Marketing Management 2 Miss Eman Elfar Section 4

Marketing Management 2 Miss/ Eman Elfar Section 4 Spring 2017/2018

Deciding on the Global Marketing Program Marketing Mix Adaptation Standardized marketing mix involves selling the same products and using the same marketing approaches worldwide Adapted marketing mix involves adjusting the marketing mix elements in each target market, bearing more costs but hoping for a larger market share and ROI

Deciding on the Global Marketing Program Product Straight product extension means marketing a product in a foreign market without any changes Product adaptation involves changing the product to meet local conditions or wants Product invention consists of creating something new for a specific country market • Maintain or reintroduce earlier products • Create new products

Deciding on the Global Marketing Program Promotion Companies can either adopt the same communication strategy they use at home or change it for each market.

Product and comunication strategies

True or false: 6) When entering new foreign country, the company try to impose their own culture on it’s foreign market. 7) Population's traditions affect the company’s decision wither to go global or not. 8) When the local market of the company shrink, the company should invest in other company 9) Stable political environment in a country attract foreign investors 10) In joint venturing global firm produce its products in hosting country

True or false: 6) In Licensing, the global firm may give the production right to local licensee. 7) In Management contracting, the domestic firm produces the foreign firm’s product. 8) Foreign firms depend on direct investment to take advantage of lower cost of raw material. 9) Exporting is a the highest risk way to enter the global market. 10) Joint venturing involves the greater level of commitment than direct investment 11) In Direct investment, the global firm can achieve the highest profit comparing to others ways