IBUS 465 Lecture Notes - Lecture 17: Retail, Marketing Mix, Sales Promotion
7 Dec 2018
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Document Summary
Communication is the final strategic decision of the global marketing mix. The role of communication in global & domestic marketing is similar: communicate information to customers that will help them to make their purchasing decisions. Economic differences: uses of tv vs. radio, levels of literacy. Socio-cultural differences: worldview, signals, symbols, even use of colours. Legal and regulatory conditions: some products are banned from advertising. Competitive differences: promotional strategies depend on the number of and strengths of the competitors and what, when and how they are doing in the country. Advertising: one of the most visible forms of communication for consumer goods (b2c) . It is often the most important part of the communication mix. Major advertising objectives include (in most of the countries): Increasing sales from existing customers: encouraging loyalty, impulse purchases. The advertising budget is related to other elements of the marketing mix budgets.
