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Mirage of Global Markets, The: How Globalizing Companies Can Succeed as Markets Localize

By David Arnold

Published by FT Press

Published Date: Jul 31, 2003

Description

Why do even the best companies struggle to become as profitable in international markets as they are at home? Because they've fallen for the "mirage" of a truly global market. In fact, the world is comprised of hundreds of intensely local markets that are becoming more fragmented with each passing year. In The Mirage of Global Markets, David Arnold reveals why multinationals are actually losing market share--and how the world is rapidly accelerating towards "segments of one." Next, he offers you a comprehensive new blueprint for maximizing profitability in a world of local markets. You will discover why international marketing has become radically different from conventional marketing, and you will learn how to cost-effectively localize all the decisions that matter most: decisions about market entry, product mix, distribution, promotion, communication, strategy and more. Simply put, The Mirage of Global Markets shows how to globally manage the intensely local marketing programs that are now utterly crucial to your success.

Table of Contents



Preface and Acknowledgments.


1. Manage Globally, Market Locally.

The International Marketing Genie Escapes from the Bottle. The Evidence on Globalization of Markets. The (Rise and) Fall of Mass Marketing. The Managerial Challenge—Most Companies Underperform in International Markets. What Is Different about International Marketing? The Dynamics of International Competition. The Dynamics of International Competition—An Example. Summary.



2. Assessing Market Potential: Estimating Market Size and Timing of Entry.

Pitfalls in Foreign Market Assessment. A Framework for Assessing Foreign Markets. Guidelines for Market Research in Assessing International Markets. Forecasting Market Potential. First-Mover Advantage. Sources of First-Mover Advantage in Emerging Markets. Summary.



3. Strategies for Entering and Developing International Markets.

What Is Different about International Marketing? Objectives of Market Entry. Modes of Market Entry. Marketing Entry Strategies—Learning from Emerging Markets. A Framework for the Evolution of Marketing Strategies in an International Market. Summary.



4. Global Branding and Promotion.

Global Branding Trends. Benefits of Global Brands to Companies. Benefits of Global Brands to Consumers. What Is a Global Brand? Guidelines for a Global Branding Policy. Summary.



5. Selecting and Managing International Distributors.

The International Distribution Life Cycle. The Distributor Crisis. Distribution Is Different in International Markets. Guidelines for Managing the International Distributor Life Cycle. Looking Ahead—Is There a Future for Local Distributors? Summary.



6. International Customer Management and the Challenge of International Pricing.

The Emergence of Global Customer Management and Pressure for Price Harmonization. The Consequences of International Customer Management. Research into the Performance of Global Accounts. Guidelines for Selecting, Designing, and Implementing Global Account Management Programs. Implementation—Putting the Right Systems and People in Place. Reacting to International Pricing Pressure. Summary.



7. The Organizational Challenge of International Marketing.

The Evolution of International Marketing Organization Structures. The Organizational Problem—Horizontal and Vertical Processes. Two Examples of an International Marketing Organization. Network Organizations—A Template for International Marketing. Design Principles for International Marketing Organization. Small Organizations “Born Global” into International Markets. Service Organizations—Different Structures Lead to More Rapid Internationalization. Summary.



8. The Big Ideas of International Marketing.

Market Knowledge and Marketing Knowledge. Conclusion—International Marketing Management, Not International Marketing.



Index.