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Marketing:RealPeople,RealDecisionsMarketinginaMulticulturalEnvironmentChapter4LectureSlidesSolomon,Stuart,Carson,&SmithYournamehereCoursetitle/numberDateMarketing:RealPeople,RealDecisions4-2ChapterLearningObjectivesWhenyouhavecompletedyourstudyofthischapter,youshouldbeableto:•Explainhowcomplexrelationshipsamongfirms,countries,andregionsinfluenceworldtrade.•Understandhowpolitical,legal,andculturalissuesinfluenceglobalmarketingstrategiesandoutcomes.•Explainthestrategiesafirmcanusetoenterglobalmarkets.•Understandtheargumentsforstandardizationversuslocalizationofmarketingstrategiesinglobalmarkets,andunderstandhowelementsofthemarketingmixapplyininternationalmarkets.Marketing:RealPeople,RealDecisions4-3IntroductiontotheTopic•Thischapterisaboutmarketingonaglobalscale,whichposesmanymorechallengesforanorganizationthancompetingonaregional,orevennationalbasis.•Duetothelimitedsizeofourmarkets,Canadianfirmsbynecessity,mustlookbeyondourborderstoachievegrowth.•Therearemanyfactorsthataffecthowacompanychoosestoenterforeignmarkets,asshowninFigure4.2ofthetext.Figure4.2Marketing:RealPeople,RealDecisions4-4TypesofCompanies•Adomesticfirmconfinesitssalesandmarketingeffortstoitshomemarket.Mostcompaniesstartoutthisway,andmanydonotstrayanyfurtherbeyond,suchasserviceproviders.•Anexportingfirmexpandsitsoperationsbyofferingproductsforsaleinothercountries,usuallythosenearby.InCanada,85%ofourexportsgototheUnitedStates,forobviousreasons.•Amultinationalfirmoperatesinmanymarkets,modifyingitsproductstosuitlocaltastesandpreferences.Thefirmretainsthebusinesscultureofitshomemarket.•Aglobalfirmviewstheworldasitsmarket,usingonebasicstrategyformostmarkets,adaptingwhennecessaryforlocalconditions.Marketing:RealPeople,RealDecisions4-5TypesofTrade•Countertrade:atypeoftradeinwhichgoodsarepaidforwithotheritemsinsteadofcash.Alsoknownasthebartersystem,thisformmakesus25%ofworldtrade,anditisusedwhencurrencyrestrictionsareinplace.•Example:muchofthetradewiththeformerSovietblocisdoneonacountertradebasis,asfewcompanieswanttheircurrency.•Tradeflow:thepatternofeconomicinterdependenceamongcountriesorregions.•Worldtradeisnowgreaterthan$5.6trillionperyear,anditisgrowingatarateof6%peryear.TradebetweentheAmericasandEuropeaccountsforapproximately45%ofthistotal.Marketing:RealPeople,RealDecisions4-6TheBasisofTrade•Competitiveadvantage:theabilityofafirmtooutperformthecompetition,thereby,providingcustomerswithabenefitthecompetitiondoesn’t.•Porter’sfourkeystoanation’scompetitiveadvantage:•Demandconditionsthatdrivequalityandcompetitiveness•Relatedandsupportingindustriesthatcontributetosuccess•Factorconditionssuchasthequalityofnaturalresources,skilledandeducatedlabour,andinfrastructure•Companystrategy,structure,andrivalrythatfostercompetitivenessMarketing:RealPeople,RealDecisions4-7RoadblockstoTrade•Notalltradeflowsfreelybetweencountriesforawholenumberofreasons,mostlypolitical.Governmentswillseektoprotecttheirhomeindustriesfromforeigncompetitionwhenitsuitstheirinterests.•Protectionism:agovernmentpolicythatgivesdomesticcompaniesanadvantageoverforeigncompanies.•“Acountrythatcannotfeeditselfcanbeheldhostagebythosethatcan”•Warshavebeenfoughtoverthingssuchasaccesstonaturalresources,however,mostgovernmentswillseektoprotecthomeindustriesbecauseitwillgetthemvotesintheshortterm.•Therearedifferentwaystorestricttrade.Marketing:RealPeople,RealDecisions4-8RoadblockstoTrade(continued)•Importquotas:thelimitationssetbyagovernmentontheamountofaproductallowedtoenterorleavethecountry.TherewerequotasonimportingJapanese-madeautomobilesintotheU.S.inthe1980’s.•TheJapanese“retaliated”bybuildingfactoriesinNorthAmerica,whichcreatedjobs.•Embargo:aquotacompletelyprohibitingspecifiedgoodsfromenteringorleavingacountry.•Tariffs:taxesleviedonimportedgoods,thusmakingthemmoreexpensiverelativetodomesticgoods.•Theproblemwiththeserestrictionsisthattheylessencompetitionfordomesticfirms,whichdiscouragesinnovationandthedriveforthemtobemorecompetitive.Marketing:RealPeople,RealDecisions4-9TradeCommunities•WorldTradeOrganization(WTO):anorganizationthatmediatestradedisputesbetweennationsanddealswithcasesinwhichonecountryclaimsunfairprotectionismbyanother.Thisisavoluntaryorganizationof140membercountrieswhosemainpoweristhethreatofsanctionsagainstoffendingcountries.•GeneralAgreementonTariffsandTrade(GATT):aninternationaltreatytoreduceimporttaxlevelsandtraderestrictions.•ThisagreementhasbeenaworkinprogresssinceitscreationfollowingWWII,androundsofnegotiationstakeyearstocomplete.•ThemostseriousissuesfacingGATTtodayarefarmsubsidiesandintellectualpropertyrightsacrossborders.Marketing:RealPeople,RealDecisions4-10EconomicCommunities•Economiccommunities:groupsofcountriesthatbandtogethertopromotetradeamongthemselvesandmakeiteasierformembernationstocompeteelsewhere.•NorthAmericanFreeTradeAgreement(NAFTA):theworld’slargesteconomiccommunity,composedofCanada,MexicoandUnitedStates.•Thepre-cursortothisagreementwastheAutopact,whichprovidedforfreeflowofautomotivepartsandvehiclesbetweentheU.S.andCanada.•EuropeanUnion:aneconomiccommunitytha