5. Tue 9/3/13 Global Product & Pricing Strategy

• ​SKIM: R11-Prahalad & Lieberthal The End of Corporate Imperialism

• Read Link SM5-RANKED: The 30 Most Creative People In Social Media Marketing

• Team 2: CP Marks & Spencer Enters China presentation

• ISSUES FOR CLASS DISCUSSION/PRESENTATION

  •  Conduct a CAGE analysis, comparing the Chinese market to the U.K. market

  • Using Hofstede's Model, identify the cultural differences between British and Chinese consumers. What are the largest differences? Why are these differences important to understand when marketing internationally?

  •  Using the product-communication strategy matrix, identify the best strategy for the Chinese market

  • In terms of standardization versus adaptation dilemma, what variables are important for M&S to consider in the Chinese market

  • What considerations of style & design, solor &product quality did M&S overlook. Why are these elements immportant to study when expanding into global markets

  • What factors influence international pricing decisions

  • Which is the better method for M&S to purse in China - cost-based marketing or market-based pricing

  • What trade-offs are necessary for M&S marketers to consider when deciding whether to standardize or localize its global advertising & communication strategy ?

• Key Learning Objectives

  • To introduce students to the evaluation of global markets using various models and tools

  • To enable students to develop multidisciplinary decision-making tools

  • To have students explore and develop marketing mix policies, to conceptualize qualitative data, and to develope solutions to address distances between countries, particularly cultural distances.