Solution Manual for Global Marketing, 9/E – Warren J. Keegan & Mark C. Green

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ISBN-13: 9780134138183

Author: Warren J. Keegan 

• Dynamic Study Modules help students study effectively on their own by continuously assessing their activity and performance in real time. Here’s how it works: students complete a set of questions with a unique answer format that also asks them to indicate their confidence level. Questions repeat until the student can answer them all correctly and confidently. Once completed, Dynamic Study Modules explain the concept using materials from the text. These are available as graded assignments prior to class, and accessible on smartphones, tablets, and computers.

Table of contents:

1 Globalization Imperative 1

Why Global Marketing Is Imperative 4

Saturation of Domestic Markets 4

Emerging Markets 4

Global Competition 5

Global Cooperation 6

Internet Revolution 7

The Fluid Nature of Global Competition 8

Globalization of Markets: Convergence and Divergence 12

International Trade versus International Business 13

Who Manages International Trade? 17

Evolution of Global Marketing 19

What Is Marketing? 19

Domestic Marketing 20

Export Marketing 22

International Marketing 23

Multinational Marketing 24

Global Marketing 24

The Impact of Economic Geography and Climate on Global Marketing 26

Summary 28

Key Terms 28

Review Questions 28

Discussion Questions 28

Further Reading 29

Appendix: Theories of International Trade and the Multinational Enterprise 30

2 Economic Environment 38

Intertwined World Economy 40

Foreign Direct Investment 42

Portfolio Investment 44

Country Competitiveness 46

Changing Country Competitiveness 46

Human Resources and Technology 46

Emerging Markets 48

Evolution of Cooperative Global Trade Agreements 51

General Agreements on Tariffs and Trade 51

World Trade Organization 51

Information Technology and the Changing Nature of Competition 59

Value of Intellectual Property in Information Age 59

Proliferation of E- Commerce and Regulations 61

Regional Economic Arrangements 62

Free Trade Area 63

Customs Union 65

Common Market 66

Monetary Union 66

Political Union 67

Multinational Corporations 67

Summary 69

Key Terms 70

Review Questions 70

Discussion Questions 71

Further Reading 72

3 Financial Environment 73

Historical Role of the U.S. Dollar 74

Development of Today’s International Monetary System 75

The Bretton Woods Conference 75

The International Monetary Fund 76

The International Bank for Reconstruction and Development 77

Fixed versus Floating Exchange Rates 78

Currency Blocs 80

Foreign Exchange and Foreign Exchange Rates 81

Purchasing Power Parity 81

Forecasting Exchange Rate Fluctuation 83

Coping with Exchange Rate Fluctuations 83

Spot versus Forward Foreign Exchange 86

Exchange Rate Pass- Through 88

Cryptocurrencies: A New Development 88

Balance of Payments 89

The Internal and External Adjustments 93

Economic and Financial Turmoil around the World 94

Asian Financial Crisis (1997–1998) and Its Aftermath 94

The South American Financial Crisis (2001–2002) and Its Aftermath 95

The U.S. Subprime Mortgage Loan Crisis and the Subsequent Global Financial Crisis (2007–2009) 95

The COVID- 19 Pandemic (2020–Present) Causing the Worst Recession Since World War II 96

Economic and Financial Crises in Perspective 97

Responses to the Global Financial Crises 97

Marketing in the Euro Area 101

Historical Background 101

Ramifications of the Euro for Marketers 104

Summary 107

Key Terms 108

Review Questions 108

Discussion Questions 108

Further Reading 109

4 Global Cultural Environment and Buying Behavior 110

Meaning of Culture 112

Elements of Culture 113

Material Life 113

Language 114

Social Interactions 118

Aesthetics 119

Religion 121

Education 123

Value Systems 125

Cross- Cultural Comparisons 126

High- versus Low- Context Cultures 126

Hofstede’s Classification Scheme 127

World Value Survey (WVS) 131

Schwartz Value Survey (SVS) 131

Cultural Distance 134

Adapting to Cultures 135

Culture and the Marketing Mix 137

Product Policy 138

Pricing 140

Distribution 140

Promotion 141

Summary 144

Key Terms 145

Review Questions 145

Discussion Questions 145

Further Reading 147

5 Political and Legal Environment 148

Political Environment— Individual Governments 149

Home Country versus Host Country 149

Structure of Government 151

Government Policies and Regulations 154

Political Environment— Social Pressures and Political Risk 163

Social Pressures and Special Interests 164

Managing the Political Environment 166

Terrorism and the World Economy 171

International Agreements 174

Group of Seven (G7) Group of Eight (G8 now defunct) and Group of Twenty (G20) 176

Wassenaar Arrangement 177

International Law and Local Legal Environment 179

International Law 179

Local Legal Systems and Laws 179

Jurisdiction 183

Issues Transcending National Boundaries 184

ISO 9000 and 14000 184

Intellectual Property Protection 185

International Treaties for Intellectual Property Protection 191

Antitrust Laws of the United States 194

Antitrust Laws of the European Union 196

U.S. Foreign Corrupt Practices Act of 1977 197

Summary 200

Key Terms 200

Review Questions 201

Discussion Questions 201

Further Reading 203

6 Global Marketing Research 204

Research Problem Formulation 208

Secondary Global Marketing Research 210

Secondary Data Sources 210

Problems with Secondary Data Research 212

Primary Global Marketing Research 214

Focus Groups 214

Survey Methods for Cross- Cultural Marketing Research 215

Observational Research 222

Leveraging the Internet for Global Market Research Studies 222

Market Size Assessment 225

Method of Analogy 225

Trade Audit 228

Chain Ratio Method 228

Cross- Sectional Regression Analysis 229

New Market Information Technologies 230

Managing Global Marketing Research 232

Selecting a Research Agency 232

Coordination of Multicountry Research 233

Summary 234

Key Terms 235

Review Questions 236

Discussion Questions 236

Further Reading 237

7 Global Segmentation and Positioning 238

Reasons for International Market Segmentation 239

Country Screening 239

Global Marketing Research 240

Entry Decisions 240

Positioning Strategy 241

Resource Allocation 241

Marketing Mix Policy 243

International Market Segmentation Approaches 243

Segmentation Scenarios 244

Bases for International Market Segmentation 246

Demographics 247

Socioeconomic Variables 249

Behavior- Based Segmentation 251

Lifestyle and Values 252

International Positioning Strategies 254

Uniform versus Localized Positioning Strategies 257

Universal Positioning Appeals 259

Global Foreign and Local Consumer Culture Positioning 260

Summary 263

Key Terms 263

Review Questions 263

Discussion Questions 263

Further Reading 264

Appendix: Segmentation Tools 265

8 Global Marketing Strategies 269

Information Technology and Global Competition 270

Real- Time Management 270

Blockchain Technology 271

On- Time Communication 272

Electronic Commerce (E- Commerce) 272

E- Company 274

Faster Product Diffusion and Connectivity 274

Global Strategy 275

Global Industry 275

Competitive Industry Structure 279

Competitive Advantage 281

Hypercompetition 286

Interdependency 287

Global Marketing Strategy 288

Benefits of Global Marketing 289

Limits to Global Marketing 291

R&D Operations and Marketing Interfaces 293

R&D/Operations Interface 294

Operations/ Marketing Interface 296

Marketing/R&D Interface 298

Regionalization of Global Marketing Strategy 299

Cross- Subsidization of Markets 302

Identification of Weak Market Segments 302

Use of the “Lead Market” Concept 303

Marketing Strategies for Emerging Markets 304

Competitive Analysis 307

Summary 308

Key Terms 309

Review Questions 309

Discussion Questions 309

Further Reading 310

9 Global Market Entry Strategies 312

Country Selection 313

Scale of Entry 316

Choosing the Mode of Entry 317

Decision Criteria for Mode of Entry 317

Exporting 321

Indirect Exporting 322

Cooperative Exporting 323

Direct Exporting 323

Licensing 323

Benefits 324

Caveats 324

Franchising 325

Benefits 326

Caveats 326

Expanding through Joint Ventures and Alliances 327

Benefits 329

Caveats 329

Drivers behind Successful International Joint Ventures 330

Wholly Owned Subsidiaries 333

Benefits 333

Caveats 334

Acquisitions and Mergers 334

Greenfield Operations 338

Dynamics of Entry Strategies 338

Timing of Entry 340

Exit Strategies 342

Reasons for Exit 343

Risks of Exit 345

Guidelines 346

Summary 346

Key Terms 347

Review Questions 347

Discussion Questions 347

Further Reading 349

Appendix A: Country Screening— Converting Raw Data into a 10- Point Scale 349

Appendix B: Alternative Country Screening Procedure 350

Appendix C: Mode of Entry Choice— Three Theoretical Perspectives 351

10 Global Product Policy Decisions I: Developing New Products for Global Markets 353

Standardization versus Customization 355

Drivers toward Standardization 355

Modular Product Design Strategies 359

Multinational Diffusion 361

Developing New Products in the Global Marketplace 365

Identifying New Product Ideas 366

Screening 367

Concept Testing 368

Test Marketing 368

Timing of Entry: Waterfall versus Sprinkler Strategies 370

Truly Global Product Development 375

Summary 377

Key Terms 377

Review Questions 378

Discussion Questions 378

Further Reading 379

Appendix A: Using Conjoint Analysis for Concept Testing in Global New Product Development 380

Appendix B: Back- of- the- Envelope Calculations— Incremental Break- Even Analysis (IBEA) 382

11 Global Product Policy Decisions II: Marketing Products and Services 385

Global Branding Strategies 387

Global Branding 387

Local Branding 391

Brand Naming 393

Global or Local Branding? 395

Brand- Name Changeover Strategies 398

Management of Multinational Product Lines 401

Product Piracy 406

Strategic Options against Product Piracy 407

Country- of- Origin (COO) Effects 410

Country- of- Origin (COO) Influences on Consumers 411

Strategies to Cope with COO Stereotypes 413

Global Marketing of Services 416

Challenges in Marketing Services Internationally 416

Opportunities in the Global Service Industries 418

Global Service Marketing Strategies 419

Summary 420

Key Terms 421

Review Questions 421

Discussion Questions 421

Further Reading 422

12 Global Pricing 423

Drivers of Foreign Market Pricing 424

Company Goals 424

Company Costs 425

Customer Demand and Price Sensitivity 426

Competition 428

Distribution Channels 431

Government Policies 431

Managing Price Escalation 432

Pricing in Inflationary Environments 435

Global Pricing Currency Fluctuations and Tariffs 437

Currency Gain/Loss Pass Through 438

Currency Quotation 440

Tariff Pass Through 441

Transfer Pricing 441

Determinants of Transfer Prices 441

Setting Transfer Prices 443

Minimizing the Risk of Transfer Pricing Tax Audits 444

Global Pricing and Antidumping Regulation 445

Price Coordination 446

Global Pricing Contracts (GPCs) 447

Aligning Pan- Regional Prices 448

Implementing Price Coordination 450

Summary 450

Key Terms 451

Review Questions 451

Discussion Questions 451

Further Reading 452

13 Global Communication Strategies 453

Global Advertising and Culture 454

Language Barriers 454

Other Cultural Barriers 456

Communication and Cultural Values 457

Setting the Global Advertising Budget 458

Percentage of Sales Method 459

Competitive Parity 460

Objective- and- Task Method 460

Resource Allocation 460

Creative Strategy 461

The “Standardization” versus “Adaptation” Debate 461

Merits of Standardization 463

Barriers to Standardization 465

Approaches to Creating Advertising Copy 466

Global Media Decisions 468

Media Infrastructure 468

Media Limitations 469

Advertising Regulations 470

Choosing an Advertising Agency 474

Other Communication Platforms 476

Sales Promotions 476

Direct Marketing 477

Livestreaming 478

Global Sponsorships 479

Mobile (Brand- in- the- Hand) Marketing 481

Trade Shows 482

Product Placement 484

Branded Entertainment (Content) 485

Viral Marketing 485

Global Public Relations (PR) and Publicity 487

Globally Integrated Marketing Communications (GIMC) 488

Summary 490

Key Terms 490

Review Questions 490

Discussion Questions 491

Further Reading 491

14 Sales Management 493

Market Entry Options and Salesforce Strategy 495

Role of Foreign Governments 498

Cultural Considerations 499

Personal Selling 499

Cultural Generalization 500

Corporate (Organizational) Culture 501

Customer Relationship Management (CRM) 501

Myers–Briggs Type Indicator 502

Impact of Culture on Sales Management and Personal Selling Process 505

Salesforce Management 506

Salesforce Objectives 506

Salesforce Strategy 506

Recruitment and Selection 507

Training 508

Supervision 509

Evaluation 511

Cross- Cultural Negotiations 511

Cross- Cultural Intelligence 512

Stages of Negotiation Process 512

Cross- Cultural Negotiation Strategies 514

Expatriates 516

Advantages of Expatriates 517

Difficulties of Sending Expatriates Abroad 518

The Return of the Expatriate— Repatriation 521

Generalizations about When Using Expatriates Is Positive or Negative 522

Summary 523

Key Terms 523

Review Questions 523

Discussion Questions 524

Further Reading 524

15 Global Logistics and Distribution 526

Definition of Global Logistics 528

Managing Physical Distribution 530

Modes of Transportation 531

Warehousing and Inventory Management 534

Third- Party Logistics (3PL) Management 537

Logistical Revolution with the Internet 538

Managing Sourcing Strategy 540

Procurement: Types of Sourcing Strategy 541

Outsourcing of Service Activities 546

Free Trade Zones 550

International Distribution Channel 554

Channel Configurations 554

Channel Management 556

International Retailing 556

E- Commerce and Retailing 559

Private- Label Branding (Store Brands) 562

On- Time Retail Information Management 562

Retailing Differences across the World 564

Summary 567

Key Terms 568

Review Questions 568

Discussion Questions 569

Further Reading 570

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