INTERNATIONAL MARKETING

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1 INTERNATIONAL MARKETING DANIEL W. BAACK ERIC G. HARRIS DONALD BAACK Chapter 7: International Product and Brand Marketing 229 II: International Markets and Market Research Overview Part I of this textbook provided a backdrop for the field of international marketing. Culture, language, infrastructure, economic systems, and political and legal systems influence any domestic or global marketing operation. In Part II the central core of Figure 7.1 was examined: the market. Concepts of target market segmentation and product positioning were explained, along with international market research methods to emphasize the starting point for any marketing program: identifying consumer wants and needs. and THE Turkey, i Pakistan and India,iand Israel and the PalestiniansMARKETING living in the West BankCOURSE PUT IN YOUR NTERNATIONAL and the Gaza Strip. These conflicts undoubtedly influence consumer attitudes and The third part of international marketing, as shown in Figure 7.1, is the development of the physical goods and intangible services that meet the needs of those in the target behaviors. market. Products are designed and sold within the context of the cultural, linguistic, When the United States invaded Iraq in 2002, various countries throughout the integrated informative inspiring QUOTES world, especially in Western Europe, expressed disapproval. A survey completed in 2004 revealed that nearly 20 % of consumers abroadisaid they would avoid U.S. innovative indispensable NCREDIBLE VALUE companies and products such as McDonald s, Starbucks, American Airlines, and economic, political, legal, and economic constraints imposed by any country in which a global marketing firm intends to operate. In this chapter, product and brand management activities are detailed. Chapter 8 expands the discussion by incorporating the concepts of product and service adaptation. Making certain a product fits with a specific country and its culture helps the product compete in the international marketplace. International product marketing involves first understanding the types of products that companies sell and the main dimensions of those products from the viewpoint of the consumer. Next, product mix decisions regarding the number of products in a line (depth) and the number of product lines (width or breadth) are made. Product packaging and labeling concepts are integrated into all product decisions, as are choices with regard to the number and types of business-to-business products to be offered. In addition, marketers carefully evaluate product support services to ensure consumers and business customers receive quality attention during and after the purchasing process. Barbie dolls (Mattel) because of the war. At that time, the more American a product was perceived to be, the more resistance it encountered.26 International services constitute a growing segment of international marketing integrated ILLUSTRATIONS & MAPS Language Culture rice roduct lace Political and Legal Systems ALGE Me dit er TUNIS IA S ra ne a n ea RIA LEBAN ON PALEST AUTHOINIAN RITY IRAQ N LIBY EGY Pe rsi an Gu lf KUWA IT BAHRAI PT QATAR N SAU ARA DI BIA UNITE ARA D EMIRAB TES OMAN a Greate r Arab Free Tra Coopera Arab Sta tion Counc de Area il tes of the Gu for the lf A SUD Nationalism SYRIA JORDA Se international business factors interact with the 4 Ps. CCO d Infrastructure romotion MORO Re efforts. Companies providing financial, insurance, transportation, health-care, personal, Any animosity or anger toward a country can be worsened by political, economic, or military conflicts between countries. A considerable amount of evidence suggests that animosity toward a country strongly influences consumers.27 In the United States, animosity with regard to objections to the Iraq war reached a level in which Congress circulated a resolution to change the name of the French fries in the congressional P P cafeteria to Freedom fries, because France had expressed strong opposition to themarkets war at the beginning of the conflict. Integrated illustrations demonstrate how five key P P AN YEME N Economic Systems At times, animosity toward another country may be coupled with nationalism. Integrated maps expose students to global locations. Nationalism refers to the strong pride and devotion citizens have in a country or Figure 7.1: The International Marketing Context nation. Nationalism can be the internal response to activities that can also lead to animosity as consumers examine products from other countries. Nationalism should not be considered as a purely negative or positive attitude. It may be associated with heroic sacrifice, loyalty, and group cohesiveness. From a marketing perspective, it can also lead to a preference for purchasing local goods and services. Conversely, nationalism can lead to boycotts, protests, and even acts of violence toward another country or a company conducting business in a foreign land. Nationalistic consumers often perceive that buying imported isinternational wrongmarketing because it negatively impacts Chapter 1:goods Introduction To 21 the domestic economy.28 nt Current Accou s Balances in Billion s of U.S. Dollar over $100 $50 to$100 $10 to $50 $0 to $10 -$0 to -$10 -$10 to -$50 -$50 to -$100 0ver -$100 no data innovative REAL-WORLD APPLICATIONS In May of 2010, millions of Indonesian farmers threatened to boycott Nestlé INTERNATIONAL INCIDENT products. Angry atyouramarketing move to stop As part of an international junket, teamby stopsnestlé to visit an important potentialbuying crude palm oil from Indonesian new client in Spain. Within a few hours of cordial discussions, the manager of the client farms, an you action that would potentially hurt the Indonesian economy, the company invites to attend the bullfights the next day as his guest. You haveseverely little interest in attending the event and do not like the custom. What should you do? How would you farmers expressed national pride and attempted to protect their community.29 respectfully decline? Or, would you accept and then bow out, claiming illness the next day? Would you consider attending? How would your response change if you were a Hindu from India or Nepal? (Hindus hold all life to be sacred and consider bulls to be religious animals that should never be harmed.) Religiosity International Marketing in Daily Life It may be that most people think of something glamorous when the term marketing is used. It may feel classy or sexy to consider a marketing program for the newest hand-held mobile technology, a fancy sports car, or designer clothing. At the same time, a case can be made that the majority of marketing opportunities may come from much simpler products and services those used in everyday life. International Marketing in Daily Life One common theme that appears in this textbook is the marketing of products Innovative and thought-provoking International Incident features encourage critical thinking and class discussion. International Marketing in Daily Life features help students apply marketing concepts to everyday life. to be used daily or regularly. The approach serves a special purpose: to illustrate how the most commonplace of daily activities can lead to the identification of target markets that companies can reach with products that are adapted to individual cultures and national circumstances. Figure 1.10 lists some of the daily activities described in this textbook. When one of these activities is described, the daily living logo show above will appear as part of the presentation. Religions Attitudes towards countries can also be influenced be religion and religious Bathing Brushing Teeth/Dental Hygiene Using the Restroom between countries. Wearing Jeans Increasingly, religiosity, or the degree to which similarities Sleeping and Beds Methods of Transportation consumers within a country or region are religious, has become a factor some Cosmetics Candy marketers consider when positioning products. Religiosity affects shopping CASE 10 Dining Habits and Foods Cooking Methods behaviors, attitudes toward advertising, purchase information-search processes, Drinks and Milk Consumption Coping with Headaches 30 Socialization Music and product preferences. A list of the major religions and the percentage of the Microfinance and Informative end-of-chapter brief cases cover key Religions Methods of Payment and Banking id population that follows each in select countries is presented in Table 5.1. Bottom-of-the-Pyram Figure 1.10: Selected Daily Life Activities and Marketing Opportunities Presented in This topics, including sustainability and bottom-of-themers nsu Textbook Co Each of these religions practices differing dietary programs, holds religious pyramid Six end-of-text comprehensive ceremoniesissues. in differing ways, exhibits varying viewpoints regarding the status of For most consumers in developing informative CASES International Marketing in Daily Life cases provide even more flexibility to your course. INTERNATIONAL EXAMPLE: MARKETING BATHING PRODUCTS As an example of the far-reaching impact of globalization on business practices and international marketing, consider this basic human activity: bathing and cleaning. Bathing and cleaning are routine activities worldwide, but the methods and products r afterthought, an countries, credit is an Photo 10.7: Manual labo pyramid onent of making a ult for bottom-of-theeasily accessible comp Obtaining credit is diffic t scores are tracked s in developing markets. umer purchase. Certainly credi cons d for limite be can t credi and access to ruptcy or foreclosure. to repay loans, which individuals with a bank Women are more likely is rity of consumers, the next loan t market for the majo Still, for the majority of makes them the targe. away the swipe of a credit card microfinance loans. -them-of preneur botto entre for ult -two-year-old Obtaining credit is diffic Mallamma was a forty It is a microfinance loan developing markets. rabad, India. She used pyramid consumers in Hyde in lation ess. popu s busin world fish a s of the 00 Rs) to start estimated that two third of 10,000 rupees (10,0 s. that ss to credit from bank business to the point is unable to obtain acce one year she grew the In be an only hire to can 0 it all, 50,00 able at loan of Rs Instead, credit, if avail she is seeking a second s of, sharks and other form expanding. In Hyerabad accessed through loan employee and continue 0 10,00 Rs 25 This debt comes with a hefty an awati, used 26 organized crime. another borrower, Geet and be extremely high. machine after her husb cost. Interest rates can loan to buy a sewing usiness to

2 The Essence of Marketing Drivers of Globalization: An Illustration Factors That Create International Marketing Complexity: An Illustration The International Marketing Context The Marketing Mix Markets, Needs, and Wants Segmentation, Target Markets, and Positioning (STP) Marketing in an International Context The Drivers of Globalization Channels of Communication Lower Transportation Costs Immigration and Emigration Governmental Actions The Organization of This Book The Factors That Create International Marketing Complexity indispensable ONLINE RESOURCES Part I: Essentials of International Marketing Part II: International Markets and Market Research Part III: International Product Marketing Sustainability Bottom-of-the-Pyramid Ethical Decision-Making and International Marketing Strategic Implications Tactical Implications Operational Implications Terms Review Questions Discussion Questions Analytical and Internet Exercises Case 1. Carrefour: Retailing in an International Marketplace Facebook.com: Global Marketing Opportunities and Connectivity VIDEO LINK 1.1: Facebook s Impact What online community signs up 700,000 new members each day? The answer Facebook.com. The Facebook community included 750 million followers by mid The founder, Mark Zuckerberg, was named Time magazine s Person of the Year in Indispensable online resources for the instructor The statistics associated with Facebook take on nearly epic proportions. If Facebook users in January 2011 were members of a country, that nation would have the third highest population in the world, with only China and India ahead. One out of every twelve people on the planet has a Facebook account. And, in the world of Internet hits, one out of every four page views in the United States occurs on the Facebook site. Facebook has caused some dramatic shifts in everyday life, the core of which are new cultural patterns of interpersonal interactions. Marketing professionals have quickly moved into this realm along with the companies they serve.2 Password-protected resources at include: Many users around the world are familiar with the former Facebook.com opening page. As shown in the photo on page 5, the screen prominently displays the Facebook logo, an important element of its international marketing presence. To maintain interest, the content of the opening photos rotates, giving the website an evolving visual presence. Also, by being Author-created test bank available electronically and in Microsoft Word, with approximately 100 test questions for each chapter. Author-created PowerPoint slides highlight essential content and features from the text Class assignments and answers to in-text questions Full-text SAGE journal articles, carefully selected for each chapter Video links with questions for discussion, sample syllabi, and country fact sheets Interactive online engagement for students See the inside back cover of this text for details and description of the free, open-access, interactive Student Study Site! inspiring QUOTES Reviewers say we are INTEGRATED, FRESH, REAL-WORLD, RELEVANT and GROUND-BREAKING Who said that textbooks are boring? This is one of the few textbooks written that is comprehensive, interesting, and ground-breaking. John Hadjimarcou, University of Texas, El Paso The single most impressive aspect is a fresh approach! It is really nice to see the integration amongst topics. Melissa Malabad, Mary Baldwin College This is not an international business text with marketing stuff in it.... It resembles the textbook that I have wanted to adopt but have not seen... Brent Smith, Saint Joseph s University... there are more real-world examples in this text... relevant and refreshing. John Gironda, Florida Atlantic University incredible VALUE What do your students pay for their current International Marketing text? International Marketing by Daniel W. Baack, Eric G. Harris, and Donald Baack costs students a minimum of $100 less than any of the four best-selling International Marketing texts!

3 INTERNATIONAL MARKETING

4 I dedicate this book to my parents, my wife, and especially to my grandmother Pauline Burns. The support she has provided me the past thirty-five years has been invaluable. Thanks, Nana. Daniel W. Baack I dedicate this book to my parents, my wife, and my kids. For all the love and support, thanks to you all. Eric G. Harris My efforts on this book are dedicated to my brothers: Steve Kepford, who has been a constant source of inspiration, and Drew (Charles) and Landis Burns, who welcomed me as family from the beginning. Donald Baack

5 INTERNATIONAL MARKETING DANIEL W. BAACK ERIC G. HARRIS DONALD BAACK University of Denver Pittsburg State University Pittsburg State University

6 FOR INFORMATION: SAGE Publications, Inc Teller Road Thousand Oaks, California SAGE Publications Ltd. 1 Oliver s Yard 55 City Road London EC1Y 1SP United Kingdom SAGE Publications India Pvt. Ltd. B 1/I 1 Mohan Cooperative Industrial Area Mathura Road, New Delhi India SAGE Publications Asia-Pacific Pte. Ltd. 33 Pekin Street #02-01 Far East Square Singapore Copyright 2013 by SAGE Publications, Inc. All rights reserved. No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the publisher. All opinions expressed by the authors in this book do not necessarily reflect the opinions of SAGE. SAGE shall not be liable for any liability arising out of or related to any of the material contained in this book. Printed in the United States of America Library of Congress Cataloging-in-Publication Data Baack, Daniel W. International marketing / Daniel W. Baack, Eric G. Harris, Donald Baack. p. cm. Includes bibliographical references and index. ISBN (cloth) 1. Export marketing. I. Harris, Eric G. II. Baack, Donald. III. Title. Acquisitions Editor: Patricia Quinlin Associate Editor: Maggie Stanley Assistant Editor: Theresa Accomazzo Editorial Assistant: Katie Guarino Production Editor: Eric Garner Copy Editor: Alison Hope Typesetter: C&M Digitals (P) Ltd. Proofreader: Theresa Kay Indexer: Sheila Bodell Cover Designer: Michael Dubowe Marketing Manager: Michelle Rodgerson Permissions Editor: Adele Hutchinson HF1416.B dc This book is printed on acid-free paper

7 Brief Contents Preface About the Authors xxv xxxii Part I. Essentials of International Marketing 1 Chapter 1. Introduction to International Marketing 2 Chapter 2. Country Selection and Entry Strategies 36 Chapter 3. Global Trade and Integration 72 Part II. International Markets and Market Research 113 Chapter 4. Markets and Segmentation in an International Context 114 Chapter 5. International Positioning 156 Chapter 6. Market Research in the International Environment 190 Part III. International Product Marketing 225 Chapter 7. International Product and Brand Marketing 226 Chapter 8. International Product Standardization and Adaptation 262 Part IV. International Pricing and Finance 297 Chapter 9. International Pricing 298 Chapter 10. International Finance and Pricing Implications 334 Part V. International Place or Distribution 371 Chapter 11. International Marketing Channel Management 372 Chapter 12. International Distribution: Exporting and Retailing 406

8 Part VI. International Promotion and Personal Selling 439 Chapter 13. Globally Integrated Marketing Communications 440 Chapter 14. International Sales Promotions and Public Relations 480 Chapter 15. International Personal Selling and Sales Management 512 Chapter 16. International Marketing Planning, Organization, and Control 548 Appendix A: Comprehensive Cases A-1 Appendix B: Notes B-1 Appendix C: Glossary C-1 Credits D-1 Name Index E-1 Subject Index F-1 Country Index G-1

9 Detailed Contents Preface About the Authors xxv xxxii Part I. Essentials of International Marketing 1 Chapter 1. Introduction to International Marketing 2 Opening Vignette: Facebook.com: Global Marketing Opportunities and Connectivity 3 Overview 6 The Worldwide Marketplace 6 Types of Global Businesses 7 Company Orientation 7 The Essence of Marketing 9 The Marketing Mix 10 Markets, Needs, and Wants 11 Segmentation, Target Markets, and Positioning (STP) 12 Marketing in an International Context 12 The Drivers of Globalization 13 Channels of Communication 13 Lower Transportation Costs 14 Immigration and Emigration 14 Governmental Actions 15 The Factors That Create International Marketing Complexity 15 Culture 16 Language 16 Political and Legal Systems 17 Economic Systems 18 Infrastructure 19 Implications 20 International Marketing in Daily Life 21 Drivers of Globalization: An Illustration 22 Factors That Create International Marketing Complexity: An Illustration 23 The International Marketing Context 24 The Organization of This Book 24 Part I: Essentials of International Marketing 26 Part II: International Markets and Market Research 26

10 Part III: International Product Marketing 26 Part IV: International Pricing and Finance 27 Part V: International Place or Distribution 27 Part VI: International Promotion and Personal Selling 28 Sustainability and the Bottom-of-the-Pyramid 28 Sustainability 28 Bottom-of-the-Pyramid 29 Ethical Decision-Making and International Marketing 30 Strategic Implications 31 Tactical Implications 31 Operational Implications 31 Terms 32 Review Questions 32 Discussion Questions 32 Analytical and Internet Exercises 33 Case 1. Carrefour: Retailing in an International Marketplace 34 Chapter 2. Country Selection and Entry Strategies 36 Opening Vignette: Teens and Jeans: Clothing in Transition 37 Overview 39 Economic Systems 40 Market Economy 40 Command Economy 41 Mixed Economy 42 Economic Development 42 Most-, Less-, and Least-Developed Economies 43 Rostow Modernization Model 44 Emerging Markets 45 Newly Industrialized Countries 46 Transition Economies 46 Effects on International Marketing 48 Stage of Development and Bottom-of-the-Pyramid 49 Global Competition and National Competitive Advantage 49 Demand Conditions 50 Related and Supporting Industries 50 Firm Strategy, Structure, and Rivalry 50 Factor Conditions 51 Government 51 Industry-Level Competitive Advantage 52 Threat of New Entrants 52 Threat of Substitute Products 52 Bargaining Power of Suppliers 53 Bargaining Power of Consumers 53 Rivalry Among Competitors 54 Economic Forces and International Marketing 54 Sustainability and International Marketing 55 Modes of Entry 57 Exporting 58 Licensing 58 Franchising 59

11 Joint Ventures 60 Strategic Alliances 60 Wholly Owned Subsidiary 61 Entry Mode Failure and Exit 63 Theories of Entry Mode Selection 63 Internationalization Theory 63 Internalization Theory 64 Eclectic or OLI Theory 65 Analysis 66 Strategic Implications 67 Tactical Implications 67 Operational Implications 67 Terms 68 Review Questions 68 Discussion Questions 68 Analytical and Internet Exercises 69 Case 2. Mobile Communications: Entry Into Africa 70 Chapter 3. Global Trade and Integration 72 Opening Vignette: Kikkoman Soy Sauce: A Tradition of Trade 73 Overview 74 Free Trade 75 Absolute Advantage 75 Comparative Advantage 76 The Benefits of Free Trade 79 Governmental Policies Supporting Trade 80 Integration 81 Levels of Integration 81 Reasons for Integration Success 81 Integration Trends 82 The World Trade Organization and Integration 83 European Integration 86 The European Union 86 Organization of the European Union 89 Beefs Export in the European Union 90 Other European Trade Organizations 91 Integration in the Americas 92 North American Free Trade Agreement 92 Southern Cone Common Market 93 Andean Community 94 Other Trade Organizations or Agreements 95 Integration in Asia, Africa, and the Middle East 96 Association of Southeast Asian Nations Free Trade Area 96 Asia-Pacific Economic Cooperation 97 Trans-Pacific Strategic Economic Partnership Agreement 97 South Asian Association for Regional Cooperation 98 Beef Exports in Asia 99 Integration in the Middle East and Africa 99 Protectionism vs. Free Trade 103 Government Policies Limiting Trade 103

12 Arguments for Protectionism 104 The Future 106 Legal and Ethical Issues 106 Strategic Implications 108 Tactical Implications 108 Operational Implications 108 Terms 108 Review Questions 109 Discussion Questions 109 Analytical and Internet Exercises 109 Case 3. DHL and Facilitating Small Business Trade 111 Part II. International Markets and Market Research 113 Chapter 4. Markets and Segmentation in an International Context 114 Opening Vignette: Musical Segmentation 115 Overview 117 Markets and Segmentation 118 Culture 118 Origins of Culture 118 Creating Cultural Consumption: Carnival 121 Culture and Values 122 Applying Cultural Values to Marketing Activities 122 Value Levels 123 Culture and Behaviors 126 Cultural Imperatives 126 Cultural Electives 126 Cultural Exclusives 127 Culture and Purchasing Behavior 127 Aesthetics 127 Religion 128 Subcultures and Countercultures 130 Cultural Change 130 The Nature of Markets 131 The STP Approach 131 International Market Segmentation 131 International Consumer Market Segments 132 Demographics 132 Psychographics 134 Geographic Area 135 Geodemographic Segmentation 135 Benefit Segmentation 135 Consumer Types 136 Usage Segmentation 137 International Business-to-Business Market Segmentation 137 Segmentation by Industry 138 Segmentation by Size 138 Geographic Location 138 Product Usage 139

13 Customer Value 139 Dual Channel Marketing 139 Regional and National Segmentation 140 Wants and Needs 140 Money to Spend 140 Willingness to Spend 141 Language 141 Regionally Based Market Segments 142 Segmentation and the Bottom-of-the-Pyramid 142 Products 143 Pricing 143 Delivery 144 Promotion 144 Green Marketing and Sustainability-Oriented Segments 145 Consumer Preferences 145 Green by Necessity 145 A Market Segment Analysis 145 Assessing Market Potential 146 Assessment Criteria 147 Ethical Issues in International Segmentation 147 Strategic Implications 149 Tactical Implications 149 Operational Implications 149 Terms 150 Review Questions 150 Discussion Questions 151 Analytical and Internet Exercises 151 Case 4. Electrolux: Refrigeration and Segmentation 153 Chapter 5. International Positioning 156 Opening Vignette: The Wide World of Tea 157 Overview 159 The Nature of International Product Positioning 160 Positioning Statements and Approaches 160 Product Attributes 160 Competitors 161 Use or Application 161 Price-Quality Relationships 161 Product User 162 Product Class 162 Cultural Symbol 163 International Positioning Objectives 163 Brand Equity 164 Brand Parity 164 International Product Positioning Challenges 165 Changes in Technology 165 Country-of-Origin Effects 166 Regulations 169 Packaging and Labels 170 International Positioning Methods 170 Identify Target Markets 170 Analyze Competition Within the Target Market 171

14 Identity Points of Difference 174 Enhancing Position or Repositioning 177 Sustainability and International Positioning 180 Ethical Issues in International Positioning 182 Strategic Implications 183 Tactical Implications 183 Operational Implications 183 Terms 184 Review Questions 184 Discussion Questions 185 Analytical and Internet Exercises 185 Case 5. TOTO: Positioning Plumbing Products Globally 187 Chapter 6. Market Research in the International Environment 190 Opening Vignette: Focus on Cosmetics 191 Overview 193 Market Research 194 The Scientific Method 194 Objectivity 194 The Pace of Change 195 Types of International Market Research 195 Product Research 195 Pricing Research 196 Promotion Research 196 Distribution Research 197 The International Market Research Process 197 Defining the Problem or Situation 198 Complete a Cost/Benefit Analysis 198 Develop a Research Design 199 Secondary Data 199 Primary Data 200 Reliability and Validity 201 Micro-Level Analysis 202 Macro-Level Analysis 202 Qualitative and Quantitative Research 204 Qualitative Methods 204 Quantitative Methods 206 Online Research: A Hybrid Approach 209 Develop a Sample 209 Sampling Issues in International Research 210 Calculating the Sample Size 211 Collect Data 212 Analyze and Interpret Data 213 Linguistic Problems 213 Metric Equivalence Issues 213 Socially Desirable Responses 214 Formulating Conclusions and Writing Reports 215 Ethics and International Market Research 215 Bottom-of-the-Pyramid and International Market Research 216 Control of the International Market Research Process 216 Strategic Implications 218

15 Tactical Implications 218 Operational Implications 218 Terms 218 Review Questions 219 Discussion Questions 219 Analytical and Internet Exercises 220 Case 6. The Mobile You Breathalyzer 221 Part III. International Product Marketing 225 Chapter 7. International Product and Brand Marketing 226 Opening Vignette: A Good Night s Sleep 227 Overview 229 Types of Products 230 Classifications of Products 230 Convenience Products 230 Shopping Products 231 Specialty Products 232 Product Dimensions 233 International Product Mix Management 234 Product Lines and Mix 234 Packaging 234 Labeling 236 Sustainability and International Product Marketing 237 International Business Products 237 Raw Materials 238 Maintenance, Repair, and Operating Supplies 238 Component Parts 238 Accessory Equipment 239 Business Services 239 Process Materials 239 Installations 239 Distinctions Between Business and Consumer Products 239 Bottom-of-the-Pyramid International Product Marketing 240 International Product Support Services 240 International Services 241 International Product Quality Standards 242 Quality Standards 243 The Product Life Cycle 243 Development 244 Introduction 245 Growth 245 Maturity 246 Decline 246 Product Cycle Theory 247 Market/Product Matrix 247 Market Penetration 248 Product Development 248 Diversification 248 Market Development 248 Implications 249 International Brand Management 249 Family and Individual Branding 250

16 Brand and Product Line Extensions 250 Cobranding 250 Building Powerful International Brands 251 Brand Awareness 251 Brand Meaning 252 Brand Loyalty 252 Double Jeopardy 253 Brand Valuation 253 Implications for Managers 253 Ethical Issues in International Product Marketing 254 Strategic Implications 256 Tactical Implications 256 Operational Implications 256 Terms 257 Review Questions 257 Discussion Questions 257 Analytical and Internet Exercises 258 Case 7. Interface: Prize-Winning, Sustainable Modular Flooring 260 Chapter 8. International Product Standardization and Adaptation 262 Opening Vignette: McDonald s Global Expansion: Adaptation and Differences in Taste 263 Overview 265 Legal Systems 266 International Intellectual Property Protection 266 Intellectual Property Piracy 267 Corporate Spying 267 Reverse-Engineering 268 Country Development 268 International Dispute Resolution 269 Jurisdiction 270 Methods of Dispute Resolution 270 Marketing Implications 272 Standardization 272 Service Standardization 274 Adaptation 274 Laws and Adaptation 275 Adaptation of Services 277 Service Quality 278 Adaptation and Service Quality 279 Music: Legal Systems, Standardization, and Adaptation 279 Legal Adaptation 280 Combining Standardization and Adaptation 282 The Product and Communication Adaptation Model 282 Sustainability and Adaptation 284 Global Innovation 285 Types of Adopters 286 Global Product Diffusion 287 New Product Development and the Bottom-of-the-Pyramid 288

17 Ethical Issues in Standardization and Adaptation 288 Ethics and Laws 288 Strategic Implications 289 Tactical Implications 289 Operational Implications 289 Terms 290 Review Questions 290 Discussion Questions 290 Analytical and Internet Exercises 291 Case 8. AB InBev: Adapting Beer Products in Global Markets 292 Part IV. International Pricing and Finance 297 Chapter 9. International Pricing 298 Opening Vignette: Wind Turbines in Finland: Pricing Sustainability and Economic Incentives 299 Overview 301 The Nature of Price 302 International Prices 303 Price and Perception 303 Value Considerations 303 Emotional Factors 305 Situational Factors 305 International Pricing Methods 306 Cost-Based Pricing 307 Demand- /Supply-Based Pricing 309 Competition-Based Pricing 313 Competition-Based Price Setting for New Products 314 Profit-Based Pricing 315 International Consideration in Pricing Goals 317 Pricing to Bottom-of-the-Pyramid Consumers 319 International Pricing Discounts 321 Loss Leader 321 Seasonal Discounts 322 Quantity Discounts 322 Early-Payment Discounts 323 Channel Discounts 323 Price Changes in International Markets 323 Price Reductions 324 Price Increases 324 Weber s Law 325 Ethical Issues in International Pricing 326 Collusion 326 Predatory Pricing 326 Deceptive Pricing 326 Dumping 327 Strategic Implications 328 Tactical Implications 328 Operational Implications 328 Terms 329 Review Questions 329 Discussion Questions 329

18 Analytical and Internet Exercises 330 Case 9. LaPoste: Pricing Banking Services 332 Chapter 10. International Finance and Pricing Implications 334 Opening Vignette: Pricing ArcelorMitall Steel Globally: The Effects of Currency Changes 335 Overview 337 International Products 338 Money and Currency 338 Currency 338 International Finance 341 Capital Markets 341 The Financing of Transactions 342 The Nature of Currency Exchange 342 Computing Exchange Rates 343 Factors That Affect Currency Movement 344 Individual and Business Transactions 345 Trade and Investment Activity 346 Trade Deficits 348 Inflation 349 Interest Rates 350 The Law of One Price and Purchasing Power Parity 350 Purchasing Power 351 Purchasing Power Parity 351 Governmental Activity and International Finance 353 Currency Regimes 353 Global Currency Institutions 355 Managing Currency Risk 357 Predicting Currency Risk 357 Hedging Currency Risk 358 The Basics of International Finance Funding 358 Financing Ongoing Trade Operations 359 Internal Pricing 361 International Finance and International Marketing 361 Markets 361 Products 362 Prices 362 Place (Distribution) 364 Promotion 364 Strategic Implications 365 Tactical Implications 365 Operational Implications 365 Terms 366 Review Questions 366 Discussion Questions 366 Analytical and Internet Exercises 367 Case 10. Microfinance and Bottom-of-the-Pyramid Consumers 368 Part V. International Place or Distribution 371 Chapter 11. International Marketing Channel Management 372 Opening Vignette: Fruit Around the World 373 Overview 375

19 International Marketing Channels 375 International Marketing Channel Decisions 376 Distribution Intensity 376 Selection of Distribution Channels 377 Direct Marketing 378 Indirect Channels 379 Channel Length 381 Selection Factors 381 Standardization of Channel Structure 382 Environmental Factors and International Marketing Channel Decisions 382 Existing Channels 383 Future Channels 383 Managing International Distribution Channels 384 Establishing International Channel Strategies 385 Selecting Intermediary Arrangements 386 Gray Markets 387 Making Channel Arrangements and Choosing Channel Partners 388 Managing Channel Power 388 Trust and Commitment in International Marketing Channels 390 Cross-Cultural Negotiation and International Marketing Channels 390 Stages in the Negotiation Process 390 Cultural Influences on Negotiations 392 International Marketing Channel Functions 394 Research Market Needs 395 Promote Products 395 Order Processing 396 Communicate With Channel Members 396 Warehousing, Inventory Control, and Materials Handling 397 Address Discrepancies of Assortment 397 Secure Payment and Extend Credit 398 Transportation 398 International Marketing Channel Structure 398 Cost 398 Coordination 399 Coverage 399 Cooperation 399 Control 399 Strategic Implications 401 Tactical Implications 401 Operational Implications 401 Terms 401 Review Questions 402 Discussion Questions 402 Analytical and Internet Exercises 402 Case 11. JDA Software Services 404 Chapter 12. International Distribution: Exporting and Retailing 406 Opening Vignette: Exporting and the Business-to-Business Market: Alibaba.com 407 Overview 409 Exporting Choices 409 Internal Reasons for Exporting 410 External Reasons for Exporting 412

20 Market Selection 413 Export Entry Modes 413 Home-Based Direct Exporting 414 Foreign-Based Direct Exporting 414 Indirect Exporting 415 Pricing Exports 416 Exporting Documentation 416 Regulations and Documentation 417 Export and Import Licenses 417 Financing 417 Physical Distribution 419 Materials Handling 419 Inventory Location 419 Inventory Control 420 Order Processing 422 Methods of Transportation 422 Sustainability and International Distribution Systems 425 Radio Frequency Identification Development and International Transportation 425 International Distribution and the Bottom-of-the-Pyramid 426 Terrorism and International Marketing Channels 427 International Marketing Channels and Utility 427 International Retailing 428 Types of International Retail Outlets 429 Convenience Stores 429 Supermarkets 429 Hypermarkets 429 Open Air Markets and Bazaars 430 Department Stores 430 Discount Stores 430 Specialty Stores 431 Online Retailing 431 The Future 432 Strategic Implications 433 Tactical Implications 433 Operational Implications 433 Terms 434 Review Questions 434 Discussion Questions 434 Analytical and Internet Exercises 435 Case 12. Tesco Targets China 436 Part VI. International Promotion and Personal Selling 439 Chapter 13. Globally Integrated Marketing Communications 440 Opening Vignette: Advertising Jewelry 441 Overview 443 The Communication Process 444 Individual Interpersonal Communications 444 Barriers to Communication 445 Overcoming Barriers to Communication 450 Communicating Marketing Messages 450

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