Global Marketing

Assignment Deadlines

  • Video submissions: Due by December 9 (Tuesday).

    • Purpose: Allows time for proper handling and presentation in class.

  • Remaining assignments:

    • Final group assignment:
    • Peer evaluation: Due by December 12 (Friday).

Creative Video Assignment Guidelines

  • Focus: This assignment is about creating a creative video related to the company/product you are addressing in your final paper.
    • Examples of themes: Christmas commercial, Super Bowl commercial, Olympic commercial.
    • Encourage creativity and humor in execution.
  • Ideas for content:
    • Use personal touches such as student faces, pets, and relatable elements.
    • Connection: The video must relate to your final project (e.g., if your company is Starbucks, create a video around a new drink offering).
  • Quality:
    • No need for professional production quality; even low-quality video (& iPhone or smartwatches) is acceptable.
    • The focus is on creativity rather than production values.

Common Concerns Regarding the Video

  • Anxiety about creativity: The instructor encourages students not to stress about their perceived lack of creativity.
  • No pressure to impress with advanced technology (like AI):
    • Students should focus on basic execution without aiming to create something overly sophisticated.
    • Exploring the capabilities of available tools is encouraged, but should not overshadow the creative process.

Feedback on Project Framework

  • Five Cs and Logic:
    • Understand that all pieces of your analysis should interrelate logically.
    • The order of analysis is crucial (e.g., conducting SWOT analysis after establishing overarching goals).
  • SWOT Analysis Steps:
    • The action steps in SWOT should reflect reasoning, not just a list of actions.
    • Example: Instead of saying 'launch social media,' explain why this action is beneficial.

Marketing Goals and Objectives

  • Importance of SMART Objectives:
    • Goals must be specific, measurable, achievable, relevant, and time-bound.
    • Example: "Increase repeat customers by 15% within three years" is a SMART objective.
    • Students should avoid vague definitions and instead offer concrete examples.
  • Positioning Statements and Segmentation:
    • Clear segmentation is vital: determine target segments succinctly and avoid overly technical labels.

Reflections on Guest Speaker Feedback

  • Emphasis on evaluating the effectiveness of presentations rather than critiquing speakers.
  • Common audience engagement strategies mentioned include:
    • Using polls or open questions to create interactivity.
    • Engagement strategies improve the effectiveness of presentations and should encompass soft skills for business interactions.

Pricing of Sports Event Tickets - London Olympics Case Study

  • Ticket Pricing Insights:
    • Opening ceremony ticket: approx. $200
    • Synchronized swimming: approx. $175
    • Final event volleyball: approx. £95
    • High ticket price for events of high visibility (e.g., swimming featuring well-known athletes like Michael Phelps).
    • Analysis of ticket sales demonstrates the importance of known figures in determining pricing structures.

Global Marketing Context

  • Challenges in Global Marketing:
    • Companies must analyze local cultures, regulations, and logistics to effectively enter foreign markets.
    • Finding the balance between globalization (standardization) and localization (customization) is critical for success.
  • Segmentation Criteria:
    • In addition to traditional segmentation metrics (geographic, demographic, psychographic, behavioral), consider ethnicity for nuanced approaches.
  • Branding in Global Markets:
    • Definition from the American Marketing Association: A brand is any distinct feature (name, term, design, or symbol) that identifies goods or services.
    • The importance of brand visibility across various markets is highlighted, necessitating active participation of local teams in branding decisions.

Advertising and Commercial Examples

  • KFC Case Study in the UK:
    • Faced with delivery issues that led to temporary restaurant closures, KFC creatively addressed the situation through humorous marketing.
    • Key learning: Adaptability and local understanding in crisis management is essential for international brands.
  • Comparison of UK and US Cultural Sensibilities:
    • Different advertising strategies may resonate differently based on cultural context (e.g., KFC's humorous approach may not be as well received in the US compared to the UK).

Restrictions on Advertising Campaigns

  • Examples of banned commercials in the UK and their cultural implications highlight the need to navigate local sensitivities.

    • Toyota Hilux Commercial:
    • Banned for promoting irresponsible driving behavior in nature, reflecting environmental concerns.

  • Conclusion drawn from experiences and case studies emphasize the importance of localized understanding for international success, as seen through various examples shared during the course.

Class Engagement Techniques

  • Importance of Local Insights:
    • Trust the local teams for decision-making based on cultural and market-specific understanding.
  • Interactive Group Discussions:
    • Engaging with real-time scenarios leads to richer learning experiences within the marketing field.