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GLOBAL, B2B & SERVICE MARKETING > Global - (1.5) Characteristics of International Marketing Mix Elements > Flashcards

Global - (1.5) Characteristics of International Marketing Mix Elements Flashcards

1
Q

Give 3 global drivers of the shift in marketing mix decisions over the past decades

A

1) Advancements in tech
2) Socioeconomic and geopolitical shifts
3) Environmental changes

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2
Q

What are the most important stakeholder effects due to the 3 global drivers of the shift in marketing mix decisions?

A
  • DEMAND: NOVEL DEMANDS
    > Increased empowerment
    > Intensifying concerns
    > Global demand
  • SUPPLY: NOVEL MEANS AND OPP
    > New ways to manage value chain
    > New means to use data
    > Globalized value chain
  • LEGISLATURE: NOVEL REQUIREMENTS
    > New laws and regulations
    > Changing cross-national context
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3
Q

What are the major evolutions in the marketing mix?

A
  • Blurring roles and responsibilities for marketing mix
  • Extend and integrated view on the marketing mix instruments
  • Customization and fragmentation of marketing mix actions
  • Emerging-market recognition
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4
Q

What are the predicted future counter movements in the marketing mix?

A
  • Protecitionism around marketing mix instead of inter-firm collaboration
  • Back to basics: simplicity, consistency, control
  • Renewed appreciation for touch and feel after a period of automation and robotica
  • Globally uniform marketing mix strategies
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5
Q

Explain “meta analysis” =

A

statistical analysis of a large collection of analysis results from individual studies for the purpose of integrating the findings

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6
Q

What is the value of a meta analysis?

A
  • Basis for empirical generalizations
  • Value for managers: creates benchmarks instead of case study’s
  • Value for researchers:
    » combine and compare results = average effect
    » explain variations in observed effects
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7
Q

What are significant findings in the meta analysis of the marketing mix?

A

Advertising has an impact on sales, but more in the US than in Europa.
Personal selling has an impact on sales, but more in the US than in Europa.

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8
Q

Why are product decisions so crucial for other MM instruments?

A

Degree of standardization determines the degree of flexibility regarding the other MM instruments.

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9
Q

What are the most essential decision-making areas in product decisions?

A
  • Core product
  • Brand
  • Brand positioning
  • Packaging and design
  • Services extending beyond the core product
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10
Q

What are degrees in standardizing the core product?

A
  • DIFFERENTIATION = high degree of country-specific adaptation
  • MODULAR DESIGN = if a lot of customers have the same requirements, adaptation of individual modules (ex. left hand traffic)
  • BUILT IN FLEXIBILTY = applicability in the technical environment where the adaptation is often transferred to the customer
  • STANDARDIZATION = completely identical products
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11
Q

How to choose an international brand name?

A

Differentiated/Standardized Product X Differentiated/Standardized Brand Name
Key points:
* positive associations in all cultures
* pronounced in all cultures
* possible to trade mark in every culture
* registered as internet adress

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12
Q

Explain BRIC with its antecedents and consequences.

A

BRIC = brand relevance in category
» To which extent is the customer decision making influenced by the brand compared to the other decision criteria
* ANTECEDENTS
> Risk reduction
> Social demonstrance
* CONSEQUENCES
> Brand price premium = what consumers are able to pay more for your product
> Brand loyalty
> Brand equity

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13
Q

How is BRIC culturally linked?

A

The ranking of BRIC in countries is perfectly linkable with Hofstede dimensions.

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14
Q

Explain the role of foreign brands in brand crisis

A

Corporate Social Irresponsibility = schandalen, zaken die schade aanbrengen aan het brand image
Ex. Dieselgate - Volkswagen cheated pollution tests to drive in the US
» US: domestic CSI event by foreign brand
» Germany: foreign CSI event by domestic brand
» Actually a bit framing to make sure the brand doesn’t suffer too much
» Media coverage: less publications if its a foreign brand

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15
Q

What are aspects on standardization of brand positioning?

A
  • Brand core
  • Brand benefits
  • Brand personality
    » Especially valuable to standardize if values and attitutes of target segments in the different markets correspond to a high degree.
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16
Q

What are aspects on standardization of packaging and design?

A
  • Color
  • Shape
  • Labeling
  • Meaning of colors and shapes in cultures
  • Consider ecological conditions
17
Q

What are aspects on standardized services?

A
  • Warranties
  • Technical services
  • Information & consulting services
18
Q

What are major impact factors in pricing decisions?

A
  • Heterogenity of willingness to pay
  • Costs of obtaining international price information
  • Level of arbitrage costs
19
Q

Explain price adjustment scenario’s

A

It’s best to react pro actively on price differences between countries > do your best to converge them so the chances on arbitrage are lower.

20
Q

How to proactive hedge currency exchange risks?

A
  • Production in international markets
  • Billing in domestic country
  • Contractual hedge clauses
  • Hedging transactions like forward exchange operations and option contracts
    » Arrangements with temporary fixed rates
21
Q

How to react to exchange rate fluctuations?

A
  • In favor of company (= windfall profits) > no need to act, but possible to reduce prices.
  • At the expense of company:
    »Billing in domestic currency = necessity to reduce prices to keep prices in foreign currency constant
    »Billing in foreign currency = lower profit in domestic currency
22
Q

What are the Incoterms?

A

= International Commercial Terms
»Standardized agreements between sellers and customers, specifies the risks and costs of tranfers by each side (when does the risk go over ex. place of delivery)

23
Q

Give the findings of the study on international price sensitivities and the impact of culture by Kuebler et al.

A

Across countries there are different sensitivities for e-word of mouth and price promotions, this is all related to culture.
» Masculinity and uncertainty avoidance increase price sensivity.
» Individualism and uncertainty avoidance increase the rating valence sensitivity (being senisitive to changes)
» Power distance, uncertainty avoidance, GDP and income inequality increase the rating volume sensitivity.

24
Q

Describe the barriers for standardization in international communication management.

A
  • LANGUAGE
    > Brand name
    > Communication messages and misunderstanding
  • LEGAL REGULATIONS
    > Comparative advertising
    > Direct-to-consumer advertising
    > Disclosure policies
    > Censorships
  • CULTURE
    > Hofstede dimensions
    > Differences in behavior, social norms, values, religious aspects, interpretation of colors and humor
  • MEDIA INFRASTRUCTURE
    > Penetration of TV
    > Public or private media?
    > Penetration of internet connections
25
Q

How is the distribution of advertising spending changing in Europe and US?

A

Internet: growing in EU, dominating in US.
TV: constant in EU, growing in US.
Newspapers and magazines: go down.
Booming of online advertising:
» lower cost, better reach, interesting data which informs you about the efficiency of your advertising

26
Q

Define influencer marketing

A

Companies pay people, financially or in-kind, to produce social media content on behalf of the brands and influence consumers’ preferences and purchase decisions.

27
Q

What are good and bad points about influencer marketing?

A

GOOD
» higher trustworthiness than traditional advertising
» reaching consumers in non-commercial situations
» great targetting opportunities
» free choice between celeberties and small/local people

BAD
» Reactance towards commercial content (weerstand)
» Fraud
» Influencer scandals

28
Q

What are disclosure rools around influencer marketing?

A

Differ across regions! In general it is the most important that the content is marked with words like “gifted” “advertisement”, because the customer has to know that it goes about an influencer. No mis leading or abbreviated terms.

29
Q

Explain the areas of sales management with specific characteristics in an international context:

A
  • DESIGN AND STRUCTURE OF INTERNAT. SALES SYSTEM
    > Various channels
    > Direct sales are more difficult
    > Frequent use of sales intermediaries
  • DESIGN OF SALES ACTIVITIES
    > International sales negotiations
    > Major cultural differences
    > Typical behavioral patterns and negotiation styles
  • INTERNAT. SALES LOGISTICS
    > Distribution processes are more complex
    > Incoterms
  • RELATION TO SALES PARTNERS AND KEY ACCOUNTS
    > Low initial level of trust
    > Lower commitment level on the part of the partner

GLOBAL, B2B & SERVICE MARKETING (13 decks)

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