Quiz 9: Promoting and Distributing
The advertising programs are used by the organizations to promote their products and services. They make the customers aware about the existence of the presence of their business with the help of advertising. Multiple advertising programs are available in the market; the selection is made on the basis of requirements of products and services. The basic decisions which should be made about the advertising program are as follows: • The budget of the program. • The media and resources through which advertisement is going to be published. • The content which is to be displayed. • The advertising agency which suits the products and services requirement. • The outcomes which are expected after the advertisement get published. The above decisions make the selection of advertisement channel feasible. The most important point is to identify the suitable resource and media as these are the channels through which advertisements will be reached to the target market. It can be concluded that choosing right advertising channel is must if productive outcomes are expected.
Ethnic differences refer to the change in morals and values. It is not necessary what seems ethical to one person should seems the same to other person. Ethics is moral sense of right and wrong which may differ as per one's understanding. These differences are formed on the basis of different cultures, customs, history, religion and language. Ethical differences are commonly observed across different countries. Some opportunities in catering to ethical differences are as follows: • These differences provide a vast expansion of markets for business. • Optimum use of resources is done when different markets are chosen for business. • Higher rates of return are generated due to differences in the currency values of different ethnic groups. • The products and services are customized as per the needs of the customers belong to different ethnic groups which in turn increase customer satisfaction. Some problems in catering to ethical differences are as follows: • It is difficult to earn profits due to diversified needs. • The political and economic conditions result in unfair competition. • Biasness and favors towards local firms always suppress other businesses. • The fluctuations in exchange rates with reference to different ethical groups also lead to problems. It is quite clear that opportunities and problems go hand in hand. It depends upon the entrepreneur what he wishes to choose. The planning and knowledge advancement play integral roles in shaping the path of the business.
International marketing means market the products in the other parts of the world. It is the fact that a global brand was never global since its beginning. Local brands become popular and turn global. But there are efforts which an entrepreneur gives to make the brand global from local are inevitable. International marketing is attractive on the one hand and puts too much responsibility on the marketers on the other hand. When products are marketed beyond its boundaries marketers need to understand the ethnicity, demography, cultures, trends and so many things which are related to a market. The job of analyzing the market and positioning in the target market segment is not an easy job for the local company or small business. Small businesses nowadays are adopting franchisee model or partnership model to enhance their marketing programs beyond boundaries. International marketing is the secondary activity for the small businesses but it does not mean that this activity should be a neglected one in the business. To perform internationally, a company or small business needs to run in its home country successfully. The new products should be tested in homeland first before hitting the foreign land. A product needs innovations from time to time and the operations are much easier in the domestic operations. International marketing operations are important to expand the business globally. In this era of information technology, presenting a product globally is very easy but supplying the product involves processes and laws which need to be sorted out. All these initial hurdles of starting global operations are tough but interesting for an organization who wants to grow with the time. After a certain period of time international marketing earns the foreign incomes which help the company to grow globally. It has been seen in several cases that presenting the footage of company in first country needs too much efforts but the process gradually becomes easier as the human capital also get skills and company also got the international presence.