Unit Eight Global Marketing

Unit 8 Vocabulary Consumer Market International Marketing Marketing Environment Marketing Plan Marketing Process Organizational Market

Unit 8 Essential Question How does marketing impact the global market?

Amplifying Questions  What are the elements of the marketing mix?  How is the marketing plan used in global marketing activities? Essential Question 1 Global Marketing How does the marketing mix relate to the marketing plan? International Business pg

The Marketing Process Carry out the marketing plan Plan the marketing strategy for the marketing mix based on marketing research Identify business opportunities Evaluate potential demand and consumer behavior patterns

The Marketing Mix Product Goods Services Place Transportation Storage Wholesaling Retailing Promotion Advertising Personal selling Publicity Sales promotions Price Value to consumer Production costs The Marketing Mix

Marketing of Services Consumer services: Lawyers, Doctors, Hairstylists, Repair Shops, Teachers, etc. Commercial services: Advertising, Information Systems, Security, Maintenance, etc. Distribution of services: Unlike goods, distribution of services usually occur at time of consumption.

The Marketing Plan Company goals Description of customers and their needs Information about competitors Information about trends —economic, social, legal, and technological Financial and human resources available Time line of actions to be taken Methods for measuring success

Amplifying Questions  What are the factors that make up the international marketing environment?  What factors influence consumer behavior in different countries?  How are markets segmented and a target market identified? Essential Question 2 Global Marketing What marketing activities are used in international business? International Business pg

The Marketing Environment Geography: Climate and terrain affect the types of products sold and transportation methods used. Economic conditions: High inflation may discourage foreign entry. A country’s currency value will affect selling price, demand and profits.

The Marketing Environment Social and cultural influences: Tastes, habits, customs, and religious beliefs all affect the marketing environment. Political and legal factors

Consumer Behavior Physical and emotional needs: Food, clothing, shelter, health care, transportation, personal satisfaction, etc. Geographic and demographic factors: Location, climate, population trends, age, gender, income, education, etc.

Consumer Behavior Personality and psychographic factors: Attitudes toward risk, change, convenience, and competition. Hobbies, family activities, interests, political and social opinions. Social and cultural factors: Family, friends, organizations, religions.

Selecting a Target Market Market segments Achievers Strivers Traditionalists Target market