STC 350 Exam 2
STC 350 Exam 2 STC 350
Popular in STC 350 International and Intercultural Advertising
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This 9 page Study Guide was uploaded by Savanah DeBrosse on Sunday October 11, 2015. The Study Guide belongs to STC 350 at University of Miami taught by Katy Snell in Fall 2014. Since its upload, it has received 84 views. For similar materials see STC 350 International and Intercultural Advertising in Strategic Communication at University of Miami.
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Date Created: 10/11/15
Savanah DeBrosse CAD 350 Exam 2 30 questions George Lopez Assignment cant just market to Latino population bc they are a mix of everything you need culture irrelevant very de ne differentiated marketing how do you think you should market to Latino Problem with marketing today there is segmentation in markets How do you appeal to population Target to demographic Media channels Clothes Colors of ppl Spanglish The Multinational Corporation A corporation that has its facilities and other assets in at least one country other than its home country Such companies have offices and factories in different countries and usually have a centralized head office where they co ordinate global management A lot of problems bc we don t manufacture things in US Globalization Technically this started thousands of years ago spices amp silks Globalization was at an all times low between 1914 and 1940s when world wars happened Globalization ultimately is the world moving away from having selfcontained countries How is it Possible Containerization a system of standardized transport uses common size of steel container to transport goods These containers easily transferred between different modes of transport container ships to lorries and trains This makes transport and trade of goods cheaper and more efficient lnternettelecommunication Forces Contributing to International Growth Saturated domestic markets Example Starbucks originally just 17 stores now over 12k Follows cannibalization marketing model when companies particularly retail companies open sites too close to each other competing for the same customers Cannibalization ex more than one of same store on same street within a sector not just one speci c store Walgreens amp CVS Higher Pro t Margins in Foreign Markets Fortune 500 country today 625 of sales comes from the domestic market number is shrinking Mcdonalds gets 23 of revenue from overseas HP 65 Exxon 69 Coke 72 Increased Competition at Home car brands headpones foreign owned American brand The De cit We re poor US national debt recently topped 18 trillion and de cits may start to climb again by 2018 New Markets Brazil super poor amp super wealthy Chinese Luxury Consumers Recently opened borders to trade Commonwealth of Independent States A regional organization whose participating countries are former Soviet Republics formed during the breakup of the Soviet Union Azerbaijan Armenia Belarus Georgia Kazakhstan Moldova Russia Tajikistan Turkmenistan Uzbekistan and Ukraine Update to book Political strife Spring 2014 number of western countries led by the US imposed sanctions on Russia China China s economy now the largest in world Chinese middle class OneChild Policy World Trade The US was once the hub of world trade now we just have a portion of the market share Advertising Expenditures Advertising importance varies by country Traditionally US spends the most Co that spend most on adv jp morgan chase Disney Chrysler Toyota Verizon Agency someone who can do advertising for you better than in house IMC not just advertising also PR More International Agencies Look up Ad Age Top 10 Compile a list of their clients research about which are foreign and which are domestic you may use other agencies outside of this list where are they from What kind of campaign did they do 1800INDIA Movie BPO gives employment inexpensive educated labor 5 billion dollar business half of employees are women increasing middle class don t believe in credit spend what you earn value earning money don t want family paying for them feel guilty chronic shortage of water no public transport out sroucing industry have to rely on own sources globalization opening a business effected so many lndians lives 0 How would you apply the four P s to the situation in India o If the concepts of credit are unknown in countries how can credit companies amex chase expand 0 Do companies have a responsibility to support a community above providing a quality product BPO is doing a lot for womens rights trickle down phenomenon introduce cultural norms but not changing indian economy VS british guy said test western concepts in India The International Marketing Mix How much do you want to adapt your traditional marketing plan to a local economyenvironment Follow the 4 P s Price Promotion Place Product Product Includes a products design and development as well as branding and packaging Place place that you distribute includes channels used in moving products from the manufacturer to consumer Price how much are you selling your productservice for Are you accounting for local currency and COL Promotion advertising personal WOM selling sales promotions direct marketing publicity earned media Sponsorships product integrationex using Febreeze in Bounce sheets trade fairs When you standardize your advertising it doesn t always apply Gillete Standardized 39the best a man can get communicates with 600 men worldwide that men want con dence in critical moments celebrity endorsed the book argues pure standardization but I found some tailoring China Walmart mantra cheap steep and deep domestically battle unions however in china they had to change Unions in China don t bargain contracts they pay dues to the Communist state Walmart in China had to change to appeal to Chinese people changing products moisturizer with sheep placenta right net to Oil of Olay product oddities Product Three three levels of a product in text book Core Bene ts Functional psychological social and economic Ex you can buy a car for the function of transpiration choose its style based on what s in fashion among your friends or colleagues social buy a standard for economic reasons and choose red because its your favorite color psychological Actual product Feature packaging branding styling quality brand name Can be durable high price long lasting or non durable Also services intangible Consumer vs industrial goods Product Standardization you can sell exactly the same product abroad as sold at home or depends on the product category Non durable goods usually require greater customization what are some examples of products that can be standardized Product Adaptation McDonalds squid black bun mc veggie mc curry Adaptation is mandatory when 0 Infrastructure is different 0 Government policies mandate it 0 Ex Denmark requires cereal makers strip out the added vitamins and minerals in their products before selling them 0 Newcastle Brown Ale removing caramel coloring in the US Assignment 3 Extra due 46 Monday global brands and local websites perform a comparative analysis of one global brand look for differences in font photos models language products highlighted product adaptation customization v standardization UPS Kit Kat Credit UM SONA system 5 for every half hour New Product Development sometimes an idea or product does not transfer and you need something new Ex fancy cutlery from Martha steward wouldn t sell in japan so she re ned chopsticks quotreverse engineeringquot COO Effect aka 39product ethnicity sometimes where a product comes from is repsected French wine Italian leather Russian vodka sometimes you want to downplay it you see Coke doing this india amp pakistan ads Bra ndingTrademarking a brand is any name term sign symbol or design or combo of these intended to differentiate the goods and services of one seller over another Trademark brand or part of brand that is given legal protection 2 Systems Priority in registration In Europe and elsewhere the rst rm to register a trademark is considered the rightful owner Priority in use US and Britain rights are established and maintained though use Has to be registered of course and use is legally de ned and differs by country Interference with Trademark a foreign government will supersede your business interest Ex coke cant use 39diet use coke 39light instead Brand Piracy Imitation fakes preemption Imitation producing identical copy Preemption when the law permits wholesale registration of brand names A person can register in his on name a large number of well known brands and sell them to counterfeiters or best to the multinational company when they move in Ex In china Starbucks dell and Disney were already registered Can request litigation but you will only win if your brand is really well known Packaging and Labeling Labeling is the print on the packaging Both promo and protective Packaging often determined by income level of the market targeted Interestingly some industrialized nations see reverse preferences Place You need to determine the appropriate channels of distribution Indirect export direct export and manufacture abroad Indirect Export rms lacking the money to built or acquire factories in foreign countries often use middlemen EMC don t produce goods on their own act like agents Direct Export no middlemen you identify the market yourself contact ppl hire own translators set prices handle shipping costs insurance costs labor costs high risk but cheaper Manufacture Abroad Licensing Another method of entry when a company offers someone the change to sell its trademarked brand in exchange for a licensing fee Franchising Licensing Licensing fees typically only 35 of sales but this can add up for example about 90 of the 160 million a year in sales at Calvin Klein lnc comes from licensing the designers name to makers of underwear jeans and perfume The only merchandise the NY based company makes itself in fact are its women s apparel lines Management Contracting ex Hotels higher local people to work there lower pro ts Foreign Assembly you build everything at home country then shit to the foreign market for nal assembly ex Toyota building a manufacturing plant here in the US to do nal assembly Contract Manufacturing Ex India A form of outsourcing Often means having things built cheaply in foreign country Good and bad Starbucks amp Nike joint Ownership Two or more rms in different countries band together to create a local business in which they share ownership Ex ford building a plant that is jointly owned in China Direct Investment Build your own independent plant abroad where things are made You need a lot of money Channels Wholesale Selling goods in bulk Costco BJ s Channels Retail Sale of goods to the public in relatively small quantities for use or consumption rather than for resale We are a retail society sell other ppl s stuff Price Will you differentiate prices according to the country or will it be standardized Ex charging typical US style prices for Starbucks coffee in Mexico was not working when coffee is usually less than 50 cents When you change a price based on locale its called differential pricing strategy Case Korean Pizza Pricing Objectives If you have few or no competitors you may use Market Skimming which is charging a lot bc you have something unique ex pet cafes in China Competitive pricing for when market is saturated and you want to attract more consumers toothpaste detergent Government Government will in uence your pricing Case in point internet is being relabeled as a utility in US meaning it will be cheaper and regulated as a basic necessity Public Relations Earned media stella artois PubHc y Personal Selling mary kay avon Direct Marketing catalogues cold calling direct mailemail Sponsorship Think trade fairs Product integration in some countries you cant begin selling unless you have an association with an existing brand Political Legal of the Home Country trade sanctions gov action that restricts free ow of goods and services ex embargo on Cuba Tariffs Nationalism International Law Language Context info surrounding an event Low context culture more facts info hard sell ex Charmin High context don t verbalized a lot of 39unsaid rules creates feeling sympathy instead of comparative claims symbols and stylized imagery Time Symbolism monochromic paying attention to and doing only one thing at a time Schedules are important as is punctuality polychromic being involved with many things at once Appointments can be rearranged last minutes Flexible stretchable ColorSymbols white death in japan giving a knife as a gift in Vietnam cutting ties with that person
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