MKF1120 Lecture Notes - Lecture 11: Marketing Mix, Ikea, Tripadvisor
18 Jul 2018
School
Department
Course
Professor
Document Summary
Issue 1 - globalisation: the world is becoming increasingly globally linked, there"s i(cid:374)(cid:272)reased i(cid:374)ter(cid:374)atio(cid:374)al (cid:272)o(cid:373)petitio(cid:374) for (cid:373)ost i(cid:374)dustries also means that theres more chances for australian businesses to go overseas. Global or standardised strategy: looking at the world as a single market and coming up with strategies with that. Multinational or adaptation strategy: the world as a portfolio of national opportunities, thinking about what strategy is for entering different markets, adapting strategy for specific markets. (cid:862)glocal(cid:863) strategy: standardises some core elements and localises other elements, mix of both strategy, core and specific strategies. What decisions should be made when choosing a marketing mix strategy: straight extension not changing product and not changing promotion. i. e. ikea. Meatballs are always the same in all countries. Product names do not change across the globe. Manuals also do not have words, they are quite visual: communication adaptation not changing product but adapting promotion. Phone models basic model might not change but communication might.
