Competing In The Global And Domestic Marketplace

Competing In The Global And Domestic Marketplace

Competing in the Global and Domestic Marketplace
There are numerous considerations that companies face when they market their brands globally. Advances in communication, transportation, and other technologies have made the world a much smaller place. Today, almost every firm, large or small, faces international marketing issues. All will have to answer some basic questions when considering globalization; what market position should we try to establish in our country, in our region, and globally? Who will our global competitors be and what are their strategies and resources? Where should we produce or source our products? What alliances should we form with other firms around the world?

In addition to these considerations, and in our data driven business environment, importance is placed on how companies develop and manage information about important market­place elements. Marketing research initiatives are designed to assess the firm’s marketing information needs, develop the needed information, and help managers to use the information to gain actionable customer and market insights. Simply put, marketers need limited amounts of the right data at any given time to make these decisions.

Mary Kay: Building a Brand in India

This case describes the market entry into India by Mary Kay, Inc. At the time of the case, Mary Kay, Inc. was one of the largest direct sellers of skin care and color cosmetics in the world. The company’s brands are sold in more than 35 markets on five continents.

The video supplement provides you with an opportunity to explore different aspects of its global operations in the context of the entry into India. Specifically, you are asked to: (1) define what type of global company it is; (2) describe the global market-entry strategy used by the company to enter India; and (3) decide whether or not Mary Kay is a global brand.

This case addresses global marketing organizations, global market entry strategies, and global branding. You should consider the company’s expansion plans not only into India, but the entire region of Asia and other international markets.

Sources

Kerin, R. A. & Hartley, S. W. (2017). Marketing. (13th ed.). New York, New York: McGraw-Hill Education.

Directions
Initial Post

Review the following information about Mary Kay’s global expansion of the brand:

Background on Mary Kay

Read the video case in the textbook on pages 199-202.
Watch the Mary Kay video (Links to an external site.)
Sources

Read the following online websites and articles
Explore Mary Kay’s global branding campaign “Discover What You Love (Links to an external site.)”
Explore Mary Kay’s marketing success over its 50 year history: “Fifty and Fabulous—Mary Kay Continues to Experience Record-Breaking Growth During Golden Anniversary Year (Links to an external site.),” Marketwired, July 25, 2013
Based on the information provided above as well as internet research, put yourself in the position of a marketing consultant brought in to Mary Kay to formulate a set of well-developed and supported recommendations for expanding the brand into various international markets. You will be presenting your recommendations to the company’s senior leadership team. Your recommendations should be based on a critical evaluation of the effectiveness of its prior marketing strategies. The recommendations should be logically presented, well-supported, and thoroughly vetted.

IMPORTANT! Your grade for each weekly thread discussion will be determined by your analytical, integrative, problem-solving and critical thinking skills demonstrated by your posts and by your positive responses to the posts of your classmates. There is no minimum or maximum in terms of the word count; however, the response should explicitly address all required components of this discussion assignment. Your response should integrate external resources, which should be consistent with APA writing style and format (7th edition) and reflect higher level cognitive processing (analysis, synthesis and or evaluation).

From the Teacher:

Consumer markets are incredibly diverse; often mere segmentation is not definitive enough to effectively gain market share or to serve a market completely. The United States, or North America for that matter, is difficult to define; the European market, with the many diverse cultures making up any country’s resident profiles is even more complex. Other markets are becoming increasingly challenging and complex.

Cultural values are of utmost importance (different from customer value), as they define the boundaries or norms as to what is desirable.

There are key questions that companies must ask when considering a foreign market:

1) Is the geographic area homogeneous or heterogeneous regarding culture? (it’s often a question of how heterogeneous the particular culture is; very rarely is there a homogeneous culture).

2) What needs does this product fill in this culture?

3) Can enough people afford the product?

4) What values are relevant to the purchase and use of the product

5) What are the distribution, political and legal structures for the product (this is often a very challenging analysis)

6) How can the product be communicated?

7) What are the ethical implications for marketing the product in a particular country?

This website may be of interest: http://globaledge.msu.edu/ (Links to an external site.) (Links to an external site.)

Consider these aspects as you address the discussion question and your proposed strategies.