21st century03

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MARKETING IN 21STCENTURY

1

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2

NEHA

MAKWANA

{14}

SHRADDHA

SAPALIGA

{24}

SNEHA

DUTTA {04}

AFTAB

DEWANI

{34}

SANIF

MAREDIA

{38}

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3

Acknowledgement

WE WOULD LIKE TO EXPRESS OUR PROFOUND GRATITUDE TO OUR PROJECT

GUIDE PROF JALPA, WHO HAS SO ABLY GUIDED OUR RESEARCH PROJECT

WITH HER VAST FUND OF KNOWLEDGE, ADVICE AND CONSTANT

ENCOURAGEMENT, WHICH MADE US, THINK PAST THE DIFFICULTIES AND

LEAD US TO SUCCESSFUL COMPLETION OF THE PROJECT.

WE HAVE TRIED TO COVER ALL THE ASPECTS OF THE PROJECT & EVERY

CARE HAS BEEN TAKEN TO MAKE THE PROJECT FAULTLESS. WE HAVE

TRIED TO WRITE THE PROJECT IN OUR WORDS AS FAR AS POSSIBLE AND

SIMPLIFIED ALL THE CONCEPTS BY PRESENTING IT IN A DIFFERENT FORM.

WELL BE LOOKING FORWARD IN FUTURE FOR SUCH TYPE OF PROJECT. WE

ARE EAGERLY WAITING FOR FRUITFUL

COMMENTS & CONSTRUCTIVE

SUGGESTIONS.

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4

INDEX

SR.NO TOPIC 1. Defining Marketing for the 21st Century 5-6

2. Marketing Challenges in the 21st Century 7-9

3. The Evolution of Marketing 10-11

4. Types of marketing research 12-23

5.

Marketing In The 21st Century

24-25

6. Marketing to 21st Century Customers: 26-29

7. International Marketing Research in the 21st Century 30-37

8. Conclusion 38

9. Bibliography 39

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5

DEFINING MARKETING FOR THE 21ST

CENTURY

The 21st century has seen the advent of the

new economy, thanks to the technology

innovation and development. To understand

the new economy, it is important to

understand in brief characteristics and

features of the old economy. Industrial

revolution was the start point of the old

economy with focus on producing

massive quantities of standardized

products. This mass product wasimportant for cost reduction and

satisfying large consumer base, as

production increased companies expanded

into new markets across geographical

areas. The old economy had the

organizational hierarchy where in top

management gave out instructions which

were executed by the middle manager over

the workers.

In contrast, the new economy has seen the buying power at all time thanks to the

digital revolution. Consumers have access to all types information for product and

services. Furthermore, standardization has been replaced by more customization

with a dramatic increase in terms of product offering. Purchase experience has also

changed as well with the introduction of online purchase, which can be done 24

7 with products getting delivered at office or home.

Companies have also taken advantage of information available and are designing

more efficient marketing programs across consumers as well as the distribution

channel. Digital revolution has increased speed of communication mobile, e-mailSMS, etc. This helps companies take faster decisions and implement strategies more

swiftly.

Marketing is art of developing, advertising and distributing goods and

services to consumer as well as business.

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6

However, marketing is not just limited to goods and services it is extended to

everything from places to ideas and in between. This brings forth many challenges

within which marketing people have to take strategy decisions.

For business market, knowledge and awareness of product is very essential formarketing people as businesses are on the lookout to maintain or establish a

credential in their respective market. For global market, marketing people have to

consider not only culture diversity but also be careful with respect to international

trade laws, trade agreement, and regulatory requirements of individual market For

non for profit organization with limited budgets, importance is related to pricing of

products, so companies have to design and sell products accordingly.

Marketing philosophy employed by any given company has to be mix of

organization interest, consumer interest and societal interest.

In production philosophy, companies focus is on numbers, high production count,

which reduces cost per unit and along with mass distribution. This kind of concept

is usually making sense in a developing market where there is the need of product

in large numbers. The product philosophy talks about consumers who are willing

to pay an extra premium for high quality and reliable performance, so companies

focus on producing well made products. The last philosophy is the societal concept

which believes in developing products, which not only generate consumer

satisfaction but also take into account well being of society or environment. Digital

revolution and 21st century have made companies fine tune the way they conducttheir business.

One major trend observed is the need of stream lining processes and systems

with the focus on cost reduction through outsourcing.

Another trend observed in companies is, encouragement to entrepreneur style of

work environment with global (global-local) approach. At the same time,

marketers of companies are looking forward to building long term relationship

with consumers. This relationship establishes platform understanding consumer

needs and preference. Marketers are looking at distribution channels as partners inbusiness and not as the customer. Companies and marketers are making decisions

using various computers simulated models.

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MARKETING CHALLENGES IN THE 21ST

CENTURY

Marketing grows even more complex; it is an ever-evolving discipline. It builds on

past while taking advantage of new opportunities. Each new challenge demands a firm

grasp of what has happened before, a clear picture of the present situation, and anunderstanding of the n-lost important new options at the moment. In. general, the

centre of attention in marketing has to shift away from the instruments and concentrate

on information. Creation of personalized customer relationships, calculating the

lifetime value of customer and investing in it, and satisfying and retaining existing

customers and using predictive modelling to target those customers n-most similar to

existing customers will be the ultimate approaches to face the marketing challenges of

the 21st century.

As an art or science, marketing is undergoing dramatic and exciting changes, and the

field promises to be just as dynamic in the years ahead. Marketing has emerged as themost critical function in today's international business climate; even the smallest of the

firms are now using innovative marketing techniques due to increasing global

competition. As soon as you click on your TV, a commercial for Ariel or Brite washing

powder balloons onto the screen, followed by an advertisement of Shaukat Khanum

Memorial Hospital or the Edhi Foundation asking for your contributions towards

cancer research or zakat. You stroll down the lifestyle store counter and pick out the

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Citibank/AHZ Grindlays Visa card membership brochure, allowing you to apply

directly for credit cards. A representative from Patient's Aid Foundation gives a talk at

your university, soliciting new memberships and volunteers for blood donations. You

receive a phone call from Holiday International asking you to participate in a survey

about the places you have visited in Pakistan. In your job as a university librarian, you

have to keep a track of the supply of books, magazines and journals, so that you keep

ordering the latest publications

All these situations involve marketing. According to the American Association,

marketing is "the process of planning and executing the conception, pricing,

promotion, and distribution of ideas, goods, and services to create exchanges that

satisfy individual and organizational goals." The broad definition takes into account all

parties involved in the marketing effort: members of the organization that produces

goods and services, resellers of those goods and services and customers or clients.

Virtually all businesses realize that marketing plays a crucial role in their success. Toappreciate and understand what the future holds for this dynamic field, it is important

to first see how marketing has evolved throughout most of the previous years. The 19th

century, classified as the 'Childhood Age', the 20th century as 'Adolescence' and the

21st century as 'Adulthood' would take - the readers through a blend of innovations and

technology management, rather than marketing. Before the Industrial Revolution, a

typical example of marketing was a farmer loading a wagon with his produce to sell in

town on market day. Thus, marketing emphasized the physical distribution function of

getting goods to customers. Since then, economic and social changes have required

organizations to revise their view of marketing in order to stimulate successful

exchanges.

19th Century: Childhood

Throughout the 19th century, Europe produced modern innovations changing the faith

of millions around the globe; France invented heliography and made the first

photographic image, while England developed stainless steel. Charles Babbage,

English inventor and mathematician, designed the difference machine to calculate

mathematical function to eight decimal places. The first steam railway line between

Liverpool and Manchester (England) was laid. Gasoline engine, the Bessemer process,

the first underground railway in London, first electrical telephone, extraction of

aluminium through electrolysis, gasoline engine motor car by Benz, and the discovery

of radium and polonium took the whole world by a storm. No one thought about, or

cared for, marketing these breakthroughs.

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20th Century: Adolescence

The 20th century saw the advent of scientific management, incorporating universal

principles of efficiency and industrial engineering. All the building blocks were

already in place: steam engines, railroads, electricity, typewriters, telegraph,

telephone, steel, gasoline and diesel engines, radio and flight. Human relations

management, covering the psychology of motivation, participation, and job

enrichment crept in making the "worker a slave" mentality disappear, Japanese style

of management, quality assurance, novel approaches to inventory control, synergies,

re-deployment of assets and strategic planning took over overnight

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THE EVOLUTION OF MARKETING

In the first part of this century, organizations found more and more ways to

automate. European and North American companies typically focused on ways to

improve the production of goods, because this is how they were able to keep a

competitive advantage. Manufacturers concentrated on producing goods, believing

the products would sell themselves; this was the production era. During this era,

producers operated in a seller's market -- one where demand for products outstrips the

supply.

Thanks to the many production improvements business had made, they became ableto produce more goods than their regular customers wanted to buy. Businesses began

operating in a buyer's market-- one in which the supply of products exceeds the

demand for them. This marketing challenge was intensified by the limitations on

spending caused by the Great Depression and World War-II. Many businesses

responded to the challenge by hiring salespeople and looking for ways to persuade

consumers and organizational buyers to purchase more of their products. The period

in which this approach was common to marketing is known as the sales era, and it

prevailed until the 1950s.

As markets continued to grow, many businesses became less satisfied with theprinciples of selling more and more. They needed a basis for focusing their efforts,

and they needed more successful strategies for attracting and keeping customers. This

led businesses to enter the marketing era, a period during which more and more

companies formed the marketing (rather than simply sales) departments, sought to

identify customer needs and desires, and adopted the marketing concept. This

concept states that an organization should seek to meet its customers' needs as it

strives to achieve its own goals. The process of researching these needs and then

planning a way to meet them can be time consuming, but it helps ensure that

organizations use their resources wisely; at organizations that have adopted the

marketing concept, marketing becomes the company's link to the customers.

In the decades that have passed since the beginning of the marketing era,

competition has intensified. Technological advances have enabled organizations to

serve much larger geographical areas, so that companies now share the local markets

along with many foreign firms. Government deregulation have increased the number

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of companies working in the industries, intensifying competition. Information

explosion has made today's buyers more sophisticated and more demanding. As a

result, more and more organizations are finding it necessary to move beyond the

marketing era to an emphasis on quality and customer value.

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TYPES OF MARKETING RESEARCH

Marketingresearch,asasub-setaspect of marketingactivities,canbe divided into

the followingparts:

Primaryresearch (also knownas field research), whichinvolvesthe

conductionand compilation ofresearch foraspecificpurpose.

Secondaryresearch (also referred to as deskresearch),initiallyconducted

for onepurpose,but oftenused to supportanotherpurpose orend goal.

Bythese definitions,anexample ofprimaryresearch would be marketresearchconducted into health foods, whichisused solelyto ascertaintheneeds/wants of

thetarget market forhealth foods.Secondaryresearchinthiscase would be

researchpertainingto health foods,butused bya firm wishingto developan

unrelated product.

Primaryresearchis oftenexpensiveto prepare,collectand interpret from datato

information. Nevertheless, whilesecondaryresearchisrelativelyinexpensive,it

oftencanbecome outdated and outmoded,giventhatitisused forapurpose other

thanthe one for whichit wasintended.Primaryresearchcanalso bebroken down

into quantitativeresearchand qualitativeresearch, which,asthetermssuggest,

pertainto numerical and non-numerical research methodsand techniques,

respectively. Theappropriateness ofeach mode ofresearch depends on whether

datacanbe quantified (quantitativeresearch), or whethersubjective,non-numeric

orabstractconceptsarerequired to bestudied (qualitativeresearch).

Therealso existadditional modes of marketingresearch, whichare:

Exploratoryresearch,pertainingto researchthatinvestigatesanassumption.

Descriptiveresearch, which,astheterm suggests, describes "whatis".

Predictiveresearch, meaningresearchconducted to predicta future occurrence.

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Conclusiveresearch, forthepurpose of derivingaconclusionviaaresearch

process.

Marketing planning

Main article: Marketing plan

Themarketing planningprocessinvolves forgingaplan fora firm's marketing

activities. A marketingplancanalso pertainto aspecificproduct,as well asto an

organization's overall marketingstrategy. Generallyspeaking,an organization's

marketingplanningprocessis derived from its overall businessstrategy. Thus, when

top managementis devisingthe firm'sstrategic direction or mission,theintended

marketingactivitiesareincorporated into thisplan. Thereareseveral levels of

marketing objectives withinan organization. Thesenior management ofa firm would

formulateageneral businessstrategy fora firm. However,thisgeneral business

strategy would beinterpreted and implemented in differentcontextsthroughoutthe

firm.

Marketing strategy

The field of marketingstrategyencompassesthestrategyinvolved inthe

management ofagivenproduct.

A given firm mayhold numerousproductsinthe marketplace,spanningnumerous

and sometimes whollyunrelated industries. Accordingly,aplanisrequired in order

to effectively managesuchproducts.Evidently,acompanyneedsto weighupand

ascertainhow to utilizeits finiteresources. Forexample,astart-upcar

manufacturing firm would face littlesuccessshould itattemptto rival Toyota, Ford,

Nissan,Chevrolet, orany other largeglobal car maker.Moreover,aproduct maybe

reachingtheend ofits life-cycle. Thus,theissue of divest, oraceasing of

production, maybe made.Eachscenario requiresaunique marketingstrategy.Listed below aresomeprominent marketingstrategy models.

Marketing specializations

Withtherapidlyemerging force ofglobalization,the distinctionbetween marketing

withina firm'shomecountryand marketing withinexternal marketsis disappearing

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very quickly. Withthisin mind, firmsneed to reorienttheir marketingstrategiesto

meetthechallenges oftheglobal marketplace,inadditionto sustainingtheir

competitiveness withinhome markets.

Buying behavior

A marketing firm mustascertainthenature ofcustomers' buyingbehaviorifitisto

marketitsproductproperly. In orderto enticeand persuadeaconsumerto buya

product, marketerstryto determinethebehavioral process ofhow agivenproduct

ispurchased. Buyingbehaviorisusuallysplitinto two primestrands, whether

sellingto theconsumer,knownasbusiness-to-consumer (B2C), orto another

business,knownasbusiness-to-business (B2B).

B2C buying behavior

This mode ofbehaviourconcernsconsumersand theirpurchase ofagiven

product. Forexample,if oneimaginesapair ofsneakers,the desire forapair of

sneakers would be followed byaninformationsearch onavailabletypes/brands.

This mayincludeperusing media outlets,but mostcommonlyconsists of

informationgathered from familyand friends. Iftheinformationsearchis

insufficient,theconsumer maysearch foralternative meansto satisfythe

need/want. Inthiscase,this may meanbuying leathershoes,sandals,etc. Thepurchase decisionisthen made,in whichtheconsumeractuallybuystheproduct.

Followingthisstage,apost-purchaseevaluationis oftenconducted,comprising

anappraisal ofthevalue/utilitybroughtbythepurchase ofthesneakers. Ifthe

value/utilityishigh,thenarepeatpurchase maybe made. Thiscould then

developinto consumer loyaltyto the firm producingthesneakers.

B2B buying behaviou

Relates to organizational/industrial buying behavior.[16]

"B2B" stands for Businessto Business. B2B marketing involves one business marketing a product or service

to another business. B2C and B2B behavior are not precise terms, as similarities

and differences exist, with some key differences listed below:

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In a straight re-buy, the fourth, fifth and sixth stages are omitted. In a modified re-

buy scenario, the fifth and sixth stages are precluded. In a new buy, all stages are

conducted.

U

se of technologies

Marketing management can also rely on various technologies within the scope of

its marketing efforts. Computer-based information systems can be employed,

aiding in better processing and storage of data. Marketing researchers can use such

systems to devise better methods of converting data into information, and for the

creation of enhanced data gathering methods. Information technology can aid in

enhancing an MKIS' software and hardware components, and improve a company's

marketing decision-making process.

In recent years, the notebook personal computer has gained significant market

share among laptops, largely due to its more user-friendly size and portability.

Information technology typically progresses at a fast rate, leading to marketing

managers being cognizant of the latest technological developments. Moreover, the

launch of smart phones into the cell phone market is commonly derived from a

demand among consumers for more technologically advanced products. A firm can

lose out to competitors should it ignore technological innovations in its industry.

Technological advancements can lessen barriers between countries and regions.Using the World Wide Web, firms can quickly dispatch information from one

country to another without much restriction. Prior to the mass usage of the Internet,

such transfers of information would have taken longer to send, especially if done

via snail mail, telex, etc.

Recently, there has been a large emphasis on data analytics. Data can be mined

from various sources such as online forms, mobile phone applications and more

recently, social media.

Services marketing

Services marketing relates to the marketing of services, as opposed to tangible

products. A service (as opposed to a good) is typically defined as follows:

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The use of it is inseparable from its purchase (i.e., a service is used and

consumed simultaneously)

It does not possess material form, and thus cannot be touched, seen, heard,

tasted, or smelled.

The use of a service is inherently subjective, meaning that several persons

experiencing a service would each experience it uniquely.

For example, a train ride can be deemed a service. If one buys a train ticket, the

use of the train is typically experienced concurrently with the purchase of the

ticket. Although the train is a physical object, one is not paying for the permanent

ownership of the tangible components of the train.

Services (compared with goods) can also be viewed as a spectrum. Not allproducts are pure goods, nor are all pure services. An example would be a

restaurant, where a waiter's service is intangible, but the food is tangible.

Online marketing

Online Marketing refers to marketing of your product or service over the internet.Online Marketing allows you to promote your products and services online at a

fraction of the cost of traditional advertising.

Online Marketing involves creation of a strategy suitable to your websiste to

promote your business online. It binds together creative and technical aspects of

the internet including design, development, advertisement and sale.

Online Marketing involves different business models. One is direct selling to

buyer, another by generating leads to websites and even a model called affiliate

marketing in which product is developed by one person and sold by another with

an arrangement for profit sharing.

Advantages and disadvantages of online marketing

Advantages of online banking

The advantages of online marketing are myriad. Chief among them is that it is

relatively inexpensive compared to other types ofmarketing, especially when

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you compare cost with the scope of the target audience. For a comparatively

reduced advertising budget, companies can now reach a far larger demographic.

Customers can shop at their own convenience, and are able to research products

and prices from the comfort of their own home, rather than having to traipse

around brick-and-mortar stores.

Owing to the very nature of the internet, marketers can measure all sorts of

statistics pertaining to the success of theironline marketing campaigns. For

example, they can track the number, length and frequency of website visits, and

which pages were visited and for how long. Information such as this is incredibly

useful in designing a marketing website and for implementing and testing

strategies to encourage customer base growth.

Disadvantage of online banking

In spite of these advantages not all businesses are online oriented because of the

following disadvantages:

You could get involved in illegal or unethical practices like spamming. Another

disadvantage is that sometime business is such that it requires a physical

demonstration and needs to be tangible to the consumer. Or you might be

targeting a consumer who is not computer savvy. Also, many customers will not

be comfortable doing online transactions with their credit card.

But Online Marketing is a hot and happening idea. Most customers browse the

Internet to find what they need before they visit a store. Out of all local business

searches, 86% of users follow up their search with a phone call or a visit to the

store. Of those, 61% end up making a purchase. Hence the importance ofOnline

Marketing.

Online marketing has become the storefront process for many of the worlds

largest companies. In this current climate of connectivity, any company without

an online presence may as well not exist. To many, it is by far the most important

part of theirmarketing strategy.

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Trends & Lessons of Marketing in 21st Century

People say marketing is as old as the Mankind. Marketing came into existence when

the first barter took place. Barter later on evolved into the art of selling. According to

some, Marketing first came into existence in 17th

century in Japan. Peter Ducker

believes that marketing was invented in 1935 in Japan by the Mitsai family who

settled in Tokyo as merchant and opened the first departmental store offering a large

assortment of products to their customers. They had only a vague idea of quality,

product category or process of marketing.

The post liberalization world has become place where there is a cut throat

competition between the organizations and only the fittest is going to survive. This

makes marketing more special & the Marketers have the tough task ahead, they will

have to work out strategies for marketing the offerings of their company to much

aware, more knowledgeable customer having so many alternative offers from thecompetitors, thus marketing strategy has today become the lifeline of any & perhaps

every business, it is the ultimate battlefield for any company to prove their endurance

in market. Eventually the companies with-planned & strategically designed

marketing strategies emerge as winners.

The following are the major trends; shifts & challenges that the marketer and

business people will need to take into consideration for formulating the Marketing

strategy.

Operational Symbiosis of Marketing with other Functions:

At the operational level after a series of clashes with production and other functions,

marketing is gradually getting integrated with other Major function that are

responsible of creating value for the customers. In the current situation, R&D,

Design, and production should work in collaboration with marketing to assess.

Customer needs and deliver products/services to satisfy the same. This simply means

that marketers will have to have a good understanding of the functioning of other

departments as well.

Be Different/be what you are:

The future will belong to those who manage uniqueness in their projects by being

different. There is no point in trying to imitate others, in the past; avenues were

limited for advancement in life. In the age of the individual, it is enough to be what

you are and bring out the best in you. In the same way, companies that are different

and innovative will be successful.

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Discount Effect:

Promotions, discounts are now known as the basic workhorse of marketing

programme. Price promotions can increase sales in only three ways: Growing the

category, switching & purchase acceleration. Price promotion can indeed benefit total

category sales through brining down prices & added visibility through displays &

other marketing activities. Consumers today seem to have a plethora of options to

buy into, amongst products and services of every kind. Choices so unlimited, that

brand need to shout high above the decibel levels of parity product advertising. Parity

distribution and 'Just-There' display and Merchandising. Price seems a key "P" to use.

Using it innovatively makes it that much more of a creative exercise to lure in the

customers. The available price to discount is the same in the hands of every

competitor in the organized segment. How you get a better "bang for the buck" is the

important issue to consider. How you spend that money to create that much, more

excitement in the heart of the consumer to loosen his purse at your outlet instead of inthe den of your competitor. Discount & offers plays a major role to attracting

customer throughout the year especially on festivals. The offers that worked well

were the offers that had the consumer drooling and itching to run out and make that

necessary and unnecessary purchase on festivals and occasions.

Profit from Complaints:

No one likes to hear complaints, but in this era of cut-throat competition effective

handing of complaints can be the life blood of any business. Complaints can be the

educators of your business. Most dissatisfied customers do not complain. Complaintsare not made because people think it is not worth the time & effort. They do not

know how or where to complain or they believe the company would be indifferent to

them so a company needs to welcome complaints as a second chance to keep a

customer. Keeping this in mind most of companies are now searching for effective

customer satisfaction performance program where they area take opinion of

customers, finding out what were the causes of the dissatisfaction, if any and what it

would take to put things right.

Plethora of Ps:

As the four Ps (Price, Place, Product, Promotion) was found inadequate to meet the

new developments in the market place, a plethora of new Ps was added to the

marketing strategy literature. Boomes and Bitner added the following "3Ps" to the

traditional "4Ps" of marketing to make them relevant especially for making of

services. There 3 Ps are

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* Participants or People

* Physical Evidence* Process

This fifth "P" People is also relevant to industrial products. Philip Kotler added the

following "2Ps" for entry into restricted markets.

In present scenario, multinational companies had to manage public opinion and local

politics to enter restricted market like China, Russia, India etc.

According to the opinion of some marketing strategist in this present era of

globalization some other'P's are also relevant, these are.

* Position* Profit

* Plan* Performance

* Pace & Passions* Patience

Customer Satisfaction to Customer Value Management:

The word value too often means cheap. It should mean satisfaction .Value shouldalways measure in terms of total benefits & total cost. Value for money is cheap but

added value is expensive. The meaning of term Value Marketing is more than the

price cutting, low margins, giving extra quantity & low budgets. Increased

international competition makes the market wider but tougher & marketers are

continuously trying for enhancing the customer value. Customer satisfaction typically

used to be monitored by the marketers and they used to take the credit when it wept

up and had to accept the blame when it went down. But the fact is that consumers

will choose that company which offers better value for their money. Providing better

value to customers is the job of the whole organization. This is a function of strategic

importance, which cannot be left in the hands of a few marketing people. This hasbeen managed by a team of cross-functional experts and monitored the top

management.

The Rise of Sports Marketing:

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With television broadcasting and savvy sports agents as allies, sport has become an

important vehicle for marketers to hawk their products. The sports marketing industry

that includes broadcasting, endorsement, sponsorship, merchandising and ideas is

growing in stature and relevance. Sport marketing is a sub-section of advertising,

assimilating the use or association of sports with brands to promote the brand. It

includes creatively using sports to promote recall, use or brand attributes, as perPitch

Group Mestimate, the annual size of sports marketing business in the country is

Rs. 900 crore. Sportspersons display attributes that people & brand would love to

stand for. Determination, humor, style and flamboyance and attributed that marketers

covet in order to establish a connect with consumers.

A Shift Towards One-On-One Marketing:

While the earlier paradigm aimed at meeting the needs of segments of consumers, the

new paradigm treats every customer as unique. The development of technology hasmade it possible to address the needs of individual customers, the day may not be

very far off when a customer wanting to buy a toilet soap may have to put his/her

hand into a scanner which will sense the skin complexion and pop out a pouch of

liquid soap that is ideally formulated to suit his/her skin.

Virtual Marketing:

Everything can be sold on the Net. With visionaries we will soon find villages

connected to computer networks. No marketer can afford to ignore this medium.

Most of the people who surf the net for fun are not computer literate.

Standard of Living to Quality of Living:

There was a time when people felt it very important to acquire a car, TV, fridge,

mobile and a washing machine for the house. A number of people may be planning to

add an air-conditioner and a PC to their house-hold items. All these add to the

physical comforts. But after getting all these people look for improvements in the

quality of their living. Spiritual pursuit, environmental protection and universal

brotherhood are things that really interest that really interest people who have

attained a standard of living.

Innovation is central to Marketing:

Innovation is more than creativity; it is the commercial realization of creativity.

Consumers like what they have but also crave change. The word "New, Improved,

Better" can influence the customer preference. Innovation is the life blood of

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Marketing. Creative ideas are valuable but the greater part is harnessing them to

profitable productive change.

Emphasis on Personal Selling:

Now personal selling is an organic part of the business fuelling not only customerrelationships but stimulating the marketing functions with feedback from the market.

Network marketing firms such as Amway, Tupperware etc. are using organized

personal selling efforts in very innovative manner.

Retailing: The new marketing Mantra:

Call it by any name; it's the last point of return for any marketer. The modern trade

calls it the last & the most vital leg of the value chain. You guessed it right; I am

talking about retailing as an arm of marketing, which is the final point of fruition for

all marketing activities. The strength and potential of the sector is evident from its

sheer size, which is pegged at a whopping Rs. 9.0 lakh crore. The modern trade

has now six types of retail formats like supermarkets, department stores, discount

stores, and convenience store, hypermarket & health / pharma chains.

Get closer to the customers:

Getting close to the consumers is no longer a management jargon but a reality and a

survival strategy in the times of tough competition. All the touch points with

customer i.e. pre purchase, during the purchase and post purchase need to becarefully handled to satisfy customer expectations.

Emancipation of Women:

Women are now gaining their rightful place in society. This is going to lead to greater

demand for products like beauty-aids, heat-and-eat stuff, healthcare and fitness for

women, which could be exploited by marketers in the new millennium. Now women

are more net-savvy than men.

E Business Center:

Education is one big business that cannot be ignored by marketers; it is not just the

primary education, but the life-long education that has become necessary for survival

in the modern ever-changing world. It is getting delivered more and more through the

net which allows the learner to plan his course at his pace and have a one-to-one

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interaction with instructors through e-mail. Eventually education will become guru

centric from the current institute-centric mode.

Soul selling:

Even with all the material comforts, people have a sense of loneliness and certainhollowness inside; this is where soul selling comes to play. There are powerful

preachers who come on the Radio, TV and Internet and appeal to your soul, of course

in return for a donation. Religion as big business and is expected to grow further in

future. If you can't be a preacher, sponsor a preacher to sell your products.

Rural Migration:

With comforts, communication and connectivity made available in the rural areas

why would anyone want to live in the congested, unhygienic and polluted big cities.

Companies selling farmhouses and plantations exploit this desire for the green rural

environment, with connectivity established through satellites; rural area will become

attractive locales for ever setting up of business organizations.

Eminent management thinker Peter Druker has once said, "Business is the creation of

its customers" but in the present business scenario creating customers in not the end

point, but more & more companies are striving for retaining them & convert them as

their advocates, marketing strategies play an important role in this regard.

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MARKETING IN THE 21ST CENTURY

The overall marketing process has notchanged in the 21

stcentury, as much as

the marketing tools now available, as well

as some of the strategies. Because of the

advances in technology and

improvements made based on extensive

research and experiments, this generation

has the opportunity to learn from the

past. Improvements have been achievedto provide more effective ways of

marketing.

Marketing in the 21st

century has many

names. It began with email marketing in

the 1990s, which still exists today. Although, telemarketing is phasing out, that

industry still exists to some degree. Word of mouth marketing continues and perhaps

acts more effectively than other forms, because we live in untrusting

times. Consumers tend to trust friends more than businesses. Mobile marketing is ahuge industry right now. SMS Marketing, Text Message Marketing, SEO, and more

seem to occupy many marketing campaigns. Social networking and marketing tools

such as Facebook, Twitter, blogging, Digg and others have provided

more opportunities for individuals to market at lower costs to higher volumes of

traffic. Linking has become a big tool, working side-by-side SEO. Many new forms

of marketing have developed based on the technology advances.

Marketing now days is more flashy, colorful, fast-paced, energetic, more witty, more

everything. Generations now want things faster. Marketing caters to these trends.

Because of the rapid expansion of global marketing, marketers are constantly catering

their behavior and marketing practices to their marketing targets. For instance,

within the United States, different targets exist. How marketers reach children is

completely different to older generations. There is gender to consider. Continuing,

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how marketers reach one geographical region, they may employ different strategies

due to cultural customs in another region.

Target markets still must be defined and strategies created in order to meet the needs

of those markets. What do you want to achieve?

Next, those ideas are formulated into marketing platforms and campaigns. How can

you achieve the what? Considering those various targets, what forms of marketing

are necessary? What tools need to be consulted?

After a given period of time, its important to ask these questions: Is it working? Is it

meeting the targets needs and wants?

A constant inventory must be kept and stepping back to re-evaluate is

essential. Unless the results are measured, it becomes impossible to see the benefits

and rewards. This process enables companies to adjust marketing techniques,

products, and services based on survey results.

Again, the marketing process, itself, has not changed in the 21st

century. Marketers

will ever be studying the trends of consumers and the social structure of

society. Designing, creating, carrying out, and then, tweaking marketing campaigns

will always be necessary. Of course, technology advances and new information,

along with lessons from the past, allow for better techniques and forms of marketing

to evolve. Overall, the 21st

century has simply improved the efficiency of marketing

and reaching targets. Technology has provided ways to reach larger groups of

individuals, while still catering to individual needs.

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MARKETING TO 21ST CENTURY

CUSTOMERS:

1. Market segmentation2.Main article: Market segmentation3. Market segmentation pertains to the

division of a market of consumers into

persons with similar needs and wants.

For instance, Kellogg's

cereals, Frosties are marketed to

children. Crunchy Nut Cornflakes are

marketed to adults. Both goods denote

two products which are marketed to twodistinct groups of persons, both with

similar needs, traits, and wants.

4. Market segmentation allows for a better allocation of a firm's finite resources. A firm

only possesses a certain amount of resources. Accordingly, it must make choices (and

incur the related costs) in servicing specific groups of consumers. In this way, the

diversified tastes of contemporary Western consumers can be served better. With

growing diversity in the tastes of modern consumers, firms are taking note of the

benefit of servicing a multiplicity of new markets.

5. Market segmentation can be defined in terms of the STPacronym,meaning Segment, Targetand Position.

Every customer wants to believe that you are talking directly to him OR her. Just

listened to a great video on YouTube by Seth Godwin who said customers dont

want E-MAIL .they wantME-MAIL. To carry that further I dont care that you

say you have Great Customer Service.I want GREAT Herb service. That means

21st Century marketing must TOUCH people and speak directly to those potential

customers.6. Every business must find a way to be seen as remarkable to the market segments

you want to do business with. To be remarkable you have to be fresh and

innovative to get noticed. You can drive down the highway all day long and never

notice these:

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but I guarantee if you drive past this: you will takenotice.how can your business stand out from the

herd?

The good news for small businesses is that today we

have marketing tools we never dreamed of back in

the 1960s or 70s through interactive websites,

company blogs, permission based E-mail marketing

tools, and of course the explosion of social media

sites. The challenge for 21st Century marketersthough is that they have to learn the new rules to use

those tools effectively.

The good news isCuttingEdge MarketingTools for the 21st Centurydo notrequire

MASSIVEcash outlays. The bad news isthey require small business owners to use

their brains. Marketing success today is in the hands of the business that is the most

innovative, creative and REALLY customer driven. For a lot of us who grew up in the

mass media marketing world of the last half of the 20th Century it means we have to

radically change how we look at the world, how we communicate with it and how we

market to our customers.

New role of marketing

John Moore at Outhouse expands our blog dialogue on Engaging Employees and

offers a wonderfully concise definition of marketing's role in the 21st century:

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...marketing might think of its task as resolving the conflicting needs and interests of

stakeholders. I suggest this because a focus on the word customer risks

oversimplifying the real challenge... And as Jennifer's comments suggest, if

marketing is limited to pleasing customers, without having either the power or

responsibility for squaring that with everyone else at the party, then it is likely towaste resources.

A role like this would certainly redefine marketing's place in the company and (if

executed successfully) enable more marketing pros to move up the ladder to C-level

positions.

Along these lines, here's the process I went through in my last full-time position:

1. Learned the unmet needs of our customers through qualitative/quantitative

research2. Created a brand position that was meaningful to both customers and employees

3. Translated the brand promise for every customer-facing department within the

organization. Presented "this is your customer," here's why we're making this brand

promise, and here's what you can do to make it happen. (BTW, employees on the

front-line were thrilled to think that they could actually make a difference in building

the brand. People like to feel part of something bigger than their own job or

department).

4. Worked with customer-facing departments to realize the brand promise. Thisincluded simplifying billing statements, rewriting customer service scripts, rewriting

billing/collection letters, producing standardized sales presentations, etc.

5. Worked with the agency to translate the brand promise into marcom tactics &

Brand ID

6. Published weekly/monthly results of ongoing, online customer survey to each

department head, which indicated how well we were delivering on the brand promise

and what improvements needed to be made

Unfortunately the product didn't work and the company was sold to a competitorbefore we could track key brand metrics (customer attraction, customer retention,

sales efficiency, etc). So although I have no tangible results to share with you, this

was a very effective process flow. For future reference, I'd also add what John

mentions in his post: work hand-in-hand with HR to align policies and hiring

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practices with the brand promise, and measure employee loyalty as well as customer

loyalty.

The good news is, no area of the business is exempt from marketing's influence

today. It's now up to marketers to step up to the plate and make it happen. Donecorrectly, marketers shouldn't run into many territorial, departmental roadblocks;

simply position yourself as someone who can help them do their jobs better. You're

bringing valuable information about customer needs, likes and dislikes. I've found no

one inclined to argue with customer data. Ditto forHR: by offering to do an

employee survey, you're making yourself a valuable ally to the HR team.

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INTERNATIONAL MARKETING RESEARCH IN THE 21ST CENTURY

Introduction

Businesses preparing to compete in the 21st century are increasingly confronted with

the task of crafting strategies that anticipate and respond to the rapid pace of change

in global markets. As a result, their information needs are changing and becoming

ever more complex and diverse. Timely, relevant information is essential to provide

an adequate basis for day-to-day decision-making as well to chart the firms path in an

increasingly fast paced, turbulent and competitive environment.

Information needs are changing in both developed and developing countries.

Established markets in industrialized countries are becoming more geographicallyintegrated as direct vertical links and information flows are established between

customers, retailers and suppliers. As a result, there is a growing need to conduct

research spanning country boundaries, in order to identify regional or global market

segments, or to examine opportunities for integrating and better co-ordinating

strategies across national boundaries. At the same time, speed in collection and

interpretation of results from multiple and geographically diverse sources become

imperative in order to anticipate market change and devise an effective response

strategy.As firms push the geographic frontiers of their operations to take advantage of

growing opportunities, they need to collect information from a broader and more

diverse range of markets. Increasingly, this entails conducting research in unfamiliar

and distant markets in the Far East, the Middle East, Latin America and Africa. This

in turn poses a number of challenges, not only in collecting accurate and reliable

information on existing behavior patterns in an expeditious and cost effective fashion,

but also in predicting response to new and unfamiliar stimuli, and interpreting the

implications for marketing strategy.

Advances in technology both facilitate and at the same time render more

complex, the collection of data on a global basis. The growth and increasing

technological sophistication of the communication infrastructure enables data

collection on a much broader and diverse geographic scale and with a rapidity

previously unthinkable. Yet, at the same time, management has to master these tools

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and understand their inherent limitations and implicit biases.

The purpose of this paper is to explore these changes in information needs and

technology and suggest the implications for conducting marketing research in the

global environment. Specifically, the paper examines the capabilities and skills

international researchers will need to acquire in order to conduct research in theincreasingly diverse and rapidly changing marketplace of the 21st century.

The Changing Global Environment

Evolution of international marketing research

To understand the research needs of the 21st century it is important to consider how

they have changed over the past four decades. In the 60s and 70s, many U.S. firms,

faced by slackening rates of growth in their domestic markets, began to venture into

international markets. Japanese and European firms with smaller domestic markets

also expanded internationally in order to broaden the geographic scope of their

operations and take advantage of potential economies of scale or to respond to

foreign competition entering their domestic markets (Douglas and Craig, 1989). In

this initial phase of international market entry, firms were mostly concerned with

collecting information to identify and assess market opportunities in other countries

to determine which markets to enter, how to position products in these markets and

how far to adapt different elements of the marketing mix to local market conditions.

At this phase of the firms expansion, the country was typically used as the unit of

analysis for the research design, for developing the sampling frame, as well as fordata collection. Due to economic, political, linguistic and cultural barriers, the

country was the focal point of entry decisions. Equally, the firms international

operations were often organized on a country-by-country basis. Marketing research

agencies were also typically national organizations, with relatively few having the

capability to conduct research on a multi-country basis. Most secondary data as well

as sampling lists were available on a national basis.

As, however, firms have expanded internationally and product markets are

becoming increasingly integrated worldwide, the key decision issues facing the firmin the 90s have changed dramatically. As a result, research and information needs

have changed and broadened. In industrialized nations such as North America,

Europe and Japan, regional market integration and the removal of barriers between

countries, the growth of a regional and global market infrastructure as well as

increased mobility of consumers have created pressures to consolidate and integrate

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marketing strategy across countries. Consequently, increased attention is focused on

conducting studies which cover multiple countries examining differences and

similarities in behavior and response patterns across countries.

At the same time, as growth in these markets slows, future market potential lies

in emerging market economies, with countries such as China and India accountingfor over one-third of the worlds population. The explosive population growth in

these countries, together with the opening up of markets in the former Soviet Union

makes entry into these markets mandatory for firms aspiring to be global leaders in

the future. In entering these markets, as in initially entering international markets,

firms need to collect information to assess potential opportunities, to determine how

to position, price, promote and distribute their products and brands, whether to

develop local variants, etc.

The heterogeneity of research contexts

In emerging markets, conditions are not only changing very rapidly, but are also

substantially different from those in industrialized countries. Not only are consumer

standards of living and purchasing power much lower, but attitudes towards foreign

products are often extremely complex, sometimes ambivalent and difficult to predict.

This coupled with the lack of a research or technological infrastructure to facilitate

the collection and analysis of data pose a considerable challenge not only in

designing research, but also in developing and implementing the collection of data.In the less developed countries of the world, notably Africa and parts of Asia,

technological advances focus on development of the basic infrastructure roads,

electricity, running water, and rudimentary transportation and distribution systems.

Such developments are essential in building the marketing infrastructure. Electricity

not only powers TV sets that carry commercials, but also is essential for the

application of computer technology and the development of more technologically

advanced communications. Further, a dependable electrical supply makes possible

retail stores with refrigeration for staples and hence the distribution of consumer

packaged goods. The developments open up new markets and dramatically change

the ways in which people live and consumer. This in turn adds to the complexity of

conducting marketing research as the range and nature of research contexts become

increasingly heterogeneous.

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The global market place in transition

Developments in mass communication technology, global and regional media such as

CNN, MTV, STAR TV, etc. create an environment where certain segments of the

population worldwide are developing a common set of expectations, familiarity with

a common set of symbols, similar preferences for products and services, and anoverall desire to improve their standard of living. Market segments such as teenagers

share common interests in clothing fashions, music, films and sports, as new trends

and related products are rapidly diffused worldwide through global media.

Increasing discretionary expenditures in industrialized markets also expands the

range of choice and the role of services in consumer choice decisions. This coupled

with the multiplicity of shopping modes available to the consumer results in

increased emphasis on examining the role of the shopping environment or context on

choice behavior. Information needs to be collected not only relating to customerpreferences and the choice process, but also situational and contextual variables,

including the interaction of choice with the shopping context, as for example, the

impact of store ambience on shopping mood.

The expansion of retailers worldwide also facilitates marketing research. As

chains expand, they incorporate their "best practices" in the new stores. They

incorporate POS scanner technology, modern merchandising practices, and product

mixes that both respond to local tastes and reflect the firm's desire for economies of

scale in buying from suppliers. The development of shopping malls, where there were

none, makes possible mall intercept interviews. Another consequence of the

development of the marketing infrastructure is the greater need for marketing

research. As retailers expand in new markets changing and integrating the marketing

infrastructure, more marketing research is needed to track these changes and guide

decision-making.

Implications for international marketing research in the 21st century

The dramatic changes in the global environment coupled with technological advances

in data collection, analysis and dissemination imply that researchers will need tobroaden their capabilities in order to design, implement and interpret research in the

21st century. As research efforts are aligned to match markets with the highest

market potential, researchers will need to develop the capabilities and skills to

conduct and design research in these environments (Barnard, 1997). New tools

incorporating the latest technology will need to be mastered and creative approaches

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to understanding behavior in differing cultural contexts developed. Ability to

interpret and integrate complex data from diverse sources and environments will also

be critical in order to provide meaningful recommendations for the firms global

marketing strategy.

Aligning research effort and capabilities with market growth potential

A first priority is to focus research effort and capabilities on markets with future

growth potential. As indicated earlier, marketing research expenditures are heavily

concentrated in the industrialized countries of North America, Europe and Japan.

This reflects the current size and attractiveness of these markets. However, the

countries with the highest growth potential are the emerging market economies in

Asia, Latin America, Eastern Europe, or countries of the former Soviet Union. Firms

who wish to succeed in the global markets of the 2lst century will need to pay greater

attention to examining markets in these regions of the world, and developing or

acquiring the capabilities to conduct research in these markets.

The stark differences between the developed and developing world are reflected in

information taken from the 1999 UN Human Development Report (see Table). The

UN categorizes 45 countries as having a high level of human development (HHD), 94

as medium (MHD), and 35 as low (LHD). The data in the table dramatically illustrate

the gulf that exists between the richest countries and the poorest. The per capita GNP

in HHD countries is more than 18 times that of MHD countries, and 87 times that of

LHD countries. Yet, over 80% of the worlds population live in countries that arecategorized as either MHD or LHD. Equally, critical for conducting marketing

research are differences in illiteracy less than 5% in HHD countries compared with

over 50% of the population in LHD countries.

Conducting research successfully in these regions requires both understanding

and sensitivity to differences in the market environment as well as an ability to deal

with the lack of a well-developed market research infrastructure. The accuracy of

results hinges in part on the respondents ability to understand the questions being

posed. Low levels of literacy in emerging markets as well as lack of familiarity withstimuli or response formats from industrialized markets create challenges. In

designing research instruments, caution needs to be exercised in directly transposing

stimuli or research formats commonly adopted in industrialized countries. Rather,

researchers need to think creatively in designing instruments that are readily

understood and unambiguously interpreted, and as far as possible, devoid of cultural

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bias. In particular, design of instruments that employ visual as well as verbal stimuli

and occur in a familiar and realistic setting rather than requiring abstract cognitive

skills will be more effective.

The absence of a well-developed market research infrastructure is also a major

hindrance to the conduct of marketing research in emerging markets.

Conducting and co-coordinating research spanning diverse environments

The increasing diversity of the sociocultural and economic environment in which

research is being conducted, implies that international marketing researchers will

need to develop the capability to conduct and co-ordinate research spanning a brand

range of environmental contexts and research questions. In essence, researchers will

need to be able to tailor research questions, and adapt research instruments and

administration procedures to different environments, as well as to interpret or

generalize results at a pan-cultural or global level.

At a first level, skills in designing multi-site studies in diverse environments will

increasingly be required. Here, although the key research questions are clearly

identified and common across sites, attention needs to be paid to how constructs are

operationalized, research instruments designed, and sampling and data collection

conducted at each site. The definition of product categories may, for example, differ

as well as brand availability, the nature of the retail environment, or more insidiously,

the socio-cultural context of consumption. Constructs or definitions used in onecontext are not necessarily appropriate in another. Research instruments, data

collection or sampling procedures may incorporate bias, requiring reformulation or

adaptation to ensure meaningful results (Craig and Douglas, 2000).

Use of a team incorporating members from different cultural backgrounds and

sites helps to strike a balance between the need for local input and adaptation to local

site conditions with the need for comparability and equivalence across sites.

Researchers from each site should participate in the early stages of research design

and in the interpretation of data and results, rather than merely acting as local

implementers of a centrally designed study. They can then provide input in the

formulation of research questions and the design of the research instrument as well as

in sampling and data collection procedures. At a higher or "supra-country" level,

skills and capabilities in designing and managing a research program which spans

multiple, diverse environments are likely to become increasingly critical. A research

program might, for example, cover a product business or industry worldwide. If the

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product business is at different stages of the product life-cycle in different regions or

market conditions differ substantially, as, for example, detergents, different types of

research or information will need to be collected

Developing and using new toolsIn addition, to developing the capabilities to conduct research spanning diverse

environments, international marketing researchers also need to create and make

imaginative and thoughtful use of new approaches to understand the changing market

place. As qualitative research techniques advance and mature, they offer increasing

promise as a means of understanding and interpreting trends in diverse cultural

contexts. Qualitative research provides insights and understanding of the

consumption and purchase context and the underlying determinants of behavior, as

well as a means of interpreting the results of quantitative research and predicting

future trends.

Qualitative research techniques offer a number of advantages in international

marketing research insofar as they are unstructured and do not entail the imposition

of the researchers prespecified conceptual model or terminology on the respondent.

As a consequence, qualitative techniques are especially helpful in probing the

contextual embedding of attitudes and behavior, providing deep understanding of

situational and contextual factors, and providing inputs into interpreting observed

differences between countries and cultures (Cooper, 1996). In addition, as qualitative

techniques are often observational or unstructured, they require minimal cognitiveskills, and are particularly suited to research in emerging markets. They can also

provide insights into underlying or hidden motivations as well as probing future

trends and scenarios.

Incorporating technological advances into research design and methodology

At the same time, international marketing researchers will need to incorporate the

latest technological developments in data collection and dissemination into the

research design. These enable researchers to dramatically reduce the time required to

collect data across geographic distances as well as substantially enhancing andenriching the type of stimuli that can be used in collecting data from international

markets. It is, however, important to recognize that use of sophisticated technological

techniques is subject to certain limitations in international markets, due either to the

development of the technological infrastructure or the technological sophistication of

respondents.

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The Internet can also be used to collect data in a more systematic fashion that is

closer in character to more traditional marketing research practice. Subject to the

availability of suitable Internet sampling frames, questionnaires can be administered

directly over the Internet. Questionnaires are sent via e-mail to respondents and the

responses are returned via e-mail. This represents a very quick and totally automatedmeans to conduct a survey over a broad geographic scope. The results are available

almost instantaneously as the responses can be checked and analyzed in real-time as

they are received. Questionnaires administered via the World Wide Web also have

the advantage that product details, picture of products, brands and the shopping

environment can be portrayed with integrated graphics and sound.

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CONCLUSION

The overall marketing process has not changed in the 21st

century, as much as the

marketing tools now available, as well as some of the strategies. Because of the

advances in technology and improvements made based on extensive research and

experiments, this generation has the opportunity to learn from the

past. Improvements have been achieved to provide more effective ways of

marketing. Marketing in the 21st

century has many names. It began with email

marketing in the 1990s, which still exists today. Although, telemarketing is

phasing out, that industry still exists to some degree. Word of mouth marketing

continues and perhaps acts more effectively than other forms, because we live in

untrusting times. Consumers tend to trust friends more than businesses. Mobile

marketing is a huge industry right now. SMS Marketing, Text Message Marketing,

SEO, and more seem to occupy many marketing campaigns. Social networking and

marketing tools such as Face book, Twitter, blogging, Digs and others have

provided more opportunities for individuals to market at lower costs to higher

volumes of traffic. Linking has become a big tool, working side-by-

side SEO. Many new forms of marketing have developed based on the technology

advances.

Marketing now days is more flashy, colorful, fast-paced, energetic, more witty,

more everything. Generations now want things faster. Marketing caters to these

trends.

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WEBLOGRAPHY & BIBLOGRAHY

1. http://www.slideshare.net/josephdeungria/v47-marketing-in-21st-century-

visual-model

2. http://21stcenturymarketing.blogspot.com/

3. http://www.managementstudyguide.com/marketing-for-21st-century.htm

4. http://www.indianmba.com/Faculty_Column/FC300/fc300.html

5. http://www.axcesscapon.com/book-information/managing-marketing-21st-

century

BOOKS REFERRED ARE:

NAME OF THE

BOOK

AUTHOR PUBLISHER

International

Marketing

Michael R.

CzinkotaIllka A.

Ronkainen

South-Western

College

International

Marketing

Philip R.

Cateora,

McGraw-

Hill/Irwin

Documents

21st century03