Contemporary Marketing Study Set 5

Business

Quiz 8 :

Product, Services, and Brands: Building Customer Value

Quiz 8 :

Product, Services, and Brands: Building Customer Value

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Do you agree with the goals and ideas of the proposed FTAA? Why or why not?
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The ideas of the FTAA are upright for the companies that operate from the Alaska's Bering Strait to Cape Horn. But, FTAA restricts firms from other countries to enter into the market where FTAA leads. This restricts the ASIAN firms to gain global advantage over the resources available in those FTAA countries.

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What are the two different classifications of tariff? What is each designed to do?
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Tariffs:
Tariff is a restricted tax that is imposed on imported and exported products and services. It is additional revenue to the government.
Classification of tariffs:
The tariffs are classified into revenue tariffs and protective tariffs.
• Revenue tariffs: A tax which is applied on the products and services and are designed to increase the revenue of the importing government.
• Protective tariffs: A tax which is applied on the imported goods to increase its price to match or exceed that of similar domestic product.
Main objective of protective tariffs:
Countries usually use this practice to discourage the consumption of foreign products in the domestic market or to encourage the people to buy domestic products. This is another way of protecting the domestic companies from global competition.

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Scripps Networks Interactive has engineered a huge success based on the single behavior shared by all consumers: everyone eats. In fact, it's so obvious that marketers could easily overlook it when trying to identify consumer behaviors and influences. But Scripps has built an empire of food-related networks and shows, including its flagship Food Network. Although everyone eats, the challenge to marketers is figuring out what people eat, when they eat, how they eat, and with whom. "Food behavior is very situational," observes Sergei Kuharsky, senior vice president and general manager of licensing and merchandising at Scripps. This means that sometimes people actually behave differently from what they say they do, or change their behavior based on certain conditions. Food choices might depend on how they feel, who they're with, what options are available, and so forth. Of course, food choices depend on other influences as well-cultural (vegetarianism or buying local), social (aspiring to fine foods or restaurants), and family (the husband or wife makes menu decisions). To make sense of all of this, Scripps relies on consumer interactions with social media. "It's easy for us to know what our viewers value because we talk to them all the time," says Kuharsky. "Word-of-mouth is the best advertising in the world, and it's also the best recommendation in the world. Social is really people reaching out to people they trust, to find things that they like." Since food is universal among consumers, the trick is to narrow the experience enough to actually target a demographic and decision makers. "The beauty of Food Network is that it plays in multiple demographics," says Laura Galietta, senior vice president of ad sales and marketing. The company's main demographic is the 25 to 54 age group, but Galietta points out that Food Network is also very popular among other demographic groups. The network's core viewers are those women who are decision makers in their households. So the marketers' strategy is to reach upscale women with credit cards and the authority to decide what to buy. Since these consumers are also avid users of social media, Scripps and Food Network play to that strength. Social media helps Scripps and Food Network marketers tap into viewers' perceptions and attitudes. "You can get a read so much more quickly through social media," says Susie Fogelson, senior vice president for marketing, creative services, and public relations. "You need a reliable sample to be able to glean true results, but it gives you a sense of what people are thinking about." Fogelson acknowledges that consumers who actually take the time and effort to engage in conversations online are often the "small, fiery group." But they do provide valuable information. "I think social media is the greatest gift to a marketer and also a tremendous responsibility." In addition to marketing to consumers, Scripps and its branded networks market to other businesses. These organizations generally fall into one (or more) of three categories: advertising partners, affiliate partners, and new business partners. Advertisers understand the value of Scripps brands and their broad reach; they advertise because it makes sense for these viewers to see their products. "We have an expertise and authority that our advertisers want to latch on to," says Galietta. The partner relationship goes further, according to Galietta. A partner understands the deeper meaning that Scripps' brands have in people's everyday lives, and that working with Scripps will help them tap into that. These B2B partnerships generally function for mutual benefit. For example, retailer Kohl's sells Food Network-branded stainless steel cookware and other products that consumers may buy after being inspired by their favorite cooking shows. Entwine Wine is a partnership between Food Network and the California-based Wente Vineyards to offer a collection of fine wines that are also affordable to consumers looking for the perfect food and wine pairings. Scripps' business partners also understand the value of being part of a hit show like Food Network Star, on which they promote their products and messages. These firms then promote their relationship with Food Network at their own websites, Facebook pages, and the like. Food Network and Buitoni ran a sweepstakes on Twitter, during which viewers could Tweet to win free pasta after watching the show. "People want to know more," explains Galietta. "They want to know what happens after the show ends, and they want to be part of it." Scripps and Food Network accomplish this through social media. Scripps and its branded networks have successfully leveraged the universal appeal of food. "We position the Scripps portfolio as brands for life," remarks Galietta. "We have great brands, we inspire people to act, and the TV commercials are informational. Viewers take that information and go online to find out more-and then they act." Action is the endgame for marketers, whether it's on the part of consumers or business partners. Questions for Critica l Thin king 1. Scripps identifies its core audience as upscale women who are decision makers. Give at least one example each of cultural, social, and family influences that might sway their viewing and purchasing choices as related to Food Network. 2. What marketing efforts might Scripps and Food Network make to change the attitude of men who are not viewers, so that they become viewers of Food Network? 3. How would you segment Food Network's business partners? Give an example of each segment you cite. 4. In addition to the free-pasta sweepstakes, describe how Buitoni might leverage its relationship with Food Network via social media.
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SNIFM has been in the business of food and allied shows by understanding buyers and markets. They have analyzed successfully and implemented the findings very expertly. They needed to understand that food is a very subjective issue and very situational as well.
So, figuring out and answering the how, when, whom and what of food would enlighten the ways of marketing these foods and related shows in SNIFM. Now, as they identify the upscale women as the major decision makers, there are certain situations which might change these decisions which were primarily formed by these shows.
Cultural: Otherwise regular purchase of the foods generally get changed during occasions like Halloween. The household prepares to welcome relatives and friends, and so there is a change required in food, and allied purchases.
Social: Social programs like Thanks Giving Days call for relatives, friends, and colleagues to be entertained and hence good food served, full of knowledge and taste becomes important.
Family: Occasions like birthdays, anniversaries, or kitty parties at home make the women to change the otherwise taken decisions of food menus.

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Global marketing strategies. Samsung-the electronics company based in South Korea-has been quite successful over the past ten years at marketing its products worldwide. Visit the Samsung website and note two or three elements of the firm's global marketing strategy. Next visit the websites of two other global electronics companies, such as Sony or Philips. Compare and contrast the marketing strategies used by all three companies. www.samsung.com www.philips.com www.sony.com
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Many people would assert that New York's Broadway is the hub of the musical theater universe. Some would argue that the West End in London holds that title Nederlander Producing Company has a firm foothold in both cities. Founded in Detroit in 1912 by David T. Nederlander, the company is in its third generation as a family-owned, family-run company that produces shows as well as owns and manages theaters here and abroad. "When you think about the musical format expanding around the world, that really doesn't happen unless you've succeeded on Broadway," says Nick Scandalios, executive vice president of the Nederlander Organization. "Broadway is the global imprimatur, it's the Good Housekeeping seal of approval." But it works both ways, as evidenced by the recent revival of Evita that made its way from London's Adelphi Theatre (owned by Nederlander) to New York. Nederlander entered the international market through direct investment by purchasing theaters in London. It now owns three prestigious locations: Adelphi Theatre, Aldwych Theatre, and Dominion Theatre. According to Scandalios, Nederlander is one of the few successful theater production companies in the United Kingdom that is American. Depending on the theme of the show, its target audience, and its performers, a straight product extension might work. But variables, such as language differences and the contractual availability of performers, make production adaptation the more likely strategy for moving a show from one country to another, even if it's only from New York to England. For example, slight variations in word use or interpretation could make a joke or lyric soar or flop. For this and other reasons, it took Nederlander and co-lead producer Scott Sanders about six years and $10 million to bring a new production of the hit musical Evita from London back to New York. This process included everything from discussions with creators Andrew Lloyd Webber and Tim Rice to the hiring of new performers. In the meantime, the Nederlander Organization also set its sights much farther afield on countries like China and Turkey. Recently, Nederlander Worldwide Entertainment signed a global strategic partnership agreement with the China Arts and Entertainment Group (CAEG) to endorse and promote Chinese cultural products to the world. While Nederlander recognizes the huge market in China and CAEG's exportation of more than 630 shows internationally over the past decade (along with its purchase of 30 theaters throughout China), CAEG is looking for Nederlander's help with more sophisticated management and new channels of distribution. Nederlander will help CAEG get its productions into overseas markets, while CAEG will help Nederlander enter the Chinese market. In Turkey, Nederlander Worldwide has partnered with the Zorlu Property Group to create and develop a performing arts center complex in Istanbul. The new center contains two theaters, one seating 2,300 customers and the other seating 770-making it the largest multipurpose performing arts center in Turkey's capital city. The center hosts concerts, dance performances, and Broadway musicals, along with other types of entertainment. "Istanbul is home to thousands of years of history with a rich cultural tradition, and it's an honor for us to work with Zorlu Property Group," says Robert Nederlander, Jr., president and CEO of Nederlander Worldwide Entertainment. Zorlu officials say their goal is to make Istanbul an international cultural center, noting that when tourists visit such major cities as New York, London, or Paris, they often like to take in a concert or theater production. With the addition of the center in Istanbul-and the marketing clout of Nederlander-they hope to put Istanbul on the global theater map. All of these projects need audiences, and the only way to put people in those theater seats is to sell tickets. One future goal for Nederlander is to connect ticket purchasing globally-so a traveler from the United States can buy a ticket to a show in London, Istanbul, or Beijing before departing from U.S. soil. If seats are sold out? It'll be easy to book another show with a keyboard click. Questions for Critical Thinking 1. How might Nederlander benefit from expanding its business throughout the European Union (outside the United Kingdom)? What might be the drawbacks? 2. Nederlander has already engaged in some product and promotional adaptations to bring shows from London to New York and vice versa. What additional adaptations might the firm have to make for the Turkish and Chinese markets?
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Imagine you and a classmate are marketers for one of the following companies: Apple Inc., Burger King, General Mills, or Mattel Toys. Choose one of the following markets into which your company could expand: Mexico, India, or China. Research the country's infrastructure, social-cultural environment, technological environment, and any possible trade barriers your firm might encounter. Then present your findings to the class, with a conclusion on whether or not you think the expansion would be beneficial.
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World statistics. The CIA World Factbook contains a wide range of information and statistics on individual countries. Go to www.cia.gov, select "World Factbook," and then "Guide to Country Comparisons." Next, click on the relevant section to obtain the top five countries in each of the following: a. Per-capita GDP b. Real growth rate in GDP c. Inflation rate d. Exports e. Population growth rate
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Zippo lighters have been around for more than 80 years. But as the number of smokers in the United States continues to decline, Zippo has spent the last half-century scouting the world for new markets. Today, Zippo is a status symbol among Chinese consumers, who prefer U.S. products. Recently, Zippo also broadened its product line to include watches, writing instruments, and items for outdoor enthusiasts. Can you think of other product lines that would be logical extensions for Zippo? And if Zippo decided to introduce additional product lines, which would work better: a global marketing strategy or a multidomestic strategy? Explain the reasons for your choice.
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Assume you are a marketer for Weight Watchers International, a global company that holds meetings in more than 25 countries. With a classmate, identify a country that Weight Watchers has not yet reached and write a brief plan for entering that country's market. Then create a print ad for that market (you can write the ad copy in English). It may be helpful to visit Weight Watchers' website or Facebook page for some ideas.
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Why is a nation's infrastructure an important factor for global marketers to consider?
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The 2014 Winter Olympics will be held in Sochi, Russia. By yourself or with a classmate, identify a company that might benefit from promoting its goods or services at the Sochi Olympics. In a presentation, describe which strategy you would use: straight extension, product or promotion adaptation, dual adaptation, or product invention.
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What are two major victories achieved by the Uruguay Round of GATT conferences?
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Cheap-and illegal-copies of pirated popular movies, video games, and music often are available for sale in Asia within days of their worldwide release. The entertainment industry has so far had little success in stopping the flow of these copies into consumers' hands. Do you think multinational economic communities should be more effective at combating piracy? Why or why not? What actions could they take?
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Suppose you work for a firm that is getting ready to introduce its brand of MP3 player to the Chinese marketplace. With a classmate, decide which strategies your firm could use most effectively for entering this market. Present your ideas either in writing or to the class.
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What are the benefits to firms that decide to engage in global marketing?
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Do you agree with countertrade as a legitimate form of conducting business? Why or why not? Describe a countertrade agreement that Microsoft might make in another country.
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Chinese currency policy. Critics contend that the Chinese government pursues policies that keep the value of the Chinese currency artificially low relative to other currencies such as the U.S. dollar and the euro. Using Google News and other online news sources, research the current state of Chinese currency policy. Why would the Chinese government engage in such efforts? What impact do these efforts have on global trade? Assume you work for a U.S.-based firm that engages in extensive trading operations with China. What impact would a major revaluation of the Chinese currency have on your firm? http://news.google.com
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Although India has long been a tea-drinking culture, the country's southern area is home to huge coffee farms. And thanks to a growing youth market and increasingly comfortable middle class, more of India's 1.2 billion people are discovering the joys of coffee every year. Enter Starbucks. The U.S. coffee giant is making a later debut in the Indian market than it planned, after outlasting the government's reluctance to upset local firms by allowing foreign business ownership. To comply with regulations, Starbucks has signed a 50-50 partnership with Tata Global Beverages, the country's largest coffee producer and owner of a hotel chain and in-flight food service, which opens two more business avenues for its U.S. partner Starbucks is focusing initially on retail stores and hopes to open 50 cafés in Mumbai and New Delhi in its first year. In its favor are huge momentum from its U.S. success, its status as an "aspirational brand" that represents affordable luxury to many Indians, and the desire among India's youth for an inexpensive place to socialize away from home and parents. Tata's local expertise will help Starbucks overcome some deficiencies of the country's infrastructure, such as still-developing road and rail systems. Challenges Starbucks faces in India include the success of a home-grown competitor: Café Coffee Day recently expanded to 1,200 stores in 175 cities. Other opportunistic competitors include Lavarazza from Italy and Coffee Bean Tea Leaf from California. Starbucks will also have to overcome price resistance; Café Coffee Day sells its small cappuccino for about $1. Finally, as one industry analyst observed, "There are certain things that different cultures never accept." Starbucks will need to correctly adapt its business and customer strategies, and its product offerings, to India's unique and vibrant culture. Starbucks is pinning its hopes on the 25 percent growth recently observed in India's coffee-drinking market. The head of one Indian consulting firm sees no reason why the chain could not successfully expand to 5,000 stores over the long term. If Starbucks targets only the top 20 percent of India's population, he says, that market is the size of the United States. QUESTIONS FOR CRITICAL THINKING 1. How can Starbucks best adapt the U.S. model for its cafés and menus to a young and middle-class Indian market? 2. What can Starbucks do to compensate for competitors taking advantage of its late entry to the Indian market?
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How does an import quota restrict trade?
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Few elements in the global marketing environment are more difficult to overcome than the unexpected, such as natural disasters or outbreaks of disease such as the avian flu. Travel may be curtailed or halted by law, by a breakdown in infrastructure, or simply by fear on the part of consumers. Suppose you work for a firm that has resorts on several continents. As a marketer, what kinds of contingency plans might you recommend for your firm in the event of an unexpected disaster?
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