Preview

Market: where Marketing:4P Customer need:

buyers and sellers
customers intend to purchase
interact to trade
of a good or service

Events and Trends

The acceptance of the free market system among developing countries
The burgeoning impact of the Internet, mobile phones, and other global media
The resources and global environment
The rapid growth

I of U.S Business
-Foreign companies in US => compete with US firms
-Great acquisition by foreign and Us companies
-Global markets are a necessity:
+Foreign earnings a higher percentage of profits
+Multinationals outperform domestic firms
+Global value increased
+Intensifying domestic competition

I of Viet Nam Business

-Foreign companies in Vn => compete with Vn firms
-Great acquisition by foreign Companies

 INTERNATIONAL MARKETING
-International marketing: to plan, price, promote, and direct the ¬flow of a company’s
goods and services to consumers or users in more than one nation.
=> Environment is the only difference: Competition, legal restraints, government
controls, weather, fickle consumers, economic conditions, technological constraints,
infrastructure concerns, culture, and political situations.
VN Business environment
-Love foreign brand: Historical of economics, Product quality
-Price war: Decrease selling price, Government control
-Promotion: Master of marketing, Research and discover insight of customer
-Distribution: Easy to buy product
 IM TASK
- Controllable factors: 4P [Product, Price, Place, Promotion], research.
- Domestic Uncontrollable: political / legal, economic, competition.
- Foreign Environment Uncontrollable: political / legal, economic, competitive, level
of technology, structure of distribution, geography and infrastructure, cultural forces.
 UNDERSTAND IM
- Market, marketing, international marketing
- Domestic marketing vs International marketing
- Environment and the marketing mix
 IM ISSUES
- Self-Reference Criterion and Ethnocentrism
- Cross-cultural Analysis
SRC
Self-Reference Criterion: unconscious reference to one’s own cultural
values, experiences, and knowledge as a basic for decision.
Cross-cultural analysis
Define business problem in home-country -> define business problem in foreign country
-> Isolate SRC influence + examine -> Redefine problem without SRC + solve for
optimal business goal
 IM INVOLVEMENT-STAGES

Reactive Proactive

No direct foreign marketing Regular foreign marketing

Infrequent foreign marketing International foreign marketing
Global marketing
 Reactive (Thụ động)
S1. No direct Foreign Marketing.
- Products reach foreign markets indirectly by:
+ Trading companies.
+ Foreign customers who contact firms.
+ Web orders (Amazon, Sephora,
Zozotown.com,...)
+ Domestic distributors.
==> More orders ==> Stimulating company's
interest ==> Seeking more international sales.
S2. Infrequent Foreign Marketing.
- Caused by temporary surpluses:
+ Goods available ==> Surpluses ==> Sale to
foreign market.
+ Domestic demand increases => No surplus
=> Foreign sales declines.
Proactive (Chủ động)
S3. Regular foreign marketing.
- Dedicated production capacity for foreign
markets.
- Strategy:
+ Firm employs domestic or foreign
intermediaries.
+ Uses its own sales force or sales subsidiaries.
- Products are adapted when domestic demand
grows.
- Depends on profits from foreign market.
S4. International marketing.
- Fully engage in international marketing
activities.
- Prepared plan to product for various types of
market.
- Produce in foreign market (MNC -
Multinational Corporation)
S5. Global Marketing.
- Whole world one market (global perspective)
=> Half revenues come from abroad.
- Market segment is defined by factors that
span the globe (income level, hobbies,
education, ...)

GM orientation
- All markets of company purview are considered as a single global market and
standardizing the marketing mix where culturally feasible and cost effectively.
- Firms may choose a global market strategy for one product but a
multidomestic strategy for another product.