Intl Markt Product Launch Final

8/8/2019 Intl Markt Product Launch Final

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A Brief Historical BackgroundA Brief Historical Backg

round

Globalization is sourcing and supplying from and to the board less

world. Few words in the language of business have been more overused and perhaps misused in recent times than globalization. Much has beenwritten and said on the topic, but it is a phenomenon that is rather simplydescribed: Globalization is the process by which an activity or undertakingbecomes worldwide in scope. This chapter describes the consequencesand the determinants of the process by which firms activities becomeworldwide in scope why a firm becomes an MNE. We shall also attempt tounderstand how a firm pursues its entry into markets abroad.

Globalizations via the development and spread of the MNE throughdirect foreign investment are a more recent phenomenon. The earliestMNEs were mainly European firms, setting up manufacturing facilities incolonies to extract primary resources for conversation to finish goods back

home. However, by the mid-nineteenth century, many US firms began toglobalized for example Singer Sewing Machines, which set-up a jointventure in France in 1855, Westinghouse, which set up a plant in Paris in1873, and Kodak, which set up a plant in London in 1889.The expansion ofUS firms was further after World War IIII when both European and Japaneseindustrial infrastructure was largely destroyed by the war. Resources


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transferred for rebuilding these economies through programs such as theMartial Plan gave US firms the ability to consolidate their position evenmore firmly.

IntroductionIntroductionInternational Marketing is a very broad field and it encompasses manyInternational Marketing is a very broad field and it encompasses many

different types of professionals working at vastly different types ofdifferent types of professionals working at vastly different types ofoccupations. Some of the International Marketing executives work in theoccupations. Some of the International Marketing executives work in the

world of business, some others in finance, and others in advertising, andworld of business, some others in finance, and others in advertising, andthe rest in human resources.the rest in human resources.

It is the International Marketing executives who research businessIt is the International Marketing executives who research businessopportunities in foreign markets and make contacts with the appropriateopportunities in foreign markets and make contacts with the appropriatefigures to get the business deals started. It is the International Marketingfigures to get the business deals started. It is the International Marketingexecutives who find sources of raw materials and goods in distantexecutives who find sources of raw materials and goods in distant

countries and prepare all the import and export documentation needed forcountries and prepare all the import and export documentation needed forshipping and transport. Most of the International Marketing executives areshipping and transport. Most of the International Marketing executives areaware of cultural nuances that might effect how a company goes aboutaware of cultural nuances that might effect how a company goes aboutdoing its business in a foreign land.doing its business in a foreign land.


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International marketing usually help companies define and transmit aInternational marketing usually help companies define and transmit aconsistent message about a product across all markets. They also takeconsistent message about a product across all markets. They also takecare to retool advertising campaigns and brand names to fit the tastes ofcare to retool advertising campaigns and brand names to fit the tastes ofeach culture. As the world continues to shrink, the role of those involved ineach culture. As the world continues to shrink, the role of those involved in

international marketing and business will only continue to becomeinternational marketing and business will only continue to becomeincreasingly important. This is especially the case in a country like India,increasingly important. This is especially the case in a country like India,which had only just started exploring the international markets throughwhich had only just started exploring the international markets throughexports. With the oncoming dismantling of the quota system in the retailexports. With the oncoming dismantling of the quota system in the retailsector, the demand for International Marketing executives in India is onlysector, the demand for International Marketing executives in India is onlyset to rise.set to rise.

Meaning and Definition ofMeaning

and Definition ofInternational MarketingInternational Marketing

International marketing is a part of the total marketing process.International marketing is a part of the total marketing process.Marketing may be understood as the human activity directed at satisfyingMarketing may be understood as the human activity directed at satisfying

needs and wants through exchange process. Marketing activities carriedneeds and wants through exchange process. Marketing activities carriedout by marketer in more than one nation may be termed as internationalout by marketer in more than one nation may be termed as international

marketing. According tomarketing. According to Hess and Cateora it is The performance ofbusiness activities that direct the flow of goods and services to consumersor uses in more than one nation.


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Importance of internationalImp

ortance of international

marketingmarketing

1.1. To meets the imports of industrial needs.To meets the imports of industrial needs.2.2. Debt servicing.Debt servicing.3.3. Rapid economic growth.Rapid economic growth.4.4. Profitable use of natural resources.Profitable use of natural resources.5.5. Increase in employment opportunities.Increase in employment opportunities.

6.6. Facing competition successfully.Facing competition successfully.7.7. Role of exports in national income.Role of exports in national income.8.8. Increase in standard of living.Increase in standard of living.

Benefits of International MarketingBenefits of International Marketing

.

1. Survival: -Survival: -Most countries are not as fortunate as the US in terms ofMost countries are not as fortunate as the US in terms ofmarket size, resources and opportunities; they must trade withmarket size, resources and opportunities; they must trade withothers to survive. International competition may not be a matter ofothers to survive. International competition may not be a matter ofchoice when survival is at state.choice when survival is at state.


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2. Growth of Overseas Market: -Growth of Overseas Market: - Developing countries inspite ofeconomic and marketing problems are excellent markets. LatinAmerica and Asia // Pacific are experiencing the strongest economicgrowth. The world market is more than four times larger than the US

market.

3. Sales and Profits: -Sales and Profits: - Foreign markets constitute a large share of totalbusiness of many firms that have wisely cultivated markets abroad.Many large companies have done very well because of their overseascustomers.

4.

Diversification: -.Diversification: -. One way to diversify a companys risk is to considerforeign markets as a solution for variable demand. Such marketseven out fluctuations by providing outlets for access productioncapacity.

5. Inflation and price moderation:Inflation and price moderation: - the benefits of exports are readilyself evident. Imports can also be highly beneficial to a countrybecause they constitute reserve capacity for the local economy.Without imports, there is no incentive for domestic firms to moderatetheir prices and excessive profits for local firms. In Europe whenprices of orange juice were driven upward consumers shifted toapple juice and other fruit drinks.


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Exploit competitive

Advantage through

Entry abroad

Produce AbroadProduct at

Home and Export

Maintain controlover assets abroad

Licensing or

Management

Contact

Majority or wholly

owned affiliateJoint venture

Acquire or mergeBuild from scratch


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Why the firm should go abroad?

Why the firm should go abroad?

Firms go abroad for both organizational and Environmental reasons.

There is a set of factors both internal to the firm and industry, as well asexternal to the firm, that makes it necessary to consider globalizing.

The main internal organizational and industry reasons for going abroadare those of:

1.1. Exploiting worldwide market imperfections (including matching aExploiting worldwide market imperfections (including matching a

rivals move).rivals move).

2.2. Exploiting the opportunities that arise along the life cycle of aExploiting the opportunities that arise along the life cycle of afirms product.firms product.

The main environmental or external reasons for going abroadThe main environmental or external reasons for going abroadare: -are: -

1. Responding to the macro economic imperatives forResp

onding to the macro economic imperatives forglobalization: -

globalization: - Artistics have kept an aim to enter into a globalArtistics have kept an aim to enter into a globalmarket. Globalization has been an important objective to be achievedmarket. Globalization has been an important objective to be achievedby the Artistics. It aims at developing modern economy of the country.by the Artistics. It aims at developing modern economy of the country.


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2. Exploiting the competitive advantage of nations: -Exploiting the competitive advantage of nations: - competitioncompetitionhas been rapidly increasing in todays economy. To face thathas been rapidly increasing in todays economy. To face thatcompetition has really become very difficult today. Artistics exploitscompetition has really become very difficult today. Artistics exploitsthe competitive advantage of the nation.the competitive advantage of the nation.

We have discussed why firms decide to globalize and what factorsWe have discussed why firms decide to globalize and what factors

propel them to go abroad; however the issue ofpropel them to go abroad; however the issue ofHHow they globalize they globalize that is, the mode of entry abroad once they decide to globalize stillthat is, the mode of entry abroad once they decide to globalize stillremains to be addressed. In any decision to go abroad, the choice typicallyremains to be addressed. In any decision to go abroad, the choice typicallycomes dcomes down to one of three approaches:

1.1. Produce at home and export abroad.Produce at home and export abroad.

2.2. Enter into a contractual agreement, such as licensing aEnter into a contractual agreement, such as licensing atechnology or enter into a management contract, without actuallytechnology or enter into a management contract, without actuallyowing significant amount of assets abroad.owing significant amount of assets abroad.

3.3. Own and control assets abroad, by having a joint venture, orOwn and control assets abroad, by having a joint venture, orthrough majority ownership (where the entry mode may involvethrough majority ownership (where the entry mode may involveeither building de novo, or acquiring a foreign asset.)either building de novo, or acquiring a foreign asset.)


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The third choice is also sometimes referred to as:The third choice is also sometimes referred to as: Direct ForeignInvestment (DFI). These choices are summarized in the above figure.There are two sets of ideas that provide guidelines for firms in makingtheir foreign entry decision:

1. The theory of internalization based on the economics of transactionscosts of activities undertaken by the firm.

2. The impact of the two environmental variables that is unique to theMNE, MA and MV.

Why artistic go abroad?Why artistic go abroad?

The Artistics have decided to go abroad because of good responseThe Artistics have decided to go abroad because of good responsefrom India. 30% of the customers of Artistics are those who come on visitfrom India. 30% of the customers of Artistics are those who come on visit to India, who are considered as foreigners. Taking into consideration theto India, who are considered as foreigners. Taking into consideration thegood response from foreign customers, Artistics have decided to launch angood response from foreign customers, Artistics have decided to launch an

art gallery abroad.art gallery abroad.

Factors considered launching an art gallery abroad?Factors considered launching an art gallery abroad?

1. Cultural factors: -Cultural factors: - India has a very rich culture which needs noIndia has a very rich culture which needs nointroduction. Indian culture is very well known by most of theintroduction. Indian culture is very well known by most of the


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foreigners. Every 7th person of the world is an Indian. He knows veryforeigners. Every 7th person of the world is an Indian. He knows verywell what Indian culture is?well what Indian culture is?

2. Standard of living: -Standard of living: -TThough the standard of living of India is lower as

compared to America, Great Britain and Australia then to it has a greatresponse in India. Assuming the same response in those countriesArtistics have decided to go abroad.

3. Less government interferenceLess government interference: - Due to less governmentinterference, procedure formalities for export of paintings abroad areless and can be completed in short span of time.

Overview of Indian ArtOverview of Indian ArtContemporary Indian Paint ingContemporary Indian Paint ing

A glance over the terrain traced by modern and contemporary IndianA glance over the terrain traced by modern and contemporary Indianpainting shows a diverse range of artistic responses to reality. While in thepainting shows a diverse range of artistic responses to reality. While in theearly years of the past century Indian painters seem to concernearly years of the past century Indian painters seem to concernthemselves primarily with the societal.themselves primarily with the societal.


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Throughout these phases, one may discern three emphases commonThroughout these phases, one may discern three emphases commonto artistic practice in most countries with a colonial past: an interrogationto artistic practice in most countries with a colonial past: an interrogationof Western influences on artistic expression, the overpowering need toof Western influences on artistic expression, the overpowering need toestablish a distinct identity and idiom for Indian art, and an engagementestablish a distinct identity and idiom for Indian art, and an engagement

with the role and function of the artist in a country like India.with the role and function of the artist in a country like India.

The response of the Progressive Artists Group in Bombay, too, seemsThe response of the Progressive Artists Group in Bombay, too, seemsapolitical, the fact of their coming together in the year of Independenceapolitical, the fact of their coming together in the year of Independencebeing purely coincidental. What these artists were more exercised aboutbeing purely coincidental. What these artists were more exercised aboutwas the fact that art as practised in India till then had to change; a totalwas the fact that art as practised in India till then had to change; a totalbreak with the past and its stultifying constraints, both cultural and artistic,break with the past and its stultifying constraints, both cultural and artistic,

was called for. F. N. Souza, S. H. Raza, K. H. Ara, M.F. Husain, S. H. Gadewas called for. F. N. Souza, S. H. Raza, K. H. Ara, M.F. Husain, S. H. Gade and S. Bakre were determined to fashion an art that was 'entirely Indianand S. Bakre were determined to fashion an art that was 'entirely Indianbut also modern'. Their work does contain the latter two elements in amplebut also modern'. Their work does contain the latter two elements in ampledegree, though the modernism relies a great deal on Parisian abstractdegree, though the modernism relies a great deal on Parisian abstractExpressionism and post-Impressionism.Expressionism and post-Impressionism.

The decade also saw many more women artists come forward on theThe decade also saw many more women artists come forward on theartistic scene, the majority of them delineating a point of view thatartistic scene, the majority of them delineating a point of view thatcombined the feminist and the subjective. As may be expected, Nalinicombined the feminist and the subjective. As may be expected, NaliniMalani, Arpita Singh, Madhvi Parekh, Ira Roy, Veena Bhargava, SuruchiMalani, Arpita Singh, Madhvi Parekh, Ira Roy, Veena Bhargava, SuruchiChand, Navjot and others address the central issues of subjectivity andChand, Navjot and others address the central issues of subjectivity andvictimhood, but the introspective and the apparently apolitical also find avictimhood, but the introspective and the apparently apolitical also find a


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voice in their work. The obsessions of their male counterparts (modernism,voice in their work. The obsessions of their male counterparts (modernism,indigenism etc.) seem relatively peripheral concerns.indigenism etc.) seem relatively peripheral concerns.

This trend would, of course, be a prefiguration of the tone of artisticThis trend would, of course, be a prefiguration of the tone of artistic

practice in the eighties and nineties. During these two decades, thepractice in the eighties and nineties. During these two decades, thepreoccupations of the earlier part of the century get considerablypreoccupations of the earlier part of the century get considerablyattenuated and, with some younger artists, become a non-issue. The hardattenuated and, with some younger artists, become a non-issue. The hardfact of the globalised economy makes a post-modernised utterance seemfact of the globalised economy makes a post-modernised utterance seemde rigeur now. Thus, in keeping with the tenor of the times, installation art,de rigeur now. Thus, in keeping with the tenor of the times, installation art,mixed media, and digital representations insinuate their way into publicmixed media, and digital representations insinuate their way into publicawareness.awareness.

But alongside these highly personalized and contemporary gestures,But alongside these highly personalized and contemporary gestures,the thematic concerns of the past still continue to haunt the artist: thethe thematic concerns of the past still continue to haunt the artist: thesearch for that elusive Indian voice, the anxiety over the looming shoulder,search for that elusive Indian voice, the anxiety over the looming shoulder,and the guilt over an activity which seems like so much fiddling while theand the guilt over an activity which seems like so much fiddling while thecountry burns. In short, through the obsessions of its painters, Indian artcountry burns. In short, through the obsessions of its painters, Indian artseems to yield a picture of a vital and vigorous creative practice, which, atseems to yield a picture of a vital and vigorous creative practice, which, attimes, also seems a bit bewildering and confusing. But let the poet phrasetimes, also seems a bit bewildering and confusing. But let the poet phrasethe matter.the matter.

About ArtisticsAbout Artistics


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Artistics has been acclaimed as one of the most comprehensiveand definitive sources for modern and contemporary Indian art today.Artistics provides a platform for talented artists to project their wide

collection of contemporary art in variety of styles and media. Artistics isproud to have a long list of clients in the Corporate Sector, Art Lovers andcollectors in India and abroad.

Artistics also provides services such as art Consultation andArtistics also provides services such as art Consultation andConservation of Art. Artistics has been a major proponent of contemporaryConservation of Art. Artistics has been a major proponent of contemporaryart by providing artists with greater opportunities to engage Indianart by providing artists with greater opportunities to engage Indian

audience as well as providing individual corporate and institutions withaudience as well as providing individual corporate and institutions withaccess to a substantial range of art, information and advice. The Artisticsaccess to a substantial range of art, information and advice. The Artisticsteam works closely with artist of India. India has a rich tradition andteam works closely with artist of India. India has a rich tradition andculture which is hundreds of years old. Our effort is to maintain such oldculture which is hundreds of years old. Our effort is to maintain such oldculture and tradition abroad through our paintings and sculptures. Artisticsculture and tradition abroad through our paintings and sculptures. Artisticsis looking forward to launch its renowned gallery in international marketis looking forward to launch its renowned gallery in international marketwhich means it will now provide fame, honour of Indian arts and offerwhich means it will now provide fame, honour of Indian arts and offer

magnificent paintings which denote Indian culture to the deservingmagnificent paintings which denote Indian culture to the deservingcustomers across the boundaries of India.customers across the boundaries of India.

The concept of launching Artistics in international market is a The concept of launching Artistics in international market is abrittle one. It insists on playing a latest claim to Avant-Grade status, whilebrittle one. It insists on playing a latest claim to Avant-Grade status, whiledownplaying the century-deep view of the modern people. Such adownplaying the century-deep view of the modern people. Such a


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distinction crumbles when we reflect on the history of Indian art, whichdistinction crumbles when we reflect on the history of Indian art, whichachieves in a seague, rather than buy violent rapture, its transitions fromachieves in a seague, rather than buy violent rapture, its transitions fromcolonial to post-colonial idioms, modernists to post modernists positionscolonial to post-colonial idioms, modernists to post modernists positionsand conventional to heterodox strategies.and conventional to heterodox strategies.

ProductProductProduct is an important facet of company life. Product plays a role ofProduct is an important facet of company life. Product plays a role of

bread and butter into the entrepreneur Artistic deals in that kind ofbread and butter into the entrepreneur Artistic deals in that kind ofproduct which gives customers a chance to recognize their culture andproduct which gives customers a chance to recognize their culture andtradition which lies behind the art of the various artists. Paintings oftradition which lies behind the art of the various artists. Paintings of

various such painters are silent speakers which means without uttering avarious such painters are silent speakers which means without uttering aword, it explains what it means to say, that touches your heart.word, it explains what it means to say, that touches your heart.

Our products like paintings, frames and sculptures are not the productsOur products like paintings, frames and sculptures are not the productslike other MNCs like any food items or garments etc or any service whichlike other MNCs like any food items or garments etc or any service whichcan be useful to the consumers. But are products can be used by thecan be useful to the consumers. But are products can be used by theconsumers just to make their house, a home a sweet home.consumers just to make their house, a home a sweet home.

It is used as a decorative item.It is used as a decorative item.

Price:-Price:-Price is a very broad concept. It not only mentions the monetary termPrice is a very broad concept. It not only mentions the monetary term

of the product but also explains the value and the quality of the product.of the product but also explains the value and the quality of the product.


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Higher the price, more will be determined the value and quality of theHigher the price, more will be determined the value and quality of theproduct. The pricing strategy adopted by the Artistics the art of artistproduct. The pricing strategy adopted by the Artistics the art of artist is.

The prices in the countries which we are going will vary according toThe prices in the countries which we are going will vary according to

their currencies. The prices will vary according to the demand, standard oftheir currencies. The prices will vary according to the demand, standard ofliving, and income level of people residing in that particular country.living, and income level of people residing in that particular country.

Art CareArt Careinin ArtisticsArtistics

Care and conservat ionCare and conservat ion

The terms, "restoration" and "conservation" although used The terms, "restoration" and "conservation" although usedinterchangeably, are very different. The differences lie in the fact thatinterchangeably, are very different. The differences lie in the fact thatconservators shy away from using unnecessary and often detrimentalconservators shy away from using unnecessary and often detrimentalchemicals, and prefer using natural materials and methods, which willchemicals, and prefer using natural materials and methods, which willcontribute to the longevity, and therefore, preservation of the object.contribute to the longevity, and therefore, preservation of the object.

Conservation is, in other words, a careful approach, which comprisesConservation is, in other words, a careful approach, which comprises

the processes of stabilization, preservation and often restoration, usingthe processes of stabilization, preservation and often restoration, usingreversible materials, which will not be hazardous to the object. Tworeversible materials, which will not be hazardous to the object. Twoimportant areas under conservation are:important areas under conservation are:


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Preventive conservation in which regular maintenance and care arePreventive conservation in which regular maintenance and care aretaken to prevent the onset of damage or future problems to thetaken to prevent the onset of damage or future problems to theobject. Proper environment, storage, display, etc. are all essential toobject. Proper environment, storage, display, etc. are all essential toforestall deterioration.forestall deterioration.

Interceptive conservation in which any treatment to an object in theInterceptive conservation in which any treatment to an object in theform of cleaning, mending tears, in painting, removing old andform of cleaning, mending tears, in painting, removing old andimproper restorations, etc. is carried outimproper restorations, etc. is carried out

Basic care for paintings andBasic care for paintings andSculptures.Sculptures.

Oil paint ings on canvas:

Avoid scratches and tears, regular maintenance and care should beAvoid scratches and tears, regular maintenance and care should betaken to prevent damage to the painting. Flaking is common in thicktaken to prevent damage to the painting. Flaking is common in thicklayered oil paintings. This depends on methods used for painting andlayered oil paintings. This depends on methods used for painting andproportion of linseed oil and turpentine used. Painting should be properlyproportion of linseed oil and turpentine used. Painting should be properlyframed. Frames are very important for protection of the paintings.framed. Frames are very important for protection of the paintings.


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Frames certainly increase life of paintings.Frames certainly increase life of paintings.

Wall should be dry and free from fungus.Wall should be dry and free from fungus.

Damp walls can spoil paintings.Damp walls can spoil paintings.

Water color on paper:Water color on paper:

Water color paintings should be kept away from direct sun light.Water color paintings should be kept away from direct sun light.

Damp wall can spoil water color paintings.Damp wall can spoil water color paintings.

Do not let dust accumulate on paintings.Do not let dust accumulate on paintings.

The heat of the spot light is likely to fade water color paintingsThe heat of the spot light is likely to fade water color paintings.

Charcoal on paper:Charcoal on paper:

These drawings require the fixers to protect original drawings or theThese drawings require the fixers to protect original drawings or thecolors will smudge.colors will smudge.

Oil pastel, crayon, and cone all this media require fixing avoidingOil pastel, crayon, and cone all this media require fixing avoidingsmudging.smudging.

Sculptures:Sculptures:


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Wood sculptures need careful cleaning. Keep away from white ants andWood sculptures need careful cleaning. Keep away from white ants andtermite. Treatment is advisable. Ceramic sculptures are all weathertermite. Treatment is advisable. Ceramic sculptures are all weathersculptures. Cleaning with water is advisable. Handle with great care tosculptures. Cleaning with water is advisable. Handle with great care to

avoid chipping. Metal sculptures can be washed with water or cleaned withavoid chipping. Metal sculptures can be washed with water or cleaned withdamp cloth as requireddamp cloth as required.

FramesFrames

The frame of a painting is as important as the painting itself. It is notThe frame of a painting is as important as the painting itself. It is notmerely functional but serves to enhance the art-work, complement themerely functional but serves to enhance the art-work, complement thesurroundings in which the painting is hung and also subtly reflect thesurroundings in which the painting is hung and also subtly reflect thetastes of the owner. Like art, frames too can be categorized.tastes of the owner. Like art, frames too can be categorized.

Today, there are multiple options. The frames could be simple, made ofToday, there are multiple options. The frames could be simple, made ofa single or multiple strips. The color of the frame should be such that ita single or multiple strips. The color of the frame should be such that it does not detract from the work of art and also one that blends with thedoes not detract from the work of art and also one that blends with thedcor of the room where the painting is hung. If the work of art is small,dcor of the room where the painting is hung. If the work of art is small,one could mount it on a silk or patterned ground that serves to lift up theone could mount it on a silk or patterned ground that serves to lift up theart object or a painting.art object or a painting.

PlacePlace


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In the 4 Ps of marketing mix, place refers to the nations, the land inIn the 4 Ps of marketing mix, place refers to the nations, the land inwhich the products are sold. And in the eye of Artistic, our place will bewhich the products are sold. And in the eye of Artistic, our place will beAmerica, Great Britain and Australia. Our target audience will be people ofAmerica, Great Britain and Australia. Our target audience will be people ofupper middle class and royal class people. It will be from youngsters to oldupper middle class and royal class people. It will be from youngsters to old

people except, children each and every people who have some knowledgepeople except, children each and every people who have some knowledgeof art.of art.


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Marketing strategiesMarketing strategies

Every marketing strategy that is implemented by a company should beEvery marketing strategy that is implemented by a company should be

analyzed and measured by its ability to directly impact and improve uponanalyzed and measured by its ability to directly impact and improve uponeach of the above listed three factors. Increasing only one of the aboveeach of the above listed three factors. Increasing only one of the above listed factors will produce linear business growth. However increasing alllisted factors will produce linear business growth. However increasing allthree factors will ensure a geometric business growth.three factors will ensure a geometric business growth.

There are only three essential factors that marketing strategies shouldThere are only three essential factors that marketing strategies shouldsatisfy in order to reach the end of growing our business. The threesatisfy in order to reach the end of growing our business. The three

essential marketing strategy factors are as listed and explained below:essential marketing strategy factors are as listed and explained below:

Increase the number of customers:Increase the number of customers:

Increasing the total number of customers is usually the very first stepIncreasing the total number of customers is usually the very first stepthat our business owners and managers resort to in order to grow ourthat our business owners and managers resort to in order to grow ourbusiness. However, this strategy can backfire because losses can occurbusiness. However, this strategy can backfire because losses can occur

when inexperienced sales personnel are put in charge of designing andwhen inexperienced sales personnel are put in charge of designing andimplementing a marketing program.implementing a marketing program.

If executed efficiently and cost effectively, basic marketing strategiesIf executed efficiently and cost effectively, basic marketing strategiesalways produce new prospects that are ready, willing and able to buyalways produce new prospects that are ready, willing and able to buyproducts or services. The main purpose of any marketing strategy is toproducts or services. The main purpose of any marketing strategy is to


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generate new prospects that the sales personnel can convert into payinggenerate new prospects that the sales personnel can convert into payingcustomers.customers.

Increase the average transaction amount:Increase the average transaction amount:

A large number of owners and managers spend most of their timeA large number of owners and managers spend most of their timeoperating their business and searching for new customers. Most of themoperating their business and searching for new customers. Most of themoften overlook their own existing customers. These repeat customers areoften overlook their own existing customers. These repeat customers areusually taken for granted and left to conduct entire transactions withoutusually taken for granted and left to conduct entire transactions withoutever being asked if they would like to buy more product or service.ever being asked if they would like to buy more product or service.

These are the customers who can be tapped further through crossThese are the customers who can be tapped further through crossselling and up selling. It is through systematically offering customers moreselling and up selling. It is through systematically offering customers morevalue via additional products or services at the point of sale that businessvalue via additional products or services at the point of sale that businessowners can take to increase their average transaction amount.owners can take to increase their average transaction amount.

Increase the frequency of repurchase:Increase the frequency of repurchase:

AA customers repeat business is usually only earned by thebusiness that gives the customers what they want. Without puttingin place basic marketing strategies or processes for consistentlyoffering customers more of what they want, the repeat business isearned less frequently.


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Promotional marketingPromotional marketingPromotional marketing is a balanced combination of strategicPromotional marketing is a balanced combination of strategic

activities, giveaways, presentation, and the right timing. The goal ofactivities, giveaways, presentation, and the right timing. The goal ofpromotional marketing is to increase your company awareness in thepromotional marketing is to increase your company awareness in themarketplace. Promotional Marketing includes branded gifts that usuallymarketplace. Promotional Marketing includes branded gifts that usually

tend to increase response rates and the overall effectiveness of your othertend to increase response rates and the overall effectiveness of your othermarketing programs.marketing programs.

Promotional Marketing is gaining a lot of popularity in India recently.Promotional Marketing is gaining a lot of popularity in India recently.This has been noticed especially in the case of the fast moving consumerThis has been noticed especially in the case of the fast moving consumergoods segment. The price wars started out between the two FMCG giantsgoods segment. The price wars started out between the two FMCG giantsHLL and P&G. These price wars have further led to promotions that haveHLL and P&G. These price wars have further led to promotions that have

almost become a norm in the industry.almost become a norm in the industry.

A prospect might just pick up an item of promotion at a tradeshow,A prospect might just pick up an item of promotion at a tradeshow,view it on a co-workers desk, or receive it in the mail. Therefore, there areview it on a co-workers desk, or receive it in the mail. Therefore, there area few important factors to be considered when defining the promotionala few important factors to be considered when defining the promotionalmarketing item to go with your promotional campaign. The very first andmarketing item to go with your promotional campaign. The very first and


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most important step to choosing the right promotional marketing strategymost important step to choosing the right promotional marketing strategyrequires understanding your target audience.requires understanding your target audience.

It is important to find out whether our target customer will enjoy aIt is important to find out whether our target customer will enjoy astuffed toy, or might he/she enjoy something that can be used on a dailystuffed toy, or might he/she enjoy something that can be used on a dailybasis like a pen. Knowing how the target customer spends the time duringbasis like a pen. Knowing how the target customer spends the time duringthe day can greatly influence the type of promotion item that you considerthe day can greatly influence the type of promotion item that you considerand how well the promotion performs in the promotional marketingand how well the promotion performs in the promotional marketingactivity.activity.

PromotionPromotionPromotion refers to all the forms of communication used byPromotion refers to all the forms of communication used by

enterprises to inform, remind, explain, persuade and to influence theenterprises to inform, remind, explain, persuade and to influence theattitudes and buying behavior of customers and other persons.attitudes and buying behavior of customers and other persons.Communication tool are of critical importance in international marketing.Communication tool are of critical importance in international marketing.The promotional methods adopted by the Artistics are:-The promotional methods adopted by the Artistics are:-

Exhibitions: -Exhibitions: - Our product will be exhibited to the people of America,Our product will be exhibited to the people of America,Great Britain and Australia in the trade fairs and exhibitions conducted onGreat Britain and Australia in the trade fairs and exhibitions conducted onvarious occasions.various occasions.


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Hotels: -Hotels: -Our products will be displayed on the walls of the lobby of theOur products will be displayed on the walls of the lobby of thehotels so that visitors may put a glance on it and they will be attractedhotels so that visitors may put a glance on it and they will be attractedtowards it.towards it.

Hoardings: -Hoardings: - Hoardings will be displayed in various places of theseHoardings will be displayed in various places of thesecountries for effective advertising.countries for effective advertising.

Vans: -Vans: - Artistics will be having its own transport van for delivery of itsArtistics will be having its own transport van for delivery of itsproducts and it will contain its name on it. Also posters will be used as aproducts and it will contain its name on it. Also posters will be used as acommunicating tool as it will be put up or placed on the buses.communicating tool as it will be put up or placed on the buses.

Advertisement through Paper Bags: -Advertisement through Paper Bags: -Free paper bags printed with theFree paper bags printed with thebrand name of Artistics will be distributed in crowded areas like funfairs,brand name of Artistics will be distributed in crowded areas like funfairs,trade fairs and markets.trade fairs and markets.

Intl Markt Product Launch Final

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Transcript of Intl Markt Product Launch Final