4.8 S7: Set Marketing

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Из курса от партнера Yonsei University

International Marketing Entry and Execution

98 оценки

Yonsei University

International Marketing Entry and Execution

98 оценки

Курс 2 из 6 — Specialization International Marketing & Cross Industry Growth

This will be part 2 of a two-series foundation courses for the Specialization: International Marketing & Cross Industry Growth. This course will dive in more deeply into consumer science investigation, B2C marketing, International Marketing Entry, Targeting, Positioning, International Product, International Promotion, International Place and International Price. The last set of classes will discuss seven new ways to innovate in International Marketing that all start with the letter "S" and hence will be called the 7S International Marketing Innovation. There will be a heavy emphasis on how companies can incorporate CCCI Innovation, i.e. Cross Country and Cross Industry Innovation in marketing. After you successfully complete this course learners will obtain the following outcomes: (1) from a business to consumer standpoint (B2C), learn how to approach consumers as science investigators. (2) an understanding of how to enter international markets, select targets and position their brands. (3) achieve deeper insights into the core meaning of international marketing elements, i.e. product, promotion, place, and price in the international marketing context, and their inter-element relationships with each other. (4) acquire new thinking about innovating in marketing with the 7S approach: social, small, simple, skip, sports, screen, and set marketing with cross-country and cross-industry innovation implications.

Из урока

7S of International Marketing Innovation

Week 4 will explain the ‘out of the box’ thinking for marketing in terms of the 7S's of Marketing Innovation: Social Marketing, Small Marketing, Simple Marketing, Skip Marketing, Sports Marketing, Screen Marketing and Set Marketing. Here too we will examine their CCCI Innovation implications.

4.1 7S Innovation Marketing1:12

4.2 S1: Social Marketing6:53

4.3 S2: Small Marketing9:40

4.4 S3: Simple Marketing7:15

4.5 S4: Skip Marketing7:41

4.6 S5: Sports Marketing9:08

4.7 S6: Screen Marketing9:20

4.8 S7: Set Marketing6:59

Instructor's Thank You0:12

Познакомьтесь с преподавателями

Dae Ryun Chang
Professor of Marketing
School of Business

Welcome the the segment S7 Marketing and

here S will refer to Set Marketing and this will be

the last of these seven S's of innovative marketing.

But the agenda will be to explain what Set Marketing means,

I'll give you some simple examples.

I'll talk about the Cross Country Implications.

And finally, end up with the Cross Industry Implications.

So let's get started.

Hey, what is Set Marketing?

Simply put Set Marketing talks about a complementarity among products.

So in economics, we talked about substitutes.

Well, this is exactly the opposite.

These are products that don't compete against each other, but are used together.

They create this complementary demand.

So here are some easy and in fact, famous examples.

So when marketers and when economists

talk about complimentary demand.

The often used example is that of Razors and Blades.

So if you have these old-fashioned razors,

of course, you have to use a blades and

you'll often have to replace blades.

You can't use one without the other and

the same is true with hardware and software.

And if you're like me, I have this peeve about printers,

because you can't use printers of course without paper or toners.

And often, the pricing reflects paper and toners being a little more expensive.

Because again, we have this dependent relationship among these

complementary products even though the printer might be cheaper.

They make up for that by charging more especially for

non substitutable toners.

So from a cross country standpoint,

the key question to ask is whether or not that kind

of complementarity and here, I've used A1 and A1+.

So, A1+ refers to that complementary product.

So sticking to the printer example, we're talking about

printers needing paper, printers also needing toner.

So A1+ represent that.

But when we're going abroad, that's still true.

Because abroad with, again, the same A product,

A2 in Country Two may not need or

have a different dynamic between,

again, the printer and the paper and the toner.

Let's say, for example, that even though in our country,

Country One that you have to buy a related toner.

That in Country Two, that you have these enterprising [LAUGH] middlemen.

That sell these refillable toners and

this will impact the pricing for us.

Not only for our competition, but also for us.

If we were charging much higher for

the related toners Because they were non-substitutable

in country two because they are substitutable.

There, we can't charge as much for the toner,

because there's more heavy competition.

There's no monopoly that we enjoy in Country One,

holding true in Country Two.

So that is the key question that we have to ask ourselves.

If that doesn't exist, how do we replace that?

And therefore, the question mark.

As for Across Industry Implications here,

again, we have to think about not only

the relationship between A1 and A1+,

but also the relationship between us and

new industry use technologies,

because B1 may actually replace the need for A1+.

And a good example of that, of course is the digital printing.

So digital products have eliminated

many of the analog kind of complementarity that existed before.

Now with the digital printing, it eliminates the need for paper.

So again, we have to understand the whole value chain

of needs that are needed in the present industry and

assess how substitutable they are,

given the innovations taking place in other industry for technology.

So, summing up the takeaways from this segment is that we learned that many

industries are not self-sufficient, but they have these intervally demand.

These so-called complement and these complement can increase

our wiggle room, but that can only be true for our country.

So when we travel abroad, when we want to expand abroad,

that kind of complementarity may not exist.

So we have to really match that Noon Nopi,

that complementary Noon Nopi between products across countries.

And from a cross industry standpoint, we have to learn that

outside industries can help usalter the complementary dynamic.

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