ONE OF THE SECRETS TO SUCCESS IS IDEAS MIXED WITH INSPIRATION.
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Transcript of ONE OF THE SECRETS TO SUCCESS IS IDEAS MIXED WITH INSPIRATION.
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ONE OF THE SECRETS TO SUCCESS IS IDEAS MIXED
WITH INSPIRATION.
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BUDAPESTI GAZDASÁGI FŐISKOLA
INTERNATIONAL MARKETING
LECTURE- 10In English
4th May2012 – FRIDAY
0940hr –1110hr (E.F. 7-9)
Miklós (Nicholas) SOÓS0630 265 9638
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LECTURE DATES - TIMES - LOCATION RE: Miklós (Nicholas) SOÓS
1. FEB. 17. 0940-1110 [E.F.13-15]
2. FEB. 24. 0940-1110 [E.F.13-15]
3. MARCH 2. 0940-1110 [E.F.13-15]
4. MARCH 9. 0940-1110 [E.F.13-15]
MARCH 16. VACATION
MARCH 23. VACATION
5. MARCH 30. 0940-1110 [E.F.13-15] – re. feb.10
6. APR. 6. 0940-1110 [E.F.13-15] (guest lect?)
7. APR. 13. 0940-1110 [E.F.13-15]
8. APR. 20. 0940-1110 [E.F.13-15]
9. APR. 27. 0940-1110 [E.F.13-15]
10. MAY 4. 0940-1110 [E.F.13-15]
11. MAY 11. 0940-1110 [E.F.13-15]
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CLASS ATTENDANCE
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Lectures No. %
Lect. 1 16 24
Lect. 2 22 33
Lect. 3 30 45
Lect. 4 30 45
Lect. 5 35 52
Lect. 6 34 51
Lect. 7 34 51
Lect. 8 24 36
Lect. 9 19 28
Lect. 10
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Please ensure that you personally sign the
attendance sheet every time you attend a
lecture.
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The visual contents of lectures will be available internally on
the following site:
K:\Hallgatok\ANGOL\Soós tanár úr
(available internally only)
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SOURCES, REFERENCES – SUGGESTED READINGS
The course is NOT based on any specific textbook. The following are recommended.
International Marketing, Cateora, P. & Graham, J. (2005) 12th edition, McGraw-HillGlobal Marketing, Hollensen, S. (2004) 3rd edition, Prentice Hall
International Marketing Strategy, Doole, I. & Lowe, R (2004) 4th edition Thomson
International Marketing and Export Management, Albaum G, Prentice Hall London
Principles of Marketing, Kotler P et. Al, 2nd European edition, Prentice Hall E. 2003
Principles of Marketing, Jobber D, McGraw-Hill
Principles of Marketing, Brassington F, Financial Times Prentice Hall, 2000
Marketing on the Internet: Principles of online marketing, Strauss J & Raymond F, Prentice Hall,1999
Internet sites:
www.pmcinc.org/
www.tradeport.org
www.FAS.USDA.gov
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ASSESSMENT METHOD
End of year written examination 60%
Two (2) ‘mini’ exams of 20 min. duration
during unannounced lectures 40%
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BGF. INTERNATIONAL MARKETING – MINI TEST 1 - ASSESSMENTS
Markscale % No.
<45 8
46-50 5
51-55 0
56-60 3
61-65 0
66-70 3
71-75 0
76-80 1
81-85 0
86-90 0
91-95 0
96-100 1
Total no. of students: 21
Class average : 52%
Lowest score 10%
Highest score: 100%
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0
1
2
3
4
5
6
7
8
40(-)
41-45
46-50
51-55
56-60
61-65
66-70
71-75
76-80
81-85
MINI TEST 1 & 2 - RESULTS
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Where we finished last week.
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THE RESEARCH PROCESS & INTERNATIONAL ISSUES
Problem identification
Problem identification
Selection of research design
Selection of research design
Information gathering Data collection
Information gathering Data collection
Analysis & interpretation
Analysis & interpretation
Dissemination of results
Dissemination of results
Geography & distance Cultural Lack of marketing knowledge Differing perspective
Construct equivalence Measurement equivalence Sampling equivalenceSecondary data - Accuracy - Comparability - Reliability - SourcePrimary data - Respondent bias - Researcher bias
Comparability of results Local biases in results
Eliminate self-reference criterion Avoid culturally offensive conclusions
RESEARCH PROCESS INTERNATIONAL ISSUES
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DISTRIBUTION ??
Concerned with transporting goods and services in the most cost effective and efficient way, from where they are to where they needed to be.
The role of delivery (distribution) is to ensure the safe and timely provision of goods and services from the suppliers to the organisation and from the organisation to the final customer or client – the final journey to Place, from the four Ps.
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IMPORTANCE OF DISTRIBUTION
Marketing channel decisions are among the most important decisions that management faces. The company’s channel decisions are linked with every other marketing decision.
The company’s pricing depends on whether it uses mass merchandisers or high quality specialty stores.
The firm’s sales force and advertising decisions depend on how much persuasion, training and motivation the dealers or resellers need.
Whether a company develops or acquires certain new products may depend on how well those products fit the abilities of its channel members.
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DISTRIBUTION CHANNEL is an organised network of agencies that combine to LINK PRODUCERS WITH USERS.
Distribution is the physical flow of goods through channels.
A channel makes a product or service available in a convenient location (place), makes a product or service available when wanted
(time), packages or reprocesses product or service into a usable form (form), advises about the product or service and its attributes
(information).
In international marketing distribution channels can be a source of competitive advantage OR a cause of problems.
Channels involve relationships and the management of those relationships will determine the success of the firm’s international
marketing efforts.
Important to establish the right distribution channel because title is transferred, control is more difficult to exercise and competitive
environment is fiercer.
International distribution channels can be of varying length.somi
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DISTRIBUTORSHIP
DISTRIBUTOR • buys from the supplier on his own account, at own risk,
in his name
• resells to customers on his own account,
• supplier may be subject to warranties
Supplier customersDistributor
Distribution contract
Sale contract
sales
service
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THE DISTRIBUTOR
• imports the product on his own account,
• resells on his own account, at own risks
• marks up the supply price to cover his profit,
• if necessary undertakes services,
• normally carries a stock,
• likely is involed in local publicity,
• undertakes distribution in the market
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THE SUPPLY PROCESS: - SUMMARISED
THE ORGANISATION
Buys
Processes
Sells
S U
P P
L I
E R
– M
A N
U F
A C
T U
R E
R
C U
S T
O M
E
R
info
rmat
ion
info
rmatio
n
Purchase inquiry
Sales information
Negotiation, agreement
Supply
Payment
Information on performance
Purchase inquiry
Sales information
Negotiation, agreement
Supply
Payment
Information on performance
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Manufacturer Manufacturer Manufacturer Manufacturer
Exporting intermediary
Importing intermediary
in foreign country
Wholesaler in foreign country
Retailer in foreign country
Exporting intermediary
Wholesaler in foreign country
Wholesaler in foreign country
Wholesaler in foreign country
Retailer in foreign country
Retailer in foreign country
Retailer in foreign country
Importing intermediary
in foreign country
Consumer or industrial
user
Consumer or industrial
user
Consumer or industrial
user
Manufacturer Manufacturer
Consumer or industrial
user
Retailer in foreign country
Consumer or industrial
user
Consumer or industrial
user
INTERNATIONAL DISTRIBUTION CHANNELS LONG VERSUS SHORT
LO
NG
CH
AN
NE
LS
HO
RT
CH
AN
NE
L
And/or And/or And/or And/or
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BASIS UPON WHICH APPROPRIATE CHANNEL INTERMEDIARIES ARE TO BE CHOSEN
THE 11 Cs
1. Customer characteristics
2. Culture
3. Competition
4. Company objectives
5. Character of market
6. Cost
7. Capital required
8. Coverage needed
9. Control issues
10.Continuity provided
11. Communication effectiveness
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PRICEis the only marketing variable that produces revenue
Price in international marketing is often used as an indicator of quality until experience indicate
otherwise.
When price is perceived as being similar for alternative products , then product quality or value as communicated through the brand becomes the
deciding factor in the decision to purchase.
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IMPORTANT ASPECTS OF PRICING
Prices must:
1. provide the customer with value for money
2. cover the costs of product or service
3. be competitive
4. be consistent with corporate objectives
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PRICE & DEMAND
In open markets, the demand for a product or service is related to the extend
to which people are able and willing to buya product or service at different prices.
In open markets, the demand for a product or service is related to the extend
to which people are able and willing to buya product or service at different prices.
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THE DETERMINANTS OF DEMAND
The demand for a product or service depends on 4 elements:
1. The price of the product / service
2. The prices of competing products / services.
3. The consumer’s income.
4. The consumer’s preferences.
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INTERNATIONAL PRICE STRATEGY FRAMEWORK
Firm-level factors• Strategic objectives• M.share, profit,costs• 4Ps…………• Inventory level
Firm-level factors• Strategic objectives• M.share, profit,costs• 4Ps…………• Inventory level
Product-specific factors• Life cycle• Substitutes• Quality, service, delivery
Product-specific factors• Life cycle• Substitutes• Quality, service, delivery
Environmental factors• Competition• Exchange rate• Inflation rate
Environmental factors• Competition• Exchange rate• Inflation rate
Market-specific factors• Consumers• Government intervention• Distribution channel• Barriers to trade
Market-specific factors• Consumers• Government intervention• Distribution channel• Barriers to trade
Foreign price setting• price relation to product line• redesign & price implication• transfer price setting• inflation adjustment• pricing for multinational clients• client-specific pricing
Foreign price setting• price relation to product line• redesign & price implication• transfer price setting• inflation adjustment• pricing for multinational clients• client-specific pricing
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CIVILAZATION IS THE INTELLIGENT MANAGEMENT OF HUMAN EMOTION.