International Planning
Conducted at highest levels of management; products & long-term goals
Strategic Planning
Add markup to costs
Cost-Plus Model
Colors, symbols, traditions differ by market
Cultural differences
Dominance (D)
Consumer learns about brand
Awareness
Screen company with preliminary analysis for a go-to-market
Phase I (International Planning)
Price high to show luxury
Premium
Safety, packaging, labeling laws differ
Legal/Regulatory
Driven by relationships & enthusiasm
Influencer
Customer compares features & prices
Consideration
Developing Marketing Plan
Phase III International Planning
Ends in .99 to trick brain
Psychological
Product size & pricing match local purchasing power
Economic factors
Driven by loyalty & consistency
Steadiness (S)
Customer makes a transaction
Purchase
Adapt target markets and marketing mix for cultural constraints
Phase II International Planning
DAILY DOUBLE
Price changes by demand & season - GIVE AN EXAMPLE
Dynamic
Car Engine performance adjusts for high altitude
Climate/Geography
Driven by accuracy & precision
Conscientiousness (C) or Compliant
Customer recommends product on social media account
Advocacy
Market Availability, Real-time Analytics, Customer Addressability
MARACA Framework
Free basic + pay to upgrade
Freemium
DAILY DOUBLE
Physiological, Safety, Love and Belonging, Self-Esteen, Self-Actualization - GIVE AN EXAMPLE OF HOW IT CHANGES BETWEEN MARKETS
Maslow's Hierarchy of Needs
Makes spontaneous decisions based on logic
Dominant buyer modality
A customer goes to a store to browse product selection than Amazon to read reviews
Knowledge