How Marketing Communication Enters the Purchase Process in Emerging and Mature Markets - Coursework Example

Winning hearts, minds and sales: How marketing communication enters the purchase process in emerging and mature markets Contents Contents 2 Introduction 3 Key Issues 4 Regulative, Cultural and Economic System Differences 4 Consumer Mindset Metrics and their criteria of effectiveness 7 Technological Differences 8 Short Summary 9 References 9 Introduction In the global market customers have different response from their hearts and minds for the response to various marketing communication done by the companies. Different research over the need of the mindset metric in the effective selling of a product like the brand liking and its image in the mind of the customers is been done which implies that it has an important role in the purchase power of the customers in the market. This study helps to know how the mindset of people does affect lot on the purchase power trough the importance of mindset metrics which depends highly on the regulative, economic and cultural systems that are the basic structure maker of the society. Here in the study it can be seen that lack of regulative protection which leads the customer to be more concerned about the product and become more aware of the market and market communication. Secondly it is seen that consumers who live in the collective culture are much less responsive to the advertising and brand liking in the market than compared to the other consumers living in an open culture (Andaleeb and Anwar, p.45). Finally it is also seen that consumer’s income does affect a lot in the sale of a particular product. In the essay the particular topic is been studied with examples of certain brands taking both the emerging and mature markets of two different countries. The opportunities and threats of increasing globalization have made the companies to strive hard for success in international market in both emerging and mature markets (Aaker, 2004, pp. 40-45). Companies do try and win the hearts and increase the sales of its products in the emerging markets which does gives high economic growth in the company’s revenue. It is very difficult for the company to influence consumer’s preferences and attitude for making them purchase their products. The different aspects which affect the buying behaviour of the consumer differ among various customers depending on many factors like the country, culture, and group. In this study the mindset metrics of consumers is done ting into consideration of both emerging and mature markets of two different countries where in Brazil is taken as the emerging economy and UK as the matured market (Hawkins. 1998, pp. 95-100). The conceptual study regarding the behaviour and attitudes based on different markets taking certain examples which shows that the brands should look to create a romantic and love affect on the customer so that it helps in creating brand image and brand liking on the consumers mind (Aaker and Joachimsthaler, 2000 pp. 32-36). The various issues which are been seen that do show that mindset and winning hearts of the consumers do affect a lot in increasing the market share in both the types of market are been seen in the study(Hague and Jackson, 1994, pp. 78-85). Key Issues Based on the conceptual study the various key issues that affect the sales in emerging and mature markets taking various brand as example is been implemented below. Regulative, Cultural and Economic System Differences In the process to gain and attract customers depending on their lifestyles, advertisers look to continually push the products in the market with new various creative styles. As a part of the regulative factor is related to the protection of consumers from the poor-quality product is been studied looking into consideration of how the consumers react to the communication used for marketing by various companies for different products (Arnold, 1992, pp.20-25) .There have been controversies related to the advertisements and the way messages is been produced in the market. Marketing controversies like in 1970s Calvin Klein came up with advertisements which featured Brooke Shields most notorious part of Kiddies-porn which led to lots of controversies. Companies need to look out for few features before starting their marketing campaign in a particular market like how the authorities make different regulations in the country, what type of resources consumers have so that they can access to find the information regarding various defective products and services they want to buy before they make their buying decision and also look out for the quality regulations that are been there in a certain country for a particular product (Belk, 2007, pp. 60-65). In Brazil which is an emerging market has less protection acts for the customers for the poor quality products than compared to the protection regulations in UK. The UK has a designated government body and office to see the complaints made by the consumers-the office of fair trading; on the other hand Brazil has a consumer protection national system which has a loose connection between the country and the civil society in the country which does affects the consumers in a big way (Doole and Lowe, 2008, pp. 2-5). Thus the company has to pitch their products taking these regulations into consideration as this will influence the consumer behaviour in a huge way as in one side consumers may have trust over the marketing communication much less in Brazil as they can get mislead with wrong marketing communication (Larsen, 2010, pp. 5-7). Thus due to concerns for the poor quality product and protect the customers from taking up such products the regulations are been made (Brown, 2009, pp: 70-75). Culture as a factor for market communication is one of the main issues and differs for different societies and also defines the nature of the relation that the market communication of a particular product creates with an individual and also a group (Bryman and Bell, 2003, pp. 5-10). Culture for people living in individualist environment is completely different from those in the group as individualist consumers will have their own choice and ideas about a particular product or a marketing statement on the other hand people in group will have an influence of the group ideas and thoughts (Burgemeister, 2003, pp. 55-57). Culture as in whole includes the knowledge, moral, customs and other habits of a man and in whole that of a country in the international market. There is a lot of difference that also come up with the differences in the languages and the way the particular thing is been interpreted in a particular country (Burrow, 2011, pp. 16-20). Brazilian people are more part of a group here in they find themselves comfortable within a group and believe less on the market communications and more on what has been interpreted by the group as in whole, the culture in US market is completely different as consumers in US market have more individualistic approach and they tend to have their own beliefs over various communications made by different companies using various platforms of marketing (Cheverton, 2006, pp. 35-37). Economic parities are basically the GDP or the economic structure of the country that determines the buying power of the customers (Jobber, 2012, pp. 41-44). As UK being one of the developed countries has more economic stability than compared to Brazil which is one of the emerging and developing country as a result the expenses that a particular customer can bear differs in both the markets (Keller, 1998, pp. 40-44). Thus for making a correct marketing statement for a particular product the companies should take into consideration all the three factors of regulations, culture and income and launch a product based on these factors to gain more sales (Knapp, 2000, pp. 15-20). The product being marketed should be done taking the different culture and the buying power of the customers, if a product is launched inappropriately than it will never create a good brand image and it will never have a good brand liking in the market among all its competitors which is very important to build the market share and increase the revenue as a result of increasing sales volume (Knapp, 2000, pp. 45-50). Consumer Mindset Metrics and their criteria of effectiveness Consumer mindset metrics covers the features such as brand awareness, consideration, preference and liking among the consumers of a particular market (Wenderoth, 2009, pp. 79-82). These features in metrics helps to understand the brand exposure and the buying decision making in the consumers mind which differs from market to market (Kotler, 2001, pp. 16-20). The communication awareness and brand liking does play an impact on the products sales and creating a brand image (Wright, 2006, pp. 45-47). This metric covers the responsive power of the consumers which gives a clear idea about the response that a particular product is getting from the market, the factor which makes the consumers in sticking to a particular brand rather than shifting their brand likeness and also the amount of sales conversion that shows the sales volume of the particular product in the market (Kotler, and Keller, 2006, pp. 23-34). In Brazil for an emerging market the response to a particular advertisement is more in communication awareness while in UK consideration and liking is more in UK in a matured market, while the brand consideration for both the market is quite the same but the brand licking in Brazil is significantly low when compared to the brand liking in UK (Kotler and Pfoertsch, 2006, pp. 34-37). This responsiveness and liking differences in the various markets does affects the companies in its sales volume as in the market with more brand liking and preference for a particular product will result in higher sales volume of that product than compared to the sales volume of the same product in a market with less brand preference for it (Moore, 1963, pp. 67-70). Thus companies should look to create better communication technique which will create better image in the emerging market where consumers are more into group culture. The major difference is the communication awareness which results to create more than twice the sales conversion in Brazil than compared to in UK, while liking has created twice the sales conversion in UK than in Brazil (Mueller, 2011, pp. 56-59). Thus it can be seen that creating the brand awareness and brand liking are very important in both the markets for gathering more sales. Technological Differences Technology is a major driving factor in global marketing and to move in the global market in both matured and also emerging market (Pride and Ferrell, 2011, pp. 57-60). The technological development in both the markets varies in a big way and companies should launch their product based on these developments for example like Apple launches more technically build and featured products in the matured market like in UK and USA on the other hand it launches products with less technically accomplished products in the emerging markets like INDIA, Brazil etc (Ries and Trout, 1986, pp. 23-25) As knowing the right market requirement is very important for the company before launching a particular product. This factor also affect in big way in the company’s marketing communication process using various platforms and have to keep in mind how much the consumers are depended on technical aspects and platforms for getting more brand awareness (Rossiter and Percy, 1987, pp.56-62). In Brazil being an emerging market consumers are more depended on the group influence than talks than on technical specification whereas for matured markets like UK people highly depend on technology and are more get more awareness about the products from various technical platforms and get preference for products based on the advertisements shown in television or in various platforms (Stafford and Faber, 2005. Pp. 43-45). Short Summary This study shows that the companies market communication process is mainly done to gain the brand image in the mind and create a wow factor in the hearts of the customers for the particular product so that the sales of the particular product in the market. The various factors been studied in the essay which mainly covers the main three issues are the differences in cultural, regulative and economic factors causing the changes in purchasing factors of the consumers in both matured and emerging markets, the second being the consumer metrics for responsiveness, liking and preferences of a particular product as these factors implements the thing how a particular brand has created its image in the mind of the customer and whether the customers love the product which they are being using. The third key issue which affects the global market in a huge way is the technological advancement in different countries. The matured countries are highly technologically well equipped when compared to the emerging markets like Brazil and India, with this into consideration the market communication for every product should be done carefully through the right platform so that the right message is been to the customers and the product is able to create a good brand image in the minds of the customers. Thus we can see that winning the heart and mind of the customers in emerging market is more important as they are more culturally attached to each other in groups than in matured market so that the sales volume is high globally across both the matured and the emerging markets. References Andaleeb, S. S. and Anwar, S. F. 1996. Factors influencing customer trust in salespersons in a developing country. Journal of International Marketing, 4(1), pp.35-52. Aaker, D. A. 2004. Brand Portfolio Strategy. New York: Free Press. Aaker, D.and Joachimsthaler, E. 2000. Brand Leadership. New York: Free Press. 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