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BSBMKG606
Manage international
marketing programs
Learner Guide
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BSBMKG606
Manage international marketing programs
Page | 4
Table of Contents
Table of Contents...................................................................................3
Unit of Competency............................................................................................. 7
Performance Criteria............................................................................................ 8
Foundation Skills................................................................................................ 10
Assessment Requirements................................................................................. 11
Housekeeping Items............................................................................................. 12
Objectives............................................................................................................. 12
1. Formulate international marketing objectives....................................13
1.1 Select viable international marketing opportunities and develop objectives
consistent with the organisation's capabilities and resources..............................14
Viability.............................................................................................................. 14
What are your costs going to be?......................................................................14
Conduct a SWOT or a PEST analysis..................................................................15
Developing objectives........................................................................................ 16
Activity 1A......................................................................................................... 17
1.2 Identify measurable international marketing objectives consistent with
organisation's strategic direction, and identify nature and extent of goals for
international market............................................................................................. 18
Measurable international marketing objectives.................................................18
The nature and extent of goals for international market...................................18
Activity 1B......................................................................................................... 19
1.3 Formulate strategic objectives and related key performance indicators by
product, service, country or international grouping, and overall..........................20
Key performance indicators............................................................................... 20
Product.............................................................................................................. 20
Service............................................................................................................... 20
Country or international grouping......................................................................21
Overall............................................................................................................... 21
Activity 1C......................................................................................................... 22
1.4 Develop a risk management strategy to manage contingencies, and ensure
marketing objectives are met in accordance with overall organisational
requirements........................................................................................................ 23
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Unit of Competency
Application
This unit describes the skills and knowledge required to formulate, assess,
strategically manage, evaluate and improve international marketing programs.
It applies to experienced individuals who are required to manage a team and are
responsible for evaluating international marketing opportunities, setting marketing
objectives and determining approach and operational structure for an organisation
marketing internationally.
No licensing, legislative or certification requirements apply to this unit at the time of
publication.
Unit Sector
Business Development Marketing
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Performance Criteria
Element
Elements describe
the essential
outcomes.
Performance Criteria
Performance criteria describe the performance
needed to demonstrate achievement of the
element.
1. Formulate
international
marketing
objectives
1.1
Select viable international marketing
opportunities and develop objectives consistent
with the organisations capabilities and
resources
1.2
Identify measurable international marketing
objectives consistent with organisations
strategic direction, and identify nature and
extent of goals for international market
1.3
Formulate strategic objectives and related
key performance indicators by product, service,
country or international grouping, and overall
1.4
Develop a risk management strategy to
manage contingencies, and ensure marketing
objectives are met in accordance with overall
organisational requirements
2. Determine
international
marketing
approach
2.1
Research international marketing
opportunities and determine global or
customised approaches for promotion of
products or services
2.2
Evaluate options for choice of marketing
approaches
2.3
Select a marketing approach to meet
marketing objectives, international market
conditions and consumer preferences
3. Determine
operational
structures
3.1
Evaluate business culture and consumer
preferences, and identify compatible marketing
structures
3.2
Identify options for operational marketing
structure and rank them for strengths and
weaknesses in servicing international markets
3.3
Choose operational structure that best fits
international market and product or service
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Element
Elements describe
the essential
outcomes.
Performance Criteria
Performance criteria describe the performance
needed to demonstrate achievement of the
element.
4. Manage
international
marketing
performance
5. Evaluate and
improve
international
marketing
performance
5.1
Monitor product, pricing and distribution
policies in relation to market changes, objectives
of marketing plan and organisational
requirements
5.2
Monitor overall marketing progress against
performance targets to ensure activity, quality,
cost, and time requirements are met
5.3
Analyse, review and revise marketing
outcomes and objectives
5.4
Analyse successes and performance gaps as
to cause and effect, and use to improve
international marketing performance
5.5
Analyse changes in market phenomena, and
identify and document their potential impact on
international marketing objectives
5.6
Document review of marketing performance
against key performance indicators in
accordance with organisational requirements
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Foundation Skills
This section describes language, literacy, numeracy and employment skills
incorporated in the performance criteria that are required for competent
performance.
Skill
Performance
Criteria
Description
Reading
Writing
Oral
Communicati
on
4.1
Numeracy
5.2
Interact with
others
4.1, 4.3
1.1-1.3, 2.1-2.3,
3.1-3.3, 4.2-4.4,
5.1-5.5
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account
Recognises potential of new approaches to
enhance work practices and outcomes
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Assessment Requirements
Performance Evidence
Evidence of the ability to:
Document and present
o international marketing objectives
o selected marketing approach
o creation of operational structure
Effectively manage international marketing activities
Monitor and evaluate international marketing performance, and make any
necessary adjustments as required
Formulate suggestions on how marketing activities could be affected in future.
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
Outline relevant Australian and international standards, models policies and
guidelines, including those covering:
o environmental matters
o human rights
o labour relations
o packaging
o risk management
o electronic commerce
Identify and explain key provisions of relevant legislation and codes of practice
affecting aspects of marketing operations
Explain the role of the Organisation for Economic Co-operation and Development
(OECD)
Identify and describe key features of the country or countries being considered
for market entry or penetration, including:
o cross-cultural communication and negotiation styles
o global and country specific economic, social and industry directions, trends,
practices and techniques.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered
demonstrates consistent performance of typical activities experienced in the
business development marketing field of work and include access to:
Office equipment and resources
Organisational strategic and marketing plans, and other relevant documents.
Assessors must satisfy NVR/AQTF assessor requirements.
Links
Companion volumes available from the IBSA website:
http://www.ibsa.org.au/companion_volumes
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Housekeeping Items
Your trainer will inform you of the following:
Where the toilets and fire exits are located, what the emergency
procedures are and where the breakout and refreshment areas are.
Any rules, for example asking that all mobile phones are set to silent
and of any security issues they need to be aware of.
What times the breaks will be held and what the smoking policy is.
That this is an interactive course and you should ask questions.
That to get the most out of this workshop, we must all work together,
listen to each other, explore new ideas, and make mistakes. After all,
thats how we learn.
Ground rules for participation:
o
Smile
Be on time
Objectives
Discover how to formulate international marketing objectives
Know how to determine international marketing approach
Learn how to determine operational structures
Understand how to manage international marketing performance
Comprehend how to evaluate and improve international marketing
performance
Gain the skills and knowledge required for this unit.
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1.2.
1.3.
1.4.
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Effective assessment of these factors will help you determine whether the timing to
market in international territory is right and whether the return on investment (ROI)
is sufficient enough. It may be the case that you should wait until another time
when economic conditions are more favourable or when there has been proven
success by similar companies in the market you are looking to enter.
It may also be the case that you need to wait until a time that your company is in a
more favourable financial position, so as the impact of a failure may be less of a
concern (i.e. you can afford to take risks).
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Developing objectives
Another vital aspect of entering into an
international marketing opportunity is
to have clear objectives.
These give you benchmarks against
which you can measure your success
and help you determine which
operational processes need to be
actioned in order to achieve your goals.
Objectives must be measurable in order to be useful and should be specific as to
what you intend to achieve.
For example, "increase sales by 50 per cent in the next year" is a much more useful
objective than just "increase sales".
SMART objectives
For effective objectives to be created, it is good practice to create them based on
the mnemonic of SMART.
Specific state exactly what you want to achieve
Measurable quantifiable and measurable
Achievable realistic in the current market
Relevant related to organisational objectives
Timed have deadlines for achievement.
Objectives may also relate to the following areas:
Retention of current customers
Purchase increases from current users
Convincing new customers to purchase your
product(s)
Increasing market share
Maintaining brand identity
Creating a new brand identity.
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Activity
1A
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Risk factors.
Consider whether the international market you are entering is emerging or
developed this will affect the state of resources and the demand for your product,
as well as existing competition and the market share you can expect.
Activity 1B
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Product
What type of product are you marketing?
How does it differ to other products on the market?
How is it similar to other products on the market?
How many can realistically look to sell?
Service
What type of service are you marketing?
How does it differ to other services on the market?
How is it similar to other services on the market?
How much can realistically look to sell?
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Overall
What can you expect to turnover in an international territory,
compared to domestic?
How will you measure overall? (i.e. total sales increase)
What is a realistic overall and how will this change due to marketing?
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Activity
1C
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Identification of risks
This involves the following:
Risk analysis
Risk assessment and prioritisation
Risk identification
In order to identify risks you will have to carry out research based on current
marketing ventures by yourself or competitors.
Are your risks controllable or uncontrollable? How much impact will the risks have
(if they become a reality)? What are the benefits of the processes that carry these
risks? Are they worth it?
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Controlling/preventing risks
This involves the following:
Risk maintenance
Risk treatment and controls
Risk evaluation
One you have identified risks, you then need to determine whether they are
predictable, controllable and whether they are internal or external.
External risks that are uncontrollable include:
Government regulations
Bribery
Protectionist arrangements
Bankruptcy of investors
Political unrest
Cost fluctuations
Competitor actions
Operational regulations
Currency fluctuations
Inflation
Taxation
Environmental impacts
Societal impacts.
Internal risks that are controllable include:
Technology advancements
Technology malfunctions
Product design problems
IP and patent rights
Contractual difficulties.
For these controllable risks, you need to make sure that you keep on top of them.
For example, having a legal team review your IP and checking that infringements
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are not made can ensure that you don't encounter more costly complications down
the line.
Monitoring risks
This involves the following:
Risk monitoring
Monitoring risks
Making adjustments to risk treatments and controls.
Monitoring risks is important, so that they are kept under control and that any new
ones that present themselves are dealt with as early as possible. If you ignore the
risks or assume that your current risk control procedures will work infinitely, you are
likely to discover this in an inadequate approach.
Risks, especially those that are uncontrollable, need to be monitored as things like
regulations, taxes and trade agreements change these can majorly affect the
costs and profits of your business.
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Activity 1D
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2.2.
2.3.
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Advantages
Disadvantages
Global
Consistency of message
Strategies can be
implemented quicker
Customised
Inconsistency of message
In your research, you will also need to become familiar with regulations, guidelines,
laws, standards and any other factors that may affect how you operate both in
Australia and internationally.
These include:
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in
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Importing
Fuel quality
Hazardous waste
Heritage
The sea.
Environmental legislation can be accessed (national and
state) at: www.business.gov.au/business-topics/businessplanning/environmentalmanagement/Pages/environmental-legislation.aspx
Human rights
There are national and international conventions on human rights, preventing
torture and cruel/degrading/inhuman punishment or treatment of other humans.
These include:
Universal Declaration of Human Rights
Convention against Torture
International Covenant on Civil and Political Rights
International Convention for the Protection of All Persons from
Enforced Disappearance
Convention on the Rights of Persons with Disabilities
Convention on the Rights of the Child
International Convention on the Protection of the Rights of All Migrant
Workers and Members of Their Families.
How this affects your business will mostly involve the sources of labour you use and
the treatment of employees in foreign territories.
Labour relations
This involves things like minimum pay rates, the minimum age of work, dismissal
and your general treatment of employees.
It is governed and regulated by the Department of Commerce in Australia and more
information can be found at: www.commerce.wa.gov.au/labour-relations
Packaging
There will be certain packaging details that you need to comply with, including:
Packaging style for certain goods
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Labelling
Enclosed documents
Declaration of contents
Sustainable materials
Size and weight of packages.
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Risk management
This may involve and concern things such as:
Workplace health and safety (WHS)
ISO 31000:2009.
Full details on risk management principles for Australia can be found at:
www.finance.gov.au/sites/default/files/COV_216905_Risk_Management_Fact_Sheet_F
A3_23082010_0.pdf
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EEO an overview:
You must create and maintain an environment that is free from
discrimination and harassment
You must not treat employees or potential employees better or worse
on the grounds of:
o
Age
Sex
Race
Marital status
Family status
Disability
Gender
Culture
Etc.
Workplace rights
Industrial rights
Unfair dismissal.
Consumer laws
The Australian Consumer Law (ACL) came into effect on January 1, 2011.
The ACL includes:
A national unfair contract terms law covering standard form consumer
contracts
A national law guaranteeing consumer rights when buying goods and
services
A national product safety law and enforcement system
A national law for unsolicited consumer agreements covering door-todoor sales and telephone sales
Simple national rules for lay-by agreements
New penalties, enforcement powers and consumer redress options.
Source: www.consumerlaw.gov.au
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It applies in all States and Territories and to all Australian businesses, for all
transactions that have occurred since January 1, 2011. The full text is set out in the
Competition and Consumer Act 2010, in Schedule 2.
You will need to also find out consumer law for the countries of your potential
markets.
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Extraterritorial provisions
Section 5 of the Competition and Consumer Act covers application of the Act to
conduct outside of Australia:
(1) Each of the following provisions:
(a) Part IV;
(b) Part XI;
(c) the Australian Consumer Law (other than Part 5 3);
(f) the remaining provisions of this Act (to the extent to which they relate to any of
the provisions covered by paragraph (a), (b) or (c)); extends to the engaging in
conduct outside Australia by:
(g) bodies corporate incorporated or carrying on business within Australia; or
(h) Australian citizens; or
(i) persons ordinarily resident within Australia.
(1A) In addition to the extended operation that section 46A has by virtue of
subsection (1), that section extends to the engaging in conduct outside Australia by:
(a) New Zealand and New Zealand Crown corporations; or
(b) bodies corporate carrying on business within New Zealand; or
(c) persons ordinarily resident within New Zealand.
(2) In addition to the extended operation that sections 47 and 48 have by virtue of
subsection (1), those sections extend to the engaging in conduct outside Australia
by any persons in relation to the supply by those persons of goods or services to
persons within Australia.
(3) Where a claim under section 82, or under section 236 of the Australian
Consumer Law, is made in a proceeding, a person is not entitled to rely at a hearing
in respect of that proceeding on conduct to which a provision of this Act extends by
virtue of subsection (1) or (2) of this section except with the consent in writing of
the Minister.
(4) A person other than the Minister, the Commission or the Director of Public
Prosecutions is not entitled to make an application to the Court for an order under
subsection 87(1) or (1A), or under subsection 237(1) or 238(1) of the Australian
Consumer Law, in a proceeding in respect of conduct to which a provision of this Act
extends by virtue of subsection (1) or (2) of this section except with the consent in
writing of the Minister.
(5) The Minister shall give a consent under subsection (3) or (4) in respect of a
proceeding unless, in the opinion of the Minister:
(a) the law of the country in which the conduct concerned was engaged in required
or specifically authorised the engaging in of the conduct; and
(b) it is not in the national interest that the consent be given.
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Source: www.treasury.gov.au
Labour laws
This governs the relationship between employers, worker, governments and trade
unions.
In Australia, the Fair Work Act 2009 governs labour laws and it covers:
Hiring and firing of employees
Discrimination against applicants
Offers of employment
Employment contracts
Benefits/entitlements
Wages
Superannuation
Long service leave
Taxation
Terms and conditions
Workplace health and safety (WHS)
Records
Notice requirements
Redundancy
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Unfair dismissal
Termination payments
Litigation.
In addition to this, there are ten national employment standards:
Hours of work
Request for flexible working arrangements
Annual leave
Personal/carer's leave
Compassionate leave
Community service leave
Public holidays
Unpaid parental leave
Notice of termination and redundancy pay
Fair Work Information Statement.
You will also need to know the labour laws of the countries for your potential
markets, so as to know how you will deal with employees in the countries you are
trading in.
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Privacy laws
You need to be able to protect customer data and respect the relationships you
have if you fail to do this, they can likely move to your competitors.
Privacy is governed by the Privacy Act 1988 (Privacy Act), which regulates the
handling of personal information.
As of March 2014, the following privacy legislation amendments came into
effect:
Privacy Amendment (Enhancing Privacy Protection) Act 2012
Privacy Regulation 2013
Credit Reporting Privacy Code.
You can read more about the privacy law reform at:
www.oaic.gov.au/privacy/privacy-act/privacy-law-reform
There are 13 Australian Privacy Principles that apply to the handling of
personal information, contained in Schedule 1 of the Privacy Act:
1. Open and transparent management of personal information
2. Anonymity and pseudonymity
3. Collection of solicited personal information
4. Dealing with unsolicited personal information
5. Notification of the collection of personal
information
6. Use or disclosure of personal information
7. Direct marketing
8. Cross-border disclosure of personal information
9. Adoption, use or disclosure of government related identifiers
10.Quality of personal information
11.Security of personal information
12.Access to personal information
13.Correction of personal information.
Full information on the Privacy Act and its terms can be found at
www.oaic.gov.au/privacy/privacy-act/the-privacy-act
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Taxation laws
You need to know the taxation laws of Australia and countries of your potential
markets, so as to know what charges may be imposed on imports and exports.
These may include:
Fuel taxes
Payroll taxes
Goods and services taxes
Capital gains tax
Customs duties
Corporate taxes.
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Activity
2A
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behaviouristic
demographic
end use
geographic
operational
psychographic.
Advantages
Disadvantages
Global
Consistency of message
Strategies can be
implemented quicker
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Inconsistency of message
Cheap to implement
Can be integrated into
overall marketing strategy
Increases the range of
people who view your
product
Product or
promotion
standardisation
Segmentation by
criteria
Requires constant
investment
Focus may be split across
different adaptations
Time consuming
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Activity
2B
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the
SWOT analysis
Strengths the advantages you have over the competition for your
opportunity.
Weaknesses the internal disadvantages you have compared to your
competitors.
Opportunities current external trends that are waiting to be
utilised/taken advantage of.
Threats external factors which may cause a problem and negatively
affect your business.
PEST analysis
Political laws, global issues, legislation and regulations which may
affect your business presently or in the future.
Economic taxes, interest rates, inflation, the stock markets and
consumer confidence all need to be considered.
Social the changes in lifestyle and buying trends, media, major
events, ethics, advertising and publicity.
Technological innovations, technology access, licensing and patents,
manufacturing, research funding, global communications.
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Activity 2C
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3.2.
3.3.
Identify options for operational marketing structure and rank them for
strengths and weaknesses in servicing international markets
Choose operational structure that best fits international market and product
or service
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Wealthy forties they have slightly higher incomes but the same
backgrounds as the frugal forties. Therefore, as well as saving for their
families, they have disposable income to spend on quality products.
Over the next decade, they will have less childcare responsibilities and
even more disposable income to spend.
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However, you can see that the vast majority of the markets in China are after
quality goods, so if your product/service is cheap and you try to market this as a
selling point, you are likely to have a limited consumer base.
It is important to market, irrespective of the other qualities your product/service
may have, the qualities that your consumers value the most, as these will make
your efforts more successful. So, for China, if your product is actually cheap but the
quality of the materials and construction is superior to other similar products,
market on the base of quality rather than price.
Activity 3A
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Ranking options
Once you have identified the available operational
marketing structures, the next step is to rank them
for of strengths and weaknesses, regarding how they
service international markets.
Strengths and weaknesses may include:
Accessibility
Distribution channels
Financial factors
Manufacturing capability
Market capability
Potential profit factors
Research capability
Resource commitment
Risk control.
The following table outlines examples of the strengths and weaknesses of
the operational marketing structures previously discussed:
Operational marketing
structure
Strengths
Weaknesses
Export operation
Harder to monitor
quality
Joint venture
Pooling of resources
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Shared
opinions/expertise
Licensing
Don't need to
manufacture and
create original patents
Easy money for no
extra work (if
supplying them)
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Multi-national organisation
Cheap to operate
Highly competitive
Need to train in
software applications
used in conducting
international electronic
commerce
Overseas branch
Allows monitoring of
international market
more closely
Costs to set up
Improves customer
service potential
Strategic alliance
Greater chance of
success
Shared
knowledge/experience
Possible quicker
achievement of
objectives
Subsidiary company
Decisions can be
overruled by parent
company
You must use the strengths and weaknesses analysis to then rank the structures in
terms of viability, so you have a clear decision on which ones to pursue for your
product. You must have a clear goal in terms of what you want to achieve when
determining rankings and weighting of criteria.
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Activity
3B
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Activity 3C
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4.2.
4.3.
4.4.
4.5.
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Activity
4A
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1. Plant
They are creative and good at problem-solving they help stimulate fresh directions
for the team, when they may be stuck or starting anew.
2. Monitor evaluator
They provide the voice of logic their judgements are impartial and they ensure
that decisions are made for the greater good of the team, without bias.
3. Co-ordinator
These people have a strong focus on the team's objectives, assigning other team
members work according to their strengths and the team's needs.
4. Resource investigator
They research competing teams and ensure that the rest of the team's ideas and
work is applicable to the outside world.
5. Implementers
These people plan strategy and make sure the team is working as efficiently as
possible.
6. Completer finishers
Mostly used towards the end of a task, these people polish off the work and ensure
it meets all the required standards. They have high attention to detail and provide
scrutiny for other people's work.
7. Teamworkers
They help the cohesiveness of the team and make it "gel" they are versatile and
will chip in with the required workload to make sure everything gets done.
8. Shapers
These people challenge the others in the team to move
forward they provide the drive and the motivation to
help the team achieve its potential.
9. Specialist
This is someone with specialist skills and knowledge in a
key area it is highly valuable to have an expert in a
particular field.
Balance
The key to a successful team, according to Belbin, is that every team has all of the
above members; however, they can't be too few or too many in number, or else it
will have adverse consequences. For instance, without plants, you may struggle to
generate new ideas or directions; with too many plants, you face spending too
much time coming up with ideas and many less effective ideas are allowed
discussion time. Without shapers, you will take longer to complete tasks and have
no clear direction making the finished product average, at best; with too many of
them, there is an internal power struggle and people argue over direction.
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Roles in marketing
These may include:
Role
Responsibilities
Branding/advertising
Field marketing
Market intelligence
Product management
Product marketing
Telemarketing
Channel marketing
Corporate
communications
Strategy
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Activity
4B
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design
quality
range
safety features
technical features
Promotion.
Communication should be open and honest if information is withheld from certain
personnel, it can cause conflict and prevent them from performing their roles
effectively.
So, if we take examples from the marketing mix above, we can see that those
responsible for pricing and promotion must work together as the team responsible
for promotions need to know how much they can lower the price without negatively
affecting profits.
Those responsible for distribution must be able to communicate with those in
promotions (if distribution needs to be increased to certain locations to cope with
demand) and personnel responsible for product or service variables (to determine if
there are things like breakages and fragility of products that need to be considered
in distribution).
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As a summary:
Canadians, compared to Americans, tend to be more low-key and inclined to seek
harmony, though they are similarly direct.
English tend to avoid confrontation in an understated, mannered, and humorous
style that can be powerful or inefficient.
Germans rely on logic but "tend to amass more evidence and labour their points
more than either the British or the French."
Spanish and Italians "regard their languages as instruments of eloquence and they
will go up and down the scale at will, pulling out every stop if need be to achieve
greater expressiveness."
The Nordic countries often have entrenched opinions that they have formulated "in
the long dark nights," though they are reasonable conversationalists. Swedes often
have the most wide-ranging discussions, Finns tend to value concision, and most
Norwegians fall somewhere in between.
Swiss tend to be straightforward and unaggressive negotiators, who obtain
concessions by expressing confidence in the quality and value of their goods and
services.
Hungarians value eloquence over logic and are unafraid to talk over each other.
Bulgarians may take a circuitous approach to negotiations before seeking a
mutually beneficial resolution, which will often be screwed up by bureaucracy.
Poles often have a communication style that is "enigmatic, ranging from a matterof-fact pragmatic style to a wordy, sentimental, romantic approach to any given
subject."
The Dutch are focused on facts and figures but "are also great talkers and rarely
make final decisions without a long 'Dutch' debate, sometimes approaching the
danger zone of over-analysis."
Chinese tend to be more direct than the Japanese and some other East Asians;
however, meetings are principally for information gathering, with the real decisions
made elsewhere. People from Hong Kong negotiate much more briskly to achieve
quick results.
Indian English "excels in ambiguity and such things as truth and appearances are
often subject to negotiation."
Australians tend to have a loose and frank conversational style.
Singaporeans generally take time to build a relationship, after which they can be
shrewd negotiators.
Koreans tend to be energetic conversationalists who seek to close deals quickly,
occasionally stretching the truth.
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Activity 4C
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Activity
4D
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Integrated marketing
This is a holistic approach to communication in marketing, where it is consistent
both online and offline. This means that the message is clear and ensures that
spending is optimised towards the approach that is most effective.
So, for example, rather than focusing all of your marketing effort on, say a TV
advertisement, you could diversify into creating a billboard advertisement, a
website linked to the advert, a blog with search engine optimisation. These other
mediums could be used as a continuation of the original TV advert, rather than
being replicas of it. This encourages the audience to seek out more information on
the product you are marketing and become active in the campaign, rather than
passive observers. This will, in turn, increase your overall visibility to the audience
and help them better understand the message you are trying to convey.
Therefore, when managing the marketing process, you will need to determine which
forms of media you will utilise and how they will all inter-relate to one another.
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You can also strategise by directing where sales and promotions take place. For
instance, you will place your merchandising displays in the most visible places to
your audience, where they are most likely to trigger a purchase of your
product/service.
Point-of-sale displays, increased shelf space and bolder displays can influence
customers to buy your product over your competitors'.
You can send marketing teams to stores/locations where your product/service is
sold, to provide demonstrations and expert advice to potential customers and boost
sales.
You can also target the trade itself and offer them discounts and benefits to
stocking and selling your products/services this will likely increase their efforts to
promote them to customers.
To decide which sales and promotions strategies to use, you need to have clear
objectives to determine which will best achieve them.
You need to think about the long-term effects of sales promotions, for example,
while reducing prices may attract more sales, it also reduces the profit margin; you
need to be sure that the overall profit increases by attracting sufficient new
customers during this period.
This is why sales promotions are usually more effective for new products and more
risky for existing ones.
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Industry trends
Cost of production
Profit margins
Selling strategies and trends
Past trends
Upcoming products.
What do you know about your industry and the products and services you are
marketing?
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Activity 4E
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5.2.
5.3.
5.4.
Analyse successes and performance gaps as to cause and effect, and use to
improve
international marketing performance
5.5.
5.6.
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5.1
Monitor
product, pricing
and distribution
policies in
relation to
market
changes,
objectives of
marketing plan
and
organisational
requirements
Monitor product,
distribution,
pricing and
marketing
communication
policies
You must monitor your organisation's policies with regard to products, distribution,
pricing and marketing communication, in order to ensure they comply with market
changes, marketing plan objectives and organisational requirements.
If you fail to do this, it can result in your strategies becoming out-of-date with trends
and objectives, making them less effective than if they are adapted and regulated
according to set standards.
Monitoring processes may include:
Comparisons against competitors
Meetings to discuss product, distribution, pricing and marketing
communication
Email contact
Telephone contact
Regular performance analysis of marketing strategy.
So, if the market changes, you will have to review your product, distribution, pricing
and marketing communication policies to see if they still satisfy customer demand
and are sufficient for their intended purpose.
What are your organisational requirements for your marketing strategy? How do the
product, distribution, pricing and marketing communication policies of your
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organisation comply with these? How do they relate to your marketing plan
objectives? How would a market change affect them?
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Activity
5A
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Marketing metrics
These are used to measure the success of marketing against performance targets,
to ensure that they are being met.
There are four main types of metrics used,
which are:
1. Consumption
2. Sharing
3. Lead generation
4. Sales.
Consumption
This basically is used to measure how many people have consumed the content you
put out. It can be measured in terms of viewing figures, purchases, downloads,
traffic increases etc.
Sharing
This refers to how your content is shared with other consumers. In the modern day
and age, this is measured by tweets (Twitter), likes (Facebook), Google shares,
LinkedIn shares etc.
All of these sharing metric components can usually be measured under one
analytics program, such as PostRank or Google Analytics.
Lead generation
This measures how many consumers of marketing media will actually investigate
your product/service further. This is often measured by things like requiring
consumers to register to view your website's content, or to join email lists, or by
cookies on websites.
In other words, this helps you determine the cost-benefit of your marketing
strategies.
Sales
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This involves how many content consumers will turn into actual customers this is
very important in measuring the success of your marketing strategy.
You will need to link content consumption to profitability for each customer i.e. what
media of yours did customers consume before making a purchases, how long can
you expect their custom and how much money can you make from them?
You will need to have a customer and prospect database to measure these metrics
and ensure that they are synced with each other, to allow allocation of profitability
to each piece of media consumed by the customer.
Using these metrics, you can then analyse whether your marketing strategy is
effective, in terms of activity, quality, cost, and time requirements. It will allow you
to identify which strategies are yielding the most profit, so you can reallocate your
resources to these and not waste investment on outputs that have a low costbenefit ratio.
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Activity
5B
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Activity
5C
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Activity
5D
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Activity
5E
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Activity 5F
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Nearly there...
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Congratulations!
You have now finished the unit 'Manage international marketing programs'.
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References
These suggested references are for further reading and do not necessarily
represent the contents of this Learner Guide.