International Marketing

Marketing Concept Management process Identify Anticipate Satisfy Customer Requirements Profitably

Marketing Concept Nonprofits, governments Target audience Financially sustainable

Marketing Concept Who is the customer Who is the target audience Needs Maslow Wants Extraneous pressures - culture, social, peer

Marketing Concept Perceptions Desires Inform Influence

Marketing Concept Position to buy Ability to do so plus Want Demand Size of market Volume of demand

Marketing Concept Know your customers Know your noncustomers Market research

4 Tenets of the Marketing Concept Well defined market Focus on customer needs Coordination of marketing activities Profitability Market orientation Beyond customer satisfaction

Marketing Orientation Internal Marketing Concentric circles Precedes external marketing “We consider it a sacking offence to promise something you can not deliver” React and adapt to market changes

Marketing Orientation Forward planning Mesh aims and resources with changing market opportunities Analyze business situations Define opportunities Develop plans Implement

Marketing Orientation Strategic Strategies Goals Objectives

Marketing Orientation Competition Unique selling point Core benefit

Marketing Concept Utility Value Satisfaction Alignment of human wants and perceived benefits

Marketing Concept Decision making process Perceptions Judgement Preferences Evaluation

Marketing Concept Exchange Obtaining a desired product in exchange of something Transaction Relationship marketing Marketing Network

Marketing Concepts Market segmentation Set of customers with enough common characteristics and needs Same marketing methods used effectively

Marketing Concepts Target Marketing Market positioning Distinguishing from other products Meaningful differences Distinctive competencies Not incompetencies In the eyes of the customer

Marketing Concepts Market entry Credibility International

Marketing Concepts Marketing Mix Elements 4 Ps Coordinate to greatest effect Actualize Positioning to a Segment Competition

Marketing Concepts Marketing Plan Research Customer feedback Auditing techniques

Implementation of Marketing Concepts Production efficiency Supply Chain efficiency Distribution efficiency Pricing Margins

Implementation of Marketing Concepts Quality products Reduce promotional costs Stimulate demand Customers forget Competition tries

Implementation of Marketing Concepts Information Persuasion Customer satisfaction Customer delight Superior service Legal Ethical

Implementation of Marketing Concepts Information Persuasion Customer satisfaction Customer delight Superior service Legal Ethical

Implementation of Marketing Concepts Figure 1.2 Analysis Planning Direction Process

Marketing Process Figure 2.1 Continuous Analytical Combines long-term strategy Short-term tactics Coordinates

Marketing Process Mutual support of business aims Maintain focus on customer Strategic planning to Marketing planning

Marketing Process Different stages of business performance Adjust and change when necessary

Marketing Process Customer needs Political Economic Cultural Social Psychological Technological Interaction of the above

Marketing Process Consumer - end user Customer - buyer Specifier Decision-making unit Needs and wants

Implementing Marketing Concepts Buying process Figure 2.2 Types of purchase - routine - impulse - high value - low value

Marketing Process Need identification Search Evaluation Purchase may change due to situation promotion trial drift between intention and decision use and repurchase