Cross Cultural Marketing Lectures Summary

Cross cultural marketing
Lecture 1
Market:

 Place where things are bought and sold
 Where buyers meet sellers
 About attracting, serving them well, making a profit

Types of markets:

1. B2C (Business to Consumer)
2. Industrial markets
3. B2B (Business to Business)
4. Not-for-profit Markets (e.g. charities)
5. Government Markets (kind of B2B, but delivered by the government itself to people by roads
etc., and the Government is also a consumer, because they need other companies)
6. Reseller Markets (not producing them self, but making it accessible for the consumer group)
7. Overseas Markets
8. Internal Markets (about connecting within the organization, e.g. one part of the company
gets paid, to provide something for another part of the company)

Marketing: the activity, set of institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at large

Origin of marketing:
I have something and somebody else has something I want, so we can might make an exchange. But
later, the supplier has to convince others they have the best goods

Shift from the supply-led market to demand-driven:




Big functions of marketing (marketing activities):

1. Marketing research – where an who are we now
2. Objective setting – where an who we want to be
3. Marketing tasks – how we are going to make it happen
4. Feedback – How we keep track of things

,Marketing tasks:

 Promotion
 Sales
 Pricing
 Distribution
 Product management
 Branding
 Planning
 Staff / training
 Customer service / management
 Market entry

Development of marketing:

 2000  Today
Traditional advertising Traditional advertising
Branding Branding
Customer Relationship Customer Relationship
management management
E-commerce E-commerce
Direct-Mail Direct-Mail
Tradeshows and Events Tradeshows and Events


Marketing / Sales people have a good chance to become a CEO, odds are bigger (marketing people
are often valued)

Strategic Orientations in marketing:

 Production orientation
 focus on production efficiency
 emphasis on economies of scale: min the unit cost
 Get bulk discount on component (so more cost effective way)
 you might need to optimize the product range (might be a downside)
 Product orientation
 focus on product characteristics
 Make the best possible product
 Good quality
 Sales orientation
 focus on sales promotion
 invest in training (e.g. of salespeople)
 offer a lot of deals (e.g. buy 1, get 1 free)
 make the best possible product
 good quality
 Market / consumer orientation
 Focus on customers and competitors (so look at needs of consumers ad how the
competitors are doing, so they can get better than their competitors)
 take market research seriously
 know customer needs

,  care for customer satisfaction
 Improve customer loyalty
 Societal marketing orientation (care about what happens in the society)
 focus on the long-term well-being of consumers
 Care about environmental sustainability, social impact, and philanthropy

A company can also be focused on multiple strategic orientations at the same time


Consumerism: It is economically desirable to consume more than enough of everything
 this comes with downsides (e.g. obesity, landfills)

Ethical consumption: challenges consumerism and asks, ‘is it ethically desirable?’

Sustainable development goals UN:




Lecture 2
Where we focus on (who, where etc. we are), will matter
 you might need differences in marketing when focusing on different markets (e.g. focus on price,
sustainability or quality)

Or sometimes you have to decide not to enter certain markets, as it wouldn’t sell there

To decide what to do, you need to
understand the marketing environment

PRESTCOM framework (acronym for
environmental factors):

Macro factors is more what is going on in
a country (this is where PREST is about)

, P is about the political situation, e.g.;

 Government
 special interest, lobbying and pressure groups
 Trade unions
 Political parties

R = regulatory so hoe things are arranges over there

 Laws
 Codes of practice
 Customary practice

E = economy

 Employment levels
 Interest rates
 Improvements in technological
 Inflation

S= what is happening in the population (Social), e.g.

 Population growth
 Demographic trends
 Attitude changes
 Patterns of behavior

T= technology (improvements in technological infrastructure);

 Information
 Communication
 Transportation
 Production

COM is about the micro factor; what is happening in the market.

C = competition levels:

 Direct competitors: with similar products (e.g. Coca cola vs Pepsi)
 Close competitor: with alternative products (e.g. Fanta vs cola)
 Substitutes: products with similar functions )e.g. McDonalds vs domino’s)
 Indirect product: replacing the product (e.g. luxury shoes vs luxury bag)

O = organization (internal environment of the organization

 Staff/skills
 Finance
 Location
 Brand image

M = Market, this is about the customers

- Needs
 Tastes