Lesson 9 digital/ international/ local marketing, standardizing or adapting, ...

Question 1

market metrics

Answer 1

• it is a measuring system to assess a condition or its revolution
• are standards of measurment by which efficiency performance, progress or quality of a plan, process or product can be assessed

Question 2

marketing accountability

Answer 2

refers to the use of metrics to link a firms marketing actions to financialy relevant outcomes and growyh overtime

Question 3

marketing audit focuses on 2 themes

Answer 3

1 marketing accountability

2 marketing metrics

Question 4

in the marketing accountability we avoid 4 pitfalls or business culture barriers

Answer 4

1. DENIAL; leads to marketing isolation, the CMO denies the need to be accountible (results will come on its own)
2. FEAR; marketing has ither a strong or weak performance. the CMO is tempted to avoid accountability. (hidding is better then claiming)
3. CONFUSION; there is no understanding of the basic metrics. the MCO knows marketing accountability is needed but not how to achieve it.
4. SMOKESCREEN; metrics lack an connection to companies objective. the MCO measures everything that can be easily measured

Question 5

why do we need metrics?

Answer 5

We need metrics to manage marketing activity through all the
phases of the management process: researching, planning &
decision, implementing & documenting and controlling &
adjusting

Question 6

Conditions for metrics?

Answer 6

• Robustness of the data (sources, methodology, precision,
  relevancy, representative,…)
• Scaling (targets, benchmarking, comparability)
• Adequacy (conform with the importance/urgency, the purpose)

Question 7

Pitfalls for metrics?

Answer 7

o Paralysis instead of Analysis
o Looking for excuses, alibis
o Jumping to conclusions
o Disconnecting from reality

Question 8

We measure performance with an holistic mind

Answer 8

emphasizing the importance of the whole as well as the

interdependence of its parts

Question 9

holistic mind can be

Answer 9

1. Inductive, Deductive and Abductive (source: philosophy)
2. Atomistic versus Organic (source: physics)
3. Emic versus Etic (source: anthropology)
4. Proximal versus Distal (source: anatomy)

Question 10

1. Deductive

Answer 10

o Applying a theory to a specific situation

o Illustrating the theory by a case study

Question 11

2. Inductive

Answer 11

o Creating theory from facts and figures

o Modelling the practice into re-usable models

Question 12

3. Abductive

Answer 12

o Intuitively come to the best conclusion based on incomplete data
o ‘educated guess

Question 13

Fermi-method

Answer 13

With existing observations from existing/new and secondary/primary data achieving the best available estimate based on acquired knowledge and expertise

Question 14

1. Atomistic

Answer 14

Study of the components: the details

Question 15

2. Organic

Answer 15

Study of the consistency: the relationships

Question 16

1. Etic

Answer 16

Study of the resemblance between concepts

Question 17

2. Emic

Answer 17

Study of the differences between concepts

Question 18

1. Proximal

Answer 18

Study of the direct consequences or relations

Question 19

2. Distal

Answer 19

Study of the indirect consequences or relations

Question 20

marketing audit

Answer 20

what can be improved in the markting approach? business review

Question 21

3 basic assessment of marketing audit

Answer 21

1. evaluation of micro and micro enviroment
   2 evaluation of marketing strategy
   3 evaluation of the market organisation itself

Question 22

market plan

Answer 22

shows what steps or actions will be taken to acheave goals

Question 23

digital marketing mix

Answer 23

the use of digital technologies for place promotion and for interactions and access

Question 24

the digital marketing mix uses

Answer 24

• phygital element; Physical (stores) and digital (sites)

- omnichannel; bricks and clicks

Question 25

issues of digital media

Answer 25

- privacy and security - addictive behalior (ethical) it is harder to avoid declining of the image, fame (eg. cyberbulling)

Question 26

international and interculural marketing mix differences

Answer 26

- international; administrative boundaries, issues transposed to other nations - intercultural; cultural bouderies, marketing management issues transposed to othe social groups

Question 27

international marketing evolved

Answer 27

- sales driven export - marketing driven export - multinational marketing ( think local act local) - Global marketing (think global act global- - Glocal marketing ( yhink global act local) - born global (globally distributed functions from the founding)

Question 28

issues of international marketing

Answer 28

- do we coppy past local marketing concept? | - do we take the international bussines seriously or occasionaly?

Question 29

issues of international marketing

Answer 29

- do we coppy past local marketing concept? | - do we take the international bussines seriously or occasionaly?

Question 30

2 dimentions of the international marketing

Answer 30

- involvement: the acing (opportunity vs inegrating) - perspective: the thinking (standarize vs adapt)

Question 31

standardize vs adapt dilemma | 2 studies

Answer 31

- etics studies: universal similarities, focus on comparability - emic studies: specific characteristics, focus on dissimilarities

Question 32

standardize vs adapt dilemma | 2 approaches

Answer 32

- erical approach: search for international, cultural themes in local market - emical approach: each culture has unique attributes, perseptions, motives and behavior we adapt local marketing

Question 33

Look to the problem as a ‘construct’: | • that can be diagnostically distinguished in:

Answer 33

1. Causes, what is the origin 2. Consequences, to what it leads, directly and indirectly (kind of long term consequences) 3. Symptoms, what we perceive (kind of short term consequences)

Question 34

How do we interpret data?

Answer 34

We interpret data from a double perspective: 1. Our attitude towards business (vertical axis) 2. Our attitude towards the benefits of ‘intelligence’ (horizontal axis)

Question 35

The 6 thinking hats (Edward de Bono)

Answer 35

The White Hat: strenghts & weaknesses The Green Hat: opportunities The Black Hat: caution, threats The Red Hat: affective intuition The Yellow Hat: silver lining The Blue Hat: manage the thinking process. 'Six Thinking Hats' guidelines are observed