Marketing Mixes
Marketing Mixes
Marketing Management Section D07
May 5, 2013
Abstract
Marketing mixes are important to any firm. It is important for a firm to adopt and change certain things in their mix to fit the country they are entering. This paper shows different examples of products that were successes and failures in the global market.
Marketing managers have critical decisions to make when entering the global market. They must think about how price, promotion, product, and place are different in another county besides the one that is known as home base. There were at least nine examples in the text that relates to the marketing mix on a global scale. Some have more examples than others.
Price
In the domestic market pricing is a complex task, but the global market is much more complex. A company has to consider trade restrictions, tariffs, antidumping laws, taxes, inflation, and currency conversion. Ikea has prided itself on reaching their target market of “middle-class strivers”. They look at an unmet customer need such as a piece of specific furniture at a given price point. Then they work with their designers and manufacturers to deliver the product at a value price (Peter & Donnelly pp. 210).
Promotion
Language is a large barrier to overcome when in the foreign market. A way to overcome this is to hire a local advertising company within the country that is being marketed to. Another way is to hire a U.S. based multinational agency or multinational agency that has offices in the U.S. Coca-Cola Company uses a company to create ads for 80 countries in which their product is located. The use of the super agency is growing (Peter & Donnelly pp. 313). Pepsi and Frito-Lay used special advertising campaigns in Brazil for soft drinks and in China for the popular snack, Cheetos (Peter & Donnelly pp. 204).
Product
To figure out if a firm’s product can be marketable in another county there is some research that has to go into it. It needs to be
Marketing Management Section D07
May 5, 2013
Abstract
Marketing mixes are important to any firm. It is important for a firm to adopt and change certain things in their mix to fit the country they are entering. This paper shows different examples of products that were successes and failures in the global market.
Marketing managers have critical decisions to make when entering the global market. They must think about how price, promotion, product, and place are different in another county besides the one that is known as home base. There were at least nine examples in the text that relates to the marketing mix on a global scale. Some have more examples than others.
Price
In the domestic market pricing is a complex task, but the global market is much more complex. A company has to consider trade restrictions, tariffs, antidumping laws, taxes, inflation, and currency conversion. Ikea has prided itself on reaching their target market of “middle-class strivers”. They look at an unmet customer need such as a piece of specific furniture at a given price point. Then they work with their designers and manufacturers to deliver the product at a value price (Peter & Donnelly pp. 210).
Promotion
Language is a large barrier to overcome when in the foreign market. A way to overcome this is to hire a local advertising company within the country that is being marketed to. Another way is to hire a U.S. based multinational agency or multinational agency that has offices in the U.S. Coca-Cola Company uses a company to create ads for 80 countries in which their product is located. The use of the super agency is growing (Peter & Donnelly pp. 313). Pepsi and Frito-Lay used special advertising campaigns in Brazil for soft drinks and in China for the popular snack, Cheetos (Peter & Donnelly pp. 204).
Product
To figure out if a firm’s product can be marketable in another county there is some research that has to go into it. It needs to be
References: J. Paul Peter. & Donnelly, James H. Jr. (2013) Marketing management: knowledge and skills. (11th ed., pp.201-215). New York, New York: McGraw-Hill.