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Chapter 8 and 9 Notes

by: Alexis Cone

Chapter 8 and 9 Notes 86498 - MKT 3010 - 006

Alexis Cone
GPA 3.31
Principles of Marketing
Amanda Cooper Fine

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About this Document

Here are the notes from lectures that cover Chapter 8 and Chapter 19!
Principles of Marketing
Amanda Cooper Fine
Class Notes
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This 7 page Class Notes was uploaded by Alexis Cone on Monday November 23, 2015. The Class Notes belongs to 86498 - MKT 3010 - 006 at Clemson University taught by Amanda Cooper Fine in Spring 2015. Since its upload, it has received 36 views. For similar materials see Principles of Marketing in Marketing at Clemson University.

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Date Created: 11/23/15
Chapter 8 11192015 quotThink globally act locallyquot 0 Where can you standardize and cut cost and where do you adapt and spend a little more to remain relevant in a market Assessment of the Global Environment Intense competition Aggressive expansion 0 Risky to o lgnore growing markets 0 Not recognize new competitors Global Firms 0 Operating in more than 1 country 0 Several advantages Transnational brands 0 Trying to develop a brand that is embraced in all markets anywhere in the world Assessing a Country s Market 0 Economic analysis 0 General economic environment Trade de cit vs trade surplus Gross domestic product GDP 0 Market size and population growth rate Also where are the people located 0 Evaluating real income How far does the dollar go in the local economy 0 Infrastructure and technology 0 Transportation system 0 Overall distribution channels 0 Communication systems 0 Commerce 0 Government actions 0 Tariff o Quota Limiting the amount of imported goods brought in at one time 0 Trade agreements Ex NAFTA Sociocultural analysis 0 Power distance ls inequality natural and normal or are people equal 0 Uncertainty avoidance How formalized are day to day lives 0 Individualism vs collectivism What is the obligation and dependence upon groups 0 Masculinity Can women hold positions of power receive the same pay lead large companies ect 0 Time orientation Choosing a Global Entry Strategy 0 Exporting 0 Least risky 0 To see if there is demand for your product build awareness and reputation o Franchising Strategic alliance 0 Variety of rms who remain independent but work together to serve customers internationally Joint venture 0 Share ownership 0 Direct investment 0 Most risky 0 Own 100 outright Choosing a Global Marketing Strategy 0 Target market Global STP o More complicated than local STP Cultural nuances Subcultures De nition of consumers is different 0 The global marketing mix 0 Global productservice strategies Straight product extension I Standardizing no matter where the market is Product adaptation I Take a product and alter it a little bit to t the new market Product invention a Create a brand new product for this new market 0 Global pricing strategies Legislation Economic conditions Competitive factors a Who is it and what are their price points 0 Global distribution strategies Whole channel view D Seller s HQ n Channels between nations n Channels within nations In Intermediaries Numbers and types a Retail units abroad 0 Size and characteristics 0 Global communication strategies Literacy Language Culture and religion ex Krapp toilet paper Denmark Craspy fruit cereal France Zit lemonade Germany Pschitt lemonade France and Fartfull work bench Sweden Chapter 19 11172015 The Scope and Nature of Personal Selling 0 Twoway ow of communication 0 Your not talking at someone you are interested in building a relationship 0 Buyer and seller 0 In uence purchase decision Venues 0 Over the internet 0 Telephone 0 Facetoface 0 Video teleconferencing Personal Selling as a Career 0 Lifestyle 0 Variety Lucrative Visible The Value Added by Personal Selling Salespeople 0 Educate and provide advice 0 Save time and simplify buying 0 Build relationships The Personal Selling Process 0 Step 1 Generate and Qualify Leads 0 Source of leads Current customers Networking Internet Trade shows Cold calls Telemarketing o Qualify your leads Not all leads are good leads Making sure this actually a viable customer Step 2 Preapproach 0 Prior to meeting the customer 0 Extend quali cation 0 Set goals Step 3 Sales Presentation and Overcoming Reservations 0 Presentation Some sort of oneonone meeting 0 Handling reservations Step 4 Closing the Sale 0 Order 0 Stress o No Yes Step 5 FollowUp 0 Five service quality dimensions ReHabH y Responsiveness Assurance Empathy Tangibles Managing the Sales Force 0 Sales 0 Traits O 0000 Sales force structure management Sales managers are in charge of planning recruiting training motivating evaluations ect Company sales force a When the sales staff is internal to the rm Manufacturer s representative a Group or individual hired by the rm to sell on the rms behalf but aren t actually employees of the rm Salesperson duties I Order getter I Order taker a Sales support a At smaller rms the salespeople will do all three of these things but at larger rms there are people who specialize in each of these things Recruiting and Selecting Salespeople Personality Optimism Resilience Selfmotivation Empathy Sales Training Selling and negotiation techniques Product and service knowledge Technology Time and territory management Company policies and procedures Motivating and Compensating Salespeople 0 Financial rewards Bonuses are awesome but taxes are almost 50 o Non nancial rewards 0 Evaluating salespeople Reward structure Objective and subjective Ethical and Legal Issues in Personal Selling 0 The sales manager and sales force 0 The sales manager legally cannot discriminate on race gender ect The sales force and corporate policy 0 Sometimes corporate policy ask the sales force to do illegal things 0 The salesperson and the customer 0 Does the salesperson not disclose necessary information


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