Muhammad Waqas Global Promotion Strategies Lecture 28

Muhammad Waqas Recap Global promotion strategies Personal selling

Muhammad Waqas Global Account Team Global account team – Services a customer in every country in which the customer operates Siemen’s teams for Volkswagen & Ford – Response to centralized purchasing within global firms – Information technology makes it possible – Price pressures

Muhammad Waqas Selling to Businesses and Governments International Trade Fairs Selling through a bidding process Consortium selling

Muhammad Waqas Bidding Process 1.Search phase – Purchaser utilizes media and business contacts to search for vendors 2.Prequalifying phase – Purchaser requests documentation from potential bidders 3.Formal bids – Bidders provide written statement of how they will solve purchaser’s problem and their price 4.Selection – Purchaser makes choice – Performance bond – A guarantee that the company will pay certain specified damages if job not completed in accordance with specifications

Muhammad Waqas Consortium Selling Consortium – Group of firms that share a certain contract or project on a pre-agreed basis but act as one company toward the customer – Share the risk – Enhance competitiveness of turnkey projects

Muhammad Waqas Sales Promotion Add value to products in order to stimulate consumer purchasing and/or channel cooperation – Coupons, sweepstakes, gifts, reduced-price labels, free goods, double-pack promotions, in- store displays, slotting allowance

Muhammad Waqas Sports Promotion and Sponsorships Today, large sports events, such as the olympics and world championships in specific sports, cannot exist in their present form without funding by companies.

Muhammad Waqas Telemarketing Can be used to solicit sales and to offer enhanced customer service to current and potential consumers

Muhammad Waqas Managing Word-of- Mouth Cultural differences in product recommendation references – Individualistic cultures versus collectivist cultures Buzz marketing – Marketing activities undertaken to stimulate consumer discussion of the product – Good buzz and bad buzz

Muhammad Waqas Public Relations Marketing activities that enhance brand equity by promoting goodwill toward the organization

Muhammad Waqas Summary Global account management Other forms of promotion Public relations

Muhammad Waqas References Gillespie, K., Jeannet, J.P. and Hennessey, H.D. (2004), Global Marketing: An Interactive Approach, Houghton Mifflin, Boston, NY.