Cross cultural marketing
Lecture 1
Market:
Place where things are bought and sold
Where buyers meet sellers
About attracting, serving them well, making a profit
Types of markets:
1. B2C (Business to Consumer)
2. Industrial markets
3. B2B (Business to Business)
4. Not-for-profit Markets (e.g. charities)
5. Government Markets (kind of B2B, but delivered by the government itself to people by roads
etc., and the Government is also a consumer, because they need other companies)
6. Reseller Markets (not producing them self, but making it accessible for the consumer group)
7. Overseas Markets
8. Internal Markets (about connecting within the organization, e.g. one part of the company
gets paid, to provide something for another part of the company)
Marketing: 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
Origin of marketing:
I have something and somebody else has something I want, so we can might make an exchange. But
later, the supplier has to convince others they have the best goods
Shift from the supply-led market to demand-driven:
Big functions of marketing (marketing activities):
1. Marketing research – where an who are we now
2. Objective setting – where an who we want to be
3. Marketing tasks – how we are going to make it happen
4. Feedback – How we keep track of things
,Marketing tasks:
Promotion
Sales
Pricing
Distribution
Product management
Branding
Planning
Staff / training
Customer service / management
Market entry
Development of marketing:
2000 Today
Traditional advertising Traditional advertising
Branding Branding
Customer Relationship Customer Relationship
management management
E-commerce E-commerce
Direct-Mail Direct-Mail
Tradeshows and Events Tradeshows and Events
Marketing / Sales people have a good chance to become a CEO, odds are bigger (marketing people
are often valued)
Strategic Orientations in marketing:
Production orientation
focus on production efficiency
emphasis on economies of scale: min the unit cost
Get bulk discount on component (so more cost effective way)
you might need to optimize the product range (might be a downside)
Product orientation
focus on product characteristics
Make the best possible product
Good quality
Sales orientation
focus on sales promotion
invest in training (e.g. of salespeople)
offer a lot of deals (e.g. buy 1, get 1 free)
make the best possible product
good quality
Market / consumer orientation
Focus on customers and competitors (so look at needs of consumers ad how the
competitors are doing, so they can get better than their competitors)
take market research seriously
know customer needs
, care for customer satisfaction
Improve customer loyalty
Societal marketing orientation (care about what happens in the society)
focus on the long-term well-being of consumers
Care about environmental sustainability, social impact, and philanthropy
A company can also be focused on multiple strategic orientations at the same time
Consumerism: It is economically desirable to consume more than enough of everything
this comes with downsides (e.g. obesity, landfills)
Ethical consumption: challenges consumerism and asks, ‘is it ethically desirable?’
Sustainable development goals UN:
Lecture 2
Where we focus on (who, where etc. we are), will matter
you might need differences in marketing when focusing on different markets (e.g. focus on price,
sustainability or quality)
Or sometimes you have to decide not to enter certain markets, as it wouldn’t sell there
To decide what to do, you need to
understand the marketing environment
PRESTCOM framework (acronym for
environmental factors):
Macro factors is more what is going on in
a country (this is where PREST is about)
, P is about the political situation, e.g.;
Government
special interest, lobbying and pressure groups
Trade unions
Political parties
R = regulatory so hoe things are arranges over there
Laws
Codes of practice
Customary practice
E = economy
Employment levels
Interest rates
Improvements in technological
Inflation
S= what is happening in the population (Social), e.g.
Population growth
Demographic trends
Attitude changes
Patterns of behavior
T= technology (improvements in technological infrastructure);
Information
Communication
Transportation
Production
COM is about the micro factor; what is happening in the market.
C = competition levels:
Direct competitors: with similar products (e.g. Coca cola vs Pepsi)
Close competitor: with alternative products (e.g. Fanta vs cola)
Substitutes: products with similar functions )e.g. McDonalds vs domino’s)
Indirect product: replacing the product (e.g. luxury shoes vs luxury bag)
O = organization (internal environment of the organization
Staff/skills
Finance
Location
Brand image
M = Market, this is about the customers
- Needs
Tastes
