SBANC
Small Business Advancement National Center University of Central Arkansas — Conway Arkansas
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115H, College of Business - University of Central Arkansas - 201 Donaghey Ave. Conway, AR Issue: 813 – April 15th, 2014
Of The Week
“Your workforce is your most valuable asset. The knowledge and skills they have represent the fuel that drives the engine of business.” - H a rv e y Mac k a y
Upcoming Conferences ICBAEE
AMA
Who: International Conference What: Int’l Conference on Biotechnology, Agriculture, When: May 22-23, 2014 Environment and Energy Where: Beijing, China
Who: Atlantic Marketing Association
When: September 24-27, 2014 Where: Asheville, NC
What: 2014 Conference
MMA
Who: Marketing Management Association.
When: September 17-19, 2014 Where: San Antonio, TX
What: Educator’s Conference
Who: GBC GBC
What: Winter Conference When: February 2-6, 2014
Where: Tignes, France
Announcements SBANC
IEDC
SOBIE
ICSB
UNM
The Small Business Advancement National Center aims at increasing your knowledge of small business and entrepreneurship. All questions and comments are greatly appreciated. The International Economic Development Council will be offering an Economic Development Marketing & Attraction course from June 5-6, 2014 in Baltimore, MD, which qualifies as a professional development elective needed for the Certified Economic Developers Exam.
The Society of Business, Industry, and Economics will be holding their 16th Academic Conference at Sandestin Golf and Beach Resort in Destin, Florida from April 8-11, 2014. The Mentoring Institute at the University of New Mexico is accepting proposals for its seventh annual Mentoring Conference. The 2014 conference will be held on Tuesday, October 21 through Friday, October 24 in Albuquerque, NM, at the Student Union Building, UNM.
The International Economic Development Council will be hosting a 2014 Spring Conference in Minneapolis, USA from June 13, 2014.
Call for Papers HSGBI
Who: Healthcare Systems and Global Business Issues What: 8
AGB
th
Int’l Conference
Who: Association for Global Business th
ASBE
SBR
When: June 23-25, 2014 Where: Lincolnshire, England Deadline: May 15, 2014 When: November 13-15, 2014 Where: Orlando, FL
What: 26 Int’l Conference
Deadline: August 30, 2014
Who: Association for Small Business & Entrepreneurship
When: September 24-26, 2014
What: Memphis Conference
Deadline: June 16, 2014
Who: Society of Business Research
When: October 23-25, 2014
What: Nashville Conference
Deadline: October 1, 2014
Where: Memphis, TN
Where: Nashville, TN
Developing an International Marketing Strategy In developing a marketing mix, international marketers may choose between two alternative approaches: a global marketing strategy or a multidomestic marketing strategy. A global marketing strategy defines a standard
Tip
of the Week
“A global marketing strategy defines a standard marketing mix and implements it with minimal modification in all foreign markets.”
marketing mix and implements it with minimal modifi-
global strategy can foster collab-
business magazines and inter-
cation in all foreign markets.
orative innovation, as with the
national transmissions of TV
This approach brings the
development of Pringles Stixx, a
channels like Fox, CNN, MTV,
advantage of economics of
recent extension of the popular
and CNBC financial network
scale to production and mar-
product line. Pringles’ strong
help marketers deliver a single
keting activities. Marketers
global performance played heav-
message to millions of global
at Procter & Gamble de-
ily in Kellogg’s recent decision to
viewers. DIRECTV recently be-
vised a global marketing
acquire the brand from P&G.
came the exclusive satellite TV
strategy for Pringle potato
A global marketing perspective
provider of RTVI, an independ-
chips, a leading expert
can effectively market some
ent 24-hour Russian-language
brand. P&G began by sell-
goods and services to segments
TV network reaching 50 million
ing one product with con-
in many nations that share cul-
viewers across the globe.
sistent formulation in every
tures and languages. This ap-
A global marketing strategy can
country and met 80% of the
proach works especially well for
also be highly effective for luxu-
worldwide demand with only
products with strong, universal
ry products that target upscale
six flavors of Pringles and
appeal such as Nike, luxury
consumers everywhere. Market-
one package design. Such a
items like Rolex watches, and
ers of diamonds and luxury
standardized approach
high-tech brands such as Mi-
watches, for instance, typically
saves money because it al-
crosoft. Global advertising out-
use advertising with little to no
lows large-scale production
lets such as international edi-
copy—just a picture of a beauti-
tions of popular consumer and
ful diamond or watch with the
“
runs and reinforces the brand’s image. In addition, a
name discreetly displayed on the page. But global strategy doesn’t always work, as Domino’s
“Domino’s new global strategy involved a pizza makeover to meet local preferences in Asia. Domino’s has reentered the Singapore market with 13 new stores.”
discovered after it opened stores in Asia during the late
essary to practice market seg-
1990s. With its “30-minutes-
mentation outside their home
or-it’s-free” policy, the pizza
markets and tailor their market-
purveyor has been known
ing mixes to fit the unique needs
for the fastest pizzas rather
of customers in specific coun-
than the best tasting ones.
tries. This multidomestic market-
Apparently for Asians, the
ing strategy assumes that differ-
30-minute guarantee wasn’t
ences between market charac-
attractive enough to offset
teristics and competitive situa-
how the food tasted, and
tions in certain nations require
Domino’s ended up closing
firms to customize their market-
more than 50 stores in Hong
ing decisions to effectively reach
Kong, Indonesia, Singapore,
individual marketplaces. Many
and Thailand from 1997 to
marketing experts believe that
2001. Recently, Domino’s
most products demand muilti-
threw out its 50-year-old
domestic marketing strategies to
recipe and underwent a piz-
give them realistic global market-
za makeover. Armed with a
ing appeal. Cultural, Geograph-
bold, new taste and pizza
ical, language , and other differ-
toppings geared towards
ences simply make it difficult to
local preferences (like chick-
send the same message to
en, ham, and fresh pineap-
many countries. Specific situa-
ple), Domino’s reentered
tions may allow marketers to
Singapore, opening 13
standardize some parts of the
stores there.
marketing process but customize
A major benefit of a global marketing strategy is its low
“
cost to implement. Most, firms, however, find it nec-
others.
Feature Paper
SBANC Staff
Psychological Entitlement and Deservingness as
Executive Director
Predictors of Socially Responsible Workplace Decisions
Dr. Don B. Bradley III
Development Intern James Vire
Abstract
Development Intern
Organizations of all sizes can gain a competitive advantage when their employees make ethically sound decisions that benefit organizational stakeholders. Yet identifying employees most likely to make such decisions can be daunting. Building upon agency theory (Jensen&Meckling,1976; Fama, 1980) and the literature on distributive justice (e.g., Folger & Konovsky, 1989; Colquittet al., 2001), we propose that job candidates with higher levels of psychological entitlement and deservingness will make less ethical decisions for and about their organizations. Results from a surveyof118 potential job candidates provide some support for our hypotheses. Theoretical and practical implications are discussed.
Joshua Tucker
(pg. 85) Read Entire Paper Here
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Tip of the Week Source: Contemporary Marketing
UCA Box 5018 201 Donaghey Avenue Conway, AR 72035-0001
Sixteenth Edition Boone & Kurtz Cengage Learning Page 256-258
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