International marketing planning: adaptation and standardisation

Published on November 30, 2009 Reviewed on October 31, 2016   34 min

Other Talks in the Category: Global Business Management

0:00
Hello, my name is Demetris Vrontis. And I am a Professor of Marketing and the Dean of the School of Business at the University of Nicosia in Cyprus. I am also visiting faculty for Henley Business School at the University of Reading, a visiting research fellow at Manchester Metropolitan University and Leeds Metropolitan University. An external examiner for Nottingham Trent University, a visiting professor for Vorarlberg University in Austria and an external examiner of the Cape Peninsula University of Technology in South Africa. I am the Founder and President of the EuroMed Research Business Institute and the EuroMed Academy of Business as well as the founding editor of the EuroMed Journal of Business published by Emerald. In my presentation, I will be discussing International Marketing Planning with specific reference and relation to the long debated issue of standardisation and adaptation.
0:56
For those of you wishing to find more information about the EuroMed, standing for European and Mediterranean Research Business Institute and the EuroMed Academy of Business, you can visit the website at www.emrbi.com. And for those interested to find more about the EuroMed Journal of Business, in the website, www.emeraldinsight.com/emjb.htm.
1:27
An outline of my presentation on international marketing planning, with emphasis as we said earlier on adaptation and standardisation, is provided in this slide. This is what I call the, Vi.Mi.S.O.S.T.A.C, which is basically the initials for an acronym "Vi" for Vision, which is basically, what is the desired future, principal goals and direction of our organisation in the various international markets? "Mi" stands for Mission. What are the core corporate values? These are basically the beliefs that are shared among stakeholders and provide a framework within which marketing plans are prepared and executed. "S" stands for Situation Analysis, which is, where are we now? Giving us the internal and external analysis and the outcome of it. S.W.O.T analysis. Objectives that stands for, where do we want to go? Strategy, how do we get there-the broad direction? Strategic models to be used. Tactics, how do we get there, the details, the steps of strategies? And "A" for Action. What are the specific actions required to put the plan to work? And, finally, Control. How do we get and how do we know we have arrived? Measurement, monitoring, reviewing, updating, and modifying, these should be looked and will be discussed in detail in various international markets. And the input and affect of adaptation and standardisation will be discussed throughout this planned process.
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International marketing planning: adaptation and standardisation

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