Domestic Marketing And International Marketing

Domestic Marketing And International Marketing The report has been prepared to highlight whether International marketing is really no different from the study of domestic marketing. It comprises the insight of domestic marketing, international marketing, and evolution of global marketing. The objective of this report is to explore various differences between International and domestic marketing. It focuses on various issues that need to be overcome before moving from domestic marketing to international marketing. This report illustrates various examples which moved from domestic to global marketing and experienced remarkable increase in the revenue. This report highlights various ethical problems faced in International Marketing. TABLE OF CONTENTS Topics Page No. Introductionà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦4 The evolution of global marketingà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.4-6 Domestic Marketingà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..6-7 International Marketingà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.7-9 Domestic vs. Internationalà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.9-11 Empirical Examplesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦12-13 Biggest International Marketing Mistakesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.13 Ethical Problems in International Marketingà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.13-15 Conclusion à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦15 Reference and bibliographyà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦16 INTRODUCTION The marketing aspect is as important as other business aspect in every business engagement. The marketing aspect deals as how to make the product being introduce and sell in the market. There are many kinds of organizations created such as the domestic business, multinational business, international business, etc. The marketing strategies of each kind of business depend on the nature of the business involvement. Therefore, the Domestic and International markets should have separate marketing strategy. The differences of the two markets are obvious from the point of their market host and demand domain. The evolution of global marketing The long held tenants of marketing are customer value, competitive advantage and focus. Organizations hence studied the market, developed the product which satisfied the customer. They followed correct marketing mix to satisfy its own objectives. However this strategy proved to be very narrow as time elapsed and hence evolved Strategic Marketing. The focus was shifted from knowing only customer requirements, to knowing the customer in a context which includes the competition, government policy and regulations, and the broader economic, social and political macro forces that shape the evolution of markets. In global marketing term this means forging alliances (relationships) or developing networks, which works closely with home country government officials and industry competitors to gain access to a target market. The marketing objective has changed from satisfying organizational objectives to one of stakeholder benefits including employees, society, government and so on. Table 1.1 outlines a typology of terms which describes the characteristics of companies at different stages in the process of evolving from domestic to global enterprises. Table 1.1 Stages of domestic to global evolution Management emphasis Stage one Domestic Stage two International Stage three Multinational Stage four Global Focus Domestic Ethnocentric Polycentric Geocentric Marketing strategy Domestic Extension Adaption Extension Structure Domestic International Worldwide area Adaption creation matrix/mixed Management style Domestic Centralized top down Decentralized bottom up Integrated Manufacturing stance Mainly domestic Mainly domestic Host country Lowest cost worldwide Investment policy Domestic Domestic used worldwide Mainly in each host country Cross subsidization Performance evaluation Domestic market share Against home country market share Each host country market share Worldwide In stage one domestic marketing was in focus, with all activity concentrated in the home market. Organizations like milk marketing, solely domestically oriented organizations. In stage two home marketing is focused, but with exports (ethnocentric). Organization probably believes only in home values, but creates an export division. In stage three stage two organizations which realize that they must adapt their marketing mixes to overseas operations. The focus of theses organizations switches to multinational (polycentric) and adaption becomes paramount. In stage four global organizations which create value by extending products and programs and focus on serving emerging global markets (geocentric). This involves in recognizing the markets around the world which consist of similarities and differences and that it is possible to develop a global strategy based on similarities to obtain scale economies, but also recognizes and responds to cost effective differences. The strategies are a combination of extension, adaptation and creation. Domestic Marketing A domestic market is a financial market and trades are aimed toward a single market. A domestic market is also referred to as domestic trading. In domestic trading, organization faces only one set of competitive, economic, and market issues and essentially must deal with only one set of customers, although the company may have several segments in a market. Following are four guiding principles that governs the marketing strategy Knowledge Based Promotion The marketing platform is to deliver the huge benefit of products through ethically designed promotional strategies. The product will be promoted in the marketplace with a message that is focused, competitively advantageous, relevant and evocative to target audience segments, clinically supportable, and sustainable over time. Building Loyalty The marketers ensure that their product is always superseded by any other alternatives and it doesnt go out of fashion. Brand loyalty is integral part in adding value to their business. Parameters Not Formulas There is no set formula to devise the marketing and sales strategies and every product is different and respectively faces its own unique confluence of factors influencing its performance over time. The parameters governing should be with respect to sales and market share. Each of these parameters should be reviewed frequently through external market conditions, other corporate priorities, pricing changes, and new or revived competitors. Meeting the Genuine need The organization should aim to meet customer needs recognized by them. Japanese domestic market The term Japanese Domestic Market (JDM) is used by companies in Japan to refer to the services and product they offer in local market, as opposed to the international, non-Japanese market. The automotive hobbyist uses this term most commonly to refer Japanese-brand automobiles and parts designed and constructed to conform to Japanese vehicle and equipment regulations and to suit Japanese market preferences. Vehicles made in JDM migrate to other markets through ordinary commerce and the grey market. Vehicles made in JDM often differ in features and equipment from vehicles sold elsewhere. For example, Honda to sell its product worldwide has produced different versions of the B18C 1, B16A and K20A engines. This was done to suite varying emission regulations laws followed in different countries. Vehicles built based on JDM specifications will have stiffer suspensions and improved throttle response over vehicles built for different global markets, due to differing driving styles and different road types. For example, the USA features long highways and a smoother ride is always preferable, whereas Japans features short and twisty roads, where a stiffer suspension is desired for improved handling capability. For the US and European market versions, some features may be removed in order to meet certain price level, conventional rear suspension can be used instead of a double wishbone suspension and electronic devices like Active Yaw Control. Furthermore, engine power of JDM sports cars may be removed to meet stricter emission standards in other countries. The JDM headlamps would be a major concern when it comes to safety in countries where traffic flows along the right side of the road, because JDM headlamps are engineered for use on the left side of the road. International Marketing International marketing is a kind of marketing carried out by organizations overseas or across national borderlines. The strategy used is an extension of the techniques used in the home country of a firm. According to the American Marketing Association (AMA) international marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Global Marketing Strategy gives a practical managerial orientation to international marketing in complex, rapidly changing global business environment. The marketing strategy focuses on customer analysis, competitor analysis and company analysis. Once marketing strategies are established the focus is done for segmenting markets, targeting markets and market positioning in the international arena. Following are the factors that need to be considered before moving abroad Demographic and physical environment should be assessed in categories like population size, growth, distribution channels, etc. Economic environment should be reviewed that goes around with the income and expenditure activities, inflation, currency stability, etc. that will contribute for the new service or products success. Social and cultural environment should be assessed that encompasses a wide range of anticipations and assumptions with regards to the culture and social differences. Legal environment should be considered which includes the limitations on trade and tariffs, proper documentation and import regulations. Political environment should be reviewed in which the governments system is included. In terms of strategies, the international market is truly different and more complicated than domestic markets. Individualized Marketing Strategy: This strategy is followed by companies that conduct international business in several nations and is often utilized by smaller businesses involved in only one or two foreign markets. In this strategy, political, social, and economic factors are important components of the marketing process. Global Marketing Strategy This strategy ignores differences between nations and based on the notion that consumers around the world are growing more and more similar and a standardized product and marketing mix can achieve enormous economies, especially in advertising, packing, and distribution because they would not be changed. Domestic Marketing vs. International Marketing Global marketing decisions requires months of research. They require high degree of planning and formation of internal strategies, factors affecting strategies are target audiences, spending and profit margins. Global marketing is more complex, and must take into consideration numerous factors such as Language and translation: Some countries share similar language but every country has nuances of language that should be considered before marketing globally. The marketing pieces should be shared with native speakers in the countries targeted for marketing, even if the language is the same as domestic market. For example Spanish is a language shared by millions worldwide, yet the Spanish spoken in Mexico differs from the Spanish spoken in Spain. Cultural considerations: Cultures vary worldwide and marketing pieces must reflect cultural nuances accordingly. It is wise to examine cultural context before to save money later by helping you avoid costly advertising and marketing mistakes. For Example In the United States, advertisements depicting scantily clad models sell everything from shaving products to soft drinks but in more conservative cultures, such advertisements would be offensive or even banned. Price and payment methods: Online sellers should facilitate currency converters or payment processing systems that accept multiple currencies, sellers must be aware of pricing sensitivities by country, by product and by market. Before launching the product into global market, competition and competitive pricing models should be investigated. The price should be tagged depending on whether product is targeted for domestic or global market. Marketing methods and the media mix: Marketing methods such as websites and print advertisements are used in most countries while others countries prefer to have direct mails. Countries with large rural populations, such as China and India, may not have as robust a mail service as industrialized countries so they may rely more heavily on radio or television rather than printed messages to share new and information. Before investing in any media we need to understand audience being targeted. Distribution methods and shipping concerns: Each country has its own restrictions and law as to what goods can be imported. Costs, time delay and country restrictions must be accounted for worldwide shipping. Every organization must comply with all importation laws, and if required they should be willing to invest the time into learning rules and regulations concerning exports and imports. While planning is an important aspect of any successful campaign, there are certain considerations which are vital for successful launch of a product in domestic market and global market. Table 1.2 lists the instances required to be considered before marketing. Table 1.2 Considerations vital for successful launch of a product Domestic Planning International Planning Single language and nationality Multilingual/multinational/multicultural factors Relatively homogeneous market Fragmented and diverse markets Data available, usually accurate and collection easy Data collection a large task requiring significantly higher budgets and personnel allocation Political factors relatively unimportant Political factors frequently vital Relative freedom from government interference Involvement in national economic plans; government influences business decisions Individual corporation has little effect on environment Gravitational distortion by large companies Chauvinism helps Chauvinism hinders Relatively stable business environment Multiple environments, many of which are highly unstable (but may be highly profitable) Domestic Planning International Planning Uniform financial climate Variety of financial climates ranging from over-conservative to wildly inflationary Single currency Currencies differing in stability and real value Business rules of the game mature and understood Rules diverse, changeable and unclear Solid Global Marketing decisions involve months of research with high degree of planning to achieve companys ultimate goals. Advanced planning gives a number of advantages Helps coordinate activities Helps prepare for emergencies Gives activity continuity Integrates functions and activities Helps in a continuous review of operations Following are the common differences Domestic Marketing Domestic marketing is marketing aimed at a single market. This single market is the firms domestic market. The firm faces only one set of competitive, economic and market issues. International Marketing International marketing goes beyond exporting and calls for direct involvement in the local marketing environment within a given country. Understanding different cultural, economic and political environments becomes necessary for success in international markets. Empirical Examples The domestic businesses samples probably rise in the range of local suppliers whereas the internationally engaged business strives to keep their business growing such as the Nike, automobile businesss, and even beauty products. QVC shopping leader The QVC shopping leader started as a shopping channel. The show hosts could only demonstrate a limited number of products per day. In 1996, QVC thought of expanding its business by getting into an Internet business where customers could browse online at their iQVC web site for a much larger selection of products. The QVC marketed majority of its product online which resulted in quantum leap in QVC e-business, spurring development of a technologically elegant system of warehousing and shipping the items as well. iQVC noticed a profit only after three months, made $97 million in profits by the year 2000, and has enjoyed ever-increasing sales each year since then. McDonalds Strategy McDonald has succeeded in growing as a consequence of its strategic choices. The analysis of the external and internal environment of the company shows, McDonalds strengths are more significant than its weaknesses. The primary strength is its brand, which is recognized all over the world, and its position at the head of its industry makes it a force to be reckoned with. The ability to determine what consumers want and need and adapt to new requirement is a major strength of company. This is the one that requires McDonalds to keep reinventing itself. Previously McDonalds used to close in the evenings just after dinner, but now almost 40% of McDonalds restaurants stay open round the clock, this is done to focus on between-meal and late-night options such as snack foods and fruit smoothies. On top of this McDonalds keeps on generating new products more aggressively than in the past. The new selections are tried out in one market for several weeks to see how the sales, costs, and margins grow and how easy they are to prepare by the companys constantly-changing staff. McDonalds strategies add on to companys strengths, such as the delivery service. It offers services in crowded cities such as Shanghai, this way company not only make more sales by catering to the traffic-challenged, time-constrained, and lazy, it also saves itself some money at the same time, because delivered meals require no table clean-up at the restaurant. Biggest International Marketing Mistakes Few companies faced huge losses due to insufficient planning and research done before launching the product in global market. In South East Asia Pepsi Cola lost it dominant market share when they changed the color of its vending machines and coolers from deep Regal blue to light Ice blue as Light blue is associated with death and mourning in SE Asia. Few years back when Pepsi started marketing products in China, they translated their slogan, Pepsi Brings You Back to Life pretty literally. The literal meaning of slogan in Chinese was, Pepsi Brings Your Ancestors Back from the Grave. During Chevrolets attempt to launch the Nova proved a mistake as Spanish translation of it was Doesnt Go, and in Mexico translation was (turns out this one appears to be an urban legend and cannot be verified). Ethical Problems in International Marketing The ethical standards are frequently not defined or always clear even within the country, which to leads dilemmas for domestic marketers. The business ethics is infinitely more complex in international marketplace, because value judgments differ widely among culturally diverse groups. The ethical standards commonly accepted in one country may be completely unacceptable in other countries. In US, giving business gifts of high value is highly condemned, whereas in many other countries the business gifts are not only accepted but also expected. Once the existing ethical framework is examined in the field of international marketing from a macro marketing perspective, it is argued that marketers cannot always rely on universally accepted ethical norms, such as hyper norms or core values that have been suggested by a deluge of marketing. We can use some basic moral values in evaluating international marketing ethical issues. We should accept violations of basic moral values in internationa l marketing settings as ethical problems. Following are Major International Marketing Ethical Problems derived from applied researches by Armstrong Traditional Small Scale Bribery- This involves the payment of few concurrency to a foreign official in exchange for him/her violating some official duty or responsibility or to speed routine government actions (grease payments, kickbacks). Large Scale Bribery- This involves relatively large payment intended to allow a violation of the law or designed to influence policy directly or indirectly (eg, political contribution). Gifts/Favours/Entertainment- This includes a range of items such as: lavish physical gifts, opportunities for personal travel at the companys expense, gifts received after the completion of transaction and other extravagant expensive entertainment. Pricing This involves unfair differential pricing, questionable invoicing in which the buyer requests a written invoice showing a price that is different from the actual price paid, pricing to force out local competition, dumping products at prices well below that in the home country, pricing practices that are illegal in the home country but legal in host country (eg, price fixing agreements). Products/Technology This includes products and technology that are banned for use in the home country but permitted in the host country and/or appear unsuitable or inappropriate for use by the people of the host country. Tax Evasion Practices This is used specifically to evade tax such as transfer pricing (i.e., where prices paid between affiliates and/or parent company adjusted to affect profit allocation) including the use of tax havens, where any profit made is in low tax jurisdiction, interest payments on intra-firm loans, questionable management and service fees charged between affiliates and /or the parent company. Illegal/Immoral Activities in the Host Country This includes practices such as: polluting the environment, maintaining unsafe working conditions; product/technology copying where protection of patents, trademarks or copyrights has not been enforced and short weighting overseas shipments so as to charge a country a phantom weight. Questionable Commissions to Channel Members This includes unreasonably large commissions of fees paid to channel members, such as sales agents, middlemen, consultants, dealers and importers. Cultural Differences This is between cultures involving potential misunderstandings related to the traditional requirements of the exchange process (e.g., transactions) may be regarded by one culture as bribes but be acceptable business practices in another culture. These practices include: gifts, monetary payments, favours, entertainment and political contributions. Involvement in Political Affairs- This is related to the combination of marketing activities and politics including the following: the exertion of political influence by multinationals, engaging in marketing activities when either home or host countries are at war and illegal technology transfers. Conclusion Typically, the first area where companies seek to market their goods or services is within its own country (domestic marketing). Since the market, customer needs, tastes, geography, demographics, and distribution methods are familiar, its often the easiest place for companies to launch a product. The four Ps of marketing product, price, place and promotion are often easier for companies to determine within the domestic market. Companies begin marketing their goods or services within their domestic market, and expand to the global market to capture greater market share and open up new avenues for sales. Global marketing means to offer ones goods or services worldwide. Global marketing requires months of research and planning before getting into global market. It is necessary to understand different cultural, economic and political environments for success in international markets Reference and bibliography Text referencing: Reference book The Global Marketing Imperative by Michael R. Czinkota, Ilkka A. Ronkainen, John Tarrant News paper articles Electronic sources: Websites Publications available from websites Unpublished works: Personal communication

Applying Theory to Practice Essay

Theory offers procedure and arrangement to nursing knowledge and provides a methodical way of collecting data to define, clarify, and forecast nursing practice (McEwen & Willis, 2011). Nurses use nursing theory to develop a certain outlook about patient care. Nursing theories serve as a shared groundwork for nursing practice across all settings to develop better patient care outcomes. This paper will explore childhood obesity and then apply to practice a mid-range and a borrowed nursing theory to the practice problem. Childhood obesity is a national problem that crosses all economic and social lines. Overweight children and adolescents are in jeopardy of having heart disease, such as hyperlipidemia or hypertension. In a varied group trial of 5- to 17-year-olds youths, 70% of overweight youth had at least one risk factor for heart disease (Freedman, Zuguo, Srinivasan, Berenson, & Dietz, 2007). Overweight youth are at higher risk to develop Type II diabetes (Li, Ford, Zhao, & Mokdad, 2009). Type II diabetes increases the risk of long term complications such as renal disease, visual impairment, cardiovascular disease, amputation, neuropathy, up to and including death. Youth that are overweight are also at higher risk for musculoskeletal issues, sleep disorders, socio-economic problems due to families inability to obtain medications and treatment. Overweight youth are also at risk of psychological problems such as being bullied in school, depression, suicide, and poor self-esteem (Dietz, 2004). Children and adolescents who are obese often carry this into adulthood and become obese adults. This sets them up for the likely hood of adult health problems such as heart disease, diabetes, stroke, and osteoarthritis (Guo & Chumlea, 1999). Some of the long term ramifications of childhood obesity include but are not limited to many types of cancer, including cancer of the breast, colon, endometrium, esophagus, kidney, pancreas, gall bladder, thyroid, ovary, cervix, and prostate, multiple myeloma and Hodgkin’s lymphoma (Kushi et al., 2006). There are so many short term and long term emotional and physical ramifications associated with childhood obesity that it warrants research and study. Childhood obesity is preventable and treatable. As a society it is time that measures were put into place to reduce the ever increasing numbers of children dealing with childhood obesity on a daily basis. There also seems to be a tendency for obesity to be passed down from generation to generation not because of genetics alone, but because of the learned lifestyle of the family. To treat children and adolescents for obesity it is going to take educating and treating the entire family unit. References Dietz, W. H. (2004). Overweight in childhood and adolescents. New England Journal of Medicine, 350(), 855-857. Freedman, D. S., Zuguo, M., Srinivasan, S. R., Berenson, G. S., & Dietz, W. H. (2007). Cardiovascular risk factors and excess adiposity among overweight children and adolescents: the Bogalusa heart study. Journal of Pediatrics, 150(1), 12-17. Guo, S. S., & Chumlea, W. C. (1999). Tracking of body mass index in children in relation to overweight in adulthood. American Journal of Clinical Nutrition, 70(), 145-148. Kushi, L. H., Byers, T., Doyle, C., Bandera, E. V., McCullough, M., & Gansler, T. (2006). American cancer society guidelines on nutrition and physical activity for cancer prevention: Reducing the risk of cancer with healthy food choices and physical activity. CA: A Cancer Journal for Clinicians, 56(56), 254. Li, C., Ford, E. S., Zhao, G., & Mokdad, A. H. (2009). Prevalence of prediabetes and its association with clustering of cardiometabolic risk factors and hyperinsu linemia among US adolescents. Diabetes Care, 32(). McEwen, M., & Willis, E. M. (2011). Theoretical basis for nursing (3 ed.). Philidelphia, PA: Wolters Kluwer .

American Dreamer Essay

Bharati Mukherjee’s essay about an â€Å"American Dreamer† was brought across with a strong positive point which I agreed with for the most part. After reading over her essay numerous times I finally got a hold of what she was trying to get across to the reader. On one hand she explains that she admires the bill of rights and what our nation was founded upon. I think a lot of people would agree with this considering how far our nation has got with it, but then again you have those who oppose. On the other hand she expresses how she feels about being called Indian-American. The way she conveys her opinion about it makes me want to agree with her more. Her writing is very persuasive and I have to say I not only agree with her because opinion, but for the reason that if I were to go to another country, and have to work as hard as she did to become a legalized citizen. Another thing were on the same page on is having to put a hyphenated status even after becoming a fully legalized citizen. Mukherhee comparison of her culture to the United States was interesting to me. I have never seen a person express how much they value their cultures strict laws and regulations. This makes me think about how I take advantage of all the great things my country has to offer. She described her culture clearly and one of the things that lingered in my head was that the parents chose who you married. This made me grateful of the many freedoms I have in my country also. America has a lot to offer but the main reason people migrate to United States is because of the freedom. I can understand why they decide to come here, but I have always wondered why you don’t see Americans migrating to other countries as much. There are many reasons they don’t go and I comprehend them, but if there was freedom in those countries I question would it be different. Over the past twenty-five years twenty million people have migrated to the United States from other countries. That is a vast amount and it makes me speculate if that amount continues to increase will we be overpopulated in the years to come. I think America should start limit the amount of people that desire to become Americans, and start to clean out the immigrants who have decided to not be responsible and become legal citizens. I am not saying this to be racist or defrading, but I am stating this because people who come to America illegally take a lot of what our great country has to offer and use it like it was in there possession already. For example I have head of many illegal immigrants that come to America and obtain free medical care and welfare checks that our taxes pay for. All I inquire is that they become legal and not take what our great country has to offer and take advantage of it. That is my personal view of the subject though I found myself having almost the same view point as Mukherjee. This issue about any hyphenated status as an American is a controversial one, but Bharati Mukherjee has a point and it needs to be heard. After working hard to become a legal citizen you shouldn’t have to hyphenate racial status. Although some might object and have a total diverse opinion I would reply with a simple suggestion to read this short essay, because it had a positive effect on me and I hope it will have the same on you.

What Is the Negative Binomial Distribution

The negative binomial distribution is a probability distribution  that is used with discrete random variables. This type of distribution concerns the number of trials that must occur in order to have a predetermined number of successes.   As we will see, the negative binomial distribution is related to the binomial distribution.   In addition, this distribution generalizes the geometric distribution. The Setting We will start by looking at both the setting and the conditions that give rise to a negative binomial distribution.   Many of these conditions are very similar to a binomial setting. We have a Bernoulli experiment.   This means that each trial we perform has a well-defined success and failure and that these are the only outcomes.The probability of success is constant no matter how many times we perform the experiment.   We denote this constant probability with a p.The experiment is repeated for X independent trials, meaning that the outcome of one trial has no effect on the outcome of a subsequent trial.   These three conditions are identical to those in a binomial distribution.   The difference is that a binomial random variable has a fixed number of trials n.   The only values of X are 0, 1, 2, ..., n, so this is a finite distribution. A negative binomial distribution is concerned with the number of trials X that must occur until we have r successes.   The number r is a whole number that we choose before we start performing our trials.   The random variable X is still discrete.   However, now the random variable can take on values of X r, r1, r2, ... This random variable is countably infinite, as it could take an arbitrarily long time before we obtain r successes. Example To help make sense of a negative binomial distribution, it is worthwhile to consider an example.   Suppose that we flip a fair coin and we ask the question, What is the probability that we get three heads in the first X coin flips?   This is a situation that calls for a negative binomial distribution.   The coin flips have two possible outcomes, the probability of success is a constant 1/2, and the trials they are independent of one another.   We ask for the probability of getting the first three heads after X coin flips.   Thus we have to flip the coin at least three times.   We then keep flipping until the third head appears. In order to calculate probabilities related to a negative binomial distribution, we need some more information.   We need to know the probability mass function. Probability Mass Function The probability mass function for a negative binomial distribution can be developed with a little bit of thought.   Every trial has a probability of success given by p.   Since there are only two possible outcomes, this means that the probability of failure is constant (1 - p ). The rth success must occur for the xth and final trial.   The previous x - 1 trials must contain exactly r - 1 successes.   The number of ways that this can occur is given by the number of combinations: C(x - 1, r -1) (x - 1)!/[(r - 1)!(x - r)!].   In addition to this we have independent events, and so we can multiply our probabilities together.   Putting all of this together, we obtain the probability mass function f(x) C(x - 1, r -1) pr(1 - p)x - r. The Name of the Distribution We are now in a position to understand why this random variable has a negative binomial distribution.   The number of combinations that we encountered above can be written differently by setting x - r k: (x - 1)!/[(r - 1)!(x - r)!] (x k - 1)!/[(r - 1)! k!] (r k - 1)(x k - 2) . . . (r 1)(r)/k! (-1)k(-r)(-r - 1). . .(-r -(k 1)/k!. Here we see the appearance of a negative binomial coefficient, which is used when we raise a binomial expression (a b) to a negative power. Mean The mean of a distribution is important to know because it is one way to denote the center of the distribution.   The mean of this type of random variable is given by its expected value and is equal to r / p.   We can prove this carefully by using the moment generating function for this distribution. Intuition guides us to this expression as well.   Suppose that we perform a series of trials n1 until we obtain r successes.   And then we do this again, only this time it takes n2 trials.   We continue this over and over, until we have a large number of groups of trials N n1 n2   . . .    nk. Each of these k trials contains r successes, and so we have a total of kr successes.   If N   is large, then we would expect to see about Np successes.   Thus we equate these together and have kr Np. We do some algebra and find that N / k r / p.   The fraction on the left-hand side of this equation is the average number of trials required for each of our k groups of trials.   In other words, this is the expected number of times to perform the experiment so that we have a total of r successes.   This is exactly the expectation that we wish to find.   We see that this is equal to the formula r / p. Variance The variance of the negative binomial distribution can also be calculated by using the moment generating function. When we do this we see the variance of this distribution is given by the following formula: r(1 - p)/p2 Moment Generating Function The moment generating function for this type of random variable is quite complicated.   Recall that the moment generating function is defined to be the expected value E[etX].   By using this definition with our probability mass function, we have: M(t) E[etX] ÃŽ £ (x - 1)!/[(r - 1)!(x - r)!]etXpr(1 - p)x - r After some algebra this becomes M(t) (pet)r[1-(1- p)et]-r Relationship to Other Distributions We have seen above how the negative binomial distribution is similar in many ways to the binomial distribution.   In addition to this connection, the negative binomial distribution is a more general version of a geometric distribution.    A geometric random variable X counts the number of trials necessary before the first success occurs.   It is easy to see that this is exactly the negative binomial distribution, but with r equal to one. Other formulations of the negative binomial distribution exist.   Some textbooks define X to be the number of trials until r failures occur. Example Problem We will look at an example problem to see how to work with the negative binomial distribution.   Suppose that a basketball player is an 80% free throw shooter.   Further, assume that making one free throw is independent of making the next.   What is the probability that for this player the eighth basket is made on the tenth free throw? We see that we have a setting for a negative binomial distribution.   The constant probability of success is 0.8, and so the probability of failure is 0.2.   We want to determine the probability of X10 when r 8. We plug these values into our probability mass function: f(10) C(10 -1, 8 - 1) (0.8)8(0.2)2 36(0.8)8(0.2)2, which is approximately 24%. We could then ask what is the average number of free throws shot before this player makes eight of them.   Since the expected value is 8/0.8 10, this is the number of shots.