We now have a new term to describe the international marketer – the trade globalist. In their newly published book, Mastering Global Markets: Strategies for Today's Trade Globalist, Czinkota, Ronkainen, and Donath coin the term and purport to offer new, global business insights. It is not clear how the new term changes our understanding of the international marketer, global marketer, export marketer, or trade specialist, or how the material will accomplish the objectives set out in the preface. Newly crafted terms aside, however, the important question remains: Is new and useful information, or, at a minimum, old information presented in new and useful ways, offered in this book? In the first several pages, 15 endorsers expound on the book's merits. From Philip Kotler (Northwestern University) to Gene Cunningham (the Boeing Company), noted authorities congratulate the authors for producing “an extremely practical guide”, “a book you want to read before your competitors do”, “a must read for people that are or want to be in the global business”. If one believes what endorsers write, and some readers do or endorsements would not be so prominent a marketing tool, then the answer to our question is answered in the affirmative. But are endorsers accurate in their judgments?
The book is comprised of three integral parts: a general economic, cultural, and social overview in Part 1; a delineation of strategic planning issues in Part 2; and a discussion about managing the marketing mix in an international/global context in Part 3. In the first part, the authors argue the case for taking the business global; however, much of the material is self‐evident and offers few insights the practicing manager would not have already thought about before buying the book. While final consumer demand is given sufficient treatment, industrial or business‐to‐business consumption patterns, on the other hand, are largely ignored. This oversight is serious, as industrial markets are the mainstay for many companies seeking new business offshore. Mastering Global Markets offers the best general discussion I have read on trade finance for the marketer. Credit policies, financing sources, factoring, official trade financing through government and quasi‐government agencies, managing foreign risk, and creditworthiness are subjects covered in sufficient depth for the intended audience. In general, I found the discussion on culture largely devoid of information helpful to the practicing marketing manager. What cross‐cultural awareness programs are available? What should be taught to marketing personnel preparing for overseas assignments? How does one determine key cultural exclusives and imperatives of various societies? Furthermore, no mention is made about the problems women or visible minority managers' face in foreign cultures. In brief, too many practical issues are overlooked, which reduces the currency of much of the information presented in Part 1. Another major drawback is that the presentation is almost exclusively from a US point‐of‐view. The political orientation, regulations, laws, even the presentation about Japan, is predicated on a US‐based sensitivity. American readers likely will not recognize the orientation bias; however, the presentation may appear smug and self‐centered to non‐Americans.
Chapters comprising Part 2 focus on international marketing strategies. The authors emphasize that managers must be prepared as their companies proceed through the international development stages. In the early stages, companies may have to rely on foreign trade specialists. Roles, capabilities, and limitations found in a number of international trade intermediaries are well summarized for the professional marketer. Furthermore, the authors are to be commended for their lucid discussion of alternative entry modes. The reader will benefit immensely from this discussion. I found the service discussion; on the other hand, of minimal value to the professional marketer, which is unfortunate, as the services component of international trade has been growing for decades. Overall, the material in Part 2 is very similar to that found in undergraduate international marketing textbooks. With the exception of strategic planning, international development stages, and entry modes, the authors provide information of minimal practical value to the professional marketer.
Part 3 of the book examines the marketing tactics and operations that implement international strategies. I found the chapter on marketing research very limited. The end‐of‐chapter listing of data sources and the discussion about foreign opportunity analysis is well done; however, coverage of research methods is very shallow and, consequently, not very useful to the practitioner. Most readers will not understand the meaning of sample frame, validity, reliability, or other methodological terms. As an alternative, I would emphasis the following topics: how to locate potential customers, how to measure buying power, how to estimate market size, how to assess competitive intensity in a market, and how to use SIC codes and industrial directories. The authors' discussion of product strategy is very useful, particularly with respect to the R&D‐marketing interface. Their branding presentation, on the other hand, is relevant only to managers working with large, multi‐brand companies. Small companies with fewer brands may find the discussion of limited value. The material on pricing is very strong. Price escalation, countertrade, transfer pricing, and dumping are described in terms useful to the practicing manager. Furthermore, the authors clarify terms of sale issues and describe how to price when currencies fluctuate. I found the material on global distribution and logistics thorough and lucid, and presented in a manner easily understood by the experienced marketer.
Czinkota and Ronkainen have written one of the best global marketing textbooks in the English‐speaking world. It is crafted for the university undergraduate students who possess very limited exposure to international marketing or to marketing practice. In many ways, Mastering Global Markets resembles the authors' undergraduate text, albeit with a few more examples and a lot less theory. It is because of the similarity between the two that leads me to conclude the book really is of limited value to the professional audience. Textual material is presented in a style suitable for the practicing marketer – lots of company examples and real‐world applications – nonetheless, the general nature of the information is not sufficiently different from what undergraduate students receive in the 600+ page textbook. What is needed is more substance on how international/global marketing is conducted. If the authors' objective in writing this book is to present a general overview of the field of global marketing, then the objective is achieved. But, if the objective is to enhance the effectiveness of marketers doing their jobs and adding value after reading this book, then they have fallen short of their objective. Contrary to the views of a host of endorsers, based on my review of the book, I see very little new information, or old information offered in new or useful ways. It is another rendition of a very well told story, but not tailored sharply enough for the intended audience.
