Marketing technic
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The document discusses key concepts in borderless and global marketing. It covers topics such as understanding customer needs in different markets, developing products and pricing strategies for various market segments, using promotions and trade shows to enter new international markets, and considering different business models for exporting furniture. It also addresses factors like currency exchange rates, language barriers, and complying with import/export procedures and regulations in global trade. The overall aim is to provide guidance on developing a marketing plan and strategies to successfully compete in both domestic and international markets.
Marketing technic
- 1. BORDERLESS MARKETING Zaini Ithnin Hj. A. Rajak Sistem Maklumat Pasaran Tempatan MTIB, KPPK 1 & Antarabangsa
- 2. Marketing concept Target market Necessity, Needs & Availability Offered products Value & Satisfaction Exchange (Sale and Purchase) Communication and Networking Marketing channel Supply chain Competitions Environments Pasaran Tempatan Sistem Maklumat MTIB, KPPK 2 & Antarabangsa
- 3. Marketing Clients Marketing mix Place Product Comfortability Needs Price Promotion Cost Communication Sistem Maklumat Pasaran Tempatan MTIB, KPPK 3 & Antarabangsa
- 4. Products Differences in customer needs :- Identity and design Standards Size specification & materials Quality standard & finishing Packaging & delivery Export procedure Payment terms Sistem Maklumat Pasaran Tempatan MTIB, KPPK 4 & Antarabangsa
- 5. Marketing segment European market American market Japanese market Middle East market (Non- Traditional Mkt.) India, Africa, Russia, Latin America Difference in size, standards, finishing, packaging, payment terms, export procedures etc. Sistem Maklumat Pasaran Tempatan MTIB, KPPK 5 & Antarabangsa
- 6. Product positioning Low End Low-Medium End Medium End Medium High End High End Difference in quality and prices Sistem Maklumat Pasaran Tempatan MTIB, KPPK 6 & Antarabangsa
- 7. Price Factory price Vs Retail price Material cost + labor cost + overhead cost + margin (price) + capital imbedded cost + marketing related cost = PRICE Pricing approach: - Target price target cost - Value added products - niche market Sistem Maklumat Pasaran Tempatan MTIB, KPPK 7 & Antarabangsa
- 8. PROMOTIONS Advertisements: Printed Magazines, phone directory, newspaper Pamphlets, brochure Electronic media (tv, radio, e- mail, websites, CDi) Furniture fairs, expo, shows Showrooms Sistem Maklumat Pasaran Tempatan MTIB, KPPK 8 & Antarabangsa
- 9. International Furniture Fairs New market explorations Introducing company and products Understand the buyer requirements Investigate market and competitors Keep abreast with current trend Taking trial order Sistem Maklumat Pasaran Tempatan MTIB, KPPK 9 & Antarabangsa
- 10. International furniture fairs Preparation Complete products Catalog / picture of products Price lists - FOB,CIF Packing List Minimum order quantity Delivery lead-time Term of payments > Closed deal during fairs Sistem Maklumat Pasaran Tempatan MTIB, KPPK 10 & Antarabangsa
- 11. Marketing segment Choices on company preparation and factory ability Component supplier Component buyer: assembly, finishing, packaging Export via buyers agent Appointing agent / distributors OEM manufacturing (underlicence) Export to retailers Own design / brand (ODM/OBM) Sistem Maklumat Pasaran Tempatan MTIB, KPPK 11 & Antarabangsa
- 12. Production orientation Production concept mass production: mass market and aggressive marketing (Mass Market) Batch production Special production Product concept Management pushing to produce high quality, high performance, innovative concept - Niche Market. Marketing concept Management satisfying the needs of certain market and more competitive then others - Selective Market Maklumat Pasaran Tempatan Sistem MTIB, KPPK 12 & Antarabangsa
- 13. Following up Responsive and committed Attending the inquiry within 24 hours - fax, e-mail, phone call. Quotation: 2-3 days Sample: 1 week Product development: 4 weeks Trial order: 6-8 weeks Sistem Maklumat Pasaran Tempatan MTIB, KPPK 13 & Antarabangsa
- 14. Marketing plan 1. Mission and Vision VISION : Long term goal company direction & destination. MISION : Plans / activities of programs arranged to achieve the vision. 2. Current market environment Investigate the current domestic and international markets, either recommended and project the future market. Sistem Maklumat Pasaran Tempatan MTIB, KPPK 14 & Antarabangsa
- 15. Marketing plan 3. Opportunity and threat analysis (SWOT ANALYSIS) Strengths: Identify companys advantages Weaknesses: identify organizations handicaps Opportunities: rooms for development Threats: change them into prospects Knowledge about the industry status is needed Sistem Maklumat Pasaran Tempatan MTIB, KPPK 15 & Antarabangsa
- 16. Marketing plan 4. Analysis of competitiveness To study the companys ability, competitiveness and status in specific market as compared to its competitors. In international market, manufacturers from one country will compete competitors from other countries. Search for new approach to be more competitive Sistem Maklumat Pasaran Tempatan MTIB, KPPK 16 & Antarabangsa
- 17. Marketing plan 5. Objectives Business objectives must be devised and SMART Specific Measurable Achievable Realistic Timely Yearly sales increment: 10% Profit increment for 2004: 5% Sistem Maklumat Pasaran Tempatan MTIB, KPPK 17 & Antarabangsa
- 18. Marketing plan 6. Strategic planning Product positioning Promotional approach / methods Pricing policy 7. Follow up actions (Monthly, quarterly, half year) Product development Human resource development Marketing programs Sistem Maklumat Pasaran Tempatan MTIB, KPPK 18 & Antarabangsa
- 19. Global market environment World economic environment Capacity and productivity between producing and buying countries: competitive levels Human resource and technology Trade agreement; trade barriers AFTA, NAFTA, EU, WTO etc. Financial environments Financial crisis, inflation Currency exchange Financial system, banking & payment methods Sistem Maklumat Pasaran Tempatan MTIB, KPPK 19 & Antarabangsa
- 20. GLOBAL market environment 3. Social environment Language, social interaction Design perception, product quality Religion, education level 4. Political & regulation environment Governments laws and policies Differences in ideology and political system International laws and agreements Sistem Maklumat Pasaran Tempatan MTIB, KPPK 20 & Antarabangsa
- 21. STEPS Understand the export procedures, terms and methods Payment choices: letter of credit, payment documentation, telegraphic transfer, acceptance documentation Managing bill of lading, insurance, certificates Participating in marketing promotional activities Applying marketing grants, relaxations Sistem Maklumat Pasaran Tempatan MTIB, KPPK 21 & Antarabangsa
- 22. Conclusions Globalization effects the international and domestic market Success is determine by competitiveness, resiliency & progressiveness Suggested approach: Adaptation of new technology, methods Improving designs, quality and productivity Certification: ISO, CE marking, product standard QC qualification, quality assurance Latest marketing technique Sistem Maklumat Pasaran Tempatan MTIB, KPPK 22 & Antarabangsa