Global Marketing Management

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  • Edition: 8th
  • Format: Loose-leaf
  • Copyright: 2019-12-12
  • Publisher: Wiley
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Global Marketing Management, 8th Edition combines academic rigor, contemporary relevance, and student-friendly readability to review how marketing managers can succeed in the increasingly competitive international business environment. This in-depth yet accessible textbook helps students understand state-of-the-art global marketing practices and recognize how marketing managers work across business functions to achieve overall corporate goals. The author provides relevant historical background and offers logical explanations of current trends based on information from marketing executives and academic researchers around the world.

Designed for students majoring in business, this thoroughly updated eighth edition both describes today's multilateral realities and explores the future of marketing in a global context. Building upon four main themes, the text discusses marketing management in light of the drastic changes the global economy has undergone, the explosive growth of information technology and e-commerce, the economic and political forces of globalization, and the various consequences of corporate action such as environmental pollution, substandard food safely, and unsafe work environments. Each chapter contains review and discussion questions to encourage classroom participation and strengthen student learning.

Table of Contents

1 Globalization Imperative 1

Why Global Marketing is Imperative 3

The Fluid Nature of Global Competition 7

Globalization of Markets: Convergence and Divergence 11

Evolution of Global Marketing 17

Summary 26

Key Terms 26

Review Questions 26

Discussion Questions 26

Further Reading 27

Appendix: Theories of International Trade and the Multinational Enterprise 28

Summary 34

Key Terms 34

2 Economic Environment 35

Intertwined World Economy 37

Country Competitiveness 42

Emerging Economies 44

Evolution of Cooperative Global Trade Agreements 47

Information Technology and the Changing Nature of Competition 54

Regional Economic Arrangements 57

Multinational Corporations 62

Summary 64

Key Terms 65

Review Questions 65

Discussion Questions 65

Further Reading 66

3 Financial Environment 68

Historical Role of the U.S. Dollar 69

Development of Today’s International Monetary System 70

Foreign Exchange and Foreign Exchange Rates 76

Balance of Payments 83

Economic and Financial Turmoil Around the World 88

Marketing in the Euro Area 95

Summary 101

Key Terms 102

Review Questions 102

Discussion Questions 103

Further Reading 103

4 Global Cultural Environment and Buying Behavior 104

Meaning of Culture 106

Elements of Culture 107

Cross‐Cultural Comparisons 120

Adapting to Cultures 128

Culture and the Marketing Mix 130

Summary 137

Key Terms 138

Review Questions 138

Discussion Questions 138

Further Reading 139

5 Political and Legal Environment 141

Political Environment—Individual Governments 142

Political Environment—Social Pressures and Political Risk 156

Terrorism and The World Economy 164

International Agreements 165

International Law and Local Legal Environment 171

Issues Transcending National Boundaries 176

Summary 192

Key Terms 192

Review Questions 193

Discussion Questions 193

Further Reading 195

6 Global Marketing Research 196

Research Problem Formulation 200

Secondary Global Marketing Research 201

Primary Global Marketing Research 206

Leveraging the Internet for Global Market Research Studies 214

Market Size Assessment 216

New Market Information Technologies 222

Managing Global Marketing Research 224

Summary 226

Key Terms 227

Review Questions 228

Discussion Questions 228

Further Reading 229

7 Global Segmentation and Positioning 230

Reasons for International Market Segmentation 231

International Market Segmentation Approaches 235

Segmentation Scenarios 236

Bases for International Market Segmentation 239

International Positioning Strategies 247

Global, Foreign, and Local Consumer Culture Positioning 253

Summary 256

Key Terms 256

Review Questions 256

Discussion Questions 256

Further Reading 257

Appendix 257

Regression 259

8 Global Marketing Strategies 261

Information Technology and Global Competition 262

Global Strategy 267

Global Marketing Strategy 279

R&D, Operations, and Marketing Interfaces 285

Regionalization of Global Marketing Strategy 290

Competitive Analysis 298

Summary 299

Key Terms 299

Review Questions 299

Discussion Questions 300

Further Reading 301

9 Global Market Entry Strategies 302

Country Selection 303

Scale of Entry 306

Choosing the Mode of Entry 307

Exporting 312

Licensing 314

Franchising 316

Expanding through Joint Ventures and Alliances 317

Wholly Owned Subsidiaries 324

Dynamics of Entry Strategies 329

Timing of Entry 330

Exit Strategies 333

Summary 336

Key Terms 337

Review Questions 337

Discussion Questions 337

Further Reading 339

Appendix A: Country Screening—Converting Raw Data into a 10‐Point Scale 339

Appendix B: Alternative Country Screening Procedure 340

Appendix C: Mode of Entry Choice—Three Theoretical Perspectives 341

10 Global Product Policy Decisions I: Developing New Products for Global Markets 342

Standardization versus Customization 344

Multinational Diffusion 349

Developing New Products in the Global Marketplace 353

Truly Global Product Development 363

Summary 364

Key Terms 365

Review Questions 365

Discussion Questions 365

Further Reading 366

Appendix A: Using Conjoint Analysis for Concept Testing in Global New Product Development 367

Appendix B: Back‐of‐the‐Envelope Calculations—Incremental Break‐Even Analysis (IBEA) 369

11 Global Product Policy Decisions II: Marketing Products and Services 371

Global Branding Strategies 373

Management of Multinational Product Lines 385

Product Piracy 390

Country‐of‐Origin (COO) Effects 394

Global Marketing of Services 400

Summary 403

Key Terms 403

Review Questions 403

Discussion Questions 404

Further Reading 405

12 Global Pricing 406

Drivers of Foreign Market Pricing 407

Managing Price Escalation 414

Pricing in Inflationary Environments 417

Global Pricing, Currency Fluctuations, and Tariffs 419

Transfer Pricing 423

Global Pricing and Antidumping Regulation 426

Price Coordination 427

Summary 432

Key Terms 432

Review Questions 432

Discussion Questions 433

Further Reading 433

13 Global Communication Strategies 434

Global Advertising and Culture 435

Setting the Global Advertising Budget 439

Creative Strategy 441

Global Media Decisions 448

Advertising Regulations 450

Choosing an Advertising Agency 454

Other Communication Platforms 456

Globally Integrated Marketing Communications (GIMC) 466

Summary 468

Key Terms 468

Review Questions 469

Discussion Questions 469

Further Reading 470

14 Sales Management 471

Market Entry Options and Salesforce Strategy 473

Cultural Considerations 477

Impact of Culture on Sales Management and Personal Selling Process 483

Cross‐Cultural Negotiations 490

Expatriates 495

Summary 502

Key Terms 502

Review Questions 502

Discussion Questions 503

Further Reading 504

15 Global Logistics and Distribution 505

Definition of Global Logistics 506

Managing Physical Distribution 509

Managing Sourcing Strategy 518

Free Trade Zones 528

International Distribution Channel 531

International Retailing 534

Summary 544

Key Terms 545

Review Questions 545

Discussion Questions 545

Further Reading 546

16 Export and Import Management 548

Organizing for Exports 549

Indirect Exporting 552

Direct Exporting 553

Mechanics of Exporting 554

Role of the Government in Promoting Exports 560

Managing Imports—The Other Side of the Coin 564

Mechanics of Importing 567

Gray Markets 569

Summary 578

Key Terms 578

Review Questions 579

Discussion Questions 579

Further Reading 580

17 Planning, Organization, and Control of Global Marketing Operations 581

Global Strategic Marketing Planning 582

Key Criteria in Global Organizational Design 583

Organizational Design Options 585

Organizing for Global Brand Management 594

Life Cycle of Organizational Structures 595

Control of Global Marketing Efforts 597

Summary 600

Key Terms 601

Review Questions 602

Discussion Questions 602

Further Reading 602

18 Marketing Strategies for Emerging Markets 603

Emerging Markets 604

Competing with the New Champions 608

Entry Strategies for Emerging Markets 617

Product Policy 619

Pricing Strategy 623

The Distribution Challenge 624

Communication Strategies for Emerging Markets 627

Summary 629

Key Terms 630

Review Questions 630

Discussion Questions 630

Further Reading 631

19 Global Marketing and the Internet 632

Barriers to Global Internet Marketing 633

Global Internet Consumers 640

Globally Integrated versus Locally Responsive Internet Marketing Strategies 641

The Internet and Global Product Policy 644

Global Pricing and the Web 647

Global Distribution Strategies and the Internet 649

The Role of the Internet for Global Communication Strategies 652

Summary 657

Key Terms 658

Review Questions 658

Discussion Questions 658

Further Reading 659

20 Sustainable Marketing in the Global Marketplace 660

Global Corporate Citizenship 661

Major Areas of CSR 663

The Case for Sustainability 671

Challenges for Sustainability Strategies 673

Sustainable Marketing and Global Consumers 677

Developing and Implementing a Sustainable Strategy 679

Global Stakeholder Engagement Programs 685

Sustainable Marketing Mix Policy for the Global Marketplace 687

Crisis Management and Consumer Boycotts 693

Summary 697

Key Terms 697

Review Questions 697

Discussion Questions 697

Further Reading 698

Subject Index I-1

Name Index I-19

Company Index I-27

Supplemental Materials

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

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