Global Marketing Essay

2HOURS EXAM (Q5 choose 2, examples should take up 50%) The self-reference criterion has important implications for international marketing reference criterion and discusses its implications for each element of the marketing mix. Use examples to explain. – Culture * SRC concept link to 4Ps * Religion, value, language, political, education (determinants) * Strategy – Standardization (ethnocentric) Explain the main arguments for and against the customization of the marketing communication campaign in overseas markets. Use examples. – Marcomm * Exchange rate problem * Inflation problem * PLC

Compare and contrast the Market entry strategies – Join ventures and strategic alliances (can change to other factors) and discuss their advantages and disadvantages. Use examples to illustrate your understanding Why and how would government restrict trade? Use examples to illustrate. (Macro-environment) For each macro-environmental element, discuss why international marketers find each element important. Use your own examples to illustrate. (Refer to project) * Link to PESTL DO NOT WRITE ABOUT LOCAL COMPANIES, unless it is a SINGAPORE COMPANY OPERATING IN ANOTHER COUNTRY OTHER THAN SINGAPORE!!!! Related to IMC (Pricing and Promotion) 5-6 pages for each question, 7-8 lines one Paragraph through life examples, youtube, website, companies. One factor with short examples PREPARE EXAMPLES to tell a ‘story’ (7-10) – PRINT OUT!!! (Link to PESTL, teach about standardization/ adaptation of 4Ps) HOW WOULD YOUR PRODUCT BE MARKETED? * ASEAN MARKETING * REGIONAL MARKETING * FMCG (Carrefour, Tesco) * Automobiles – how are cars seen in SG and in other countries (high involvement, luxury good or normal good? ) India: Lano, US States: Land Rover * Food – Instant Noodles? (CP brand – Thailand) * Luxury goods – Watches? Definitely standardization) * Services – Airline, Banking, Hotel, Spas, Resort, Education (e. g Banyan Tree, DBS [local], Maybank [M’sia], AirAsia, CIMB, RMIT) * SmartPhones (who is the biggest market leader in India and China) *ChannelNewsAsia, Yahoo Singapore – e. g. North Korea *Can consider dropping government, but just read through for in case. GLOBAL MARKETING EXAM REVISION *Start by reading chapter 1: * intro to GM, Key Concepts and Terms, * Definition of the different forms of GM * Export marketing * International marketing * Global marketing * Why do companies go global (factors/ drivers) EPLG – ethnocentric, poly…. * Biggest table: Evolution of international marketing * Culture * Marketing Communication (Advertising and Culture) * Market Entry * Government * Macro-environment MCQ (10m): 20 Questions [cover whole syllabus] 1. CULTURE – LINK all the 4Ps = HD * Elements (language, religion, customs, symbols) * Hosfstede – 5 elements, dimension (high power distance, collectivist, etc) * SRC * High and Low context – APPLICATION * How culture affects the marketing mix * How to adapt to the foreign country, advertising. * Adaptation/ Standardization the distribution in the foreign country

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