Page 124 - DMGT547_INTERNATIONAL_MARKETING

Unit 6: Negotiation and Decision Making

All markets tend to have some or all of these factors in them. Political factors include any Notes
intervention by a government agency. Regulations, laws, or taxes may all play a part, both
positively and negatively. Economic factors include inflation, money supply, fiscal policy, and
other items often out of the control of the company. In many cases, the government may be
involved in both of these two factors.
Social factors in PEST market analysis tools often deal with the perceptions of consumers about
a company or its products. This can also include environmental factors, such as the use of natural
resources by a company. Technological factors represent any use of technology by the company
or its competitors. A company that fails to implement technology, for example, may lose market
share because other companies leverage those opportunities. Market analysis tools using this
approach can have information from multiple markets or economic environments.

In some cases, a company may discover it simply does not have the tools to conduct a market
analysis. When this is the situation, third-party companies or consultants can tailor market
analysis tools for the business. This allows a company to pay for a multitude of tools that include
all the important data. Though third-party resources can be expensive, they may have more
knowledge or expertise in these areas. Therefore, the information is better and provides more
knowledge than an internal report.

Self Assessment

Fill in the blanks:

8. International ............................... analysis tools allow a company to review external factors
that dictate how it sells goods or services to consumers.
9. ............................... factors include any intervention by a government agency.

10. In some cases, a ............................... may discover it simply does not have the tools to
conduct a market analysis.

Case Study Siemens PLM Software Combines Global and Local

with Eloqua's Marketing Automation

hen you're selling complex software that helps companies innovate and build
world-class products, consistency and clarity of marketing communications is
Wa must. Maintaining that message consistency is a challenge for any company,
but for Siemens PLM Software it's compounded by a large, global marketing organization
that supports regional programs across diverse geographies. The provider of Product
Lifecycle Management (PLM) software needs to tell its story on a global scale, across
multiple languages and in a way that is contextually relevant to a variety of different
industry segments and international audiences.

For the Siemens PLM Software global marketing organisation, driving universal brand
and message consistency was an elusive target. A one-size-fits-all marketing message
didn't work across the myriad of challenges faced by customers and prospects and the
unique requirements for each industry, region and regulatory compliance issues. While
marketers in different countries and regions were enjoying moderate success with
independent campaigns, their isolated marketing activities were spawning silos of customer

Contd...

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