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Chapter 12

Chapter 12. Marketing Communications . The Marketing Communication Process. Sender (Encodes Message). Message. Message Channel. Receiver (Decodes Message ). Noise. Communication Outcome. Feedback. Stages of the Negotiation Process. The offer

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Chapter 12

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  1. Chapter 12 Marketing Communications

  2. The Marketing Communication Process Sender (Encodes Message) Message Message Channel Receiver (Decodes Message) Noise Communication Outcome Feedback

  3. Stages of the Negotiation Process • The offer • assess each parties’ needs and commitment • Informal meetings • trust-building among deal makers • Strategy formulation • review and assess factors to be negotiated • Negotiations • form, informal, short or long • Implementation

  4. International Negotiations • How to negotiate in other countries • Team assistance • Traditions and customs • Language capability • Determination of authority limits • Patience • Negotiation ethics • Silence • Persistence • Holistic view • The meaning of agreements

  5. Marketing Communications Strategy Steps in Formulating Marketing Communications Strategy

  6. The Promotional Mix • Advertising • any form of non-personal communication • Personal Selling • the use of person-to-person communication • Publicity • non-paid, commercially significant news • Sales Promotion • Direct inducements of extra value or incentives • Sponsorship • Promoting interests of company by association

  7. The Promotional Mix • Push strategies • focus on personal selling, considered essential in international marketing of industrial goods. • Pull strategies • depend on mass communications (advertising of consumer-oriented goods) to reach target audiences over long distribution channels. • Integrated marketing communications • coordinated use of a broad range of promotional tools to reach a target market.

  8. Communications Tools • The choice of media is governed by the appropriateness media’s target audience and its efficiency in reaching that audience. • Business and trade journals • Broad-based media • Business Week, The Wall Street Journal • Horizontal media • focus on a particular marketing task(Purchasing World) • Vertical media • focus on a particular market or industry (Trucker World) • Directories and data services

  9. Communications Tools • Direct marketing • Is intended to elicit immediate and measurable responses to direct-response advertising, telemarketing, and direct selling. • Direct mail depends on acquiring mailing lists that target the intended audience. • Effective direct mailing require extensive planning of materials, format, and mode of mailing. • The Internet • A presence on the Internet is a necessity that can expand marketing communications world-wide with low costs.

  10. Trade Shows and Missions • Types of international trade events • Trade missions • Seminar missions • Solo exhibitions • Video / catalog exhibitions • Magnitude: Over 16,0000 trade shows generate $50 billion in business annually.

  11. Trade Show Participation • Reasons for participation • Customer can examine the product. • Goodwill and contact cultivation. • Locating a trade intermediary. • Opportunity to meet government officials and decision makers. • Opportunity for market research and collecting competitive intelligence. • Exporters able to reach sales prospects in brief time period at reasonable cost per contact. • Reasons for not participating • High cost. • Identifying the “right” trade shows to participate in. • Coordination.

  12. Personal Selling • The most effective promotional tool. • Costs per contact are high. • Yields immediate customer feedback and sales results. • Keys to personal selling • Salesperson’ has the ability to adapt to the customer and the selling situation. • Salesperson must have athorough knowledge of the product or service.

  13. Levels of Exporter Involvement in International Sales SOURCE: Framework adapted from Reijo Luostarinen and Lawrence Welch, International Operations of the Firm (Helsinki, Finland: Helsinki School of Economics, 1990), chapter 1

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