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The role of the augmented product component has significantly added differentiation and value to products that compete in highly commoditized and less differentiated markets. These include cell phones accessories, cell phone plans, and the pervasive use of customer service to drive up lifetime customer value and loyalty. Augmented components of products are also the guarantees, accessibility to technical and service support resources, and warranties delivered with the product itself.
This augmented component is typically the most abstract yet is the most critical for any product to achieve lasting differentiation.
Why is a "global brand" the firms most valuable asset?
The strongest asset any firm can have is a global brand because this equates to a global identity, and further, equates to a greater potential of capturing new customers through a higher level of awareness in global markets. A global brand is a critical catalyst for building awareness of the benefits and solutions a company offers, over and above the basic features and functions of their products. Just as important as being a vehicle for creating greater awareness which can lead to greater sales, a global brand establishes a unique identity which is highly differentiated from competitive companies in the same industry. A strong brand, such as Disney, can create its own market for entertainment and associated products. This specific company's ability to tie in both attractions that their theme parks and cinema, DVD and merchandise sales re-define integrated marketing. The same holds true for the Toyota brand and their focus on brining hybrids into the...
A strong global brand then is one of the most powerful tools for initiating sales cycles through greater awareness and is also a very strong differentiator relative to other companies in the same segment.
Briefly discuss the role, problems, and promises of the global services markets.
Global services markets are primarily meant to bring a consistency and responsiveness to the unmet needs they target with their offerings, and these could include both consumer-based as well as business-based processes. For the global services markets of financial services, the need for ensuring a consistency of transaction security globally is a foremost concern today for example. In this regard global services markets seek unmet needs that are pervasive across business and consumer segments, then define services offerings to address those needs. The focus on segmenting unmet needs by the lifestyles of the businesses and consumers being served is a critical concept in the go-to-market strategies for global services markets, in that often services are used by task, process or goal than simply consumed. Services are often driven by the context a business or consumer is in relative to their goals, that's why lifestyle segmentation is more important than simply using demographics to define global services markets.
The problems and promises of global services markets start with a recognition of the fact that for any global services market to be addressed there needs
International Marketing In many ways, domestic marketing and international marketing are similar. They are based on the same fundamental principles of using price, product, place and promotion to craft appeals to customers that will enhance sales. There are certain facets of international marketing, however, that are slightly different. Marketers need to be aware of what these similarities and differences are. In terms of similarities, the fundamental things that a company must pay
International Marketing There are several blunders that have occurred with respect to international marketing. Some come under the category of basic linguistic misunderstanding, but others are more catastrophic in nature, causing offense in addition to costing the company sales. In some cases, the blunder gets back to the home market and does damage there, as was the experience that Nestle had in Africa. This report will outline some of the blunders
International Marketing International growth strategies bring a number of challenges for business organizations. They not only have to analyze the business environment in the new markets, but also formulate effective international marketing strategies which enable them to compete in a competitive and profitable way (Cadle, Paul, & Turner, 2010). International expansion may become a disaster if an organization tries to penetrate the market without a careful analysis of the external environment
International Marketing A situation analysis is termed as a foundation to be used for a marketing plan. A situation analysis normally includes an examination of both the internal and external factors that can affect a business. A situation analysis creates an overview of the organization that acts as a guide to understanding the factors that influence the future of an organization (Lorette, 2010). The paper will look at the situation analysis
International Marketing of the Winter Olympics Properly planned and executed, hosts of the Winter Olympic Games stand to gain a great deal in terms of investments in infrastructure, the multiplier effect of travel and tourism, and the enhanced prestige on the global stage that goes hand in hand with hosting these international games. Improperly administered, though, hosts and corporate sponsors of the Winter Olympic Games are faced with some staggering economic
Technology is helping in the globalization of world economy in more ways than one with the effect that consumers almost everywhere want global products regardless of whether they live in Los Angeles or remote Africa. The forces driving globalization are (i) flow of information (ii) flow of people (iii) Technology: helping economies of scale with cheaper transportation makes global sourcing possible (iv) Globalization is helping attain lower cost as