Category: MARKETING

THE GLOBAL MARKETING AUDIT FOR MULTINATIONAL COMPANY

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A global marketing audit can be defined as a comprehensive,systematic and periodic examination of a company’s or business unit’s marketing environment,objectives,strategies, programs,policies and activities,which is conducted with the objective of identifying existing and potential problems and opportunities and recommending a plan of action to improve a company’s marketing performance.The global marketing audit is a tool ….  Read More

TYPES OF CONTROL COMMUNICATIONS IN CORPORATE WORLD

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Communications between home office and subsidiary in multinational companies can be divided into two broad categories: personal communication such as visits, meeting and telephone conversations and impersonal communications such as regular or ad hoc reports and budget plans. Control can focus on events before, during, or after a process. For example, a local automobile dealer ….  Read More

GLOBAL PRICING:THREE POLICY ALTERNATIVES FOR MULTINATIONAL COMPANY

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There are three alternative positions a company can take toward worldwide pricing.   (1)EXTENSION/ETHNOCENTRIC:– The first can be called an extension/ ethnocentric pricing policy.This policy requires that the price of an item be the same around the world and that the importer absorb freight and import duties.This approach has the advantage of extreme simplicity because ….  Read More

INTRODUCING NEW PRODUCTS IN NATIONAL MARKETS

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The major lesson of new-product introduction in foreign markets has been that whenever a product interacts with human , mechanical or chemical elements there is the potential for a surprising and unexpected incompatibility. Since virtually every product matches this description it is important to test a product under actual market condition before proceeding with full ….  Read More

GLOBAL BUSINESS DEVELOPING A MARKETING PLAN WITH 4 Ps

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The task of developing a marketing plan that would effectively promote Choufont-salva’s oral contraceptive was the responsibility of the company’s marketing committee. Deciding on a name for the tablets, selecting the packaging that would be used, determining the price that would be charged and deciding on what advertising and promotional activities to employ were among ….  Read More

GLOBAL MARKETING ANALYTICAL APPROACHES TO CULTURAL FACTORS

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The reason cultural factors are a challenge to global marketers is that they are hidden from view. Culture is learned behavior passed on from generation to generation and is difficult for the inexperienced or untrained outsider to fathom. Unless we learn how to let go of our cultural assumptions, we will be limited in our ….  Read More

EXPORT AND DOMESTIC MARKETING MANIA IN CORPORATE WORLD

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Export marketing is the first stage of addressing market opportunities outside the home country. The export marketer targets markets outside the home country and relies upon home-country production to supply product for these markets.   The focus in this stage is upon leveraging home-country products and experience. A sophisticated export marketer will study target markets ….  Read More

THE THREE PRINCIPLES OF MARKETING IN VALUE EQUATION

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The essence of marketing can be summarized in three great principles.The first identifies the purpose and task of marketing, the second the competitive reality of marketing, and the third the principal means for achieving the first two. CUSTOMER VALUE AND THE VALUE EQUATION The essence of marketing is creating customer value that is greater than ….  Read More

THE NEW CONCEPT OF MARKETING AND THE FOUR P’S

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Global marketing concept is not a new idea as our history says that ancient people also used the marketing concepts to carry out their primary needs.Today’s discussion tries to cover the modern concept of marketing strategies.The “new” concept of marketing, which appearedabout 1960, shifted the focus of marketing from the customer. The objective was still ….  Read More