International Marketing Essay

1836 words - 7 pages

Introduction The Procter & Gamble company (P&G) is founded in 1837. And it manufactures and markets a broad range of consumer products in many countries throughout the world. The company's products fall into five business segments: Laundry and cleaning, Paper, Beauty care, Food and Beverage, and Health Care. For the nine months end of 3/31/00, revenues rose 6% to $30.29 billion. Net income applicable to Come fell 10% to $2.94 billion. Revenues reflect growth in unit volume and product upgrade. Earnings were offset by increases in marketing and research expenses. (www.yahoo.com, Profile - Procter & Gamble) Pantene is a famous shampoo product of P&G. And before1992, Procter & Gamble company want it enter the Chinese market. But how can it be introduced? Below, the entry strategies for Pantene in Chinese market will be discussed.Main Part I.The total Entry Strategy alternatives In Fifield & Lewis, International Strategy, 1998, P106 the summary of all the entry strategy alternatives for foreign market are mentioned: Entry Strategy alternatives Entry strategy alternatives Exporting Overseas production Indirect exporting Without direct investment ? Via domestic organizations Licensing ? Trading companies Franchising ? Export houses (EMCs) Contract Manufacturing ? Piggy-backing ? Direct exporting With direct investment ? Agents Assembly ? Distributors Joint ventures ? Company Marketing Strategiec alliances Subsidiary Acquistion Greemfield development Entry strategy Entry Implementation Analysis ? Inventory Profitability ? Personnel/admin Assets ? Logistics Finance Costs Risk Exit strategy Figure 1. Market entry alternatives (Fifield & Lewis, International Strategy, Butterworth-Heinemann, 1998, P106) II Chinese market ( customer buying behavior) The Chinese customer wants to scrutinize the products of Western company personally and make assessments of their trustworthiness and goodwill. The Chinese want to feel they are dealing with a friend who will play fair and make possible a comfortable, long-term relationship.? Do not always offer your most favorable price up fornt. The Chinese want to bargain and negotiate.? Do not, without good cause, insist on selling on letter-of--credit terms. The Chinese are usually prompt payers.? Do not make any statement you can't back up, because the Chinese record everything you say in negotiating sessions.? Do not offer or accept any terms or conditions that you will not want in future transactions. Although the Chinese will constantly ask for something "this time only,", it means every time.? Offer training in China and abroad.? To follow the rules listed before above, have the same group in your company deal with the Chinese over time, at least one of whom understands the language.As foreign companies have sold or tried to sell to the PRC over recent years, much experience has been acquired, and some checklists have been developed.(Source: Ball & McCulloch, P577-578) III The two entry...

Find Another Essay On International Marketing

International Marketing Essay

490 words - 2 pages INTERNATIONAL MARKETING 92% of the world’s consumers live outside the U.S. Thus, international marketing is very important. When selling to foreign markets, one must realize that there are major differences between other countries & the U.S. Aside from political and legal differences, there are economic, technological, social (family, religion, education, health ...) & cultural differences. Each 1 billion in trade deficit yields a

International Marketing Essay

1020 words - 4 pages International Marketing Proctor & Gamble originated in 1837, when William Proctor and James Gamble formed a partnership in Cincinnati, Ohio. The partnership flourished making the company a gaining name as principled manufacturer of high quality consumer goods sold at competitive prices. By 1992 Proctor & Gamble was a multinational company with annual sales of almost $30 billion profits exceeding $1.8 billion, and a reputation for

International Marketing

10229 words - 41 pages being charged through the regular channel but at a price that still allows a nice profit. Certain products sell for different prices in different countries. As we discussed in the unit of international marketing, a gray market occurs when a product is bought in one country and exported to another where the price is generally higher. Both Luis Vuitton suitcases and golf clubs were imported to Japan, depressing prices there.Integrated Marketing

International Marketing Strategy

915 words - 4 pages International marketing has become a very important concept for businesses in the world where international trade is a common thing and that expanding business outside the domestic market is the next logical step for prominent companies in today's business norm for survival and success. The rapid advancement in communication technology, information transfer and more globalize financial markets have set the stage for international trade to strive

International Marketing Ethics

924 words - 4 pages /2006/bulgaria/scorecard.cfm?subcategoryID=89&countryID=6Keegan, W., & Green, M. (2005).Global marketing. [University of Phoenix Custom Edition e-Text]. Upper Saddler River, NJ: Pearson/Prentice Hall. Retrieved May 25, 2009, from University of Phoenix, rEsource, MKT450 - International Marketing Web site.OECD. (2005).Steps taken by Bulgaria to implement and enforce the convention on combating bribery of foreign public officials in international business. Retrieved May 25, 2009 from http://www.oecd.org/document/42/0,3343,en_2649_34859_36427370_1_1_1_1,00.html

International Marketing Ethics: Bulgaria

917 words - 4 pages marketing. [University of Phoenix Custom Edition e-Text]. Upper Saddler River, NJ: Pearson/Prentice Hall. Retrieved May 24, 2008, from University of Phoenix, rEsource, MKT450 - International Marketing Web site.OECD. (2005). Steps taken by Bulgaria to implement and enforce the convention on combating bribery of foreign public officials in international business. Retrieved June 9, 2008 from http://www.oecd.org/document/42/0,3343,en_2649_34859_36427370_1_1_1_1,00.html

International Marketing Case :Hershey

2313 words - 9 pages , I. & Lowe, R. (1999) International Marketing Strategy: Analysis, Development and Implementation, 2nd Edition, International Thomson Business Publishing.· Johansson, J.K. (2000) Global Marketing: Foreign Entry, Local Marketing and Global Management, McGraw-Hill.· Keegan, W.J. (1999) Global Marketing Management, 6th Edition, Prentice Hall.· Koch, A. (2001) Selecting overseas markets and entry modes

Final International Marketing Plan

2348 words - 9 pages Final International Marketing PlanExecutive SummaryThe Coca-Cola Company is aiming to establish the organization in a global market. In order to do this an effective international marketing plan must be developed. The market chosen for this global endeavor is France. The following marketing plan includes a variety of information on the development process. Market research is the largest aspect of creating a marketing plan. Before the Coca-Cola

Final International Marketing Plan

5475 words - 22 pages Within the last five weeks Team A from the International Marketing class MKT 450 has been working on an International Marketing Plan directed towards an international demographic. Team A decided to market portable air conditioners made by General Electric to the country of India. Considering India's climate and the popularity and experience of General Electric, Team A decided that this would be a good product to promote.Within our research we

International Marketing Comparasion

1175 words - 5 pages Trade on an international level has increased over the past decade and continues to increase today. There are many companies who do both domestic and international marketing, and many foreign companies that operate in the United States (US) domestic market today as well. When a business decides to operate on an international level, there are several factors that must be taken into consideration. The purpose of this paper is to examine those

International marketing plan

4906 words - 20 pages Table of ContentsPreliminary International Marketing Plan 3Research & Development: 3Cultural Awareness: 4Legal Issues: 7Human Resources Management: 9Information Technology: 10Product Adaptation: 10Future Expansion 12Financial Plan 13Pricing Policy for Market Penetration 15Financing Company Global Operations 17References 19Citations 20International Marketing PlanPreliminary International Marketing PlanAny company located in the United States

Similar Essays

International Marketing Essay

959 words - 4 pages International Marketing Explain the stages that are typically taken by a firm moving from a domestic business to an international? Domestic Marketing: involves the company manipulating a series of controllable variables such as price, advertising, distribution and the product in a largely uncontrollable external environment that is made up of different economic structures, competitors, cultural values and legal infrastructure within

International Marketing Essay

2726 words - 11 pages Marketing is an universal economic activity, which is present in every human society. Its activity transcends geographic, political divisions and serves markets wherever they exist.The Chartered Institute of Marketing defines marketing as "Management process responsible for identifying, anticipating and satisfying customer requirement and profitably." (Doole Isobel and Lowe Robin, International Marketing Strategy, Second Edition 1999) The above

International Marketing Essay

2756 words - 11 pages The term international marketing refers to exchanges across the national boundaries for the satisfaction of human needs and wants. International marketing activities intends to facilitate the exchange or transfer of goods between nations. International marketing is the process of focusing the resources and objectives of the company on global marketing opportunities. (Keegan J Warren, Global Marketing Management, Pearson Education Pte Ltd, 2003

International Marketing Essay 2016 Words

2016 words - 8 pages people's concept of product and buying behavior. Lack of cultural awareness not only can lead to a decrease of product sales, but can even collapse the company’s whole international image. In this sense, understanding cultural differences plays an incredibly significant role in process of developing marketing strategies. Starbucks's success is considered as a miracle. It has developed into more than 15,700 stores in around 43 countries worldwide