Marketing in the news Measuring Ad Effectiveness Superbowl ads results may vary MBD two million people strong online panel of US consumers notice all campaigns were not successful Tom Lucido commercials only for awareness and interest Does not spike sales Lincoln Merrihew managing director of transportation at MBD claims Measure effectiveness of advertising isn t easy Sale results may not show up for three months Example Chevrolet Cruises are partnering with brands to help rebuild reputation PR boosts Creating partnerships to step up to expand their marketing reach and rebuild reputation noted by Daniel Edward Craig founder of Reknown Example cruises royal Caribbean and canyon ranch spa Norwegian cruise and mondavi wine experience Norwegian cruise and Wii MSC cruise and smurfs kids club celeb cruise and top chef blue diamond runs multimedia Olympics campaign Snack nuts feature a multimedia campaign during the winter Olympics Advertising shows athletes and the viewer s enjoy the snacks Get your good going Facebook based promotion for snack nuts consumers send messages to USAA athlets and receive coupons for a free snack nut can each time they win gold 3 USAA athletes won gold 53400 facebook likes 8500 twitter followers And billboards Definitions Quota restriction placed on the amount of a product allowed to enter or leave a country Global Competition Exists when firms originate produce and market their products and services worldwide Strategic alliances agreements among two or more independent firms to cooperate for the purpose of achieving goals Multidomestic marketing strategy multinations have many different product variations brand names and advertising programs Global marketing strategy practive of standardizing marketing activities when they are cultural similarities and adapting them when cultures differ Global brand a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs Global consumers consist of consumer groups living in many countries who have similar needs from a good or service Cultural symbols things that represent ideas and concepts Microfinance the practice of offering small collateral free loans to individuals who otherwise would not have access to the capital necessary to begin small businesses Exporting producing a good in one country and selling it in another Joint venture when a foreign company and a local firm invest together to create a local business Marketing in a borderless economic world Trend 1 Decline of economic protectionism Protectionism Tariffs quotas Increased prices limited supplies World trade decrease How can we do this Have general agreements on tariffs and trade World trade organization trade without discrimination Guest Speaker Video Patrick Low chief economist WTO internation trade agreement 150 nations need cooperation of buying from all nations regional trade agreements challenge to trade w o discrimination WTO creates stability and equality in tade Trend 2 Ride of economic integration European union 28 countries 504 million consumers North American Free Trade agreement US Canada Mexico Asian Free Trade Agreements covers 1 4 billion people India Pakistan Nepal Bangladesh Trend 3 Global Competition Strategic alliances agreements among 2 or more firms to reach goals examples cereals Global Companies multidomestic like Henkel Example 125 counties 50000 employees 10000 products Transnational Global Marketing Entry Strategies Exporting indirect direct Licensing contract manufacture contract assembly franchising Joint venue Direct investment Ohio is one of the top 10 exporting states in the US
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