Global Marketing and Relationship Marketing

Question 1

Three reasons for global marketing:
Internal and external aspects affecting global marketing:

Answer 1

(Communication making world smaller, local market saturation, economies of scale)

Internal: -Cultural environment (Customers and businesses) Norms, rituals, beliefs
-Political/legal (Government values and political stability)
-Economic Environment (Income distribution/Economic sturcture[industrial, service, tech] Employment levels

External: International Trade Systeme (CETA , C. US. M. A, formerly known as Nafta)

Question 2

Global Marketing Mix:

Answer 2

Standardization vs Adapatation (Generally works to mass customization)
- Product (W,L,D),
Price (Value vs Econ),
Promotion (Soft vs hard),
Place (Selective vs intensive, ECR use)

Question 3

Relationship Marketing:

Answer 3

Relationship Marketing: Marketing is to establish, maintain, and enhance relationships with customers and others partners, at a profit, so that the objectives of the parties involved are met. This is achieved by a mutual exchange and fulfillment of promises.

-Networking, Relational(supported by marketing mix), Long term, dynamic parts, qualitative-continous-action[understand and respond], retention, Macro focuses(cultural, societal and organizational)

Question 4

Transactional Marketing:

Answer 4

Marketing is a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with each other.
-Transactions, reactionary marketing mix(supported by C.R.M/Big data), short term, static parts, quantitive (inform and respond), acquisition (repeat buy value), microfocus (organizational, product and service focused)

Question 5

Transaction- why marketing ‘is a’
Relationalo- why marketing ‘is to’

+Tm is better for and RM is better for

Answer 5

-transactional one treats marketing as an enduring commercial/economic exchange system in which consumers are just an element ( demand) to keep such exchange of products for value going on (a conservative living to consume attitude).
- The relational one however treats marketing as a means to an end where consumers are its masters continuously transforming the economic system to serve/adapt to their living needs (a liberal consume to live attitude).

TM= fast moving consumer goods and consumer durables
RM=B2b, and services