsider.Available at: http://www.businessinsider.com/pyramid-of-luxury-brands-2015-3?r=UK&IR=T&utm_content=bufferd0667&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-biuk [Accessed 14 January 2018]Merriam-webster.com. (2017). Definition of MIX AND MATCH. [online] Available at: https://www.merriamwebster.com/dictionary/mix%20and%20match [Accessed 5 Nov. 2017].Saunders, M., Lewis, P. and Thornhill, A. (2015) Research Methods for Business Students, 7th edition, FinancialTimes PressSender T. (2017). Clothing Retailing – UK – October 2017. [online] Mintel. Available at: http://0-academic.mintel.com.emu.londonmet.ac.uk/display/793835/# [Accessed 15 Nov. 2017]Simona Segre Reinach (2005). China and Italy: Fast Fashion versus Prêt à Porter. Towards a New Culture ofFashion. Journal: Fashion Theory, volume 9 issue 1 Available at: https://doi.org/10.2752/136270405778051527BOOK READINGACADEMIC JOURNAL ARTICLE READINGMARKET REPORTS READINGTHOUSANDS OF FREE ACADEMICPUBLICATIONS (JOURNAL ARTICLES)GOOGLE SCHOLARFORMATIVEASSESSMENTSUBMISSIONDEADLINES:Week 9 – RESEARCHTOPICWEEK 13 – LITERATUREREVIEW• SUBMITTING AFTER THEDEADLINE = NO FEEDFORWARD• BRING WORK TO CLASS FORDISCUSSION• DO YOUR WEEKLY HOMEWORKIn this unit you will also receiveFEEDFORWARD– originally developed bymanagement expert named Marshall Goldsmith.Instead of rating and judging your performance in the past, the lecturer will focuson your development in the future.Instead of waiting until you have finished, then marking up all the errors and givingyou a grade, the lecturer would read parts of the work while you are writing it,point out things they are noticing, and ask you questions to get your thinking abouthow you might improve it.Recap:• Introduced the concept of globalisation from variousangles• Compared global with international marketing• Introduced the assessment brief & your deadlines• Explained how formative feedback works in this module• Provided you with a guide to how you build an academicargumentYOUR TASKS FOR WEEK 3• Read the articles posted on Moodle• Get hold of the books / start reading journal articles relatedto “globalisation”, “globalization”, “glocalisation,“glocalization”, “the impact of globalisation on corporationsword-wide”, “the main drivers of globalisation”• Familiarise yourselves with the challenges of SMEs andLSEs in times of pandemic• Familiarise yourselves with the Harvard Referencing System• Watch the free webinar by Prof Svend Hollensen onWednesdayWhy Reference?Referencing allows you to acknowledge the contribution of otherwriters and researchers in your work.Any university assignments that draw on the ideas, words or researchof other writers must contain citations.Referencing is a way to provide evidence to support the assertionsand claims in your own assignmentsSo, citations are not used simply to avoid plagiarism; they haveother important roles tooREFERENCING – main principles / in short• All the sources listed in the reference list must appear in the work’s text body• All the sources quoted in the work’s text body must appear in the reference list• In text: Surname (year) and page number for direct quotes incl. pictures, graphs,charts Smith (2014, p.54)• In the reference list (back of work):• Surname, Initial (year) title of the work, place of publication, publisherSmith, J. (2014) Global Marketing, London, Pearson Education Ltdand for online sources:• Surname, Initial (year) title of the work (online) full http:// address, date of accessSmith, J. (2014) Global Marketing Management (online) http://www.mariongold.com/globalmarketingmanagement, accessedon November 24, 2020

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