IB Economics The Level of Overall Economic Activity Chapter 13.
IB Chapter 19
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Transcript of IB Chapter 19
![Page 1: IB Chapter 19](https://reader036.fdocuments.us/reader036/viewer/2022062418/554e5d72b4c905b2178b5124/html5/thumbnails/1.jpg)
LESSONLESSON 19-119-1GOALSGOALS
Diagram the Diagram the elements of the elements of the communication communication process.process.
Describe the Describe the elements of the elements of the promotional mix.promotional mix.
GLOBAL COMMUNICATIONS AND PROMOTIONS
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The Communication ProcessBusiness need to communicate to buyers:
Inform and Persuade with promotions.
Communication Involves: Sender Audience Encoding Medium Decoding Noise Feedback
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The Communication Process
Noise
Source Encoding Message Medium Decoding Audience
Feedback
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Question????
What are some factors that reduce the effectiveness of communication?
What are some examples of ways customers give feedback?
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International Promotional Activities
Communication is the basis for promotional activities.
Promotion involves marketing efforts that inform, remind, and persuade customers.
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International Promotional Activities
Four main promotional activitiesAdvertisingPersonal sellingPublicitySales promotion
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Advertising
Any form of paid, non-personal sales communication.
Mass Selling
Sale, Sale
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Personal Selling
Direct communication between sellers and potential customers.
Face-to-face, over telephone, emails.
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Publicity
Any form of unpaid promotion.Newspapers or television coverage.
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Sales Promotion
All of the promotional activities other than advertising, personal selling, and publicity.
Coupons, contests, free samples, in-store displays.
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International Promotional Mix
Promotional Mix is the combination of advertising, personal selling, publicity and sales promotion used by an organization.
Consider culture, politics, laws, and economic environments to know what is best for each business/products.
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Pull vs Push Promotions
Are marketers concerned with end users or with distributors??
Pull promotions are directed at end users.TV commercialsAdvertisements in magazinesCoupons
Push promotions market to distribution channel.Get wholesalers and retailers to “push” a product to
their customers.Discounts to retailers In-store displaysContests for salespeople.
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LESSONLESSON19-219-2GOALSGOALS
Explain the activities Explain the activities involved in planning involved in planning advertising for global advertising for global markets.markets.
Explain the advantages Explain the advantages of using an advertising of using an advertising agency.agency.
PLANNING GLOBAL ADVERTISING
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Advertising Planning Process
Analyze target marketAnalyze target market
Create advertising message
Create advertising message
Select mediaSelect mediaExecute and evaluate
Execute and evaluate
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Major Advertising Media
Newspaper advertisingTelevision advertisingRadio advertisingMagazine advertisingDirect mailOutdoor advertisingInternet advertising
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LESSONLESSON19-319-3GOALSGOALS
Summarize the personal Summarize the personal selling process used in selling process used in international business.international business.
Discuss the use of public Discuss the use of public relations and sales relations and sales promotion by promotion by multinational companies.multinational companies.
GLOBAL SELLING AND SALES PROMOTIONS
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Personal Selling
Recall, personal selling is direct spoken communication between sellers and potential customers.
Personal Selling Activities –
Include –
Telemarketing involves the selling of products during telephone calls to customers.
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The Personal Selling Process
Step 5: Provide customer service
Step 4: Close the sale
Step 3: Obtain feedback
Step 2: Prepare a presentation
Step 1: Identify customers
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The personal selling process
Identify CustomersComputer DatabasesCurrent Customer ListsTelephone CallsReferrals from employeesMail-in coupons
Prospecting
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Prepare a Presentation
Creative and Effective product description and demonstration.
Highlighting products main features, positive traits, and marketplace acceptance.
Specific information to address needs and wants of customers.
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Obtain Feedback
Always look for objections and oppositions to the product.
Awareness allows salesperson to provide additional information to overcome any negative opinions.
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Close the Sale
Salesperson asks the customer to commit to the purchase.Is this the style you were thinking of buying?If we can deliver it in three days, would you be
interested?Would you like the item in blue?If we included the extended warranty, would
that meet your needs?
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Provide Customer Service
Customer needs continue with operating instructions, repairs, and additional products.
FACT: Keeping existing customers is less expensive than finding new ones.
Relationship Marketing – creates long-term, mutually beneficial buyer-seller relationship.
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Personal Selling in International Markets
Expatriates are employees living and working in a country other than their home nation. Have knowledge but not culture.
Local nationals are employees based in their home country. Product knowledge must be taught.
Third-country nationals are citizens of one country employed by a company from another country who worked in a third county. Speak several languages and are culturally sensitive.
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Other International Promotional Activities
Public relationsFavorable public image
Global sales promotionsCouponsPremiumsContests and sweepstakesPoint-of-purchase promotionsSpecialty advertising
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Bonus Time
Bring in an example of the following:CouponsPremiumsContests and SweepstakesPoint of Purchase PromotionsSpecialty Advertising