International Marketing & Export Management
International marketing in a connected world M ost countries have more or less recovered from the financial crisis in 2008–09. Real estate prices are back up in many places around the world. Stock markets are up in most countries. Largescale unemployment characterizes Southern Europe, and Greece in particular faced issues with foreign debt. Financially, countries around the world have probably never been as dependent on each other as in this era. The world economy is increasingly becoming an interwoven Web of connections and interdependencies. Three of the challenges which inspired this eighth edition of International Marketing and Export Management are related to this increased financial connectedness. The influence of these challenges has become clearer in recent years and they are on course to be increasingly vital to companies and consumers alike. The first issue relates to the global connectedness of companies and consumers, large and small, in the marketplace. Hardly any company today is exempt from thinking about international marketing issues. Even the local shoe manufacturer which only sells domestically must understand international marketing because the customers are likely to have a range of domestically and internationally branded shoes to choose from. Consumers who disidentify with their own country might hinder the domestic manufacturer in being successful. Alternatively, ethnocentric consumers who want to support the domestic economy might help the domestic manufacturer gain a competitive advantage. Either way, it is increasingly critical that domestic, exporting, and multinational companies alike gain a thorough understanding of international marketing. Secondly, the drive towards increased connectedness is evident as a mindset both among managers of companies, as well as among customers. More and more companies adopt a co-creating philosophy in which they cooperate with their suppliers, customers and wider network to provide a value proposition. Customers also drive increased international connectedness aided by technology like Trip Advisor, Meetup, and Airbnb Consumer. Using these and many other apps and sites, customer networks are getting wider and increasingly defy borders. Thirdly, technological advances both drive and are driven by the increased connectedness. The present phase of the IT evolution is characterized by the Internet maturing. For example, companies have discovered working business plans online, and users find value in many new advances in usability. Access is relatively easy for small and large companies, as well as for consumers. However, as the Internet has matured, increasingly the deep Web and corners of the Web with shadow economies are within range of a larger part of the population. These corners have proven hard to regulate and control. The file-sharing platform Pirate Bay and the black marketplace Silk Road were both closed, only to spring into existence again. Blockchain technology led by poster boy Bitcoin is the main means of payment on Silk Road. Bitcoin can be very difficult to trace and was critical to the success of Silk Road. We must remember however that by far the majority of drugs and illegal guns are not bought with Bitcoin but dollars and other similar currency. Bitcoin and the blockchain technology promise great leaps in human productivity and wealth for consumers as well as for companies, but are still at an infant stage with many further innovations needed.
New to the eighth edition
The aim of the eighth edition is to provide a more balanced view of international marketing and export management. In the process, certain aspects have been prioritized more than in previous editions. For example, cultural perspectives of international marketing are more in focus for this edition compared to previous editions. Another example of higher priority relates to theories and models specific to international consumer behavior such as country-of-origin theory and the theories and models that focus on understanding consumers’ country biases. On the other hand, information technology is viewed as a host of tools rather than a specific set of strategies or tactics.
For this reason, information technology-related topics have, where possible, not been afforded separate sections but are integrated into the text. The changes in the international marketing landscape discussed above are reflected in both new material and in expanded coverage of topics previously emphasized.
The material in this new edition has been updated, integrated, or extensively rewritten.
Aims and objectives The aims and objectives of this eighth edition are:
1. to provide a text in international marketing which will be as applicable and valuable for small and medium-sized enterprises as it is for large international corporations;
2. to provide a text which is a balance of research insights, cases and practical examples. In doing so we also continue the reputation for being one of the most comprehensive texts in international marketing and export management.
3. to provide a text which is a trusted companion for the student and manager alike.
Target audience The eighth edition of International Marketing and Export Management is designed for anyone desiring to increase his or her knowledge of international marketing and export management. The book provides comprehensive coverage of both the basic marketing concepts and how they relate to international marketing, as well as coverage of models and theories unique to international marketing and export management. The text is particularly well suited for:
● managers who are involved with international marketing from CEOs to marketing managers and country managers. Export/international marketing practitioners interested in fresh insights in the rapidly changing field of international marketing;
● undergraduate and graduate students taking courses in export management or international marketing;
● those enrolled in management education courses and other tertiary non-university programs that cover export management and/or international marketing;
● entrepreneurs who are interested in starting export or import ventures.
Preface xv About the authors xix List of abbreviations xx Publisher’s acknowledgements xxiv 1 International marketing and exporting 1 2 Bases of international marketing 72 3 The international environment: culture, economic forces, and competition 127 4 The international environment: government, political, and legal forces 162 5 Market selection: definition and strategies 194 6 Information for international marketing decisions 243 7 Market entry strategies 271 8 In depth with entry modes 305 9 Nonexport entry modes 358 10 Product decisions 407 11 Pricing decisions 483 12 Financing and methods of payment 534 13 Promotion and marketing communication 562 14 Supply chain management and handling export orders 624
Glossary 676 Index 693
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