4 - GLOBAL MARKETING

  • global news as much as possible for newsbyt — anything that will affect sectors and businesses

  • international

  • answer templates:

    • example with statistics, ex. “look at…” then provide reason

starbucks growth strategies:

  • digital rewards program - market penetration

  • product development - instant coffee brand VIA

  • expansion to Europe, Asia, and other regions - market development

  • acquisition of juice maker, evolution fresh - diversification

  • when expanding globally, you should target the citizens

  • the best global brands, are the best local brands.

  • quorn is veggy monde nissin - global brand. 10 peso per share. but, quorn has lackluster performance

  • international marketing vs local marketing - v different. international is harder to penetrate due to culture and legal matters

  • economic climate -

Why burger chains fail in Vietnam

  • McDonald’s only has 17 in Vietnam, burger king 13

  • mcdonals underestimated local diners like banh mi sandwiches sold on the street at rock bottom prices. goes to local vendors

  • 1% from vietnamwent to fast food

  • us and vietnam - severed ties, which added to the lack of support of Vietnamese to reject US

  • vietnam is very supportive of their street vendors

  • vietnamese like shareable food for a family

  • vietnamese ppl only spend 2 to 3 dollars

  • cultural differences. price, rejection, and local support

  • self-reference criterion - ex. nigerians dont accept food given from left hand. u cant js take a pic of them, u need to ask permish

    • an unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decisions

  • ethnocentrism - the notion that people in one’s own company, they do things best and will be successful anywhere else

    • ex.

    • resembled jewish concentration camp, and they repeated it

      • u need to be more culturally intelligent

  • next, international trade. business→ trade, etc

    • economic integration

    • barriers to trade

    • IMF

    • do readings