INT Marketing Session 5.pptx - Consumer Industrial and...

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Marke t Global consume r Industrial buyer Government buyer Consumer, Industrial, and Government markets
Consumer and marketing Consumers are the focus of marketing activity. Marketing programs are designed to influence them to purchase the firm’s products or services. Sales people are fond of saying that “nothing happens in business unless someone buys something”
Three levels of the global consumer Individual level characteristics of the consumer Nation level factors: Technology and Infrastructure, Political and Legal Environment, Cultural Environment, Economic Environment Supranational factors, Trade institutions and policy, Information and communications technologies, Globalization
Supranational factors Transcend national borders and affect the global consumer at macro, international level. The influence of globalization and Information and Communication Technologies on the emergence and nature of the global consumer has been pervasive. Trade institutions and policy refer to global entities such as the WTO, IMF, and others that influence the evolution of trade and investment at a global level. Nation Level Factors Consumers everywhere are affected by the economic, political, legal, technological, infrastructural, and cultural conditions that characterize the nationals where they live. Individual Level characteristics of the consumer The consumer whose preferences are determined to a large extent by personality traits, personal factors, and other conditions that exist at the individual level.
Drivers of the global consumer Globalization “Globalization refers to the growing interconnectedness of nations, the organization of life in a global scale, and consolidation of world society.” Growing integration of world markets enables individuals, companies, and nations to reach around the world more deeply and efficiently than ever before.
Drivers of the global consumer (Cont.) Globalization Globalization is characterized by a combination of falling trade barriers and the industrialization and modernization of nation worldwide. Today many trade barriers have declined almost zero, particularly among the advanced economies and emerging markets. Globalization reflects the spread of free-market capitalism, which both fosters and is fostered by massive growth in international trade and investment.
Drivers of the global consumer (Cont.) Technological development Technological development in information and communication. Reduce: Trade barriers, geographic distance, lack of transportation technologies
Drivers of the global consumer (Cont.) International mass media TV, movies, the Internet People worldwide view much of the same media programming World of TV show Such media project a lifestyle and living standard that increasingly transcends national boundaries representing a way of life that myriad people wish to embrace.
The Global Consumer Global consumers are individuals or organizational buyers that exhibit similar needs and tastes worldwide.

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