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Economics and Management Notes International Marketing Notes

International Marketing Notes

Updated International Marketing Notes

International Marketing Notes

International Marketing

Approximately 44 pages

Benefit to buyer - very concise, sourced from a variety of readings, easy to interpret
Note taking style - short, accurate bullet points, topic by topic
Content - Introduction to Marketing, Profiling, Consumer Motivation, The Marketing Mix (4Ps), Loyalty and Retention, Global Marketing...

The following is a more accessible plain text extract of the PDF sample above, taken from our International Marketing Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:

Lecture 1 – Introduction to Marketing

Recap of Lecture and Class Slides

  • Role of marketing?

    • Plato: in an economy of specialisation, we need an established marketplace and an acceptable communication. Marketing = link between production and consumption

      • Latent demand -- (marketing) Effective demand

    • Drucker: the only business purpose is to create a consumer. Thus, the only two functions are innovation and marketing.

  • Narver and Slater – market orientation can be of three types:

    • Customer, Competitor (or inter-functional coordination)

  • Change in media

Globalisation Localisation Digitisation Fragmentation
One to many One to few One to one Many to many
Traditional Segmented Customised e.g. YouTube
  • Post Recession Trends

    • Simplify, Ethical Governance, Trift, Less loyalty

Lambin

  • Strategic marketing

    • About identifying and creating opportunities for the firm

  • Operational marketing

    • About achieving a target market share through tactical means

  • Marketing = culture + analysis + action

  • Orientations:

    • Product Orientation with Passive marketing

      • Good quality products sell themselves. Standardized products industry, such as technology, commodities etc.

      • Marketing takes a backseat to operations, finance etc.

    • Sales Orientation with Operational marketing

      • Customers need to be convinced strongly about buying the product. Focus on firm rather than customer satisfaction.

      • Sales teams need to achieve targets of the firm.

      • Important component: ACTION

    • Customer orientation with operational-strategic marketing: FMCG

      • Need to find niche markets, target segments of customers

      • Marketing important – to find goals and to achieve them

      • Important component: ANALYSIS

    • Market orientation with Market-driven management

      • Emphasis on globalisation of markets, culture similarities and differences and sustainability of environment

      • Important component: CULTURE

  • The majority rule fallacy = core market saturation

Webster Jr.

Marketing focus is changing from firms to customers

“market-as-network” perspective: actors and relationships matter more than the product

happened because the corporate level has given way to smaller, localised SBUs

Webster Jr. and Co.

Market is in disintegration instead of integration (see above)

Problems Solutions
Uncertain definition of marketing A way to measure marketing productivity
Inability to measure Long-term instead of short-term focus
Increased demands of CRM Involve marketing in innovation
Moving resources to sales Building brand equity
Limited role at firms, pushed down to SBUs

Levitt

Marketing Myopia – sustained growth depends on how broadly you define your business and how carefully you gauge your customer’s needs.

The marketing effort should be customer, not product oriented.


Lecture 2 – Market Profiling And Strategic Marketing Analysis

Recap of Lecture and Class Slides

  • Positioning school of strategy

    • Generic strategies: economic + competitive marketplace

    • Early military writings, consulting, analysing

  • Marketing warfare strategies

    • Market leader wants to increase PIE, protect and increase his share of PIE

    • Market challenger only wants to increase his share of PIE to be leader

  • Consultancy models

    • Match firms capabilities with environmental opportunities for optimum resource allocation

Firm’s competitiveness Market’s potential
BCG Product Portfolio Matrix Relative market share Market growth rate
GE Business Screen Business strength Industry attractiveness
Shell Directional Policy Matrix Competitive capabilities Sector profitability
Ansoff’s Growth Matrix Product Market
  • Use cash cow to invest in ? to become a *

  • Wind and Mahajan (1981) – two different businesses with different factors could find themselves on same position merely because of summed-up scores – don’t rely on this!

  • Kralgic’s Supplier Portfolio Management: (i.e. how a firm should purchase)

    • Exploit: if buyer dominant

    • Diversify: if suppliers dominant

    • Balance: if neither dominant

  • Porter’s Model of Competitive Analysis – not for small, fragmented markets or retailers

Chandler “structure follows strategy”, therefore:

I. Analyse and choose industry to compete in II. Analyse and choose firm’s strategy III. Implement strategy by managing activities

  • 5-forces, generic strategies, value chain analysis

  • Mintzberg’s generic strategies (LISQDU)

Low price Image Support Quality Design Undifferentiation
Ryanair Gucci Dell M&S Pharma Petrol stations

Brassington and Petit

  • Corporate strategy – to control and coordinate all operations toward firm strategy

  • Competitive strategy – how to create and maintain a SCA in face of competition

  • Marketing strategy – defines target markets and what to do within them

  • Influences on marketing strategy

    • Organisational resources and objectives – strive towards a common goal

    • Attitudes to change and risk – tolerance or risk and innovation for marketing

    • Market structure and opportunities – stable, aggressive or complacent markets? Innovation and the entrance of foreign firms may make a market dynamic

    • Competitor strategies

  • Strategic marketing analysis – need to view holistic product portfolio

    • The Boston Box

    • Market attractiveness model: the GE matrix

    • Shell’s directional policy matrix

  • Growth strategies for marketing

    • Intensive growth

      • Market penetration – increase sales volume by aggressive marketing

      • Market development – sell existing product to new markets

      • Product development – sell new/improved products to existing markets

    • Diversified growth

      • Spreads risk and allows synergies between resources. But may fail if positioned against existing specialist providers

        • Concentric diversification – theres a link between old and new

        • Conglomerate diversification – everything is new

    • Integrative growth

      • Staying within the same value chain but entering new roles/processes to gain greater control or to expand it.

        • Backward integration – to guarantee quality of supplies

        • Forward integration –...

Buy the full version of these notes or essay plans and more in our International Marketing Notes.