Development of the Global Marketing Plan

FIND A SOLUTION AT Academic Writers Bay

Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Development of the Global
Marketing Plan
28.10.2020
By Svend Hollensen
Virtual Guest Lecture
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Housekeeping rules + Info
• Questions at the end
– Use Q&A to type your question
– Or ‘raise hand’ button to ask your question
via audio
– Upvote a question if you also have the
same question
• Recording will be shared
• Slides will be shared
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Svend
Hollensen
• Ph.D. (Dr.) and Associate Professor of
International Marketing at University of Southern
Denmark (Sønderborg).
• Practical experience in Marketing from his work
at multinational companies.
• Multiple publications to his name including
Internationally recognized Journals and Pearson
Marketing books.
• Research Interests: Relationship Marketing,
Globalization, Internationalization of companies,
and Internet-of-Things (IoT)
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
4th ed. published
in January 2019
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Here I live
SDU
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
University of Southern Denmark
Sønderborg
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Global Marketing
Eighth Edition
Part I – V
Chapter 1
Global Marketing in the
firm, pp. 5-7
Development of the
Global Marketing Plan
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
In these Covid-19 times:
We are stuck as persons ……..
But data is flowing across borders more
than ever ……
In Global Marketing this means that
planning & data management is
becoming more and more important ….
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Global Marketing =
‘Global Marketing’ and ‘International Marketing’ are synonyms, but …
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
GM, 8e, p. 16:
Global marketing is defined as the firm’s commitment to coordinate
its marketing activities across national boundaries in order to find and satisfy
global customer needs better than the competition. This implies that the
firm is able to:
•develop a global marketing strategy, based on similarities and differences
between markets;
•exploit the knowledge of the headquarters (home organization) through
worldwide diffusion (learning) and adaptations;
•transfer knowledge and ‘best practices’ from any of its markets and use
them in other international markets.
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Global:
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Local:
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Figure 1.1: The five-stage decision model in global marketing
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Figure 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 Reserved
Source: 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 Reserved
Financial consequences of the
Global Marketing Plan
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Figure 19.14: Int. Marketing budget 200X and its underlying determinants
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Table 19.4: An example of an international marketing budget for a
manufacturer exporting consumer goods
Note: 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 from
budget 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 Reserved
One of the most important metrics ……
Compare Break-Even with the necessary market share, in
order to reach Break-Even
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
+
Development of new international markets is very similar
to 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 project
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Remember the next Online session about
Glocalization Strategy
on the 4th November
10:00 – 10:45 AM
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Thank you !
Questions are welcome now or
later on svend@sam.sdu.dk
(SDU University of Southern Denmark, Sønderborg)
Copyright © 2020, 2017, 2014 Pearson Education, Inc. All Rights Reserved
Questions sent in
• 1. How important it is to address the needs of Bottom of the Pyramid group while developing a
Global Marketing Plan?
• 2. What would be, according to you, the strongest competitive advantage allowing companies to
position themselves better than their competitors that certainly needs to be emphasized in a
Global Marketing Plan?
• 3. What is your opinion on highlighting the societal impact/value for the society that the product or
service offers in the marketing message, and do you see a need of integrating a separate section
on the “value/impact on the society” in the Global Marketing Plan?
• 4. Do you think with the (rather uncontrollable anymore) development of technology and social
media 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 an
immense and tempting amount of Big Data on customers and their behavior, are able to meet the
standards for conducting marketing research and refrain from buying data/market insights from
third parties?

YOU MAY ALSO READ ...  Marilyn enjoys drinking coffee.
Order from Academic Writers Bay
Best Custom Essay Writing Services

QUALITY: 100% ORIGINAL PAPERNO PLAGIARISM – CUSTOM PAPER