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1 – 10 of over 167000Global marketing expansion is being widely promoted in both the professional and domestic communities. Domestic markets alone cannot provide the revenue and growth opportunities…
Abstract
Global marketing expansion is being widely promoted in both the professional and domestic communities. Domestic markets alone cannot provide the revenue and growth opportunities required by many business organizations. Many business firms want to sell in international markets but lack the expertise and financial resources to sell overseas effectively. In domestic markets, manufacturers’ representatives currently provide the sales function for many such firms, especially small manufacturers. Investigates the potential role that manufacturers’ representatives will play in global marketing expansion. A survey of 119 representative agencies was made to identify and study their experiences and/or perceptions about expanding their client base to world markets. Results show that 60 per cent of representatives were optimistic about their future opportunities in a global economy but were hardly aggressive (up to now) when it comes to entering world markets. Over 80 per cent of the representatives had enquiries from foreign principals, but only 47 per cent initiated the contacts. Moreover, only 23 per cent sought global markets for their current principals’ products.
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Henry F.L. Chung and Mia Hsiao-Wen Ho
Given the contradictory findings of standardization/adaptation of marketing strategy in explaining export performance in the extant research, this study aims to examine the…
Abstract
Purpose
Given the contradictory findings of standardization/adaptation of marketing strategy in explaining export performance in the extant research, this study aims to examine the contingent effects of managerial ties and born global orientation in the standardized advertising-export performance conceptualization.
Design/methodology/approach
The study used two-respondent method in the survey research by a sample of 155 exporting firms operating in the industrial marketing based in Australia and New Zealand and applied hierarchical regression analysis to test the hypotheses.
Findings
The findings demonstrate that standardized advertising has a significant effect on export performance and this relationship is positively moderated by business ties. Such effect is particularly enhanced for born global firms (than nonborn global firms). However, political ties negatively influence the impact of standardized advertising on performance and such effect is stronger for born global firms.
Research limitations/implications
A broader perspective of contingent variables should be included to examine the underlying relationship between standardized advertising and export performance in capturing the dynamism in international marketing contexts, such as institutional frameworks or sociocultural environments in host countries.
Practical implications
Standardized advertising is critical for born global firms’ export performance as it can increase efficiency and speed up internationalization processes. Such positive impact of standardized advertising on export performance is further enhanced if born global firms allocate resources to develop strong business ties with host country partners instead of building political ties with host country governments, because smooth business networking can facilitate standardized advertising on industrial marketing, yet justifiable political relations require intricate negotiations that often prolong internationalization progress.
Originality/value
This study incorporates managerial ties and born global orientation as contingent factors in fixing the theoretic interlock between standardization advertising strategy and export firm performance.
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Nicholas Addai Boamah, Emmanuel Opoku and Stephen Zamore
The study investigates the co-movements amongst real estate investments trust (REITs). This study examines the co-movements between the world and individual countries' REITs and…
Abstract
Purpose
The study investigates the co-movements amongst real estate investments trust (REITs). This study examines the co-movements between the world and individual countries' REITs and the co-movements amongst country-pair REITs. This study explores the responsiveness of the REITs markets' co-movements to the 2008 global financial crisis (GFC), the coronavirus disease 2019 (COVID-19) pandemic and the Russian–Ukraine conflict.
Design/methodology/approach
The study employs a wavelet coherency technique and relies on data from six REITs markets over the 1995–2022 period.
Findings
The evidence shows a generally high level of coherency between the global and the country's REITs. The findings further indicate higher co-movements between some country pairs and a lower co-movement for others. The results suggest that the REITs markets increased in co-movements around the 2008 GFC, the COVID-19 pandemic and the Russian–Ukraine conflict. These increased co-movements mostly lasted for a short period suggesting REITs markets contagion around these global events. The results generally suggest interdependence between the global and the country's REITs. Additionally, interdependence is observed for some of the country-pair REITs.
Originality/value
The evidence indicates that REITs markets respond to global events. Thus, the increasing co-movement amongst REITs observed in this study may expose domestic REITs to global crisis. However, this study provides opportunities for minimising the cost of capital for real estate projects. Also, REITs provide limited diversification gains around crisis times. Therefore, countries need to open the REITs markets to global investors whilst pursuing policies to ensure the resilience of the REITs markets to global events. Investors should also take note of the declining geographic diversification gains from some country-pair REITs portfolios.
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Van R. Wood, Dennis A. Pitta and Frank J. Franzak
This paper aims to contend that four significant ideas must be comprehended, and their connection and interaction understood if successful marketing to the 4 to 5 billion…
Abstract
Purpose
This paper aims to contend that four significant ideas must be comprehended, and their connection and interaction understood if successful marketing to the 4 to 5 billion undeserved bottom of the pyramid (BOP) people in the world, by multinational firms is to be realized. These ideas are: the bottom of the pyramid (BOP) market itself; share of the heart versus consumer animosity; the nature and influence of global “umbrella” brands and responsible marketing as a guiding principle for all firms including those focusing on the BOP. Each of these ideas, in and of itself, represents an important dimension in today's global business environment, but taken together they offer a clearer understanding of how companies, particularly multinational companies, can do well (profit) and do good (improve humanity).
Design/methodology/approach
The paper briefly overviews the BOP literature, highlighting those parts most relevant to this work; expands upon the notion of “share of heart” and its twin components consumer affinity and consumer animosity; delineates the nature and impact of global “umbrella” brands in BOP marketing; synopsizes the notion of “responsible marketing” in the BOP context, and proposes a conceptual scheme of how these ideas are connected, how they interact in today's business world, and how they can lead to ongoing business success.
Findings
Mutlinational firms (MNFs) wishing to successfully pursue BOP markets need to blend their understanding of BOP uniqueness, with a clear understanding of the other three concepts, namely share of heart, gobal umbrella brands and responsible marketing. Tapping the potential of the BOP requires not only radicallly lowered priced products but also consumers with higher income. Marketers must address both parts of the problem since acting on either in isolation will not be effective.
Originality/value
Global umbrella brands of the rich world (BrandAmerica, EuroBrand, BrandNippon, etc.) must also play a part in successful BOP marketing. The future of such global umbrella brands lies to a great degree with BOP markets as these markets are still growing, and thus represent and will continue to represent either enormous partners or enormous rivals. MNFs that truly understand the nature, scope and potential of BOP markets, and act in concert to market responsibly to consumers in such markets, will not only garner the needed share of heart related to long‐term success in such markets, but will see their own global umbrella brand continue to thrive and prosper in the ever evolving global market arena.
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Sreedhar Madhavaram, Vishag Badrinarayanan and Elad Granot
This paper aims to attempt to develop an integrative theoretical framework that approaches global industrial marketing from a managerial cognition perspective.
Abstract
Purpose
This paper aims to attempt to develop an integrative theoretical framework that approaches global industrial marketing from a managerial cognition perspective.
Design/methodology/approach
Drawing from the managerial cognition research, business strategy research, and international business research, this paper develops a theoretical framework that is relevant to global industrial marketing.
Findings
Global industrial marketing research has much to gain from the managerial cognition literature. The framework developed in this article presents relevant managerial cognition variables, their individual and firm level antecedents, and desirable outcomes.
Research limitations/implications
The framework presented in this paper provides strong theoretical foundation for further theory development in global industrial marketing research and managerial cognition research. However, given the conceptual nature of our research, empirical scrutiny and further conceptual and empirical research are required.
Originality/value
Given the growing importance of global industrial marketing, the authors hope that this article provides a theoretical foundation for future research. For practitioners, the framework provides a useful starting point for evaluating managerial cognition in their firms and effective usage of the managerial cognition concept.
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Ahmet Bayraktar and Nelson Oly Ndubisi
This research aims at contributing to international marketing literature by reconsidering the drivers of firms’ globalization and global market performance in the light of…
Abstract
Purpose
This research aims at contributing to international marketing literature by reconsidering the drivers of firms’ globalization and global market performance in the light of organizational mindfulness concept.
Design/methodology/approach
Based on industrial organization theory, resource-based view and literature on organizational mindfulness, a conceptual framework is presented to characterize how organizational mindfulness impacts firms’ globalization process and global market performance. In total, 14 propositions are extracted.
Findings
This paper proposes that organizational mindfulness plays a significant role in firms’ entry into foreign markets, global extension and global market performance. More specifically, organizational mindfulness positively moderates the relationships between external globalization drivers and the extent of firms’ globalization. In addition, organizational mindfulness is an antecedent to strategic processes, whereas it positively moderates the relationships between other internal drivers and firms’ globalization and global market performance. Furthermore, this paper suggests that country equity is a significant external globalization driver that also moderates the relationship between the extent of firms’ globalization and global market performance.
Research limitations/implications
The proposed framework contributes to international marketing research by integrating organizational mindfulness concept into the drivers of firms’ globalization and global market performance, and highlights its crucial role in the pursuit of opportunities in the global marketplace. The paper suggests that firms should create mindful organizations to expand its activities into global markets and achieve desirable global market performance. In other words, they should improve collective mindfulness to survive in today’s hyper-competitive markets.
Originality/value
The paper represents the first attempt that incorporates organizational mindfulness concept into firms’ globalization process. Highlighting the importance of developing mindful organizations, it reconsiders the drivers of firms’ global expansion and global market performance. Furthermore, it is the first attempt that introduces the country equity construct as an external driver of firms’ global extension and as a moderator between organizational reform measures and global market performance.
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The purpose of this paper is to propose a conceptual framework – the 4V model – for better understanding how global brands create firm value. Organized around the global brand…
Abstract
Purpose
The purpose of this paper is to propose a conceptual framework – the 4V model – for better understanding how global brands create firm value. Organized around the global brand value chain, the 4V model includes four sets of value-creating activities: first, valued brands; second, value sources; third, value delivery; and fourth, valued outcomes.
Design/methodology/approach
The approach is conceptual with illustrative examples.
Findings
The sources of global brand value and the processes through which global brands contribute to firm value differ systematically across types of global brands. This paper highlights interrelations and how different activities built upon and reinforce each other.
Research limitations/implications
The 4V model ties together broad strands of research conducted to date and offers insights into ways the paper might better understand and study global brands. It should inspire empirical research on the associations between the 4Vs.
Practical implications
International marketing managers should be able to develop and evaluate global brand strategies more effectively using the 4V model described in this paper. Linking their strategies to valued outcomes puts marketers more firmly at the level in the organization they deserve, namely, the C-Suite.
Originality/value
The framework offered in this paper is unique in that it blends insights obtained from multiple sources, namely, academic research, articles that appeared in the business press, case studies, and interactions with managers and policy makers around the world.
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The purpose of this paper is to examine the degree of integration of emerging markets with the world market and amongst them. Further, the impact of the 2008 global financial…
Abstract
Purpose
The purpose of this paper is to examine the degree of integration of emerging markets with the world market and amongst them. Further, the impact of the 2008 global financial crisis (GFC) on and structural breaks in the degree of integration are explored. The paper, additionally, analyses the behaviour of the level and the rate of change of the degree of integration around the period of the GFC.
Design/methodology/approach
The paper relies on the R2 from a single factor world and the incremental R2 from a two-factor world and emerging market models as proxies for the global and emerging markets degree of integration, respectively. Relying on the Quandt test for unknown structural breakdates, the paper examines structural breaks in the degree of integration.
Findings
The degree of global integration of emerging markets exceeds their degree of integration with themselves, particularly in the recent period. Additionally, the GFC is a significant driver of the recent increase in world market integration. We observe significant structural shifts in both the degree of the world and emerging markets integration measures. The breaks in the world market integration largely coincide with the GFC, whereas that of the emerging market integration is dispersed. Also, the level of the world market degree of integration has reversed recently, although, the degree of world market integration remains above pre-crisis point.
Practical implications
There exist high country-specific components in emerging market returns that are not accounted for by the world and emerging market factors despite the recent increase in global integration. Thusly, portfolios that diversify across emerging markets appear to have a high diversification potential. Additionally, substantial diversification gains may be realised with the inclusion of emerging market assets in global portfolios.
Originality/value
The paper shows that the emerging markets respond similarly to common global, although, diversely to emerging markets events. Additionally, evidence of the impacts of the GFC on the degree of global integration of emerging markets is presented.
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Johny K. Johansson and Laurence Leigh
The purpose of this paper is to provide an empirical assessment of the degree to which global firms have penetrated markets in emerging countries in the new millennium. The focus…
Abstract
Purpose
The purpose of this paper is to provide an empirical assessment of the degree to which global firms have penetrated markets in emerging countries in the new millennium. The focus is on the “big four” emerging countries of Brazil, Russia, India, and China (BRIC), and the study examines penetration in three product categories: beer, hair care, and carbonated soft drinks.
Design/methodology/approach
The conceptual development draws on a normative‐descriptive framework, predicting the behavior of multinationals from normative models of their strategic behavior. Predictions are evaluated against market share data for the multi‐domestic product categories.
Findings
Multinationals with strong global brands will introduce their global brands and be successful also in multi‐domestic local markets where preferences differ across countries. However, the key to success is not always their global brands, but could equally likely be an acquired local brand. Some local brands successfully defend their markets, and even venture abroad into neighboring regions.
Research limitations/implications
Globalization does not mean the success of global brands as much as success of global firms. In the end, the penetration of local emerging markets is not necessarily from global brands, but from global companies with acquired local brands.
Originality/value
The paper establishes that any fear of elimination of valued local brands is overblown. It also helps dispel the myth that emerging countries cannot develop strong international brands on their own. But one issue remains: the financial clout of global firms is difficult for emerging firms to counter.
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