Stages in the Product Lifecycle There are four stages in the product life cycle: introduction, growth, maturity, and decline. Life Cycle: Firms’ products progress through the stages of development, which is indicated by their changing profits over time.
Stages in Globalization Domestic Company. Market potential is limited to the home country. International Company. Multinational Company. Global. Transnational Company.
The word ‘ International Marketing ‘ is defined as the exchange of goods and services across national borders to meet the requirements of the customers. It includes customer analysis in foreign countries and identifying the target market . The major participants in international marketing are as follows −
These seven are: product, price, promotion, place, packaging, positioning and people.
The 4Cs ( Clarity , Credibility, Consistency, Competitiveness) is most often used in marketing communications and was created by David Jobber and John Fahy in their book ‘Foundations of Marketing’ (2009).
Transition 1: Modern humans leave Africa; Phase 1 begins: Humans colonise the world. Transition 2: Climate warms and stabilises; Phase 2 begins: Agriculture allows rise of ancient civilisations. Transition 3: Steam Revolution; Phase 3 begins: Trade costs drop, Old Globalisation starts, the Great Divergence appears.
Four phases of globalisation Phase 1: Humanising the globe (300,000 BCE–10,000 BCE) Phase 2 : Localising the global economy (10,000 BCE–1820 CE) Phase 3 : Globalising local economies (1820–1990) Phase 4: Globalising factories (1990–present)
Internationalization describes the process of designing products to meet the needs of users in many countries or designing them so they can be easily modified, to achieve this goal.
Key Takeaways Foreign market entry options include exporting, joint ventures, foreign direct investment, franchising, licensing, and various other forms of strategic alliance. Of these potential entry models, licensing is relatively low risk in terms of time, resources, and capital requirements.
International Marketing – Advantages Provides higher standard of living. Ensures rational & optimum utilization of resources . Rapid industrial growth. Benefits of comparative cost . International cooperation and world peace. Facilitates cultural exchange. Better utilization of surplus production. Availability of foreign exchange.
To promote social and cultural exchange among the nations. To assist developing countries in their economic and industrial growth by inviting them to the international market thus eliminating the gap between the developed and the developing countries.
The Five Marketing Concepts The Production Concept . The production concept is focused on operations and is based on the assumption that customers will be more attracted to products that are readily available and can be purchased for less than competing products of the same kind. The Product Concept . The Selling Concept . The Societal Concept.
According to the seven Cs, communication needs to be: clear, concise, concrete, correct, coherent, complete and courteous. In this article, we look at each of the 7 Cs of Communication, and we’ll illustrate each element with both good and bad examples .
Using the eight ‘P’s of marketing – Product, Place, Price, Promotion …