Implications for International Marketing Strategy

Question: Discuss about theImplications for International Marketing Strategy. Answer: Introduction: This particular video has provided an in-depth analysis about the concept of The Zero Moment of Truth. In the year 2011, the concept of ZMOT has been introduced first. The overarching term ZOMOT represents the one of the major part of consumer behavior. Consumers like to collect online information before purchasing a particular product. In order to make an effective promotion of a particular brand, the marketing managers like to follow three steps categorically that include stimulus, shelf and experience. Marketing managers sometimes like to choose television to reach the doorstep of the consumers by providing innovative advertisements (Armstrong et al. 2012). This kind of category is popularly known as Stimulus. Shelf is based on the rating of quantitative sale of the product. After being influenced on the television-advertising customers intends to show their interest in purchasing the product. Experience is the effect of these two earlier steps. Experience may include good or bad. After purchasing a particular product, the customers like to provide an immediate feedback to the company in order to express their experience after using the product (Kumar and Rajan 2012). The primary purpose of Zero Moment of Truth is to provide the customers various sources in order to gather detailed information about a particular brand or product. The next slide of this particular video presents a clear overview about the concept of branding. Brand in a true sense is not a mere advertising, any logo or corporate identity. Brand is a set of unique values that create passion, confidence security and action. Brand differs from a mere product to some extent. Maintaining product quality and security are the key features of a brand, whereas product may not have any guarantee to maintain quality (Berthon et al. 2012). Therefore, the success of an organization is highly dependent on the reliability of brand. For an example, Coca-Cola has to overcome many challenges in order to gain the popularity in international market. Meg Whitman stated in an occasion, When people use your brand as a verb that is remarkable. It can be evaluated from the point of view of Meg that customers play a major role to make a simple product remarkable. However, now a day, the concept of brand has been treated in a different way (Kim et al. 2012). The popular ity of various media platforms helps a product to get the reorganization of a brand. People before purchasing the product tend to collect detail information about its quality and cost efficiency from various sources. Therefore, organizations in order to reach the target market have to make effective promotional activities first to draw the attention of customers. This particular video clip presents an in-depth analysis about the ways of strategic marketing of high and as well as clean tech. Product worth is the underlining concept that is based on the market value. Market value on the other hand is set as per the needs and demands of target consumers (Leonidou et al. 2013). In order to survive in the market amidst innumerable competitors, an organization has to form a pricing strategy to draw customers attention. Pricing strategy is fixed as per the target group. If the organization tends to focus on premium consumer, the marketing executives tend to focus on brand value strategy. On the other hand, low cost strategy is follow to satisfy the low cost customers. Therefore, cost efficiency amalgamated with quality product makes a product worth (Lusch and Vargo 2014). The major tools of pricing strategies include economic value as well as switching cost. Economic value of a particular product is decided as per the consumers income level. On the other hand, switching cost implies that the marketing managers like to decided the pricing strategy based on the target group of a specific regional zone. For an example, if the product is able to gain international fame, the managers tend to fix a pricing strategy that is different from regional or multinational. Some of the major factors highly influence pricing strategy. The factors include customer value, competition, cost of goods, switching cost. In addition, government regulation and finance have also been considered as one of the major factors of affecting pricing strategy. However, different sources of customer value depend on the increase revenue and cut cost. In order to purchase a particular brand, customers need to have financial stability and a certain rate of revenue level. Furthermore, clean technology likes to maintain some of the major regulations such as pollution and environmental law, clean air law, health info portability and accountability act and so on in order to avoid legal issues (Morgan, Katsikeas and Vorhies 2012). Before deciding the pricing strategy, marketing managers generally like to evaluate the background of pricing data. In the background, the managers like to include potential of the customers, customer satisfaction rate and economic value of customers and so on. However, making an effective pricing strategy helps to achieve organizational profitability (Gilligan and Hird 2012). At the same time, pricing strategy is not devoid of some of its major disadvantages as well. Competitors may become a major threat if they get to know the pricing strategy of their rival company. Therefore, organization should be flexible with the changing pricing strategy at every step. 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