Unit 20 How marketing functions in the society

International marketing

International marketing involves recognising that people all over the world have different needs. Companies like Gillette, Coca-Cola, BIC, and Cadbury Schweppes have brands that are recognised across the globe. While many of the products that these businesses sell are targeted at a global audience using a consistent marketing mix, it is also necessary to understand regional differences, hence the importance of international marketing. Organisations must accept that differences in values, customs, languages and currencies will mean that some products will only suit certain countries and that as well as there being global markets e.g. for BIC and Gillette razors, and for Coca-Cola drinks, there are important regional differences - for example advertising in China and India need to focus on local languages. Just as the marketing environment has to be assessed at home, the overseas potential of markets has to be carefully scrutinised. Finding relevant information takes longer because of the unfamiliarity of some locations. The potential market size, degree and type of competition, price, promotional differences, product differences as well as barriers to trade have to be analysed alongside the cost-effectiveness of various types of transport. The organisation then has to assess the scale of the investment and consider both short- and long-term targets for an adequate return. Before becoming involved in exporting, an organisation must find the answers to two questions:

1. Is there a market for the product? 2. How far will it need to be adapted for overseas markets?

The product must possess characteristics that make it acceptable for the market - these may be features like size, shape, design, performance and even colour. For example, red is a popular colour in Chinese-speaking areas. Organisations also have to consider different languages, customs and health and safety regulations.

Table of contents

Unit 1 Financial system	5
Unit 2 Exchanges. Money markets	14
Unit 3 Banking	24
Unit 4 Types of banks	31
Unit 5 Functions of banks	37
Unit 6 Ukrainian banking system	44
Unit 7 Bank of England. Federal Reserve.	51
Unit 8 Management and managers	58
Unit 9 Management strategies. SWOT analysis.	65
Unit 10 Management styles	73
Unit 11 Making decisions	77
Unit 12 Leadership	85
Unit 13 Work and motivation	93
Unit 14 Cross-cultural management	100
Unit 15 Marketing. Market research	107
Unit16 Marketing mix	117
Unit 17 Branding	127
Unit 18 Maslow’s hierarchy of needs	139
Unit 19 Advertizing	152
Unit 20 How marketing functions in the society	164
Appendix 1 Summary, Annotation	172
Appendix 2 Glossary	175
Appendix 3 Text bank
Table of contents	192
References	193