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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

Comments? The Small Business Advancement National has recently made immense changes to the layout of its website, SBAER.UCA.EDU, as well as its Newsletter. We welcome constructive criticism, comments, and of course, all questions throughout this transition.

Contact Us Email: SBANC@UCA.EDU Phone: 1 (501) 450-5300 Mail:

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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SBANC Newsletter April 15th, 2014