Expert answer:There are several Marketing concepts in the docume
Solved by verified expert:First, read the entire assignment directions. Then next, watch the PBS-NOVA Documentary “Secrets of the Viking Sword”. It is a free source and publicly available. No need to sign in. While watching, pause often and take notes where appropriate on the different aspects that are relevant to the question on hand. This is not an particularly easy assignment and I expect you to spend time and effort on it. http://www.pbs.org/wgbh/nova/ancient/secrets-viking-sword.html (Links to an external site.)Links to an external site.What are all the Marketing related terms and concepts that you were able to glean from the documentary? These concepts would not be spelled in as many words, but I expect you to interpret them given the context.Here is an abbreviated example: Build a superior product (the first P) and customers will beat a path to your door (better mousetrap). The Product/production era. The Ulfberht was “cutting edge” technology and was the best in its league. There are many such marketing concepts that you can talk about. Do not restrict it to just a discussion of the 4Ps. Please make references to the documentary when you write about them. Also, make connections to International marketing as the Vikings used these swords for trade or to attack foreign nations.This will be an interesting assignment and I hope to get some really good and illuminating/reflective answers.Here is an example of how you would write/expand your answer:The first “P” of marketing is PRODUCT. In the product era of marketing, all that the manufacturer had to do was produce. As long as the manufacturer was producing a high quality product, it would sell (you can have a Ford car in any color, as long as it was black). Also, customers would have to wait a long time after paying in order to get their order fulfilled. Similarly, the Viking Sword Ulfbehrt, was cutting edge technology and was not manufactured in large numbers. Supply was limited and was probably expensive. Therefore, it was in high demand by the rich and ambitious warriors (customers). In the production era, a manufacturer had to build a better mousetrap. There were enough mousetraps in the market and customers were picky. They knew which one was the best and would demand the best. The Ulfbehrt was the best sword and its performance meant the difference between life and death for the wielder. So warriors wanted the better sword. Just seeing the name on the sword afforded special status and respect to the warrior who carried it and it also made the opponent weak in the knees even before starting the battle.You need to be very detailed and descriptive. The more you write, the more you are able to convey. There is NO word limit on this assignment. There are several Marketing concepts in the documentary. These concepts have been dealt with in both your MKT 485 text and in MKT 301 (which all of you had to take as a prerequisite for this course). So go dig through your text(s) and write this essay.
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ch_12.ppt
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International Marketing
15th edition
Philip R. Cateora, Mary C. Gilly, and John L. Graham
The People’s Republic of
China (PRC) (1 of 2)
11
• Aside from the United States and Japan, there is
no more important single national market than
the PRC
• The PRC with a dual economic system,
embracing socialism along with many tenets of
capitalism, has produced an economic boom
with expanded opportunity for foreign
investment
• Its GNP averaged nearly 10% since 1970 and is
predicted to be around 8 – 10% in the next 10 to
15 years, equaling that of the US by 2015
Roy Philip
2
The People’s Republic of
China (PRC) (2 of 2)
11
• Two major events that occurred in 2000 had a
profound effect on China’s economy:
– Admission to the World Trade Organization
(WTO)
– US granting normal trade relations (NTR) to
China on a permanent basis (PNTR)
• Two steps China must take if its road to
economic growth must be smooth:
– Improving human rights
– Reforming the legal system
Roy Philip
3
Hong Kong
11
• After 155 years of British rule, Hong Kong
reverted to China in 1997, when it became a
special administrative region (SAR) of the PRC
• Hong Kong is given a high degree of autonomy.
It negotiates bilateral agreements (which are
then “confirmed” by the PRC0 and makes major
economic decisions on its own
• Hong Kong is a free society with legally
protected rights as the PRC continues to pursue
a generally noninterventionist approach to
economic policy that stresses the private sector
Roy Philip
4
Taiwan, The ROC
11
• Both Taiwan and China continue to implement
WTO provisions between themselves
• Taiwan companies have invested over %50
billion in China, and about 250,000 Taiwaneserun factories are responsible for about 12% of
China’s exports
• Trade helps out both countries: Taiwanese
companies face rising costs at home – China
offers a nearly limitless pool of cheap labor and
engineering talent; China’s SOEs are laying off
millions and Taiwan provides plentiful jobs
Roy Philip
5
Japan
11
• Japan’s fast growth in the 1970s and 1980s
amazed the world. Then came the early 1990s,
and Japan’s economy produced a stunning
surprise: it slowed, sputtered, and stalled
• Four explanatory themes have emerged:
–
–
–
–
Faulty economic policies
Inept political apparatus
Disadvantages due to global circumstances
Cultural inhibitions
Roy Philip
6
Global Circumstances
11
• Japanese population is shrinking faster than the
U.S. In 2005, while American baby boomers
were at their peak of productivity, the Japanese
were about 10 years ahead to population declines
and graying hair
• Serious disadvantage in the information age: its
complex language (three alphabet system)
hindered software innovations
• With historically low real prices of oil and the
U.S. peak consumption level of SUVs, Japan was
late to tap this market
Roy Philip
7
The Cultural Explanation
11
• The lack of a national goal for Japan plagued
them after successfully building themselves from
the ruins of World War II
• The Japanese management culture such as,
lifetime employment, job promotion based not
on merit but on length of service, reciprocal
contractor/subcontractor loyalties, hindered
their adjustment to the new economic era
• Japan is expected to continue its slow-growth
economy; Toyota’s 2010 quality problems may
have disrupted its contributions to the economy
Roy Philip
8
India
11
• The following steps have already been taken:
– Privatizing state-owned companies ; reducing stake
to about 51%
– Recasting the telecom sector’s regulatory authority
and demolishing the monopolies enjoyed by SOEs
– Signing a trade agreement with the U.S. to lift all
quantitative restrictions on imports
– Maintaining momentum in the reform of the
petroleum sector
– Planning the opening of domestic long-distance
phone services, housing, and real estate and retail
trading sectors to foreign direct investment
Roy Philip
9
India
11
• India still presents a difficult business
environment
– Tariffs are well above those of developing world
norms
– Inadequate protection of intellectual property rights
– Anti-business attitudes of India’s federal and state
bureaucracies continue to hinder potential
investors and plague their routine operations
– Delay by policymakers on selling money-losing
SOEs, making labor laws flexible, and deregulating
banking
– Widespread corruption and ingrained bribery
Roy Philip
10
India
11
• But India presents a lot of opportunities
– Massive market (over 1 billion, second in size only
to China)
– Cheap and qualified labor
– Knowledge of English
– Educated middle class numbering 250 million
(college graduates, scientists, engineers, etc)
– Supplier and exporter of expertise in all areas of
information technology
– Time zone puts India in a competitive position with
their European counterparts (they work while
Americans sleep)
Roy Philip
11
Asia Pacific Trade
Associations
11
• Once a source of inexpensive labor for products
shipped to Japan or to third markets, countries
in the Asia Pacific region are now seen as viable
markets
• Three free trade associations in this region:
– Association of South East Asian Nations (ASEAN)
– ASEAN+3 (ASEAN members plus ministers from
China, Japan, and South Korea)
– Asia-Pacific Economic Cooperation (APEC)
Roy Philip
12
Association of Southeast Asian 11
Nations (ASEAN)(1 of 2)
• Goals of the ASEAN
– Operating within a free trade area
– The ability to sell in an entire region without
differing tariff and nontariff barriers
– Distribution can be centralized at the most costeffective point rather than having distribution
points dictated by tariff restrictions
– Pricing can be more consistent, which helps
reduce smuggling and parallel importing
– Marketing can become more regionally and
centrally managed
Roy Philip
13
Asia-Pacific Economic
Cooperation (APEC)
11
• APEC was formed in 1989
– Provides formal structure for major governments to
discuss mutual interests in open trade and economic
collaboration
– Includes all major economies of the region and the most
dynamic, fastest-growing economies in the world
• Common goal and commitment to:
–
–
–
–
–
Open trade
Increase economic collaboration
Sustain regional growth and development
Strengthen the multilateral trading system
Reduce barriers to investment and trade without detriment
to other economies
Roy Philip
14
Marketing Opportunities in
Greater China
11
• Across this vast land of opportunity, there are extreme
differences in economic wellbeing, cultures, and
political structures
• The following sectors are great for American
exporters:
– Automotive components, cleaner coal, construction
equipment, education and training services, machine
tools, marine industries, healthcare, water and
wastewater treatment, rail equipment, renewable
energy, and green building
• Finally, the influence of national government policies
and regulations of marketing will often be minor
compared with that of their local counterparts
Roy Philip
15
International Marketing
15th edition
Philip R. Cateora, Mary C. Gilly, and John L. Graham
Global Marketing
Management
12
• The trend back toward localization
– Caused by the new efficiencies of customization
– Made possible by the Internet
– Increasingly flexible manufacturing processes
• From the marketing perspective customization is
always best
• Global markets continue to homogenize and
diversify simultaneously
– Best companies will avoid trap of focusing on
country as the primary segmentation variable
Roy Philip
2
Benefits of Global Marketing
12
• When large market segments can be identified
– Economies of scale in production and marketing
– Important competitive advantages for global companies
• Transfer of experience and know-how
– Across countries through improved coordination and
integration of marketing activities
• Marketing globally
– Ensures that marketers have access to the toughest
customers
– Market diversity carries with it additional financial
benefits
– Firms are able to take advantage of changing financial
circumstances
Roy Philip
3
International Planning
Process
12
Exhibit 12.1
Roy Philip
4
Alternative Market-Entry
Strategies (1 of 2)
12
• An entry strategy into international market should reflect
on analysis
– Market characteristics
• Potential sales
• Strategic importance
• Strengths of local resources
• Cultural differences
• Country restrictions
– Company capabilities and characteristics
• Degree of near-market knowledge
• Marketing involvement
• Management commitment
Roy Philip
5
Alternative Market-Entry
Strategies
12
Exhibit 12.2
Roy Philip
6
Alternative Market-Entry
Strategies (2 of 2)
12
• Companies most often begin with modest export
involvement
• A company has four different modes of foreign
market entry
–
–
–
–
Exporting
Contractual agreements
Strategic international alliances
Direct foreign investments
Roy Philip
7
Contractual Agreement
(1 of 2)
12
• Contractual agreements
– Long-term,
– Nonequity association between a company and
another in a foreign market
• Licensing
– A means of establishing a foothold in foreign markets
without large capital outlays
– A favorite strategy for small and medium-sized
companies
– Legitimate means of capitalizing on intellectual
property in a foreign market
Roy Philip
8
Contractual Agreement
(2 of 2)
12
• Franchising
– Franchiser provides a standard package of products,
systems, and management services
– Franchise provides market knowledge, capital, and
personal involvement in management
– Expected to be the fastest-growing market-entry
strategy
• Two types of franchise agreements
– Master franchise
• Gives the franchisee the rights to a specific area with
the authority to sell or establish subfranchises
– Licensing
Roy Philip
9
Strategic International
Alliances
12
• Four characteristics define joint ventures:
– JVs are established, separate, legal entities
– The acknowledged intent by the partners to share
in the management
of the JV
– There are partnerships between legally
incorporated entities such as companies,
chartered organizations, or governments, and not
between individuals
– Equity positions are held by each of the partners
Roy Philip
10
Strategic International
Alliances
12
• Consortia
– Similar to joint ventures and could be classified as
such except for two unique characteristics
• Typically involve a large number of
participants
• Frequently operate in a country or market in
which none of the participants
is currently active
– Consortia are developed to pool financial and
managerial resources and to lessen risks
Roy Philip
11
Direct Foreign Investment
12
• Factors that influence the structure and
performance of direct investments
– Timing
– The growing complexity and contingencies of
contracts
– Transaction cost structures
– Technology transfer
– Degree of product differentiation
– The previous experiences and cultural diversity of
acquired firms
– Advertising and reputation barriers
Roy Philip
12
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