International marketing

International marketing involves recognising that people all over the world have different needs. Companies like Gillette, Coca-Cola, BIC, and Cadbury Schweppes have brands that are recognised across the globe. While many of the products that these businesses sell are targeted at a global audience using a consistent marketing mix, it is also necessary to understand regional differences, hence the importance of international marketing. Organisations must accept that differences in values, customs, languages and currencies will mean that some products will only suit certain countries and that as well as there being global markets e.g. for BIC and Gillette razors, and for Coca-Cola drinks, there are important regional differences - for example advertising in China and India need to focus on local languages. Just as the marketing environment has to be assessed at home, the overseas potential of markets has to be carefully scrutinised. Finding relevant information takes longer because of the unfamiliarity of some locations. The potential market size, degree and type of competition, price, promotional differences, product differences as well as barriers to trade have to be analysed alongside the cost-effectiveness of various types of transport. The organisation then has to assess the scale of the investment and consider both short- and long-term targets for an adequate return.

Before becoming involved in exporting, an organisation must find the answers to two questions:

1. Is there a market for the product?
2. How far will it need to be adapted for overseas markets?

The product must possess characteristics that make it acceptable for the market - these may be features like size, shape, design, performance and even colour. For example, red is a popular colour in Chinese-speaking areas. Organisations also have to consider different languages, customs and health and safety regulations.

Standardisation

If a company offers a product, which is undifferentiated between any of the markets to which it is offered, then standardisation is taking place. The great benefit of standardisation is the ability to compete with low costs over a large output.

The diagram below illustrates the use of a standardised products and marketing mix:

In most markets, however, there are many barriers to standardisation. It is not difficult to think about the standard marketing mix for a product and how this might vary from one country to another. For example:

Product - tastes and habits differ between markets
Price - consumers have different incomes
Place - systems of distribution vary widely
Promotion - Consumers' media habits vary, as do language skills and levels of literacy.

With differentiated marketing, on the other hand, an organisation will segment its overseas markets, and offer a marketing mix to meet the needs of each of its markets.

The great benefit of standardisation is that costs are lowered, profitability is increased and the task of supplying different markets becomes substantially easier.

The diagram illustrates the process of adapting the marketing mix to meet the needs of different geographical markets:

However, it could also be argued that the success of many products in international markets has come about because marketers have successfully adapted their marketing mix to meet local needs.

To a large extent the standardisation/adaptation dilemma depends upon an organisation's view of its overseas markets and the degree to which it is prepared to commit itself to meeting the needs of overseas customers. There are three main approaches, which can be applied:

1. Polycentrism - with this marketing approach, a business will establish subsidiaries, each with their own marketing objectives and policies, which are decentralised from the parent company. Adaptation takes place in every market using different mixes to satisfy customer requirements.
   
2. Ethnocentrism - overseas operations are considered to be of little importance. Plans for overseas markets are developed at home. There is little research, the marketing mix is standardised and there is no real attention to different customer needs and requirements in each market.
   
3. Geocentrism - standardisation takes place wherever possible and adaptation takes place where necessary. This is a pragmatic approach.
   

A confectionery and soft drinks manufacturer like Cadbury Schweppes typically produces a range of standard items that are sold throughout the globe using similar marketing mix. However, differences may occur in such aspects as distribution channels and pricing as well as advertising in languages that are relevant to particular cultures. In addition such a company would produce some products which cater for particular tastes, and which are relevant to particular cultures. New products might then be tested in a regional area, before consideration of which other areas of the globe to roll out that product to.

• Standardisation - refers to manufacturing, marketing or employing other processes in a standard way.
  
• Differentiation - is the process of making products or aspects of the marketing mix different so as to appeal to different markets.

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Sumit Jaswal

Source: http://www.thetimes100.co.uk/theory/theory--international-marketing--241.php

Abell’s :: Three Dimensional Business Definition

The Three Dimensional Business Definition framework from Harvard Professor Derek F. Abell is a model that can be used for defining the business of a company. The definition of a business is an issue that should not be taken lightly. In his book "Defining the Business - The Starting Point of Strategic Planning" Abell says that the standard two dimensional way of looking at a business (products and markets) has serious flaws. He suggests a three dimensional model, with the following 3 axes:

 

1. Served Customer Groups. Categories of customers. (WHO)

2. Served Customer Functions. Customer needs. (WHAT)

3. Technologies Utilized. The way that the needs are being satisfied. (HOW)

 

For more info use this link:

http://www.12manage.com/methods_abell_three_dimensional_business_definition.html

 

Sumit Jaswal

Strategic Planning

 

OBJECTIVES

The objective of strategic planning is to achieve a sustainable competitive advantage that will deliver healthy profits. The strategic plan analyses the optimum fit between a business's resources and opportunities and takes into account how a business may, or will, need to adapt to thrive in a changing competitive environment. Strategic planning focuses on the medium- to longer-term future of a business, generally a time horizon of three to five years, or occasionally up to ten years.

 

Gary Hamel and C.K. Prahalad, two business strategists, advocate that strategy involves setting goals that stretch the business, but the strategic planning element of a business plan should focus on the tangible and concrete rather than the aspirational.

 

For a new business, the strategy is the foundation on which the business plan is built. For a business being developed within an existing business, the strategy behind the new business must fit with the overall strategy of the existing business. The marketing strategy will be either implicit in the strategic plan or an explicit subsection of it.

 

APPROACHES TO STRATEGIC PLANNING

All businesses have a strategy, be it implicit or explicit. At its simplest, the strategic plan is a description of what the business is doing and the rationale behind it. In larger businesses, strategic planning has become a formalised process with a department dedicated to that process. In other cases, strategy is part of the marketing function, that is, strategic planning is synonymous with strategic market planning.

 

Some authors distinguish between "prescriptive" and "emergent" approaches to strategic planning. The prescriptive approach emphasises the sequential nature of the planning process as shown in Chart 4.1. This implies that analysis and strategy selection are distinct from implementation.

 

The emergent approach is more experimental – a strategy is constantly adjusted in the light of operational reality. This implies a more short-term tactical approach to planning. In practice, the difference between the two approaches may simply be the frequency of reviews. Although it would be wrong to follow blindly a prescribed course once it has been set, a "flavour of the month" supposedly emergent approach to strategy makes organisational life extremely difficult.

 

A business plan should involve a prescriptive approach because it relates to a point in time at which the business plan is made.

 

 

Hii

This was an SEM assignment that i have done for the Marketing Research & Consumer Behavior.. I have not yet got any response from the faculty on this.. meanwhile i thought i share this with u guys.. Hope u like it and it is help for you all. If there are any places where there is a improvement required please let me know..

Thank you
Sumit Jaswal

Download::
http://rapidshare.com/files/65828413/Final_Survey_Report.pdf

The Future is Here :: Online Adveristing Presntation

Hii



this is the Presentation (PDF Format) that i have presented in my Marketing Class a few days ago. Some of the slides had notes on them. i Have included them too.. the Last slide "my Vision of Future" what i think the future will be like in for indian in terms of Internet and Computers.
anyone who has anything to add or they may have a different view may be post their views here.



Review on this presentation

"One of the best projects of online advertising on MP. You must be proud of
this presentation. Great work sumit. :-)"

- ManagementParadise.com

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Silde 02

28 million is small proportion of total Indian population.18-45 maximum buying power. 100 million users will be online by 2009-10 (very Optimistic).
We also have to look at the online active users.
An active user is the one who has been online once in last 30 days.
The percentage of Active Users to the total Indian Online is too small.
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Slide:03

Data form IAMAI (Internet and Mobile Association of India) shows that there has been a greater increase in the Online ad Market over the past 3 years.The market has grown more than 35% more the past 3 year. Online Advertising is right now 1.7% of the total Advertising Industry in India.

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Silde 15

MY VISION OF FUTURE

These will the changes that we'll see in our daily livesin some time to come... i mean like 2 or 3 years time..


Internet and Computer


Internet :
• Internet will be free,
• Caltiger in 2001 was offering free ISP service to the consumers.
• Business Model Exist. Money will be made from Ads, Internet Telephony and other services offered to both End Consumers and Business.
• Coming 3G will make internet mobile and that too at broadband speed (340 kbps Max)
• DTH (Direct To Home) will carry Internet into our homes and also Satellite TV will go HD (High Def).
• We can see this happening the 3-4 year to come. 3G – possibly next year.


Computers:

• Computers will get more portable. Already Laptops are getting smaller and powerful by the day. There are handheld computers what work as like anyother desktop or Laptop today.. however the price of such computers are way out of reach of the regular user.. but fact is tht the technology exists for making computers much smaller than what they are.
• Mobile phone: are able to do what almost every computers can do.
• Nokia N-Series Ad says: 'Is this what computers has become'
• I see that the fundamental design of the computer will change.
Example: Concept of wearable computers
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Sumit Jaswal

Download:

http://rapidshare.com/files/65822380/Advertising.pdf

The TATAs

Some how over the last few months i have been thinking of writing something related to TATAs. Everytime i saw Ratan Tatas pic on TV or in Newspaper i some how got inspired and wondered what will be running in his head.
I have always repected TATA for the way they do business (better than the Ambanis), Ratan Tata has always been think ahead of his time. It was the time of Tata's Indica Car when everyone was saying the old man has gone nuts in his head. Now who is having the final laugh. Cut in to recent past while buying Off Corus people said where will he get the money from. By the looks of all this it seems that they have managed it pretty well. And now come the One lakhs Rupee car. i am sure Ratan Tata has thought over it better than what everyone things.
From my side on my blog i will post articles about the TATAs. For the 1st installment here is the brife history of TATAs form the Wikipedia.

Tata Steel was established by Indian Parsi businessman Jamshedji Tata in 1907 (he died in 1904, before the project was completed). Tata Steel introduced an 8-hour work day as early as in 1912 when only a 12-hour work day was the legal quirement in Britain. It introduced leave-with-pay in 1920, a practice that became legally binding upon employers in India only in 1945. Similarly, Tata Steel started a Provident Fund for its employees as early as in 1920, which became a law for all employers under the Provident Fund Act only in 1952. Tata Steel's furnaces have never been disrupted on account of labour strike and this is an enviable record of sorts.

Tata's track record of good works and social awareness has become tarnished in recent years with complaints about heavy handed tactics to clear land for factories. In one incident in 2006, protesters were fired upon by police and it was reported that security staff hired by Tata were involved in the rape of a teenage girl.

The company is facing increasing criticism that the drive for growth and profits is completely overshadowing its once famed philanthropy and causing lasting social and environmental damage. Tata Steel has been most recently condemned by environmentalists for its plans to build a vast port close to the world's largest breeding grounds for an endangered species of turtle.

Environmentalists say Tata's plan to construct a new "megaport" at Dhamra on the eastern coast of Orissa will damage the habitat of the olive ridley turtles which breed on nearby beaches of the Gahirmatha Marine Sanctuary. This sanctuary is one of very few such sites in the world and each year more than 100,000 olive ridley turtles come here to nest.

Come back for more....

Sumit Jaswal

Marketing Management eBook

hii there,

I have been asked over and over again Philip-Kotler---Marketing-Management book. the fact was that i was looking for this book for a long time. this time i manage to get a good copy of this ebook. at the same this I know that downloading stuff is difficult on our network. That is why I've made sure that the file is posted on some other webserver other than RapidShare.

http://fileho.com/download/483a44855420/Philip-Kotler---Marketing-Management-2002-.pdf.html

Enjoy Maadi

Sumit Jaswal