Our instructor speaks English, French and German. He is passionate about teaching us the facts, statistics and entrepreneurial opportunities of international marketing.
In our first three classes, instructor Anthony Pauk shared insights that he gained as an international deal maker for large multinationals like Montreal-based Bombardier.
Rule number one to successful marketing is to take an idea already in existence and make it more successful. Of course, reengineering require critical thinking skills combined with creative insights.
Audience Analysis
But you also have to understand the audience, particularly its needs and wants. For example, most cultures view aluminium pans as an improvement over heavy cast-iron pans. However, Germans will not buy aluminium cooking utensils because they associate heaviness with durability and functionality.
Focus groups are so important early in the product planning cycle.
Goal of Marketing
Marketing communicates a vision to customers and employees. International marketing messages have a much broader scope to communicate.
Most marketing efforts focus on value, which equals benefits divided by price. Price can involve money, but some people don't consider that time and effort applied towards a product also is part of its price. For example, buying a cat also requires the new owner to spend time and effort grooming, feeding and cleaning.
Hardest Marketing Challenge
Our instructor remarked that the hardest challenge that marketing poses is that marketers have to:
- Put themselves in the shoes of the audience
- Think the way the audience thinks
- Figure out what the audience wants.
In international trade, that effort becomes even more complicated because of the different cultural norms and values around the world.
International Marketing Tips
- Companies must focus their efforts on core competencies. That's why a world-leading multinational like Nestlé focuses strictly on its food and beverage lines of business.
- Since 80% of marketing results come from 20% of sales prospects, the most effort must be applied to those countries that maximize value for marketing dollars spent.
