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Form of advertising in which consumers make recommendations to each other regarding the quality, value, and desirability of products.
b. Often touted “best form of advertising” but is extremely subjective/prone to rumors |
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Defined by “finding out what people want and giving it to them”
i. Company-wide responsibility for marketing
b. American Marketing Association
i. “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders”
c. From Jeffery Curry (author)
i. The whole commercial process that creates (through promotion) the interest that the potential customer demonstrates prior to the sale
ii. The targeting, acquisition, and retention of customers over a period dictated by the life cycle of the product under consideration |
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| Finding the best people that most closely fit the culture trying to adapt to |
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| hire only the local people |
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| Exporting the home grown managers to adapt in the current country |
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a. Looks at how the countries environment effects the business in that country
b. 4 Factors
i. Factor Conditions
1. Factors or production (roads, technology, water, human capital)
ii. Demand Conditions what the consumer demands based on culture
iii. Rivalry with local and other global companies
iv. Supporting Industries factors of delivery, market research, suppliers |
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| An effect on a certain countries products based upon perceptions of that company (i.e. German engineering, French wines, etc.) |
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| Any of the various techniques used to create a positive image of a seller’s product in the minds of potential buyers |
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| Any product or feature that gives one company an edge over another company |
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| Perceptual place of a brand with respect to other brands in the mind of consumers |
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| the number of intermediaries required to move a product through the marketplace to the end-user. The more intermediaries, the greater the length |
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| a form of public notice tha seeks to inform, persuade and otherwise modify consumer attitudes toward a product, with the objective of triggering an eventual purchase |
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| the percentage of potential customers that will be impacted by an advertising campaign |
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| a person temporarily or permanently residing in a country and culture other than that of the person's upbringing or legal residence |
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formed under the United Nations (1947) provides guidelines for goods and services of all types in international markets
short for = International Organization for Standardization |
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| AMA - a brand is a customer experience represented by a collection of images and ideas; often, it refers to a symbol such as a name, logo, slogan, and design scheme |
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| Curry: “The value a company derives from the fact that their product name is recognized and well thought of in the market place” |
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| 6 distribution channel characteristics (cost, capital depth, product line, control requirement, range, compatibility)pg 111 |
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cost-management labor to locate/negotiate a shipping agreement
Capital Depth-whether company must pay for the channel set-up
Product Line-the product produced greatly influences the line and how long it is, how much is made, etc.
Control Equipment-figuring out how much control is needed in the system
Range-success of product depends on size of area its distributed
Compatibility-distribution won't be successful unless members of chain work together efficiently |
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| Affiliate Advertising Agencies |
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| a local operation that receives input and support from a large international agency (sometimes large company has stake in local affiliate) |
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| Network Advertising Agencies |
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| a group of many local advertising operations that receive oversight and ownership by single operator |
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| a product-driven marketing strategy that seeks to inform, persuade, and otherwise modify consumer attitudes by offering incentives and discounts to members of the distribution chain. Results in intermediaries actively selling, rather than just responding to consumer demands |
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| a market-driven marketing strategy that seeks to inform, persuade and otherwise modify consumer attitudes before they reach the point of purchase. Usually accomplished through large-scale mass-media advertising, results in increased demand for products/services |
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| Cultural variables in “Cultural Values Reflected in Arab and American Television Advertising |
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the individualism vs. collectivism
horizontal and vertical identification of relationships
determinism and fatalism
logical vs. intuitive decision making |
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| Frequency (of advertising) |
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Definition
| number of times each target of an advertising campaign is impacted by advertisements for a particular product or service |
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