Notes on International Marketing Course 2025 CHAPTER 1

A set of flashcards covering key concepts and definitions related to the International Marketing Course 2025.

What is the basic definition of marketing?

Marketing is creating a market and bringing a product (or service) to the market.

A process of value creation simultaneously built around the 4 Ps

What does marketing imply?

• knowing your target audience

• Finding ways to sell more

What is the big issues in marketing today?

He stuck of creativity and innation if you have the idea that no one else has, you will e immensely rich

Market

The sum total of all the buyers and sellers in a very specific area or region take under consideration.

An area in which commercial dealings are conducted. A place to purchase and sell

Available market

Market of all people in the area

Minimum market

The market size which will buy goods without any marketing effort

Potential market

The maximum market size which will buy goods when subjected to the greatest marketing action (the upper limit)

Does the bigger the market the better works?

No. We have to deeply investigate the market potential and quantities

What are the three primary goals of marketing?

1) Sell more to the same audience (existing customers);

2) Sell differently to the same audience (different product, different channeling; eg PORSCHE not selling only cars)

3) Sell to a broader spectrum. ( selling is the key of marketing, selling to a broader spectrum like the subsaharan Africa)

What is marketing theory (Philip Kotler)

The science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit.

Finding unfulfilled needs and desires, quantify the size of target market the company is capable of serving best and see potential profit

Who is Dr. Philip Kotler?

Dr. Philip Kotler is considered the creator of modern marketing discipline and authored the book 'Marketing Management', recognized as the 'bible' of marketing.

Marketing for Philip kotler

How to create, to communicate and to deliver value to a target market for a profit

Marketing in real life?

A cluster of different activities: PR/press, social media, retail merchandising, statistics and analysis, spot projects, advertisement, co-marketing…

Difference between marketing and branding

• Marketing is creating the market external action; branding is creating the brand (emotions, telling a story authentic, the image you want people to perceive of you). Internal action

Interconnectedness between marketing and branding

A strong marketing generates a strong branding, a strong branding generates a strong marketing. Branding is what mostly works for our generation. Market growth is countable, brand growth is uncountable.

Marketing mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products. PPPP

What are the 4 Ps of marketing as defined by Jerome McCarthy?

1) Product, 2) Place, 3) Price, 4) Promotion.

Product

An item (or service) for sale within a specific market in order to satisfy specific consumer needs

The 3 different qualities (elements) related to product

• essential: function and benefit of the product itself

• Tangible: the physical dimensions, or which are discernible

• Intangible: the unobservable and subjective characteristics ( style, quality, strengths, beauty) very important

Place

The stage of transaction, both physical and digital, all activities linking product to the customer. Distribution (channel management, logistics. B2B B2C

• international marketing needs to pay attention to the laws and regulations in each country before the launch of a product in a new place.

Price

Quantity money a consumer is willing to pay I order to receive a product or service. A customer becomes a consumer after paying and after starting to use the product. The price leverage is the marketing leverage that can generate beside costs, profits it is highly crucial

Penetration pricing

Starting with a low price and later increasing it, lower to higher

Skimming pricing

Tart with a high price tha is later reduced higher to lower

Psychological pricing

Certain rices a can generate psychological impact among customers eg: 9,99 instead of 10

Promotion

Cluster of activities focused in order to advertise, promote and share the company/product service awareness

Has a lot to do with the communication activities: sales promotion, advertising sponsorship, direct marketing, PR, merchandising

Coherence between PPPP

There should always be a coherence between these 4, the DNA is the result between these 4. (You can not have high quality clothes ( product) in a very dirty store ( place))

3 layers of coherence

Coherence with market

Coherence among the 4Ps

Coherence with the brand

The golden rule of marketing

To listen(understand) before to communicate (act). It is important to open the eyes, the brain and the heart.

The 5th P

The People or better the persons individuals, redesigning the business model for the customers

What does the term 'market' refer to?

A market is defined as an area in which commercial dealings are conducted, encompassing spaces both physical and virtual.

What is operational marketing?

Operational marketing refers to the daily implementation of practical marketing needs connected to other company departments. What marketing employees have to take care of in their daily job activities

Why can operational marketing be called tactical marketing?

Because it is the execution of specific activities to support the overall marketing strategy (ads,promo, social edit engament)

What is strategic marketing?

Strategic marketing deals with long-term marketing business and involves forecasting analysis about business evolution. The study of the market, listening to the market, the envisioning of the new market, new campaigns, new testimonials

Material vs immaterial

Product vs services, owning something vs experiencing something. Their marketing strategies are very different.

What are the implications of globalization for companies?

Globalization results in new market opportunities, but also increases risks due to cultural differences and market dynamics.

What does CSR stand for and what does it entail?

CSR stands for Corporate Social Responsibility, focusing on maximizing positive impact and minimizing negative impact on people, the planet, and profit.

What is the purpose of the marketing mix?

The marketing mix is a combination of factors controlled by a company to influence consumers to purchase its products.

How does positioning relate to marketing?

Positioning is how a company wants customers to perceive its product relative to competitors' products. The more it matches with the way the customers think, the better the positioning strategy is

As soon as a customer notices the brand, product service she feels a first impresssion extremely to change his or her ind later on.

International marketing

Process of planning and conducting transactions across national boers to create exchanges that satisfy the needs of individuals and organizations

What international marketing requires

Standardization

Adaptation

Local environment/ domestic marketing

Looking at targeting, positioning and marketing mix

Global marketing/ international marketing

Target market and entry mode, target segment, positioning (the virals in the new country), marketing mix locales local

What is the difference between domestic and international marketing?

Domestic marketing focuses on marketing strategies within a single country, while international marketing involves strategies targeting multiple nations.

What is meant by market globalization?

Market globalization refers to the decline in barriers to sell in other countries, offering new market opportunities.

Production globalization

Sourcing from other countries to gain advantage from price differentiation

Additional opportunities of globalization

Size ( big market, big population, tastes, culture, evolution)

Trend (growing market, purchasing power, emerging country)

Maturity ( level of competition, country evolution)

Risks of globalization

Economic: cost of dong business, risk of failure payment failure

Country risk: political instability national controls and barriers, weak intellectual property rights

Finanacial risks: currencyexposure, inflation

Cultural risk: difference in culture, language, lifestyle, religion

Example the failure of dominos pizza in Italia, probably because they did not listen to the people, they did not study the market, hey did not adapt to the culture of Italy. Differences and discrepancies in culture, language, lifestyle, religion. Example the acceptance of LGBT would not be accepted in the emirates.

3 different types of globalization

• consumer behavior: consumer sharing the modern cult(digitalization), converting needs and wants towards modernity

• Organizational globalization: international competition, customers and suppliers, the WTO

• Offer globalization: world brands and products, multinational presence: key drivers of globalization

Localization does not mean identicatlity

Impact for companies eg: after the Black Lives Matter, movement unilever changing the name of skin lightening product

How can companies evaluate market potential?

Companies can assess market potential by analyzing size, trends, and maturity of the market.

What are the risks associated with globalization?

Risks include economic risks (cost of doing business, risk of failure, payment failure), country risks (political, control barriers, international property rights), financial risks(currency exposure, inflation), and cultural risks(language, style,religion).

What significant event triggered changes in Unilever's product branding?

The killing of George Floyd led Unilever to change the brand name of its skin-lightening product from 'Fair & Lovely'.

CSR

Implementing a corporate strategy that maximizes positive impacts and minimizes negative impacts on:

• people (ethical, social)

• Planet (environmental)

• Refit (economic)