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International Marketing

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International Marketing ­ MKT630
VU
Lesson # 44
PROMOTING IN INTERNATIONAL MARKETS
International promotions mix:
Is the total marketing communications program and comprises of five major promotional tools, that are;
Advertising - any paid form of non-personal presentation and promotion of ideas, goods, or
services by an identified sponsor
Personal selling - personal presentation by the firm's sales force for the purpose of making sales &
building customer relations
Direct marketing - use of mail, telephone, internet, and other non-personal contact tools to
communicate with customers and prospects
Sales promotion - short-term incentives to encourage the purchase or sale of a product or service
Public Relationing - building good relations with the company's various publics, building up a
good "corporate image" & handling unfavorable events
Developing effective international communications:
Identifying first the target audience (individuals, groups, special publics or general public).
Target audience will heavily affect the communicator's decision:
­ on what will be said
­ how it will be said
­ when it will be said
­ where it will be said
­ who will say it
Factors influencing the setting international promotion mix:
·
type of product / market
·
size / dispersion of market
·
push versus pull strategy
·
buyer readiness stage
·
product lifecycle stage
·
availability of media
·
market sophistication
·
nature & level of competition / clutter
·
company's market position / objectives
·
company's resources
·
regulations
Changing face of international marketing communications:
·
shifting away from mass marketing to focused marketing
·
growth of direct marketing
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International Marketing ­ MKT630
VU
­ direct mail & catalogue marketing
­ telemarketing
­ television direct marketing (1-900-)
home shopping channels
·
­ online shopping (using computer)
­ internet (global reach)
­ in-house, house-to-house selling
Socially responsible marketing communication needed:
-
avoid fake & deceptive ads
-
refrain from making exaggerated claims
-
do not use bait & switch advertising
-
avoid irritants (faxes, e-mails, phone calls)
-
refrain from invasion of privacy
-
avoid exploiting emotions (love, fear, deprivation)
International advertising environment:
- Involves complexities of cross-cultural communications
- Consumer values and behavior patterns vary from one country to another (language, level of
context needed, life styles, values, norms & customs, ethics & moral standards, taboos)
- Differences in media and their availability
- Differences in regulations and market environment (economic, cultural, demographic,
political/legal)
Advertising in developed countries:
-  Emphasize consumer goods, their retailing and advertising through mass media
-  Heavy advertising and economic development go hand in hand
-  Restrictions in some countries
Advertising in developing countries:
-
Many less developed countries are sellers' market
-
Most product markets are geographically limited
-
Media not highly developed
-
Advertising plays a less significant role in marketing
-
Do not have many resources to allocate for advertising
Advantages of international standardized advertising:
­
economies of scale in production & distribution
­
lower planning & control costs
­
lower advertising production costs
­
ability to exploit good ideas on worldwide basis
­
ability to introduce new products worldwide quickly
­
a consistent international brand / company image
­
simplification of coordination and control of advertising programs
­
targets global consumer segments
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International Marketing ­ MKT630
VU
Constraints on standardizing international advertisements:
language and attitude differences
·
media availability and infrastructure
·
economic differences
·
local distributors
·
differences in tastes & attitudes
·
difference in cultures
·
difference in needs & usage patterns
·
difference in lifestyles
·
difference in perception of product
·
difference in degree of market maturity
·
difference in advertising regulations
·
­ advertising of "vice products" and pharmaceuticals
­ comparative advertisements (comparing with other brands ­
disallowed or a must to
substantiate)
­ advertising towards children -disallowed
When standardized advertising is appropriate:
-
brands that can be adapted for a visual appeal that avoid the problem of trying to translate words
-
brands that are promoted with image campaign based on themes that play universal appeal
-
new high-tech products
-
many luxury products targeted at rich
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Table of Contents:
  1. OVERVIEW OF INTERNATIONAL MARKETING:Domestic marketing, Multinational marketing, Globalization of markets
  2. INETRNATIONAL MARKETING PROCESS:Situation Analysis, Implementation and Control, Relationship
  3. INETRNATIONAL MARKETING PROCESS:The Product Concept, The Societal Marketing Concept
  4. INETRNATIONAL MARKETING PROCESS
  5. ENGAGING IN INETRNATIONAL MARKETS:Expansion of technology, Merchandize export and import
  6. INTERNATIONAL TRADE & INVESTMENT THEORIES:Theory of Comparative Advantage, Country Similarity Theory
  7. INTERNATIONAL TRADE & INVESTMENT THEORIES:Global Strategic Rivalry Theory,
  8. INTERNATIONAL MARKETING INFORMATION REQUIREMENTS:Foreign exchange info
  9. INTERNATIONAL MARKETING INFORMATION REQUIREMENTS:The Product
  10. FOREIGN NATIONAL ENVIRONMENTS:Political systems in the world, Political risks in international markets
  11. FOREIGN NATIONAL ENVIRONMENTS:Types of legal systems,
  12. FOREIGN NATIONAL ENVIRONMENTS:Conciliation, Mediation, Global relevance
  13. ROLE OF GOVERNMENTS IN INTERNATIONAL MARKETS:Industry-level needs, Promotion of exports by governments
  14. INTERNATIONAL CULTURAL AND SOCIAL ENVIRONMENTS:The concept of culture, Attitudes & beliefs,
  15. INTERNATIONAL CULTURAL AND SOCIAL ENVIRONMENTS:Culture is a human medium
  16. DETERMINING EXPORT POTENTIAL IN INTERNATIONAL MARKETS:Political Environment
  17. DETERMINING EXPORT POTENTIAL IN INTERNATIONAL MARKETS:Product Potential
  18. INTERNATIONAL MARKETING RESEARCH PROCESS:market structure, Implementing the research plan
  19. INTERNATIONAL MARKETING RESEARCH PROCESS:Identify alternative information sources
  20. INTERNATIONAL MARKETING RESEARCH PROCESS:Issues with primary global research:
  21. INTERNATIONAL MARKETING RESEARCH PROCESS:Problems with data, Comparative Analysis
  22. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Export intermediaries, Export and import management
  23. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Licensing contract, Licensing risks
  24. MODES OF ENTRY INTO INTERNATIONAL MARKETS:The franchiser’s balance,
  25. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Forms of countertrade, Specialized entry modes
  26. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Demand factors, Political factors
  27. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Drivers behind successful joint ventures
  28. MODES OF ENTRY INTO INTERNATIONAL MARKETS:Distribution agreements, Critical mass & optimism traps
  29. INTERNATIONAL STRATEGIC ALLIANCES:Impetus for international alliances, Management of strategic alliances
  30. INTERNATIONAL CONSUMER MARKETS:Model of Consumer BehaviorThe Buyer Decision Process
  31. INTERNATIONAL BUSINESS MARKETS:Nature of buying unit, Major influences on international business buyers
  32. INTERNATIONAL TARGET MARKETING:Market segmentation, Market positioning
  33. INTERNATIONAL MARKET SEGMENTATION:Geographic, Behavioral, Situational factors
  34. INTERNATIONAL MARKET SEGMENTATION:Basis for country segmentation, Stages of economics development
  35. INTERNATIONAL MARKET SEGMENTATION:Cultural Variables,
  36. INTERNATIONAL MARKET SEGMENTATION:Market coverage strategy, Socio-economic variables
  37. INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Individual product decisions, Branding
  38. INTERNATIONAL MARKETING MIX – PRODUCT POLICY:
  39. INTERNATIONAL MARKETING MIX - PRODUCT POLICY:Modular Approach
  40. INTERNATIONAL MARKETING MIX – PRODUCT POLICY:Issues in labeling, Pricing, Distribution
  41. INTRODUCING NEW PRODUCTS IN INTERNATIONAL MARKETS:The new product development process
  42. PRICING IN INTERNATIONAL MARKETS:Factors influencing international pricing,
  43. ITERNATIONAL MARKETING CHANNELS:Channel membership, Vertical marketing, Control over distribution
  44. PROMOTING IN INTERNATIONAL MARKETS:Advertising, Direct marketing, Public Relationing
  45. REVISION