Explain various promotional tools used in international marketing communication.
The Various promotional tools for International Marketing Communication are:
Trade Fair Participation:
Participation in foreign trade fairs is one of the oldest forms of promotion of exports. Success in exports business involves long term approach to marketing. This approach rests on the basic premise of developing long term business relations with the foreign buyers.
Trade fairs provide an opportunity to the exporters to display their products to large number of buyers or their representatives who visit the fair. The participation in the foreign fair can, thus, be a very efficient tool to communicate with the market. It offers tremendous facilities to bring across the message to a large number of buyers than perhaps any other trade promotional tool.
The objectives of trade fair participation are as follows:
- To introduce the concept of the product, i.e., the basic theme of the products.
- To introduce the export firm in the foreign market.
- To introduce the brand of the product or increase the popularity of the existing brand.
- To conduct consumer research on the new product and test it in the market.
- To ensure customer loyalty.
- To look for prospective buyers.
It is generally believed that one can achieve very positive results by participating in a trade fair. But it has been observed that achieving successful results at the trade fair is not guaranteed, it requires lot of planning and handwork. To ensure successful participation is a trade fair, certain conditions need to be satisfied by the exporter. That is to say, he/she should:
- Ensure that the products selected for display are competitive and have been developed keeping in view the requirements of the buyers in that market.
- Define clearly the objectives for participation.
- Select the right fair.
- Prepare the plan for participation in advance including the financial budget.
- Take all possible steps to invite as many visitors to the fair as possible.
- Ensure effective people to handle the visitors at the stand.
- Follow up on the points/queries generated during the fair.
- Plan for repeated participation at the fair, not just once.
Point-of-Purchase Promotion (POP):
The point-of-purchase display is the silent salesman that calls the attention of customer to the product in the hope of initiating buying action. This medium is known by several names such as dealer hopes, dealer aids, dealer displays, merchandising and point-of-sale materials.
The point-of-purchase material may be classed as exterior items or interior items. Exterior items such as signs, banners, pendants, and display are utilized by the retail business like service stations.
On the other hand, interior items are found in store windows, on counters and shelves, and hanging from the ceiling or the walls and on the floor. Most of the point-of-purchase materials are temporary counter cards, dummy packages, cut outs, shelf strips and streamers. But exterior items are permanent store identification signs, clocks, thermometers, floor cabinets, calender’s and racks. The materials of which these are made may be cardboard, metal, plastic, wood, cloths, glass, etc.
The most popular point-of-purchase items are magazines and advertisement, reprints window, banners and streamers decals on windows, doors and mirrors wall posters, racks of wire metal and wood, plaques, merchandise display on counters and floors, display shopping cartons and exhibition displays.
This medium exerts a great influence in the direction of impulse purchase and replacement purchases. Buying stimulus, arises from the nearness of the customer to the actual product. Observe little field and Kirkpatrick. No other medium enjoys such a combination of time, place and atmosphere, at no other time are merchandise, money and mood, so co-operative and harmonious.
To be successful this medium must possess two characteristics. First, the effectiveness and excellence of the item itself, second it must be directed toward the individual shopper. This medium is of great use to the manufacturers, retailers and consumers. Manufacturers use this medium to help persuade retailers to stock new products, to help increase the size of retail orders, to help introduce special offers and help the retailer to trade up some of his customers.
Retailers use this medium to get the attention of the prospects and then to urge them to buy promptly then and there. Exterior items and window displays attempt to influence, even to control, sidewalk traffic by converting part of it into floor traffic by keeping passerby from passing by. Interior display try for a sale be appealing to the impulse of the buyers. Consumers get useful information about problems, solution and satisfaction.
Publicity and Public Relations:
Public relations include a variety of programs designed to improve, maintain or project a company or product image. It encompassed wide variety of communication efforts to contribute a generally favorable attitude towards the organization and its products.
Publicity is not paid for. The tool includes press conferences, speeches, annual reports, events, publications, donations for public cause and sponsorships. Sponsorship is covered here to include that part which is not paid for. For example, Pepsi paid for the sponsorship of the Independence Cup, 1997. But it generated news items in Newspaper, Radio, Television, Sports Magazines, etc.
First part is advertising and the second part is publicity. Not all trade publications. accept product publicity stories but new product editorial coverage may be an excellent way to supplement other promotional programs.
Sales literature constitutes non-personal contact to solicit a trial or purchase. The tool includes catalogue, booklets, circular letters, calender’s, leaflets, etc. For this purpose, the advertiser has to identify the customers to whom sales literature would be mailed or given personally. The materials have to be tailored to the characteristics of the target country.
In sales literature it is admissible to include technical information, such as weight, dimension, qualities, etc. Sales literature have to be modified to suit the environment of the foreign market particularly the languages and understood by the residents of the market segment.