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Week 11: Current Issues in marketing practice (Globalisation (Major…
Week 11: Current Issues in marketing practice
Globalisation
International marketing
Increasing competition
Additional opportunities
Globally linked
Production
Technology
People
Major decisions
Looking at the global marketing environment
Deciding whether to go international
Deciding which markets to enter
Deciding on the global marketing program
Global marketing environment
Political/legal
Economic
Social/Cultural
Technological
Global marketing program
Global or standardised strategy
world as a single market
Multinational or adaption strategy
national opportunities
"Glocal" strategy
Standardises and localises core elements.
Marketing mix decisions
Dont change product
Communication adaption
dont change promotion
Product adaption
Straight extension
Adapt Product
Dual adaption
Adapt promotion
Social Media
What
Computer-mediated tools that allow people or companies to create, share or exchange information
Build on ideological and technological foundations of Web 2.0
Blogging, podcasts, chat rooms, message boards
Want
Companies
Increased market share
Increasing revenue
Strong brand addinity
Customers
Empowerment
Influence
Relevant products
Control
Before
Buyer decision process
After
Consumer decision journey
Bond
Consider
Evaluate
Buy
Enjoy
Advocate
New roles for marketing
Orchestrator
integrating market research, product design ect.
Publisher and content supply chain manager
consistent messaging
Marketplace intelligence leader
Monitoring market trends
Ethics and social responsibility
Ethical issues
Product
Planned obsolescence
Updating styles
Adding new features
Using materials that will fail earlier
Product warrantees
Product quality and safety
Poor quality or performance
Little benefit
Product safety
Manufacturer indifference
Increased production complexity
Poorly trained labour
Poor quality control
Distribution
Exclusive territories
Dumping
Dealer rights
Price
Price fixing
Price discrimination
Price increases
Deceptive pricing
Promotion
Bait and switch advertising
False and deceptive advertising
Promotional allowances
High pressure selling
Unsought products
Talked into buying something one doesnt want or need
Laws protect consumers in some situations
Marketers need to consider short/long term benefits
High prices
High costs of distribution
High advertising and promotion costs
Excessive gross profit margins
Deceptive practices
Deceptive pricing
Deceptive promotion
Deceptive packaging
Competition and consumer act helps protect
Unsafe products
Marketing impact on society
False wants and too much materialism
People judged on what they own
Too few social goods
Overselling private goods= increase demand for public services
Cultural pollution
Materialism, sex
Too much political power
Lobbying politicians
Movements towards Social responsibility
Laws
Competition and consumer act
Consumerism
Aim to improve rights and power of the buyers
Environmentalism
Concerned citizens, businesses and government agencies seeking to protect the environment
Maintaining social responsibility
Consider
Consumer (want satisfaction)
Company (profits)
Society (human welfare)