International Marketing

nguyp035's version from 2016-05-16 16:34

Section 1

Question Answer
Marketing Myopia means...'Marketing is selling' it is a short sighted mind set.
Marketing is a..human activity directed at satisfying needs and wants through exchange processes
Customers needs and wants..change, competitors erode market share, environment makes old ideas redundant
Theodore levitt said marketing myopia is..a failure to see ahead in business (focus on the current - focus on product and not customer/ marketing orientated)
e.g. railways'transport' rather than trains/rail (good)
entertainment industry >experience rather than films
The railroads serve as an example of an industry whose failure to grow is due to a limited market view.Those behind the railroads are in trouble not because the need for passenger transportation has declined or even because that need has been filled by cars, airplanes, and other modes of transport. Rather, the industry is failing because those behind it assumed they were in the railroad business rather than the transportation business. They were railroad oriented instead of transportation oriented, product oriented instead of customer oriented.
An organization must learn to think of itself not as producing goods or services but as...doing the things that will make people want to do business with it.
Video explanation mere sighted focus on selling products rather than seeing big pictures of what consumers want.
consumers don't to buy a drill, they want a hole
railway road lines fell into decline as they thought they were in rail business rather than being providers of transportation. - instead of branching out to cars, trucks, they let other companies steal away their customers
oil and gas companies - think of themselves as energy providers - devote most of their resources to petroleum - if fail to develop alt fuels (will become company without industry)
blinded by future (thinking they are in growth industry, rather than capitalizing growth opportunities)
How to tacklethink about what business you're in - must satisfy customers - must identify new offerings to meet needs

Section 2

Question Answer
International marketingmarketing carried out across international boarders (+1 country)
International marketing is the...multinational process of planning and executing the conception, prices, promo and distribution of ideal goods and services to create exchanges that satisfy the individual and organisational objectives
Focus is cultureCulture can be viewed as the collective memory of society (shared meanings, rituals, norms and traditions among members)
Culture may shape...consumers overall priorities they attach to different activities and products
Emerging global consumer culture looks at...culture and subcultures which exist within and outside countries
marketers try to tailor marketing strategies to diffirent cultures (KFC in different countries - rice as main/curry)
euro disney had to adapt to french culture when opened in paris (wine for guests, breakfast, holiday season)
Subcultures also exist and different food outlets promote halal food in certain areas
Must also consider culture when making advertisements