International Marketing

Description

The second edition of International Marketing serves as a textbook for an introductory course on international marketing.

• Provides a thorough understanding of the basic concepts of international marketing
• Includes topics such as international political and legal environment, international cultural environment, trade logistics and international shipping, and managing risks in international trade
• Includes pedagogical features such as exhibits, end-chapter questions and problems, project assignments, key terms, and a recapitulation of the topics covered
• New to this edition
• New chapters on international political and legal environment, international cultural environment, and trade logistics and international shipping
• New sections such as international logistics, India's international shipping activities, terms of payments in international transactions, types of credit according to methods of payments, availability of credit, WTO compatibility of India's trade finance and insurance schemes, ICT revolutionizes marketing of services, and India's competitiveness and ICT
• Improved explanations and coverage
• New examples
• New illustrations

About the Author(s)

Dr. Rakesh Mohan Joshi, RMJ: Indian Institute of Foreign Trade, New Delhi

Rakesh Mohan Joshi, is presently Professor, International Business and International Marketing, at Indian Institute of Foreign Trade, New Delhi. Dr Joshi has over two decades of teaching, consultancy, and training experience in international trade and marketing of commodities from developing countries and has been associated with multilateral organizations, such as the World Bank and the Asian Development Bank. He has authored numerous research papers in leading journals and is the author of International Business (OUP, 2009).

Table of Contents

International Marketing 2e-Detailed Table of Contents
Preface
PART I: DECISION TO INTERNATIONALISE
The Concept of International Marketing
Introduction
Globalization
The Concept of International Marketing
Evolutionary Process of Global Marketing
Towards GLOCAL Marketing
Adaptation: The Critical Success Factor in International Markets
Theories of International Trade
Internationalization of Indian Firms
Framework of International Marketing
Case Study: Essel Propack: The World's Largest Manufacturer of Laminated Tubes
PART II: SCANNING INTERNATIONAL MARKETING ENVIRONMENT
2. Scanning the International Economic Environment
Introduction
International Economic Institutions
Conceptual Framework of International Economic Integration
Growth of Regional Trading Agreements (RTAs)
India's Participation in RTAs
RTA's under the WTO: The Multilateral Trading System
Case Study:Emerging Marketing Opportunities and BRICS
3. World Trade Organization: International Marketing Implications
Introduction
From GATT to WTO
Functions and structure of WTO
Principles of Multilateral Trading System under the WTO
WTO Agreements: an Overview
Standards and Safety Measures for International Markets
Settlement of International Trade Disputes
Effect of China's Entry into WTO on India
The Implications of WTO on International Marketing
Case Study:Darjeeling Tea: Global Infringement and WTO
4. International Political and Legal Environment
Introduction
International political environment
International Political Systems and Ideologies
Types of government: political systems
Types of government: structure
Commonwealth countries
Monarchies
Theocracy
Trade embargos and sanction
Bureaucracy
Terrorism, crime, and violence
International legal environment
Judicial independence and efficiency
International legal systems
Principles of international law
United Nations Commission of International Trade Law (UNCITRAL)
Case Study: Homologation of "Motor vehicles" in international markets
5. International Cultural Environment
Introduction
The concept of culture
Cultural globalization
Comparison of cross cultural behaviour
Cultural orientation in international marketing
Self-reference criterion and ethnocentrism: Major obstacles in international marketing decisions
Case Study: Cross-cultural misapprehensions over the Swastika in the West
PART III: MARKET IDENTIFICATION, EVALUATION AND SELECTION
6. International Marketing Research
Introduction
International Marketing Research
Emic vs Etic Dilemma in International Marketing Research
International Marketing Research and Human Judgment
7. Exploring International Trade Opportunities
Introduction
Background of International Trade
Trends in World Trade
Composition of World Trade
Direction of World Trade
World Trade Outlook
An Overview of India's Foreign Trade
India's Growth of Exports in International Markets vis-à-vis
Select Asian Countries
Identifying Opportunities in International Markets
Case Study: Emerging opportunities in international dairy trade and India 8. Identification, segmentation, and targeting of international markets
Introduction
Identification of International Markets
Segmentation of International Markets
Selection of International Markets
Tools for International Market Analysis
Case Study: Identifying International Marketing Opportunities in Medical Services
PART IV: Entry Mode Decisions
9. Entering International Markets
Introduction
The Concept of International Market Entry
The Modes of International Market Entry
Factors Affecting the Selection of Entry Mode
Choosing the Right International Market Entry Mix
PART V: MARKETING MIX DECISIONS:
10. Product Strategy for International Markets
Introduction
Standardization vs. Adaptation in International Markets
Voluntary factors influencing Product Adaptation in International Markets
Trade-off Strategy between Product Standardization and Adaptation
Product Quality Decisions for International Markets
Packaging and Labeling for International Markets
Product Launch for International Markets
Product Life Cycle in International Markets
International Product Strategy
Product-Promotion Strategies for International Markets
11. Building Brands in International Markets
Introduction
Types of brands
Benefits of Branding
Selecting Brand Name for International Marketing
Brand Image
Brand Equity
Brand Identity
Brand Essence
Brand Positioning
Brand Revitalization
Strategies for Building Brands
Strategy for Building Global Brands
Life Cycle Concept and Product Categories
Life Cycle Concept and Brand
International Branding Strategy
Case Study: Building Formidable Indian Brands in Diamond Jewellery
12. Pricing Decisions for International Markets
Introduction
Pricing Decisions
Pricing Approaches for International Markets
Factors Influencing Pricing Decisions in International Markets
Terms of Delivery in International Transactions
Dumping
Counter Trade
Transfer Pricing in International Markets
Grey Marketing
Case Study: Pricing medicines: profits, patents, and poor customers
13. International Distribution
Introduction
Channels of International Distribution
Selecting Channels of International Distribution
Types of International Distribution Channels
Indirect Channels
Direct Channels
Market Intermediaries
Structure of Distribution Channels in International Markets
International Retailing
International Franchising
International Retailing and Private Labels
Case Study: Channels of International Distribution for Floriculture
14. Communication Decisions for International Markets
Introduction
Consumer Response Hierarchy Models
Process of International Marketing Communication
Marketing Communication Strategies
Tools for International Marketing Communication
Factors Influencing International Communication Decisions
Framework for International Product-Promotion Strategies
PART VI: EXPORT IMPORT MANAGEMENT
15. Institutional Infrastructure for Export Promotion
The Concept of Export Promotion
Role of Export Promotion Institutions in International Marketing
Institutional set-up for Export Promotion in India
Indian Government's Trade Representative Abroad
States' Involvement In Promoting Exports
Export Promotion: Need for Strategic Reorientation
16. Framework of International Trade Policy
Introduction
India's Export-Import (Exim) Policy
Import Prohibitions and Restrictions
Export Prohibitions and Restrictions
Export Promotion Schemes and Incentives
Creation of Enclaves for Export Production and Promotion
Inland Container Depots (ICD) and Container Freight Stations (CFS)
Export-Oriented Units (EOU), Software Technology Parks (STP), and Electronic Hardware Technology Parks (EHTP)
Export Houses/ Trading Houses/ Star Trading Houses/ Superstar Trading Houses
Market Development Assistance (MDA)
Market Access Initiative (MAI)
India Brand Equity Fund (IBEF Trust)
Policy Initiatives and Incentives by the State Governments
WTO and India's Export Promotion Measures
17. Export Procedure and Documentation
Introduction
Export Documentation
Commercial Documents
Regulatory Documents
Procedure for Export-Import
Electronic Processing of Export Documents
Case Study: Examining a letter of credit
18. Trade Logistics and International Shipping
International Logistics
Logistics and the Value Chain Concept
Managing International Logistics
India's International Shipping Activities
19. Modes of Payment and International Trade Finance
Terms of Payment in International Transactions
Types of Credit According to Methods of Payments
Availability of Credit
Introduction
Export Finance
Export Credit in Foreign Currency
Factoring
Forfaiting
Financing to Overseas Importers
Case Study: Exim Bank's credit to facilitate imports from India
20. Managing Risks in International Trade
Risks in International Transactions
Measuring International Business Risks
Managing Risks in International Trade
Principal Credit Insurance Policies
WTO Compatibility of India's Trade Finance and Insurance Schemes
PART VII: IMPLEMENTATION, REVIEW AND CONSOLIDATION OF INTERNATIONAL MARKETING OPERATIONS
21. Global e-Marketing
Introduction
Conceptual framework for e-marketing
E-marketing technology and environment
Prerequisites for effective e-marketing transactions
Global e-marketing
Global e-marketing of services
E-marketing models
Alternative e-marketing strategies
E-marketing enabled process transformations and challenges
Impact of ICT on new products and services
Impact of ICT on new products and services
Emergence of reverse marketing
Policy framework and ICT laws for global e-marketing
22. Global e-Marketing
Introduction
Emerging issues in international marketing
Ethical issues in international marketing
Growing significance of emerging economies in international marketing
India: emerges at the global stage
Annexures