About This Chapter
International Product, Pricing & Marketing Strategy - Chapter Summary
This entertaining chapter is designed to help you understand why businesses vary their product, advertising, promotional and pricing strategies from country to country. Our bite-sized lessons will teach you all about global research and development (R&D), strategic pricing in international retailing, global standardization in marketing and much more. Enjoy a self-paced format that enables you to study any lessons and visit as often as you'd like. Use self-assessment quizzes and a broader exam to confirm your knowledge of the lessons. After completing this chapter, you will be able to:
- Define a product attribute and explain product attribute variation in international retailing
- List common global pricing issues and discuss strategies to overcome them
- Explain the impact regulations have on pricing strategy for international retailing
- Exhibit knowledge of the international marketing mix and 4 Ps of marketing
- Describe how global market segmentation impacts products and services
- Identify and discuss strategies for overcoming communication barriers in international marketing
- Define push and pull promotion strategies and explain how to choose between them in international retailing
- Showcase an understanding of Nike's global marketing strategies
1. Global Research & Development (R&D): Advantages & Role
This lesson provides a definition of the discipline of global research and development (R&D) and goes on to discuss its advantages and its role in the current global economy.
2. Product Attribute: Definition & Explanation
Even if you don't know it, you make buying decisions based upon product attributes. In this lesson, you'll learn what product attributes are and also learn related concepts. You'll have a chance to take a short quiz after the lesson.
3. Global Pricing Issues & Strategies
This lesson identifies common global pricing issues and strategies to overcome them. Topics include profit and cost factors, market factors and environmental factors, as well as how to manage these effectively.
4. International Marketing Mix and the 4 Ps of Marketing
In this lesson, we will discuss how to adjust the marketing mix when pursuing an international market. Additionally, the Internet's impact on the marketing mix will be discussed.
5. How Global Market Segmentation Affects Products & Services
Global market segmentation introduces new complexities when you are targeting millions of potential consumers in multiple countries. In this lesson, you will learn the best practices for performing global segmentation, using local market research and product testing.
6. Communication Barriers in International Marketing: Strategies & Examples
After reading this lesson, you'll learn how to overcome some issues that can prevent your international marketing efforts from being successful. Learn what you need to consider when designing your marketing.
7. Global Standardization in Marketing: Definition & Strategy
In this lesson we will discuss global standardization. We will look at the pros and cons as well as examples of businesses that can, and cannot, use global standardization.
8. Push & Pull Promotion Strategies: Definitions & Examples
When companies are trying to get the word out about a product, they have two different basic strategies. In this lesson, we look at the push and pull promotion strategies and examples of each.
9. Marketing Case Study: Nike's Global Marketing Strategies
Nike's success in global marketing relies on their ability to reach many audiences with tailored messages. In this lesson, you'll learn more about Nike's global marketing strategies.
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Other chapters within the Business 205: International Retailing Strategy & Operations course
- Introduction to Business Globalization
- International Market Dynamics
- Cultural Differences in Business
- International Trade Theories
- International Trade Policy
- World Trade Organizations
- Strategies for International Business
- International Market Entry Strategy
- International Production & Logistics
- International Supply Chain Management & Distribution