Economics of International Marketing

Economics of International Marketing Gibbie Yapsen Handadilla (DBM)Student ID : 1409012060 Brian Junaldo Honoris (DBM)Student ID : 1409012075 Objective We make this report in order to do a deep research on global marketing and understanding on the importance of international marketing Acknowledgement We would like to thank EASB for letting us to write this report and also Ms. Roszana for guiding and teaching us through this module and this report. Without their help, we may not reach this point. Introduction Global marketing refers to marketing activities coordinated and integrated across multiple country markets. (Jonny K. Johansson 2000) International marketing often used in some big companies. International marketing itself has big impact on world’s economy. In this assessment, our aim is to critically analyze on economics of international marketing. Questions to be answered There are 4 (four) questions that we will discuss on this report Evolution to International Marketing Elements of International Marketing Advantages and Disadvantages of International Marketing Economics of International Trade Evolution to International Marketing Because of today’s globalization, international marketing has become really popular. There are many changes or we can say evolution within companies around the world and also in international marketing. There are some stages in international marketing for those who are globalizing. Domestic Marketing As we can see from the word domestic which means inside a particular country. At this stage, companies’ marketing scope is only within one country. Usually, companies at this stage are only influencing local markets. They usually seldom to pay attention in the world’s market change or other foreign market competition. International Marketing From the domestic stage, evolve to the next stage which is international marketing. International marketing is almost the same with the domestic marketing. At this stage, companies have their factory to manufacture product in their own country but they focus their marketing into some particular countries. For example, FN beverage manufacturer from Singapore, the manufacturing happens in Singapore but their market isn’t only in Singapore but in other countries such as Indonesia, Malaysia, Thailand, etc. Global Marketing There are only few companies which get to this level. At this stage, the marketing scope is much bigger than international marketing stage. The reason is that in global marketing, companies have their manufacturers spread all around the world, that’s why it is called â€Å"global†. Elements of International Marketing The elements of global marketing is what they called marketing mix. Marketing mix is about 4 P’s, product, price, place, and promotion. The next following paragraphs are about 4 P’s and the definition. First of all, product is usually what comes in mind to companies. Without product, the others are not going to follow. Companies are needed to make products which satisfy the customers’ needs. For example, many beverage companies are competing in satisfying their customers by producing new products which their customers’ needed. Secondly, pricing is needed as the second 4 P’s. Price is always affected by the demands in every market. With good pricing, the attraction from the products will attract customers. That’s why pricing is one important element in international marketing. Next, locating the right place to sell the products is so much important. One cannot sell something expensive in a poor country. So one needs to locate the right place to sell the right product as well. By evaluating the customers demand of a particular place then place the product there. Finally, promotion is the last thing to make it succeed. After we manufacture the product, give the right price, place it in the right market, promoting the product is needed to let people know that one already starting to sell the product. Of course, with the correct promotion will get you bigger attraction from the customers. To sum up, there are 4 elements of international marketing and they are product, price, place, and promotion. Each of the elements support the others. So, in order to succeed in international marketing, these elements are needed as the base of it. Advantages and Disadvantages of International Marketing Advantages International marketing is the process of overseas advertising of the products that a company sells. International marketing provides a host of benefits to a business, from helping to broaden the customer base to improving the reputation of the brand. Understanding these advantages can help businesses of all sizes to plan their international sales strategies and to focus their customer service efforts. The first advantage of international marketing will be brand reputation. By doing international marketing, a company can get brand reputation which depends on the company’s product. If the company can sell good products around the world, the brand reputation will arise, and people will recognize it more. The next one will be market expansion. It is the most obvious advantage because company who does international marketing will expand their market scope from local to international. With market expansion, company may know well about other people demands and can evaluate other competitors so they can improve the products and learn more. The last one is global networking. Just like before, by going to the global market, company can know new customers and new demands which can be used to improve the products. Disadvantages The first one will be the cultures. Different cultures can be a problem for some local companies which are new to global markets. They need to adjust the culture with others. For example, instant food company. They cannot sell pork flavored-food to host country which mainly are Muslim. The next disadvantage is the government law. For some countries which have a strict law, companies may find difficulties when trying to sell their products there. Some country banned Marijuana, but some other country allow Marijuana to be in market. That will be one example for companies to sell marijuana in some strict countries. Lastly is marketing mix. Company might have to develop a totally different marketing mix for its product in host country than in home country which will incur cost. Which means in home country will incur cost for host country. Like host country will get tax for import goods from home country. Economics of International Trade International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history, its economic, social, and political importance has been on the rise in recent centuries. It is the presupposition of international trade that a sufficient level of geopolitical peace and stability are prevailing in order to allow for the peaceful exchange of trade and commerce to take place between nations. Trade is not a modern invention. International trade today is not qualitatively different from the exchange of goods and services that people have been conducting for thousands of years. Before the widespread adoption of currency, people exchanged goods and some services through bartering or trading a certain quantity of one good or service for another good or service with the same estimated value. With the emergence of money, the exchange of goods and services became more efficient. Developments in transportation and communication revolutionized economic exchange, not only increasing its volume but also widening its geographical range. As trade expanded in geographic scope, diversity, and quantity, the channels of trade also became more complex. International trade today differs from economic exchange conducted centuries ago in its speed, volume, geographic reach, complexity, and diversity. However, it has been going on for centuries, and its fundamental character–the exchange of goods and services for other goods and services or for money remains unchanged. Recommendation In doing international marketing, we must care about the elements of the international marketing first, especially for business managers or professionals. Learn about the pros and cons so that one can make decision rightfully. Conclusion To sum up everything, there are a lot of points in this report. There has been a lot of evolution through international marketing. There are also some important elements in international marketing as well as the advantages and disadvantages that we may get from international marketing. Therefore, as an international business professional, we have to examine everything first and then we can make a good decision. References http://en.wikipedia.org/wiki/Global_marketing http://www.scribd.com/doc/86216521/INTERNATIONAL-MARKETING-EVOLUTION-TO-GLOBAL-AND-INTERNATIONAL-MARKETING#scribd http://www.indiastudychannel.com http://www.marketingteacher.com/what-is-international-marketing/ http://www.marketing-schools.org/types-of-marketing/international-marketing.html http://toolkit.smallbiz.nsw.gov.au/part/21/103/473 http://smallbusiness.chron.com/advantages-marketing-internationally-61158.html http://www.translatemedia.com/international-marketing http://cindyking.biz/4-success-elements-for-international-business-development/ http://www.referenceforbusiness.com/small/Inc-Mail/International-Marketing.html Declaration By signing this declaration, the group has agreed to the appraisal of this report ________________ (Name / Signature) ________________ (Name / Signature) Page 1 | 15

Kodak and Digital Revolution Essay

In 1976 Kodak controlled 90% of the film market and 85% of camera sales in the United States. By 1992 the share of film market decreased by 5%. In 1991 they launched the first professional digital camera. In 1998 they spent $1. 2 billion to two joint ventures with the Chinese government and by 1999 became number two in digital cameras in the United States with a 27% market share. In 2001it launched â€Å"Where it all clicks† theme to stimulate digital imaging and in 2002 launched the first mass-market product for digital film processing. By 2003 they controlled most photofinishing transaction in the United States with 15% unprofitable digital camera market. Digital imaging was a disruptive technology that was emerging in early 80’s and Kodak got blind sighted by its extreme focus on existing customers and their needs. They followed a customer focus strategy instead of taking digital imaging as a disruptive innovation. Their focus was to provide products that its existing clients want in a cost effective manner. Kodak’s strategy for digital imaging has been way off and its first digital product, the â€Å"Photo CD† which was a failure. It couldn’t leverage upon world’s first electronic image sensor that they launched earlier that was widely used by computer industry worldwide. They used all strategies to the disposal but its timing was way off. They used Radical to incremental innovation an example is their digital photography compared to Sony’s Then their strategy shifted from convergence of digital and film based imaging to selling hardware such as digital cameras and printers by alliancing with computer and electronic industry. This strategy also failed as competition was too fierce by 1995 and profit margins shrunk. Then strategy was changed to picture business and network consumables with at least 50% market share. These strategies were based to the changing market needs and competition especially from Fuji films Kodak is a showcase for failing to innovate; they missed the digital revolution because they were focused on protecting its core business, traditional photographic film. The reality is different, though. Kodak was in fact one of the first companies to have worked on digital imaging it’s not that they were ignoring the digital revolution! Today, Kodak is still leading digital imaging, as the company holds many patents in this field that are used in products such as HP printers. The painful Kodak factory closures that one can see nowadays are nothing but the price to pay to transition from one era to the other, from the era when Kodak was a chemist to an era when it is a software company. For all its mistakes, Kodak is doing what few companies have been able to do. Lessons Learned No doubt, Kodak was victim of the innovator’s dilemma. The most immediate takeaway from the fall of Kodak is clear: Don’t be afraid to cannibalize your own business in the name of progress. But Kodak’s inability to make any of its products stand out over the last decade is demonstrative of an overall reluctance to innovate.

The Upside to College Argument Essay Topics

The Upside to College Argument Essay Topics In this kind of situation, it's more convenient to discover ready-made essays and use them as an example. You don't need to acquire super technical with legal argumentative essays, but make sure to do your homework on what the recent laws about your preferred topic actually say. When it has to do with writing an argumentative essay, the main issue to do is to select a topic and an argument that you may really get behind. Secondly, you're able to now visit the body of your essay. To begin with, you've got to consider about the contents of your argumentative exposition. Locating good essay topics which you could discuss effectively and create powerful argumentative essays is a tough work. Typically, the teachers or professors assign the topics by themselves. Arguments always happen in a particular context. Facts, in the long run, will always win out against how folks are feeling at a specific moment. Talk about what your stand on the problem is in a number of the related points that arrive with this. It's a fact that recent college graduates are fighting to locate jobs. The purpose is to satisfy your intended audience, whether or not it's your teacher or classmates. Below, it is possible to also locate a list of suggestions for your very own argumentative paper that's devoted to college education and other facets of college life. In case the professor did not offer you the topic, think about doing it. However soon you're expected to file your college argumentative essay for grading, we'll write the paper for you. Since you may see, ther e's a wide variety of topics available. It is possible to observe a list of 25 topics you can pick from the one which best fits your assignment. Be certain to ask the staff for any assistance that you may need in locating the vital papers. If you're not limited with fields you may use for your argumentative essay chose anything you want. Bear in mind that the amount of your essay is contingent on the assignment offered to you. Your essay will be nice and interesting only as long as you're interested in the issue. An argumentative essay is a certain kind of academic writing. You'll certainly lose the argument if nobody would like to read your essay. Most conclusions are just a paragraph in length as the conclusion is anticipated to be an overview of the whole essay. You are unable to defend any point without a fantastic understanding of your subject. Emphasize your position is the very best by summarizing the key points of your argument. The paragraph should permit the reader to take into account the author's viewpoint seriously. Remember an argumentative essay is based more on facts instead of emotion. Regardless of the topic that you're exploring in your argumentative essay, following principles of the structure ought to be maintained to have a decent level. The nature of the argumentative essay is in your capacity to select trustworthy facts that may confirm your viewpoint. With which you are able to present two possible arguments for the exact same issue. The topic has to be based on a great evidence base. Explain why the issue is critical. It is that everyone's interpretation of what makes a good society is different. Ruthless College Argument Essay Topics Strategies Exploited Droz If the money doesn't serve you, it is going to rule over you. There are many techniques that could help you to select a topic. You should be aware that lots of online communities are available which permit you to study the subject of your selection. In choosing your topic, it's frequently a good notion to start out with a subject which you already have some familiarity with. When you're picking your topic, remember that it's much simpler to write about something which you presently have interest ineven in case you don't know a great deal about it. Be clever pick a topic that you're good in and need to find out more about. When you are requested to decide on a great topic for your argument, start with something you're acquainted with. The Little-Known Secrets to College Argument Essay Topics You should know what makes them tick and use facts they'd understand to convince them that you're right. At the conclusion of these list, you will discover links to a range of argumentative paragraphs and essays. You will readily find a subject for your upcoming article that needs some research. You'll have to back up your viewpoint with well-researched facts and data too.

“Anne of Green Gables” The Most Adapted Book Ever

There is a short list of books that continue to be living, breathing parts of pop culture long after their initial publication; where most books have a pretty short â€Å"shelf life† as topics of conversation, a handful find new audiences year in and year out. Even in this elite group of literary works some are more famous than others — everyone knows that Sherlock Holmes or Alice in Wonderland continue to capture the imagination. But some works become so commonly adapted and discussed they become almost invisible — like Anne of Green Gables. That changed in 2017 when Netflix presented an all-new adaptation of the novels as Anne with an E. This modern interpretation of the beloved tale dug into the implied darkness of the story and then dug in further. As opposed to almost every other adaptation of the books, Netflix went with an â€Å"edgy† approach to the story of the orphan Anne Shirley and her adventures on Prince Edward Island that had long-time fans (and especially fans of PBS’ sunny 1980s version) up in arms. Endless hot takes appeared condemning or defending the approach. Of course, people only have hot takes and fierce arguments about literature that remains vital and exciting; the sleepy classics we read out of obligation or curiosity don’t inspire a lot of argument. The fact that we’re still discussing Anne of Green Gables in the 21st century is a sign of just how powerful and beloved the story is — and a reminder of just how often the books have been adapted into film, television, and other mediums. In fact, there have been nearly 40 adaptations of the novel so far, and as Netflix’s version shows, there is very likely to be plenty more as new generations and new artists vie to put their stamp on this classic story. That means Anne of Green Gables has a chance at being the most-adapted book of all time. In fact, it probably is already — while there have been hundreds of Sherlock Holmes films and TV series, those are adapted from all the Holmes stories, not just a single novel. What’s the secret? Why is a novel from 1908 about a spirited orphan girl who arrives at a farm by mistake (because her adoptive parents wanted a boy, not a girl) and makes a life constantly being adapted? The Universal Story Unlike many stories written more than a century ago, Anne of Green Gables deals with issues that feel incredibly modern. Anne is an orphan who has bounced amongst foster homes and orphanages her whole life, and comes to a place where she is initially not wanted. That’s a theme that kids all over the world find compelling — who hasn’t felt unwanted, like an outsider? Anne herself is a proto-feminist. Although it’s unlikely that Lucy Maud Montgomery intended this, the fact is Anne is an intelligent young woman who excels at everything she does and takes no guff from the men or boys around her. She fights back fiercely against any disrespect or hint that she’s not capable, making her a shining example for young women of each successive generation. It’s remarkable, really, considering the book was written more than a decade before women could vote in the U.S. The Youth Market When Montgomery wrote the original novel, there was no concept of a â€Å"young adult† audience, and she never intended the book to be a children’s novel. Over time that’s how it was routinely categorized, of course, which makes sense; it is a story about a young girl literally coming of age. In many ways, however, it was a Young Adult novel before the concept existed, a story that resonates with kids, teenagers, and young adults alike. That market is only growing. As the hunger for intelligent, well-written Young Adult fare grows, more and more people are discovering or re-discovering Anne of Green Gables and finding to their surprise that you couldn’t design a better fit for the modern market. The Formula When Montgomery wrote Anne of Green Gables, stories about orphans were fairly common, and stories about red-haired orphan girls especially so. It’s more or less totally forgotten today, but in the late 19th and early 20th centuries there was a whole subgenre of orphan-focused literature, and there was a bit of a formula to them: The girls were always red-headed, they were always abused prior to coming to their new life, they were always acquired by their adoptive families in order to do work, and they ultimately proved themselves by saving their families from some terrible catastrophe. Completely forgotten examples include Lucy Ann by R.L. Harbour and Charity Ann by Mary Ann Maitland. In other words, when Montgomery wrote her novel, she was working from and refining a formula that had been perfected long before. The refinements she brought to the story are what elevated it from just another story about an orphan girl, but the framework meant she was able to perfect the story instead of putting all her efforts into creating something from scratch. All the adaptations over the years are arguably a continuation of that process. The Subtext The reason Netflix’s new adaptation has gotten so much attention is, in part, the fact that it embraces the dark subtext of the novel — that Anne comes to Prince Edward Island from a past filled with physical and emotional abuse. This was often a staple of the formula mentioned above and is implied by Montgomery, but Netflix went all in and made one of the darkest adaptations of the novel. This darkness, however, is part of the story’s appeal — readers pick up the clues and even if they don’t imagine the worst, it adds depths to a story that could have been simply feel-good. That depth is crucial. Even in adaptations that don’t delve into it, it adds a bit of heft to the story, a second level that catches the imagination. A flatter, simpler story wouldn’t be nearly as evergreen. The Bittersweet That darkness feeds into the other reason the story continues to fascinate and entertain: its bittersweet nature. Anne of Green Gables is a story that combines joy and triumph with sadness and defeat. Anne is very self-critical while being ebullient and intelligent. She comes from pain and suffering and has to fight for her place on the island and with her adoptive family. And in the end, she doesn’t get a simple happy ending — she has to make hard choices even as she enters adulthood. The ending of the first novel sees Anne making the right decision even if it isn’t the decision that will bring her the most happiness. That emotional complexity is, in a nutshell, why people never get tired of this story. Anne of Green Gables will almost certainly end up one of — if not the —  most adapted novel of all time. Its timeless nature and simple charm are a guarantee.