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Summary Cross Cultural Marketing International Business Administration
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Summary Cross Cultural Marketing International Business Administration
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Cross cultural marketingTable of Contents
Lecture 1: Introduction to Marketing.............................................................................................................................4
Analysis of the environment or Marketing Audit.......................................................................................................4
Marketing environment models.................................................................................................................................5
Marketing and Globalization......................................................................................................................................7
Lecture 2: Consumer Behavior........................................................................................................................................9
Values..........................................................................................................................................................................9
Influences on consumer buyer behavior....................................................................................................................9
Different types of buying decisions: different product different behavior..............................................................12
Levels of involvement...............................................................................................................................................13
FCB (Foot Cone Belding) GRID..................................................................................................................................14
What is loyalty?........................................................................................................................................................16
What is putting the customer off?............................................................................................................................19
Culture and loyalty – can be about BRAND, PRODUCT, STORE................................................................................19
Lecture 3 > Babboe.......................................................................................................................................................19
Lecture 4: Marketing and Culture.................................................................................................................................20
Cultural differences and similarities: Classes and Zones..........................................................................................20
Benefits of Culture....................................................................................................................................................22
Pitfalls of culture.......................................................................................................................................................22
Eliminating self-reference criteria bias.....................................................................................................................22
Terms to know..........................................................................................................................................................23
The “Contents” of culture: The iceberg analogy......................................................................................................23
Major sources of culture...........................................................................................................................................24
Cultural affinity zones and classes............................................................................................................................25
Which cultural products can benefit from global marketing?.................................................................................25
Consumer culture positioning..................................................................................................................................25
Robertson: Glocalization...........................................................................................................................................26
Lecture 5: Marketing research......................................................................................................................................28
Research process......................................................................................................................................................28
Research ethics.........................................................................................................................................................28
Research techniques.................................................................................................................................................29
Qualitative versus quantitative research..................................................................................................................30
Cross cultural research.............................................................................................................................................31
Ansoff Growth Matrix...............................................................................................................................................31
Porter generic competitive strategy.........................................................................................................................32
Tracey and Wiersema: Value competition...............................................................................................................32
Lecture 6: STP................................................................................................................................................................34
Criteria for determining good market segments......................................................................................................34
Segmentation approaches........................................................................................................................................34
Segmentation criteria...............................................................................................................................................35
Global segmentation: which countries to select?....................................................................................................36
International segmenting and targeting...................................................................................................................36
Targeting strategies..................................................................................................................................................37
Positioning strategies...............................................................................................................................................38
Stages of STP.............................................................................................................................................................39
2
, Marketing Mix > 4 P’s...............................................................................................................................................40
Intercultural marketing strategy..............................................................................................................................40
Lecture 7: Products and services...................................................................................................................................41
The total product offering........................................................................................................................................41
Product lifecycle (PLC)..............................................................................................................................................42
Boston consulting group portfolio matrix (BCG)......................................................................................................43
Characteristics of services........................................................................................................................................44
Experiential marketing..............................................................................................................................................44
From 4 to 7 P’s..........................................................................................................................................................45
Service quality dimensions (rater dimensions)........................................................................................................46
Service dominant logic (Vargo & Lusch 2008)..........................................................................................................47
International product lifecycle.................................................................................................................................47
To adapt or not to adapt?.........................................................................................................................................47
Lecture 8: Promotion....................................................................................................................................................49
Promotion mix..........................................................................................................................................................49
Promotional strategy................................................................................................................................................49
Integrated marketing communication......................................................................................................................50
Communication process...........................................................................................................................................50
Steps of marketing communication.........................................................................................................................51
Advertising appeals & elements...............................................................................................................................53
Lecture 9: Place.............................................................................................................................................................57
Distribution Channels...............................................................................................................................................57
Overseas operations and market entry options.......................................................................................................58
Mass marketing or selective marketing?..................................................................................................................59
“The servicescape”...................................................................................................................................................60
Lecture 10: Price...........................................................................................................................................................64
Different views of pricing..........................................................................................................................................64
Pricing objectives......................................................................................................................................................64
Price setting..............................................................................................................................................................64
Pricing strategy.........................................................................................................................................................65
International pricing strategy: 5 key factors............................................................................................................66
Promotional pricing..................................................................................................................................................66
Changing the price....................................................................................................................................................67
Price elasticity of demand: a measure of price sensitivity.......................................................................................67
Price is not as objective as we think!........................................................................................................................68
Bargaining.................................................................................................................................................................68
Price as a cue for quality...........................................................................................................................................68
Price seeking if you haven’t got a clue.....................................................................................................................68
4 definitions of value................................................................................................................................................69
Total cost for a consumer.........................................................................................................................................69
Price can be more than just economic.....................................................................................................................69
Price adaptations, even to “fixed” prices.................................................................................................................69
Gourville: Pricing to create shared value.................................................................................................................70
Yield management....................................................................................................................................................70
Prospect theory Kahneman and Tversky (1992)......................................................................................................70
Lecture 11: Branding.....................................................................................................................................................71
What is branding?.....................................................................................................................................................71
Brand equity.............................................................................................................................................................72
, Censydiam model – Ipsos.........................................................................................................................................76
Brand relationships (Fournier, 1998)........................................................................................................................76
Brand types...............................................................................................................................................................76
Brand architecture....................................................................................................................................................77
Brand strategies........................................................................................................................................................77
Brand loyalty and engagement.................................................................................................................................78
How to become a strong brand?..............................................................................................................................78
Brand names.............................................................................................................................................................78
Global branding........................................................................................................................................................79
4
, Lecture 1: Introduction to Marketing Marketing is the activity, set of institutions and
processes for creating, communicating, delivering and exchanging offerings that have value for
customers, clients, partners and society at large.
Marketing is about creating value > exchange of value.
Basics of marketing
Customer orientation: focus on customer needs
Organizational integration: good marketing not only responsibility of the marketing department
but of every part of a company
Mutually beneficial exchange: balance between customer needs and organization needs
Analysis of the environment or Marketing Audit
Obtaining and analyzing information that is relevant to the marketing strategy,
tactics and implementation phase of your plan.
Monitoring changes in the environment helps a company to spot key
opportunities and threats and forms the basis for sound marketing planning.
In marketing you need to understand by knowing what is happening around
you.
So, you need to analyze the environment.
Key environments to monitor:
P olitical
R
egulatory
E
conomic
S ocial
T
echnological
C
ompetition
O
rganization
M arket
+
Curren
cy
Culture
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