Unit EightGlobal Marketing

Unit 8 Vocabulary

Consumer MarketInternational MarketingMarketing EnvironmentMarketing PlanMarketing ProcessOrganizational Market

Unit 8 Essential Question

How does marketing impact the global market?

Amplifying Questions

What are the elements What are the elements of the marketing mix?of the marketing mix?

How is the marketing How is the marketing plan used in global plan used in global marketing activities?marketing activities?

Essential Question 1Global Marketing

How does the marketing mix relate to the marketing plan?

International Business pg. 420-430

The Marketing Process

Carry out the marketing plan

Plan the marketing strategy for the marketing mix based on marketing research

Identify business opportunities

Evaluate potential demand and consumer behavior patterns

The Marketing MixProductGoodsServices

PlaceTransportationStorageWholesalingRetailing

PromotionAdvertisingPersonal sellingPublicitySales promotions

PriceValue to consumerProduction costs

The Marketing

Mix

Marketing of Services

Consumer services:Lawyers, Doctors, Hairstylists, Repair Shops,

Teachers, etc.

Commercial services:Advertising, Information Systems, Security,

Maintenance, etc.

Distribution of services:Unlike goods, distribution of services usually occur at

time of consumption.

The Marketing Plan

Company goalsDescription of customers and their needsInformation about competitorsInformation about trends

—economic, social, legal, and technologicalFinancial and human resources availableTime line of actions to be takenMethods for measuring success

Amplifying Questions

What are the factors What are the factors that make up the that make up the international marketing international marketing environment?environment?

What factors influence What factors influence consumer behavior in consumer behavior in different countries?different countries?

How are markets How are markets segmented and a target segmented and a target market identified?market identified?

Essential Question 2Global Marketing

What marketing activities are used in international business?

International Business pg. 432-438

The Marketing Environment

Geography:Climate and terrain affect the types of

products sold and transportation methods used.

Economic conditions:High inflation may discourage foreign entry.A country’s currency value will affect selling

price, demand and profits.

The Marketing Environment

Social and cultural influences:Tastes, habits, customs, and religious beliefs

all affect the marketing environment.

Political and legal factors

Consumer Behavior

Physical and emotional needs:Food, clothing, shelter, health care,

transportation, personal satisfaction, etc.

Geographic and demographic factors:Location, climate, population trends, age,

gender, income, education, etc.

Consumer Behavior

Personality and psychographic factors:Attitudes toward risk, change, convenience,

and competition.Hobbies, family activities, interests, political

and social opinions.

Social and cultural factors:Family, friends, organizations, religions.

Selecting a Target Market

Market segmentsAchieversStriversTraditionalists

Target market