Nate Davies
Jimmy Xu
Business 260 - Marketing
March 2nd, 2018
Jimmy Xu
Business 260 - Marketing
March 2nd, 2018
Discussion Week 6
Section 1:
1. The difference between inbound and outbound marketing is how you attract customers. With inbound marketing, you create value in your brand which then in turn attracts customers with its allure in content and social media marketing. The outbound marketing or traditional marketing is when companies use mass media to get everyone to hear their pitch. This is a much more expensive means of marketing. The best would would be Coca-Cola. They air frequent commercials and paid what I would assume to be the most expensive spot on the list. The top left is the first place Americans read. Coca-colas annual marketing budget was 3.3 billion in 2013 versus Visa who spent 112 million in 2014 on ads. Visa choose the last spot on the the list.
http://adage.com/article/cmo-strategy/coca-cola-maintains-marketing-spend-amid-sluggish-demand/294251/
https://www.statista.com/statistics/192292/us-ad-spending-of-visa/
2. I don't use social media so I don't see ads focused on me regularly. I also use google chromes ad block so I am not bum-bared with ads reflecting my search results nor do I watch them before youtube videos. But when I did they usually revolved around office equipment, school supplies, and athletic gear (outdoors/boxing).
3. The Olympics would mainly represent nationalism and prestige in my opinion. Although GE stock has not done well lately and they have an extremely negative affect on the environment despite ad campaigns green-washing them, they do have a sense of pride and nationalism in America. Their commercials often talk bout its employment of US workers and its founding in New York in 1892.
4. I don't have a twitter account but I did search the twitter page. I like Jimmy Fallon's show from time to time which was an semi related advertisement on the Olympic page. Most of the ads on the twitter page were filled with hugs and smiling people I guess that resonated with me when I was in middle and school when winning wrestling tournaments.
Section 2
I think you need to abandon many preconceived notations about how great your company and its successes are in your home country when crossing boarders. Your mission should stay the same. If it is to give people a great service then stick to that but conveying that idea may be different culturally. Wal-Mart clearly found that obstacle with its sites in Germany. One must first use STP to find an optimal stance in the market relative to current-longstanding competitors. The second tool I would use would be a joint venture. If you don't want to use a similar firm to localize your business then you would want to pay a native marketing consultant to familiarize your product and services to the people. Finally, one could say the most important part to take into account when entering uncharted territory would be the political environment. Recognizing municipal tariffs, quotas, trade agreements, and exchange are crucial to the success of a emigrating firm.
1. The difference between inbound and outbound marketing is how you attract customers. With inbound marketing, you create value in your brand which then in turn attracts customers with its allure in content and social media marketing. The outbound marketing or traditional marketing is when companies use mass media to get everyone to hear their pitch. This is a much more expensive means of marketing. The best would would be Coca-Cola. They air frequent commercials and paid what I would assume to be the most expensive spot on the list. The top left is the first place Americans read. Coca-colas annual marketing budget was 3.3 billion in 2013 versus Visa who spent 112 million in 2014 on ads. Visa choose the last spot on the the list.
http://adage.com/article/cmo-strategy/coca-cola-maintains-marketing-spend-amid-sluggish-demand/294251/
https://www.statista.com/statistics/192292/us-ad-spending-of-visa/
2. I don't use social media so I don't see ads focused on me regularly. I also use google chromes ad block so I am not bum-bared with ads reflecting my search results nor do I watch them before youtube videos. But when I did they usually revolved around office equipment, school supplies, and athletic gear (outdoors/boxing).
3. The Olympics would mainly represent nationalism and prestige in my opinion. Although GE stock has not done well lately and they have an extremely negative affect on the environment despite ad campaigns green-washing them, they do have a sense of pride and nationalism in America. Their commercials often talk bout its employment of US workers and its founding in New York in 1892.
4. I don't have a twitter account but I did search the twitter page. I like Jimmy Fallon's show from time to time which was an semi related advertisement on the Olympic page. Most of the ads on the twitter page were filled with hugs and smiling people I guess that resonated with me when I was in middle and school when winning wrestling tournaments.
Section 2
I think you need to abandon many preconceived notations about how great your company and its successes are in your home country when crossing boarders. Your mission should stay the same. If it is to give people a great service then stick to that but conveying that idea may be different culturally. Wal-Mart clearly found that obstacle with its sites in Germany. One must first use STP to find an optimal stance in the market relative to current-longstanding competitors. The second tool I would use would be a joint venture. If you don't want to use a similar firm to localize your business then you would want to pay a native marketing consultant to familiarize your product and services to the people. Finally, one could say the most important part to take into account when entering uncharted territory would be the political environment. Recognizing municipal tariffs, quotas, trade agreements, and exchange are crucial to the success of a emigrating firm.
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