class18_culture

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Business-Finance

Published on January 13, 2009

Author: aSGuest10362

Source: authorstream.com

Project Report : Project Report Page limit: 7 (not 8!!) double spaced pages in Times Roman 12 point font (including tables) Due date: May 21, 5 pm Very strict on page limit and due date! Project Report : Project Report 2 major issues: WHAT YOU FOUND: comparisons of “your” brand with competing brand (bi, ei, other measures) Include tables in body of report Discuss some possible reasons for your findings (especially if some surprising findings) RECOMMENDATIONS: 4P strategy based on your findings special focus on advertising strategy Project Report…First, tell me what you found : Project Report…First, tell me what you found One key component: Fishbein tables Attitude Measurement: Brand A : Attitude Measurement: Brand A Salient Beliefs Belief Strength (bi) Eval Score (ei) biei Overall attitude = +7 Salient Beliefs Belief Strength (bi) Eval Score (ei) biei Overall attitude = +5 Attitude Measurement: Brand B Describing your Findings… : Describing your Findings… Present your tables in the body of the report Just describe what you think are the major interesting findings from these tables E.g., very poor performance on one attribute. Differences between segments Talk about why you’re getting some of these findings…for example, why is your brand doing badly on some attribute? (e.g,. if Bi on Fashionable styling is low) What are the marketing reasons that have led to this? Next: Recommendations… : Next: Recommendations… For each recommendation Identify which number (or numbers) in the tables that you want to change Identify whether you are changing b or e Identify which P or P’s you will need to use to change that number or numbers Do this for each recommendation you make Make sure the different recommendations are internally consistent (not high price; but huge ad budget) Make sure it’s realistic (shouldn’t change –3 to + 3; shouldn’t act as if unlimited budget) Recommendations… : Recommendations… Not compulsory, but would be good if you included at least some advertising-based recommendations (since we have talked a lot about advertising issues) E.g., a rough draft of an ad that you might create to implement your desired changes The rationale for such an ad (what kind of advertising tactic; what media, repetition required?, etc.) General Points : General Points Appropriate use of CB concepts (+ other marketing classes) will be rewarded! Attitude change: classical conditioning; peripheral cues How to increase memory? What type of decision making would you encourage (e.g., CDM, habit…) and how? (maybe involvement scores will help here) In general, think about role of involvement Price can be a crucial variable -- changing ei/bi. Can build a coherent strategy around price Do not try to address all weaknesses! But don’t just make one recommendation! Any Questions? : Any Questions? Last topic in the course… : Last topic in the course… Miscellaneous Influences : Miscellaneous Influences Marketer Influences Communications Consumer Influences (background) Personality and Lifestyle Environmental Influences Family Important others (Reference groups) Culture Culture : Culture Culture = set of values accepted by society as a whole (e.g., US: individualism; materialism; East: harmony, collectivism) Values are learnt: how? Values can change (example?) Values differ across cultures : Values differ across cultures Value of time: how late is late? California: 19 minutes Brazil: 34 minutes The reason cross-cultural differences are important is…. : The reason cross-cultural differences are important is…. Rise of Global Marketing Many reasons for this… for instance? Rise of Global Marketing : Rise of Global Marketing Decrease of trade barriers (NAFTA; Europe; China; India) Market saturation in own countries; huge market potential in others (China; India) Worldwide media available (CNN; MTV) Universal trends in lifestyle and demographics: example?? So Global Marketing Is Here to Stay… : So Global Marketing Is Here to Stay… But when you do global marketing… Cultural Problems in Global Marketing : Cultural Problems in Global Marketing Customs and Values Left hand drive cars in Japan HK, Japan = steering wheel on right of car USA = left Camay soap Language “Nova” car in Spain Physical differences Mattel: Barbie dolls in Japan Careful Market Research Needed to Avoid Cultural Problems! How to do Global Marketing : How to do Global Marketing Standardization: keep the same marketing strategy: Levis; Coke successful because of glamour attached to American way of life Localization: make major changes to strategy across cultures Maggi Noodles in India Flexible globalization: keep several elements same; adjust a few Pizza Hut in Hong Kong (sea food toppings) McDonald’s in India (no beef) In General, Need to be Sensitive to the Local Culture : In General, Need to be Sensitive to the Local Culture Will watch tape in a little while to illustrate this… Quiz 4 : Quiz 4 May 6th (Next Tuesday) LTD, 7 to 8 pm Materials Communications (Chapter 11: 350-367) Lifestyle and Personality (Chapter 13: pg. 421-449) Family Influences (Chapter 17: pg. 565-582) Reference Group Influences (Chapter 16) Culture (Chapter 14: pg. 457-473) and Cross-Cultural Issues (Chapter 15: pg. 492-508) No need to learn facts (e.g., “American lifestyle trends” -- just skim them for interest) Presentation Order: L1 : Presentation Order: L1 May 8th: Group 4 Group 3 Group 7 May 13th: Group 9 Group 2 Group 1 May 15th Group 6 Group 8 Group 5 Presentation Order: L1 : Presentation Order: L1 May 8th: Group 24 Group 21 Group 22 May 13th: Group 25 Group 27 Group 28 May 15th Group 23 Group 29 Group 26 Presentation Guidelines: 15 mts : Presentation Guidelines: 15 mts Introduction: (3 minutes) product category; 2 brands; attributes selected from depth interviews; who was interviewed Major Findings (6 minutes; use tables) Average bi, ei and attitudes about the 2 brands on various attributes any other measures you have taken (optional) what did you conclude about your brand’s current position (why is it doing badly?) Marketing Recommendations: Overall Strategy (6 minutes) Criteria for Presentations : Criteria for Presentations Keeping to time limit: Most Important!! Style Being confident; not nervous Conversation (not lecture!) Clarity: Slides and Speaking Structure should have good organization of slides Answering questions: questions to be asked at end: (5 minutes kept for this) Content Other Points : Other Points Overhead projector recommended: setup time is part of your 15 minutes time: So be here a few minutes before time!!! Attendance compulsory contribute to other groups; will lose marks if absent learn from their presentations Relax! Don’t just read out Walk around a bit while talking Not compulsory for everyone to speak (but good if you can) Informal dress is fine! We will start presentations exactly on time – don’t be late!!! Tape: Going International : Tape: Going International Ingratiation techniques… making people like you

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