International Marketing

Tổng hợp các câu hỏi trong bộ môn marketing quốc tế bằng tiếng anh của trường đại học Kinh tế quốc dân. Define strategic planning and briefly describe the four steps that lead managers and the firm through the strategic planning process. Discuss the role marketing plays in this process. Explain the main contents of an international marketing plan

Discussing the concepts Chapter1: 1.What is marketing and what is its primary goal? What is export marketing? What is international marketing? What is global marketing? What is international marketing management? Explain the concept “global localization” Marketing is a management function, a process by which companies create value for customers and build strong customer relationships to capture value from customers in return Primary Goal: – – Create value for customers and build customer relationships from understanding the marketplace and customer needs Capture value from customers in return Export marketing includes the management of marketing activities for products which cross the national boundaries of a country, the scope of export marketing involves the only activity of exporting cargo/commodities and services International marketing is the application of marketing principles in more than one country, by companies overseas or across national borders the scope of international marketing involves setting up of the overseas branch for processing, assembling, packaging & direct manufacturing International marketing run through direct investment, joint ventures and collaborations turn-key projects Export marketing will respond to domestic market competition whereas international marketing will not respond to the interest of the domestic market Global marketing: Global marketing is more than simply selling a product internationally Rather, it includes the whole process of planning, producing, placing, and promoting a company’s products in a worldwide market Large businesses often have offices, factories at different location in the foreign countries they market to, but with the expansion of the Internet, even small companies can reach customers throughout the world International Marketing Management is the management of companies’ marketing process It is the art and science of selecting target markets and building profitable relationships from target market globally and is consistent with the companies’ decisions on: Company’s Strategies Company’s International Business Strategies International Entry Strategies Global Localization (Glocalization) means customizing a product or service offered by a global entity, according to consumers of specific region It is is the adaptation of international products around the particularities of a local culture in which they are sold The process allows integration of local markets into world markets 2.Compare and contrast customer needs, wants, and demands Describe the market offering, customer value and satisfaction, exchange and relationships Explain the difference between share of customer and customer equity Needs Wants Demands States of felt deprivation The form human needs take as When backed by buying power, They include basic physical needs they are shaped by culture and wants become Demands Given for food, clothing, warmth, and individual their wants and resources, safety; social needs for belonging personality people demand products with and affection; and individual needs An American needs food but benefits that add up to the most for knowledge and self expression wants a Big Mac, french fries, and value and satisfaction Marketers did not create these a soft drink A person in Papua needs; they are a basic part of the New Guinea needs food but wants human makeup taro, rice, yams, and pork Wants are shaped by one’s society and are described in terms of objects that will satisfy those needs Market offerings: Some combination of products, services, information, or experiences offered to a market to satisfy a need or want Market offerings are not limited to physical products They also include services — activities or benefits offered for sale that are essentially intangible and not result in the ownership of anything Examples include banking, airline, hotel, tax preparation, and home repair services Customer Value and Satisfaction: Consumers usually face a broad array of products and services that might satisfy a given Need To choose among these many market offerings customers form expectations about the value and satisfaction that various market offerings will deliver and buy accordingly Satisfied customers buy again and tell others about their good experiences Dissatisfied customers often switch to competitors and disparage the product to others Marketers must be careful to set the right level of expectations If they set expectations too low, they may satisfy those who buy but fail to attract enough buyers If they set expectations too high, buyers will be disappointed Customer-perceived value: The difference between total customer value and total customer cost Customers compare their perceived values among companies to make buying decision Customer satisfaction: The extent to which a product’s perceived performance matches a buyer’s expectations Exchange is the act of obtaining a desired object from someone by offering something in return In the broadest sense, the marketer tries to bring about a response to some market offering The response may be more than simply buying or trading products and services A political candidate, for instance, wants votes, a church wants membership, an orchestra wants an audience, and a social action group wants idea acceptance Marketing consists of actions taken to build and maintain desirable exchange relationships with target audiences involving a product, service, idea, or other object Beyond simply attracting new customers and creating transactions, companies want to retain customers and grow their businesses Marketers want to build strong relationships by consistently delivering superior customer value Share of Customer The portion of the customer’s purchasing that a company gets in its product categories Customer Equity The total combined customer lifetime values of all of the company’s customers It’s a measure of the future value of the company’s customer base Clearly, the more loyal the firm’s profitable customers, the higher its customer equity Customer equity may be a better measure of a firm’s performance than current sales or market share Whereas sales and market share reflect the past, customer equity suggests the future For example, Amazon.com is highly skilled at leveraging relationships with its 88 million customers to increase its share of each customer’s purchases Originally an online bookseller, Amazon.com now offers customers music, videos, gifts, toys, consumer electronics, office products, home improvement items, lawn and garden products, apparel and accessories, jewelry, tools, and even groceries In the 1970s and 1980s, Cadillac had some of the most loyal customers in the industry To an entire generation of car buyers, the name Cadillac defined American luxury But cadillac customers were getting older (average age 60) and average customer lifetime value was falling Although Cadillac’s market share was good, its customer equity was not To increase customer lifetime value and customer equity, Cadillac needs to come up with more stylish models and marketing that can attract younger buyers 3.Explain how a company designs a customer-driven marketing strategy What are the five different marketing management orientations? To design a customer-driven marketing strategy Companies need to answer two questions: What customers will we serve (what’s our target market)? Target customers are customer groups that company choose to serve The company must first decide whom it will serve It does this by dividing the market into segments of customers (market segmentation) and selecting which segments it will go after (target marketing) Some people think of marketing management as finding as many customers as possible and increasing demand But marketing managers know that they cannot serve all customers in every way By trying to serve all customers, they may not serve any customers well Instead, the company wants to select only customers that it can serve well and profitably For example, Nordstrom profitably targets affluent professionals; Dollar General profitably targets families with more modest means How can we serve these customers best (what’s our value proposition)? The way to serve target customers is the way a company differentiate and the way it positions in the market The company must also decide how it will serve targeted customers—how it will differentiate and position itself in the marketplace A brand’s value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs Such value propositions differentiate one brand from another They answer the customer’s question, “Why should I buy your brand rather than a competitor’s?” Companies must design strong value propositions that give them the greatest advantage in their target markets For example, the Smart car is positioned as compact, yet comfortable; agile, yet economical; and safe, yet ecological It’s “sheer automotive genius in a totally fun, efficient package Smart thinking, indeed.” Five Marketing Management Orientations: Production concept The idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency Product concept The idea that consumers will favor products that offer the most quality, performance, and features and that the organization should therefore devote its energy to making continuous product improvements Selling concept The idea that consumers will not buy enough of the firm’s products unless it undertakes a largescale selling and promotion effort Marketing concept A philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors Societal marketing concept The idea that a company’s marketing decisions should consider consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests 4.Define strategic planning and briefly describe the four steps that lead managers and the firm through the strategic planning process Discuss the role marketing plays in this process Explain the main contents of an international marketing plan Strategic planning: The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities At the corporate level, the company starts the strategic planning process by defining its overall purpose and mission (see Figure 2.1) This mission (A statement of the organization’s purpose what it wants to accomplish in the larger environment) is then turned into detailed supporting objectives that guide the entire company Next, headquarters decides what portfolio of businesses (The collection of businesses and products that make up the company) and products is best for the company and how much support to give each one In turn, each business and product develops detailed marketing and other departmental plans that support the company-wide plan Thus, marketing planning occurs at the business-unit, product, and market levels It supports company strategic planning with 38 more detailed plans for specific marketing opportunities Marketing plays a key role in the company’s strategic planning in several ways First, marketing provides a guiding philosophy—the marketing concept—that suggests that company strategy should revolve around building profitable relationships with important consumer groups Second, marketing provides inputs to strategic planners by helping to identify attractive market opportunities and assessing the firm’s potential to take advantage of them Finally, within individual business units, marketing designs strategies for reaching the unit’s objectives Once the unit’s objectives are set, marketing’s task is to help carry them out profitably Chapter2: 5.Name and describe the elements of a company’s microenvironment The Company Marketers must work in harmony with other company departments to create customer value and relationships In designing marketing plans, marketing management takes other company groups into account—groups such as top management, finance, research and development (R&D), purchasing, operations, and accounting All of these interrelated groups form the internal environment Top management sets the company’s mission, objectives, broad strategies, and policies Marketing managers make decisions within the strategies and plans made by top management Suppliers Suppliers form an important link in the company’s overall customer value delivery network They provide the resources needed by the company to produce its goods and services Supplier problems can seriously affect marketing Rising supply costs may force price increases that can harm the company’s sales volume Most marketers today treat their suppliers as partners in creating and delivering customer value Marketing Intemediaries In creating value for customers, marketers must partner with other firms in the company’s value delivery network - Firms that help the company to promote, sell, and distribute its goods to final buyers Competitors To be successful, a company must provide greater customer value and satisfaction than its competitors Thus, marketers must more than simply adapt to the needs of target consumers They also must gain strategic advantage by positioning their offerings strongly against competitors’ offerings in the minds of consumers 5.Publics Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives 6.Customers Customers are the most important actors in the company’s microenvironment The aim of the entire value delivery system is to serve target customers and create strong relationships with them 6.Name and describe the elements of a company’s macroenvironment Discuss how the international trade system and the economic, political-legal, and cultural environments affect a company’s international marketing decisions Discuss the three ways to enter foreign markets Company’s Macroenvironment: Demography The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics The demographic environment is of major interest to marketers because it involves people, and people make up markets Changing demographics mean changes in markets, which in turn require changes in marketing strategies Economic Environment The economic environment consists of economic factors that affect consumer purchasing power and spending patterns The Natural Environment Involves the natural resources that are needed as inputs by marketers or that are affected by marketing activities Concern for the natural environment has spawned a so-called green movement in industries ranging from PCs to diesel locomotives Technological Perhaps the most dramatic force now shaping our destiny The forces that create new technologies, creating new product and market opportunities Political and Social Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society Cultural Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors Discuss how the international trade system and the economic, political-legal, and cultural environments affect a company’s international marketing decisions A company must understand the global marketing environment, especially the international trade system It must assess each foreign market’s economic, political-legal, and cultural characteristics The company must then decide whether it wants to go abroad and consider the potential risks and benefits It must decide on the volume of international sales it wants, how many countries it wants to market in, and which specific markets it wants to enter These decisions call for weighing the probable rate against the level of risk Companies looking abroad must start by understanding the international trade system When selling to another country, a firm may face restrictions on trade between nations Governments may charge tariffs, taxes on certain imported products designed to raise revenue or protect domestic firms The international marketer must study each country’s economy Two economic factors reflect the country’s attractiveness as a market: its industrial structure and its income distribution Nations vary greatly in their levels and distribution of income Some countries have industrial economies, which constitute rich markets for many different kinds of goods At the other extreme are subsistence economies; they consume most of their own agricultural and industrial output and offer few market opportunities In between are developing economies that can offer outstanding marketing opportunities for the right kinds of products Economic factors can have a dramatic effect on consumer spending and buying behavior For example, until fairly recently, American consumers spent freely, fueled by income growth, a boom in the stock market, rapid increases in housing values, and other economic good fortunes They bought and bought, seemingly without caution, amassing record levels of debt However, the free spending and high expectations of those days were dashed by the Great Recession Nations differ greatly in their political-legal environments In considering whether to business in a given country, a company should consider factors such as the country’s attitudes toward international buying, government bureaucracy, political stability, and monetary regulations Some nations are very receptive to foreign firms; others are less accommodating Companies must also consider a country’s monetary regulations Sellers want to take their profits in a currency of value to them Ideally, the buyer can pay in the seller’s currency or in other world currencies Cultural Each country has its own folkways, norms, and taboos When designing global marketing strategies, companies must understand how culture affects consumer reactions in each of its world markets In turn, they must also understand how their strategies affect local cultures Three ways to enter foreign markets Exporting Entering a foreign market by selling goods produced in the company’s home country, often with little modification The simplest way to enter a foreign market is through exporting The company may passively export its surpluses from time to time, or it may make an active commitment to expand exports to a particular market In either case, the company produces all its goods in its home country It may or may not modify them for the export market Exporting involves the least change in the company’s product lines, organization, investments, or mission Joint venturing Entering foreign markets by joining with foreign companies to produce or market product or service Joint venturing differs from exporting in that the company joins with a host country partner to sell or market abroad It differs from direct investment in that an association is formed with someone in the foreign country There are four types of joint ventures: licensing, contract manufacturing, management contracting, and joint ownership Direct investment Entering a foreign market by developing foreign-based assembly or manufacturing facilities The biggest involvement in a foreign market comes through direct investment—the development of foreign-based assembly or manufacturing facilities If a company has gained experience in exporting and if the foreign market is large enough, foreign production facilities offer many advantages The main disadvantage of direct investment is that the firm faces many risks, such as restricted or devalued currencies, falling markets, or government changes In some cases, a firm has no choice but to accept these risks if it wants to operate in the host country Chapter 7 Consumer markets refers to the markets where people purchase products for consumption and are not meant for further sale, where in the seller sells the product for a primary reason of making profits while buyer buys the products for personal use This market is dominated by the products which consumer use in their daily life Markets dominated by products and services designed for the general consumer Consumer markets are typically split into four primary categories: consumer products, food and beverage products, retail products, and transportation products Industries in the consumer markets often have to deal with shifting brand loyalties and uncertainty about the future popularity of products and services Business markets Business markets operate “behind the scenes” to most consumers Most of the things you buy involve many sets of business purchases before you ever see them.Business market in simple words is business to business market where in the products or services of a particular organization are sold to or purchased by other organization or business It also happens in support industries where the products that are manufactured are components required to be assembled into the products or services offered by some other business organization What are the major differences between the two? In consumer market the purchase might even be made when the products are not required in day to day activities But in business market the business has to buy to stay profitable The business buyer is sophisticated in terms of the process involved in buying, decision making while on the other hand the consumer in the consumer market might not be as sophisticated The business buyer is an information-seeker, constantly on the lookout for information and advice On the other hand the consumer only searches information when he requires to make a decision Packaging is important in consumer market while its nonexistent in the business market Expert advice is taken while making purchases in the business market as against the consumer market Consumer market product are simplistic while business products are complicated International markets is a market outside the international borders of company’s country of citizenship Market segmentation The market consists of many types of customers, products, and needs The marketer must determine which segments offer the best opportunities Consumers can be grouped and served in various ways based on geographic, demographic, psychographic, and behavioral factors The process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs is called market segmentation Every market has segments, but not all ways of segmenting a market are equally use-ful For example, Tylenol would gain little by distinguishing between low-income and high income pain reliever users if both respond the same way to marketing efforts A market segment consists of consumers who respond in a similar way to a given set of marketing efforts In the car market, for example, consumers who want the biggest, most comfortable car regardless of price make up one market segment Consumers who care mainly about price and operating economy make up another segment It would be difficult to make one car model that was the first choice of consumers in both segments Companies are wise to focus their efforts on meeting the distinct needs of individual market segments We should target those segments we can serve most efficiently and effectively: Market Targeting This is the second step of setting up a marketing strategy Segmentation-> targeting -> differentiation and positioning Market segment A group of consumers who respond in a similar way to a given set of marketing efforts Market targeting The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter Positioning Arranging for a product to occupy a clear,distinctive, and desirable place relative to competing products in the minds of target consumers After having distinguished between the separate segments in a market, the company can select one or more of these segments to enter Before doing this blindly, each segment should be assessed Therefore, targeting is concerned with evaluating each segment’s attractiveness for the company and selecting one or more segments to enter The evaluation of segments is based on the question which segment the company can serve best In other words, we should concentrate on and enter those segment Whether a company decides to enter one or more segments may also depend on its resources If these are limited, it may be better served to focus on one or a few smaller segments, which we call market niches In the best case, the company should look for segments competitors overlook or ignore Alternatively, a company can decide to enter several segments This may be based on a strong relation between the segment in terms of resembling needs, or on the company’s widespread resources For instance, clothing companies often target more than only one segment: males, females, children and so on A large company such as a major car manufacturer might even decide serve all market segments by offering a complete range of products.s in which we can generate the greatest customer value over time Variables used in segmenting markets (slide Major Segmentation Variables) factors to evaluate market segment: market segment size and market segment growth The requirements for effective market segmentation are as follows a) Measurable: The size, needs, purchasing power, and characteristics of the customers in the segment should be measurable Quantification should be possible b) Divisible: The segments should be differentiable There must be clear-cut basis for dividing customers into meaningful homogeneous groups They should respond differently to different marketing mixes There should be differences in buyer's needs, characteristics and behaviour for dividing in groups c) Accessible: The segment should be reachable and serviceable It should be accessible through existing marketing institutions, such as distribution channels, advertising media and sales force There should be middlemen to distribute the products d) Substantial: The segment should be substantial It should be large enough in terms of customers and profit potential IT should justify the costs of developing a separate marketing mix e) Actionable: It should be actionable for marketing purposes Organizations should be able to design and implement the marketing mix to serve the chosen segment The way companies identify attractive market segments and choose a market targeting strategy in IM (slide: combination of market understanding and company’s capability, options to expand to international markets, standardization and adaption) 10 The way companies differentiate and position their product for maximum competitive advantage in the marketplace (slide steps in positioning process) Chương 11 product in marketing is anything that can be offered to the market to exchange, to bring values and satisfaction to customers Key product decision -Decide on the level and composition of the benefits of the product Determine where the product is in the market place, its level of need to determine whether it should produce this product -decision on the catalog and catalogues Danh mục sản phẩm tập hợp tất sản phẩm sản phẩm cá nhân người bán hàng cung cấp thị trường / chào bán cho người mua -Decide on the brand of the product Make products popular with consumers -Decision on the packaging, marks mark Users using the product marking as a product of the product of product and the label of the markers of the product of the price Ví dụ, hầu hết khách hàng xem lọ Chanel số loại nước đắt tiền đắt tiền, niềm ước mơ nhiều phụ nữ But also nouoc hoa close in a lọ bez label will be less at you until that of the future of the best of the world Do đó, việc định nhãn sản phẩm chiến lược quan trọng công việc -Decide on standardization and product adaptation The suitability of the product in that area 12 Product mix, also known as product assortment, refers to the total number of product lines that a company offers to its customers For example, a small company may sell multiple lines of products Sometimes, these product lines are fairly similar, such as dish washing liquid and bar soap, which are used for cleaning and use similar technologies Other times, the product lines are vastly different, such as diapers and razors The four dimensions to a company's product mix include width, length, depth and consistency Width The width of a company's product mix pertains to the number of product lines that a company sells For example, if a company has two product lines, its product mix width is two Small and upstart businesses will usually not have a wide product mix It is more practical to start with some basic products and build market share Later on, a company's technology may allow the company to diversify into other industries and build the width of the product mix Length Product mix length pertains to the number of total products or items in a company's product mix, according to Philip Kotler's textbook "Marketing Management: Analysis, Planning, Implementation and Control." For example, ABC company may have two product lines, and five brands within each product line Thus, ABC's product mix length would be 10 Companies that have multiple product lines will sometimes keep track of their average length per product line In the above case, the average length of an ABC Company's product line is five Depth Depth of a product mix pertains to the total number of variations for each product Variations can include size, flavor and any other distinguishing characteristic For example, if a company sells three sizes and two flavors of toothpaste, that particular brand of toothpaste has a depth of six Just like length, companies sometimes report the average depth of their product lines; or the depth of a specific product line Consistency Product mix consistency pertains to how closely related product lines are to one another in terms of use, production and distribution A company's product mix may be consistent in distribution but vastly different in use For example, a small company may sell its health bars and health magazine in retail stores However, one product is edible and the other is not The production consistency of these products would vary as well.k Product Market Mix Strategy Small companies usually start out with a product mix limited in width, depth and length; and have a high level of consistency However, over time, the company may want to differentiate products or acquire new ones to enter new markets A company can also sell the existing products to new markets by coming up with new uses for their product Decision base: market demand, sales and profitability of each item, the company's objectives in each period Company choice: Extend product portfolio, expand product portfolio or shorten and narrow product portfolio 13 Core product refers to the core benefit the consumer derives from the product In some cases the basic physical product remains the same, the core product differs between markets because the purpose for which product is used is different in these different markets This is called modifications of product design, positioning and communication strategies Actual product is the actual form with all tis attributes, in which the product is offered to the consumer It has certain characteristics liked a quality level, features, styling, a brand name and packaging Augmented product refers to certain additional services of benefits offered with the product such as installation, delivery and credit facilities, after sales service and warranty product augementaion may not be very important in a seller’s market but they are very important in the competitive markets which are buyer’s market 14 Brand (slide) A brand is a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service Consumers view a brand as an important part of a product, and branding can add value to a product Customers attach meanings to brands and develop brand relationships Brands have meaning well beyond a product’s physical attributes For example, consider Coca-Cola A powerful brand has high brand equity Brand equity is the differential effect that knowing the brand name has on customer response to the product and its marketing It’s a measure of the brand’s ability to capture consumer preference and loyalty A brand has positive brand equity when consumers react more favorably to it than to a generic or unbranded version of the same product It has negative brand equity if consumers react less favorably than to an unbranded version What businesses need to to build & manage a brand? How to brand quickly enter the market? - The cause of success of each business may be different, but in terms of overall, it is due to a general model: willpower - general - professional On the will, the board of directors of enterprises has made a bold decision to choose and implement the penetration method with aggressive and systematic advertising With financial humility and lack of experience in all aspects, this is considered to be a bold change in thinking and bravery in performance In terms of total power, in addition to television ads as the main nucleus, support activities are carried out in a uniform manner: from posters, posters, outdoor banners, point-of-sale information, Lottery for consumers to analytical articles, community relations programs Professionalism is reflected in the fact that these programs are designed and conducted in a very detailed, in the right way, proving that the business has a thorough research process To the three things is a very difficult set of efforts In addition to the one element of perception and will, the other two are of competence, including the ability to seek ideas, collaborate with the consultant, and financial resources for implementation 15 Standards and product adaptation - Product standardization is the use of the same product in the domestic and overseas markets at all three levels of product interest Product standardization is an efficient method to reduce costs and increase quality By minimizing the differences in your products, you are able to rapidly increase production, streamline distribution, decrease raw material costs and reinforce product branding The best product standardization strategies allow you to balance the need for targeted adaptation with the cost savings of standardization - Adaptation of products is the transformation of products to suit the needs of foreign markets Product adaptation is the changes and special modifications are made in order to adjust to each market Adaptation is a marketing strategy where new products or services are modified based on existing products and services However, this is not to suggest that in doing so they pioneer in innovation In order to meet the needs of international customers, the firm may need to adapt its product to suit individual or regional markets The company will also need to establish a brand that can be applied globally or tailored to fit into the local market Product adaptation strategies are also being considered as perhaps the most influential aspect for Multi-National Corporations (MNCs).There are many factors affecting to use adaptation strategies Some of them are product, target market, package & design, ingredients, language, culture, religion etc… - Content is usually standardized: brand - Business and Standardization Adaptation: Standardization: cell phones, televisions, cigarettes, chewing gum, razors Adaptation: cars, motorcycles, home appliances Factors Affecting Product Adaptation Cultural Condition and Style Sometimes a product needs only superficial adaptation in order to fit into a new market Different cultures assign meaning to colors, words and numbers very differently, for example This may mean that a manufacturer will have more success changing the name or color of a product while leaving its functional components unchanged Manufacturers may also need to change the name of a product to avoid confusion in the translation into a new language or to avoid using a name already copyrighted or associated with a different product in the new market Customer needs Option for customers with many options when deciding to buy products Steve Jobs said, “You’ve got to start with the customer experience and work backwards to the technology You cannot start with the technology and try to figure out where you are going to sell it.” Our outcome-driven approach to innovation enables companies to exactly that Understanding customer needs before developing solutions is the hallmark of the ODI process Requirements of the host government Labeling in local language Company goal market shares Maximize profit margins How governments afect product adaption decisions òf companies 16 Factors influencing Packaging decisions and considerations in International Marketing There are a number of factors that influence decisions in respect of packaging features like size, shape, design, surface graphics, color schemes, labeling, materials etc - - - - Physical Characteristics: Packaging decisions are influenced by certain physical characteristics of the product like the physical state, weight, stability, fragility, rigidity, surface finish etc Physical characteristics: Certain physio-chemical factors like the effect of moisture, oxygen, light, flame, bacteria, fungi, chemical action etc., on the product are vary important factors to considered while making packaging decisions Economy: While packaging is very important in marketing, it is costly too Indeed, there are a number of cases where the cost of packing is more than the cost of the content The rising cost of packaging has become a matter of serious concern Every effort should therefore, be made to reduce the packaging costs as much as possible without impairing the packaging requirements Convenience: packaging should also necessarily possess the quality of convenience from the point of view of consumers, distributors and producer Hence, apart from the functional needs, a good package should possess certain features like ease to open and close, ease to dispense, ease to dispose of, ease to recycle, ease to identify, ease to handle, convenience to pack, convenience to stack, convenience to display etc - Miscellaneous Factors: Apart from the factors mentioned above, packaging decisions may be influenced by a number of other factors For example, if there is any statutory rule in respect of packaging, it will have to be abided by The socio-cultural factors could influence packaging decision Consumer attitudes also have to be given due consideration The growth of consumerism in a number of countries, interalia, also suggests that packaging decisions should be made with meticulous care Special Considerations in International marketing: In addition to the general considerations in packaging mentioned above, there are certain special factors to be considered in export packaging decisions Important among them are the following Regulations in the Foreign Countries: Packaging and labeling may be subject to government regulation in the foreign countries Some countries have specified packaging standards for certain commodities The trend toward requiring labeling in a countries native language is growing If such regulations are not strictly followed, the goods may be confiscated or may attract some other punitive action Buyer Specifications: In some cases, buyers like the exporters to give packaging specification While incorporating such specifications it should also be ensured that packaging satisfies other requirements like the statutory requirements Socio-cultural factors: While designing the packaging for a product, socio-cultural factors relating to the important country like customs, traditions, beliefs etc, should also be considered Retailing Characteristics: The nature of retail outlets is a very important consideration packaging decision For instance as pointed out earlier, in some of the foreign markets as a result of the spread of supermarkets and discount houses, a large number of products are sold on a self-service basis The package has, therefore, to perform many of the sales tasks and hence it must attract attention, describe the products features, give the consumer confidence and make a favorable overall impression Environmental factors: Packaging decisions are also influenced by certain environmental factors like weather and climate factors The impact of such factors in the place where the product originates, while the product is in transit and while in the market etc., should be considered The package should be capable of withstanding the stresses and hazards of handling and transportation, stacking, storing etc., under diverse conditions Disposability: Attention should also be paid to the aspects relating to the disposal of the packaging One of the qualities required for good package is that it could be easily disposed of or recycled In some of the developing countries like India many packaging materials easily find some other use or are recycled But the situation is different in other countries Indeed, the disposal of packaging materials is causing environmental problems in a number of countries Reusable packages the risk of misusing it for selling bogus products 26 How companies have direct contacts with international customers? Trade fair Participating in trade fairs is one of the traditional marketing tools to reach out to international buyers The most important issue when participating in trade fairs is to gather information, knowledge about fashion trends, tastes of customers and competitors right at the fair Trade fair participation can be divided into three stages: before, during and after the fair Website E-commerce is becoming more and more important in international transactions Both sellers and buyers find it convenient and cost-effective to transact over the internet For textiles, you can refer to some websites such as http://www.textileserver.com, http://www.alibaba.com, http://www.apparelbids.com or http: / /www.importers.com Direct contact with customers Communicating directly with customers is a good marketing tool Direct communication can be in the form of emailing or face-to-face meetings To be able to successfully transact via email, you should note: Firstly, you have to research on each target customer according to their buying style (direct purchase, through agents or purchasing organizations) to meet their requirements (price, quality Quantity, design, ISO, SA 8000 ) You can find out information about your customers by visiting their websites or contacting industry associations Second, your email needs to be written and sent to the right buyer Your communication must be very professional In the original email, you can give a brief introduction of your business such as: history of the product, product, quality certification, production capacity, design capacity, existing customers and people contact You can also email the product images of your business to attract the attention of customers You should also prepare a brochure about your organization's product quality standards or a brochure about the business, including: business profile and products and in guest emails You have the potential to ask them if they would like to receive those materials You can combine face-to-face meetings with customers when attending trade shows You need to make an appointment with the customer When it comes to meeting customers, remember to bring special things like business cards, company profiles, product catalogs and samples After the meeting, remember to send thank you letters to customers Remind existing customers Instead of passively waiting for the customer to come back, you need to actively, actively contact the current customer You can give some good reasons to remind your customers, such as: your company launches new product or get some standard certification You can also ask your customers if they are satisfied with the products and services of your business, what you need to to further satisfy their needs and show that you want to be business Joint with them more You should build long-term relationships with your customers and treat each customer as a single customer Push and pull promotion strategies Promotion is an important part of any marketing strategy You can have the best product or service out there, but unless you promote it successfully, no one will know about it There are three basic types of promotional strategies – a push strategy, a pull strategy or a combination of the two In general, a push strategy is sales oriented, a pull strategy is marketing-oriented and a push-pull strategy is a combination of the two Push Strategy A push promotional strategy works to create customer demand for your product or service through promotion: for example, through discounts to retailers and trade promotions Appealing package design and maintaining a reputation for reliability, value or style are also used in push strategies One example of a push strategy is mobile phone sales, where manufacturers offer discounts on phones to encourage buyers to chose their phone Push promotional strategies also focus on selling directly to customers, for example, through point of sale displays and direct approaches to customers Pull Strategy A pull promotional strategy uses advertising to build up customer demand for a product or service For example, advertising children's toys on children's television shows is a pull strategy The children ask their parents for the toys, the parents ask the retailers and the retailers the order the toys from the manufacturer Other pull strategies include sales promotions, offering discounts or two-for-one offers and building demand through social media sites such as YouTube Combination Strategies Some companies use a combination of both push and pull strategies For example, Texas-based textile producer Cotton Incorporated uses a push/pull promotional strategy They push to create customer demand through constantly developing new products and offering these products in stores; and pull customers towards these products through advertising and promotion deals According to marketing expert Blair Entenmann, in an article he wrote for his company Marketing Help there is no single correct combination of push and pull The amount spent on each type of strategy will depend on factors such as budget, the type of product, the target audience and competition When To Use Push promotional strategies work well for lower cost items, or items where customers may make a decision on the spot New businesses use push strategies to develop retail markets for their products and to generate exposure Once a product is already in stores, a pull strategy creates additional demand for the product Pull strategies work well with highly visible brands, or where there is good brand awareness This is usually developed through advertising Sending direct mail Communicating directly with customers is a good marketing tool Direct communication can be in the form of emailing or face-to-face meetings To be able to successfully transact via email, you should note: Firstly, you have to research on each target customer according to their buying style (direct purchase, through agents or purchasing organizations) to meet their requirements (price, quality Quantity, design, ISO, SA 8000 ) You can find out information about your customers by visiting their websites or contacting industry associations Second, your email needs to be written and sent to the right buyer Your communication must be very professional In the original email, you can give a brief introduction of your business such as: history of the product, product, quality certification, production capacity, design capacity, existing customers and people contact You can also email the product images of your business to attract the attention of customers You should also prepare a brochure about your organization's product quality standards or a brochure about the business, including: business profile and products and in guest emails You have the potential to ask them if they would like to receive those materials You can combine face-to-face meetings with customers when attending trade shows You need to make an appointment with the customer When it comes to meeting customers, remember to bring special things like business cards, company profiles, product catalogs and samples After the meeting, remember to send thank you letters to customers For example, when you want to send mail to a particular customer, it is necessary to determine the gender and product that the company wants to sell for their benefit, accompanied by documents that not mail spam to people Consumer is an international customer who clicks on and reads the mail of that company 27 Why should Vietnamese companies participate in international trade fairs? Discuss factors that Vietnamese companies should study when participating trade fairs a Trade fairs are a very powerful marketing medium They bring together thousands of international buyers and sellers in one place in a short space of time There are many ways and sources to look for products and suppliers, but nothing can beat the benefits that the trade fairs have to offer Not only Vietnam but most countries in the world are promoting participation in international fairs for a number of reasons:  Introduce a new product: there is the opportunity to show your product in key players of your field in a well known exhibition or trade show ALWAYS have something to sell at a trade show It doesn’t matter if you only bring your latest products or have a wide   variety of products to choose, the opportunity to generate sales shouldn’t be lost because you didn’t have something for them to buy Make new connections: When it comes to influencing a decision, nothing can compete with face-to-face interaction even if you have built a large network with many connections an in-person presentation and short question based conversation afterwards can help you to close the deal quickly versus an email sharing the latest sales promo Improve your brand’s image: Having a well designed website and an impressive profile for you and your company in social networks for b2b is the first step to improve your brand’s image In trade shows and exhibitions you have the chance to prove that your creativity is part of your business Keep an eye in competition: You have already searched and created your competitive advantage through social networks for business to business and your researches Now it is time to see your competitors in real action Have one of your partners take a look at your competitors’ booths and collect evidence to evaluate your competitiveness  Use media for your promotion: Trade shows and exhibitions get media coverage so you should be prepared to promote your business through media, either radio or tv stations You can create a video or take photographs and then share them through social media to make a positive feedback for your profile You should also use any references from media to share to your profile  Learn anything new: There are many things to learn about your business’s field, other products, new ideas and trends Take this opportunity to improve your knowledge and experience  Increase your sales: By doing all the above you have created a positive impression for your company This will lead to larger brand awareness, bigger interest for your business and of course it will increase your sales Remember to use everything in combination with your social network to inform your connections at the same time for your progress Vietnamese companies sometimes organize their own trade shows outside the country Many international trade show are also held in Vietnam, throughout the year, where foreign business people are invited to participate and/or visit Foreigners interested in Vietnamese products can contact Vietnamese embassies and/or trade offices in their home countries or VIETRADE or VCCI or other business associations to be advised of the events Most important among trade shows held in Vietnam are two yearly export exhibitions that take place in Hanoi in or around April and in HCM city in or around October This event is a good opportunity for foreign companies to gain a general picture of the Vietnamese economy and meet Vietnamese partners  b 28 Name and describe the common methods for setting promotion budgets What are the key drivers that today’s marketer has to understand in planning, executing, managing and evaluating integrated marketing communication plans for the international markets? ... plans for specific marketing opportunities Marketing plays a key role in the company’s strategic planning in several ways First, marketing provides a guiding philosophy—the marketing concept—that... how the international trade system and the economic, political-legal, and cultural environments affect a company’s international marketing decisions A company must understand the global marketing. .. through the strategic planning process Discuss the role marketing plays in this process Explain the main contents of an international marketing plan Strategic planning: The process of developing