Bazaar
Transcript: Objective: to increase sales at Bazaar by target marketing the international student population at Veritas University more and more American students are looking past Europe and coming to Latin America to study abroad Spanish is a high-demand language in US Demographics: From all over the United States Male/Female 18-26 years old College students Live in San Jose, Costa Rica during program Psychographics: Independent Willing to try new things Want affordable, interesting keepsakes Interested in learning Spanish and meeting locals Bazaar Four Key Marketing Principles: To operate successfully and efficiently within this international target market, the following changes must be made: English (82.1%) Spanish (10.7%) Other Indo-European languages (3.8%) Other Asian or Pacific Islander languages (2.7%) Other languages (0.7%) United States of America use the Veritas campus as advertising space Economy influenced by several ethnic groups: Latino, Asian, European, African described as a "salad bowl" due to cultural diversity Freedom of Speech, Religion, etc. each region/state has its own culture "Bible Belt" vs. New York vs. California Segmentation Languages Physical Evidence The Marketing US students studying abroad at Veritas University Geography employees should be able to speak basic, conversational English Promotion create a stronger online presence with the use of Bazaar's own website and social media outlets encourage word-of-mouth marketing A touristy open-air market in downtown San Jose that sells everything from handcrafted jewelry and Pura Vida T-shirts to elaborate woodwork and Guatemalan sarongs. ex: flyers on the wall, business card in welcome bags Why the United States of America? A popular mall with over 300 different stores for clothes, household items, and restaurants. 283,332 American students studied abroad during 2011-2012 academic year (increased by 3% from previous year, 1% year before) Thank you for your time. People 's competitors Target Market tourists, visitors, international students ex: 10% off your purchase with your Veritas student ID interesting, different environment ran by friendly locals Specialization International Marketing Strategy Differentiation P Mercado Artsenal #1 world's biggest economy ($16.2 trillion GDP) 48 contiguous states, Alaska, Hawaii shares land borders with Canada and Mexico In North/West hemispheres different states --> different climates can be mountainous, flat, border with bodies of water Concentration (Costa Rica ranked #8 most popular study abroad destination by CBS News) Culture recognizable logo to improve branding (to be used in promo flyers, social web pages, etc.) ex: Joaquin Lizano to tell his students, students tell students focus all business efforts and resources on core competencies & value proposition to international student market locally-made products from Costa Rican artisans at reasonable prices San Pedro Mall offer special discounts to international students