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Showing posts with the label international marketing

The Effectiveness of Push vs. Pull in Online Marketing

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Marketing strategy is arguably one of the major components of running a successful business. Without customers you have no sales, revenue or reason to exist. Online marketing is still in its infancy and will continue to grow and develop for the foreseeable future. A study by Spilker-Attig & Bettel (2010) analyzed the effectiveness of push and pull strategies at an online retailer by using 2.7 million orders across different price points.  People regularly confuse the subtle but important difference between marketing and sales. Marketing is the long-term oriented strategy and sales are short-term customer-specific transactions (Homburg, et. al., 2007).   Marketing focuses on a larger demographic and casts a wide net while sales is focused more on specific activities that pin-point customers.  All sales are based on interactivity between the company and its customers. Connectivity is seen as an important variable in online advertisement (Roehm & Haugtvedt, 1999).  

Using Marketing Databases to Foster International Growth in Multiple Businesses

The global world is complex and contains floating pieces of information that are difficult for marketing researchers and businesses to collect and understand. For most businesses it can be difficult to collect data in a way that is useful for strategic decision-making. According to a paper by Michael Anastasiou businesses should consider using shared databases that allow for higher levels of understanding and analysis of international market information (2012).  Because the market continues to change it is important for businesses to have relevant information for making adjustments that meet new demands.   By collecting information about the international market, companies can adjust their strategies to predict and respond to market changes.  Lack of information can be deadly for businesses and even more so for small businesses that lack capital to recover from mistakes. A deficiency in market research and technological capabilities to collect and analyze data can lead to

Using Cognitive Risk Engagement in Marketing Messages

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Marketing is a fundamental function of any business or organization. Without a strong marketing mix and design maximization revenue will be limited. A study by Zhang & Buda (1999) tested the effectiveness of message framing and need for cognition to determine which types of people certain advertisements appeal. Most demographics are based in tangible concepts such as locality and income but the psychological depth of processing advertising has not been fully explored.  All marketing messages are part of a communication. It follows a process where the sender encodes information, uses a medium (i.e.) media, is distorted by environmental noise (internal or external), decoded by the receiver, that elicits a response (i.e. to purchase or not purchase) (Yehsin, 1999). The depth by which person decodes and interprets information is important for determine marketing effectiveness. Those with a need for higher or lower cognitive engagement will naturally have different responses. 

Creating Successful Global Marketing Strategies

Companies moving onto the global scene are conducting business around the world 24/7. Increased trade requires new research to help understand the factors that make the difference.  Research by Akkrawimut, et. al. (2011) of 154 Thailand jewelry exporters helps define what makes some companies successful global marketers. Their strategies can are used to encourage other executives to formulate their own approaches.  Global marketing strategy is important for reaching those customers most likely to purchase products. It can be defined as the marketing activities a company uses to turn global through standardization and integration (Cavusgil, et. al 2004). Focus shifts from domestic to a dynamic global far-reaching approach.  Companies cannot engage in global marketing without some capabilities. Teece et. al. (1997) defines these capabilities as the firm’s ability to integrate, build, and reconfigure competencies (internal and external) to address shifting market needs. The co