Baby thesis

Recommendation 1: Clarify what is driven globally and what is managed locally A global marketing approach does not mean the absence of local, market-specific plans and initiatives. These should, in fact, be complementary. Global marketing will typically set the framework and parameters within which local marketing operates, whilst giving in-market teams the freedom to control local success levers. Some areas of marketing that lend themselves to being led at a global or central levelinclude branding and brand guidelines, strategic marketing planning and budgeting (with autonomy given to markets within their allocated budget), large-scale marketing campaigns, social media strategy and guidelines, research strategy, and global PR. Other areas best managed locally include local outreach initiatives and more tactical campaigns, local social media channels and PR initiatives, local partnerships and events, etc. Markets need to have some control over the local channels that contribute to driving their success. In practice, it might be useful to divide your markets into tiers. A tiered market will help you identify territories that might drive the highest potential returns. It also allows top tier markets to access bigger budgets, giving them autonomy; for example, research into local users’ behaviours to inform product development. Global and local areas of ownership may differ from company to company. However, it is critical you define the areas clearly to avoid friction and inefficiencies.

Take the time to do this upfront – don’t wait until issues start arising. Recommendation 2: Understand local market needs and develop a collaborative approach Too often, operating globally is seen as an excuse to avoid spending time understanding local cultures, customer needs and behaviours, as well as successful and less successful marketing approaches. And yet, it is obvious that a US-based customer is likely to be very different from a customer located in India or SEA. Their lives, cultures, and needs are different, so it makes sense they will interact very differently with your products or services. For a global model to work, global teams need to develop an understanding of local markets and establish a close relationship with local marketing teams. Gone are the days when global campaigns and strategies were applied in a blanket fashion across all international territories – it simply doesn’t work. Globally defined initiatives and plans need to factor in a degree of flexibility to cater for cultural differences. A community meet-up, social media competition, or treasure-hunt based campaign might resonate well with some markets, and not at all with others. Celebrity endorsement or participation will only work with … well, actual celebrities. And an Indian celebrity is unlikely to be known in France or Japan. Privacy laws can be very different from country to country too. So, if you are in a global marketing role:

Research the markets and take the time to get to know the international teams you will be working with. Trust them to be the experts on local customs and users. And leverage their knowledge to make your global plans and campaigns a success. Recommendation 3: Develop and socialise a global marketing plan early (seek feedback) So, you have established key relationships, researched local markets, and defined global marketing plans which you think accommodate local needs where required. That’s a great start, but don’t wait for the campaign to begin to validate your assumptions. Socialise these plans with your international teams as soon as possible, seek their feedback and ensure that there are no legal issues to prevent your plans from working in certain markets. A proactive approach will give you time to adjust and revise your plans in the event of a problem. It will also allow you to get buy-in from your local colleagues. And, after all, a huge part of the success will rest on their shoulders during execution. Recommendation 4: Manage campaigns like an army operation – plan ruthlessly As the time for your campaign to kick-off approaches, there are a few key elements to consider to help it succeed; starting with outstanding project planning. Appoint a global campaign manager – with responsibility for all communication and coordination around the campaign.

Make sure his/her overall accountability is understood by all. Failing to do this will result in cross-communication, misunderstandings and missed deliverables. Plan ruthlessly – make sure deadlines, responsibilities and deliverables are clear to everyone involved. Plan your campaign’s official launch at a time and date that works for all the countries in the campaign. And, at every step of the way, get all parties to confirm when deliverables have been completed so you can stay on top of the project at a global level. Consider time-zones – your timelines must reflect these so all relevant materials are ready concurrently across all markets. And don’t forget to factor in time for translation, localisation, reviews and iterations. Communicate – plans, deliverables and expectations across different channels and multiple times. Touch base with in-country teams regularly to provide support and advice and to stay on top of the campaign as it unfolds. Recommendation 5: Make sure you track and adjust in real time Running a campaign in multiple markets means you will have to be particularly disciplined about tracking results. The campaign manager is a good person to coordinate this. Here are a few suggestions:

Define key metrics and goals at the start of the campaign at both global and market level (clicks, click-through rate%, conversion rate, average customer spend, etc.) Get buy-in from in-market teams on these targets. Share these metrics early and share them all. Seeing how each market contributes to the overall success of the campaign might help drive a bit of healthy competition! Keep a centralised shared template where market metrics are updated every week/day/any other relevant frequency Review metrics weekly with the team, preferably on a call or video call, and take actions to address under-performance. These discussions should be active and vibrant, allowing all local teams to chip in and contribute. This is also a good opportunity to leverage best practice across markets. Recommendation 6: Consolidate and share insight

Once your campaign comes to an end, make sure you consolidate the insight gained and organise a debrief. It is important results are both shared upward and reviewed with in-market teams. Discuss what worked, what didn’t; which markets the campaign was most successful in and why. Learnings will be invaluable in planning future activity. Recommendation 7: Over-communicate

Effective communication is important at all times, not only when running campaigns. Being in a global marketing role inevitably means you will be working with colleagues around the globe; most of whom will be sitting thousands of miles away from you. In these circumstances it’s easy to feel disconnected. And, if you are disconnected, so is your strategy, plans and activities. A critical element that makes global marketing work is the relationship you establish with in-market teams. An open communication channel is vital in developing trust and nurturing these relationships. Regular (video) calls are a great way to keep the teams up-to-date with the latest global plans and changes, as well as to learn about the latest competitive developments in-market, or to discuss new campaign ideas. Time-zones will make this a challenge, but it can work, and it will pay off. Creating cohesion in the team will go a long way in driving your joined success.

Conclusion

“Competing for the consumer is a never-ending challenge that McDonalds corporation continually faces. This is due principally to the uniqueness and competitiveness of each individual market, for they are all different and all require different approaches” (Cesca, 1999:1) because of different consumer behaviours and factors which affect this behaviour. McDonalds is one of the best marketeers in the world yet even they cannot always predict consumer behaviour; for example, a British promotion to celebrate McDonald’s 25th anniversary attracted many more subscribers than they had expected and the company did not met its dues. This as created many unsatisfied consumers and McDonalds was forced to spend thousands of pounds on apologies and to close some stores temporarily. This case highlights the importance of understanding consumer behaviour and how it is influenced by many factors. There are many factors that affect consumer and business buyer behaviour so it is important use common buyer patterns in your marketing campaign. McDonalds has done this in its marketing for key products and services. Reliance on and highlighting of a quote instead of on the writer’s own implications and conclusions from the information presented in the report. Using a quote would be acceptable if the next sentence/s backed up what the quote was saying and tailored it as an answer to the specific problem discussed in the report. This does not happen here.

Reference to an event not previously discussed in the body of the report. This should not occur in a conclusion, al discussion should arise from material previously presented in the report.

Provides a vague concluding statement rather than a summary of the important conclusions that can be drawn about what factors affect buying behaviour and how these factors affected the marketing strategy of McDonalds in key products and services.

The marketing plan executive summary will most often be the most read section in your business plan. This section provides your readers with a short, concise, quick, and abstract view of your marketing plans and goals. Moreover, this section is mostly read by investors, banks, and other interested parties, which gives them a comprehensive view of your revenue generated ideas and concepts. What should be included in the marketing plan executive summary? A marketing plan executive summary consist of a basic overview of your complete marketing project which is already detailed in your business plan. However, your marketing plan executive summary is highly focused and concise so that your ideas can be clearly identified by the reader. Therefore when writing this section of the business plan, you should include the following 6 vital components in order to adequately define your vision: Market Overview

Competitive Overview
Product Overview
Goals and Objectives
Strategies
Action Plan and Implementation Schedule
Section I: Market Overview
Your market overview section should consist of a succinct overview of your business market. More importantly, you must lay-out your most crucial facts which should answer the following questions: How great is your market possibilities?

What changes are taking place? Is the market slow, steady, or fast? How is the market sectioned? By pricing, age, quality, product usage, or income? Clearly distinguish your target market.
Describe your competitors.
Section II: Competitive Overview
The section includes clearly defined information on your key competitors. The Competitive Overview section will include information pertaining to your direct and indirect competitors. In example, if you own a coffee shop, then your indirect competitor could be the small sandwich shop down the street. As you are laying-out the details in this section, you should answer the following questions: List both your product’s strengths and weaknesses?

What are the main differences between your merchandise and theirs? What are their pricing structures?
List any other products that are being advertised.
How are their products advertised?
What are their goals?
What are they doing to satisfy their goals?
Section III: Product Overview
The Product Overview section details information about your product. Therefore you must include the following: The purpose of the products.
Key features.
Pricing structure.
Marketing position.
Distribution channels.
Advertising and promotions tactics.
Current packaging details.
Section IV: Goals and Objectives
Basically, the goals and objectives section will give the reader information on what your business intends to achieve within a five year period. Your goals should be challenging, measurable, set on a timescale, and affiliated with projected profits. Section V: Strategies

Your strategy is going to be the means to which you achieve all of your goals and objectives. Basically, this is accomplished by formulating a marketing mix. The marketing mix exemplifies the entire marketing process thus aiding you in getting to your goals. Moreover it is composed of 4 key elements which include: product, price, place, and promotion. Section VI: Action Plan and Implementation Schedule

The action plan and implementation schedule is also referred to as the Media Plan. The Media Plan details aspect of how you decide to market your business products or services. Such as: Which media will you use? Internet, magazines, newspapers, etc. Offer details on why you choose such media.