Popular in International Marketing
verified elite notetaker
Popular in Marketing
This 4 page Study Guide was uploaded by Hannah Hicks on Monday November 16, 2015. The Study Guide belongs to MKT 371 at a university taught by Dr. Uday Tate in Summer 2015. Since its upload, it has received 99 views.
Reviews for study guide
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/16/15
Hannah Hicks Chapter 13 -grated marketing communications (IMC): the challenge of efficiency communication across borders is one reason that global companies and their advertising agencies are embracing a concept -Advertising: any sponsored, paid message that is communicated in a nonpersonal way. -Global advertising: messages whose art, copy, headlines, photos, taglines, and other elements have developed expressly for their worldwide suitability -Global advertising content: standard verus adaptation -4 major difficulties that compromise an organization’s attempt to communicate with customers::: 1. Message may not get through to the intended recipient. 2. The message may reach the target audience but may not be understood or may be misunderstood. 3.message may reach the target audience and may be understood but still may not compel the recipient to take action. 4. The effectiveness of the message may be impaired by noise (an external influence, such as competitive advertising, other sales effectiveness of the communication. -Pattern advertising: concept of global product platforms. Middle ground between 100 standardization and 100 percent adaptations, a pattern strategy calls for developing a basic pan-regional or global communication concept for which copy, artwork, or other elements can be adapted as required for individual country markets. -appeal: global campaign will result in the substantial benefits of cost savings, increased control, and the potential creative leverage of global appeal. -The following issues should be considered when selecting an advertising agency: -Company organization, national responsiveness, area coverage, buyer perception, -Creative Strategy: statement or concept of what a particular message or campaign will say -Advertising Appeal: communications approach that relates to the motives of the target audience. For example, ads based on rational appeal depend on logic and speak to the audience’s intellect. Rational Appeals are based on consumers needs for information. -Ads using an emotional appeal may tug at the heart-strings or tickle the funny bone of the intended audience and evoke an emotional response that will direct purchase behavior. -Selling proposition: promise or claim that captures the reason for buying the product or the benefit that ownership confers. -The way an appeal or proposition is presented is called the creative execution. -Creatives: art directors and copywriters -art direction: visual presentation of ad- body language Hannah Hicks -the words that are spoken or written communications elements in advertisements are known as copy. Copywriters are language specialists who develop the headlines, subheads, and body copy used to print advertising and the scripts containing the words that are delivered by spokespeople… -much academic research has been devoted to the impact of culture on advertising. Tamostu Kishii’s 7 characteristics…………………. -Public Relations: strategic communication process that builds mutually beneficial relationships between organizations and their publics -publicity: PR generates -corporate advertising: generally considered part of the PR function. Used to call attention to the companys other communication efforts. -Image advertising: enhances the publics perception of a company; creates goodwill; or announces a major change, such as merger, acquistition, or divestiture. -advocacy advertising: a company presents its presents its point of view on particular issue. Consider Japans Fuji Photo Film w/ advertising in US 1 bil campaign Chapter 14 -Sales Promotion: refers to any paid consumer or trade communication program of limited duration that adds tangible value to a product or brand. In a price promotion, tangible value may take the form of a price reduction, coupon, or mail-in refund. Nonprice promotions may take the form of free samples, premium, “buy one get one free” offers, sweepstakes, &contest -Consumer sales promotions: designed to make consumers aware of a new product, to stimulate nonusers to sample an existing product , or to increase overall consumer demand. -Trade Sales promotion: designed to increase product availability in distribution channels -sales promotion plans and programs should be integrated and coordinated with those for advertising, PR, and personal selling. -Sampling: sales promotion technique that provides potential customers with the opportunity to try a product or service at no cost. Coupon: printed certificate with price reduction -Personal Selling: person to person communication between a company rep and buyer -political risks, regulatory hurdles, currency fluctuations, market unknowns -Expartiates: expats/ employees sent from respective countries to work abroad -Strategic/consultative selling model Hannah Hicks -Develop a personal selling philosophy: 1. Adopt mkt concept 2. Value personal selling 3. Become a problem solver -Relationship Strategy: 1. Adopt win win philosophy 2. Project professional image 3. Maintain high ethical standards -Product strategy: 1. Become a product expert 2. Sell benefits 3. Configure value added solutions -Customer Strategy: 1. Understand buyer behavior 2. Discover customer needs 3. Develop prospect base -Presentation Strat: Prepare objectives, develop presentation plan ,provide excellent customer service -Six Step Presentation Plan 1. Approach- review strategic model, initiate customer contact 2. presentation- determine prospect needs, select product or svc, initiate sales presentation 3. Demonstration- decide what to demonstrate, select selling tools, initiate demonstration 4. Negotiation- anticipate buyer concerns, plan negotiating methods, initiate win win negotiations 5.Close- plan appropriate closing methods, recognize closing clues, initiate closing methods 6. Servicing the sale- suggestion selling, follow through, follow up calls -International personal selling approaches that fall somewhere between sales agents and full time employee teams include:: exclusive license arrangements, contract manufacturing or production, management-only agreements, joint ventures. -Direct MKT: communication with a consumer or business recipient that is designed to generate a response in the form of an order, visit, or other -One-to-one Mkt: (Peppers and Rogers 4 steps) identify customers and accumulate detailed information about them, differentiate customers and rank them in terms of value, interact with customers and develop more cost- efficient and effective forms of interaction, customize the product or service offered to the customer. -Direct Mail, catalog, infomercial, teleshopping, interactive television, sponsorship -Product placement: arranging for their products and brand names to appear on tv Chapter 17 -Core Competence: something that an organization can do better than its competitors. / Prahalad and Hamel 3 core competence- provides potential access to a wide variety of markets, makes significant contribution to perceived customer benefits, difficult to competitors to imitate. Hannah Hicks -Organizing: find structure that enables the company to respond to relevant market environment differneces while ensuring the diffusion of corporate knownledge and experience. -Matrix organization: achieve an organizational balance that brings together different perspectives and skills. 4 basic competencies on worldwide basis. 1 geographic knowledge, product knowledge and know how, functional competence in such fields as finance, production, and especially, marketing,, a knowledgeable of the customer or industry and its needs. -Lean Production: Japanese created, thereby gaining for themselves the kinds of dramatic competitive advantages that mass producers had previously gained over craft producers. -assembler value chains: skilled employees, continuous improvement, quality control, flexible mechanization -Downstream Value Chains: eliminates conflict between producer and intermediaries, sprint of coorperation. -Stakeholder: any group or individual that is affected by, or takes an interest in, the policies and practices adopted by an organization. Primary stockholders= top mgt, employees, customers, ppl who own stock, suppliers. Secondary stockholders= media, general business community, local community groups. -Stakeholder analysis: process of formulating a win win outcome for all stakeholders -Corporate Social Responsibility (CSR): companys obligation to pursue goals and policies that are in societys best interest. -Code of ethics: summarizes core ideologies, corporate values, and expectations -Leadership: integrity, honesty, transparency, fairness and its consistency, timely and clear communications, straight talk with professionalism, work ethics, trustworthiness, decision making under uncertainting (death) -Functional structure: CHART Headquarters—research & development, production, marketing, accounting & finance -6 key elements of Organization Structure 1. work specialization 2. Departmentialization 3. chain of command 4. span of control 5. centralization/ decenteralization 6. formalization
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'