|Course Number:||BUSADMIN 5720|
|Course Name:||International Marketing (Online)|
|Course Description:||A conceptual focus on the breadth of the international marketing management area including problems, strategies and techniques, plus a survey background in such environmental factors as legal, cultural, economic, financial, and regional characteristics. The purpose is to prepare students and practicing business managers for successful operations in the world marketing environment of developing, industrial, and/or technological nations.|
NOTE: The information below is representative of the course and is subject to change. The specific details of the course will be available in the Desire2Learn course instance for the course in which a student registers.
Upon completion of this course, you should be able to
- Describe international marketing and how it differs from domestic marketing.
- Identify international organizations and agreements and explain how they affect international marketing decisions.
- Analyze economic and non-economic factors for identifying and sizing up foreign market opportunities.
- Identify sources of information needed for making international marketing decisions, and recognize the problems associated with gathering and using this information.
- Identify alternatives/schemes for segmenting the international market.
- Formulate product, price, distribution, and promotion strategies in the context of business outside the United States.
- Explain alternative ways of structuring the international organization, control procedures, and performance evaluation.
- Practice international strategic market planning.
- Examine different aspects of export trade, including procedures for exporting.
- Discuss the importance of total quality management (TQM) in international marketing.
- Discuss the importance of ethics in international marketing.
Course Organization and Assignment Descriptions
As the competition for world markets intensifies, the number of companies operating solely in domestic markets will decrease. The shift to international marketing poses both challenges and opportunities to marketers.
The purpose of mastering the information in this unit is to develop an understanding of the international marketing environment and how it affects international marketing. This unit also should help you understand the concept of global marketing.
The political and legal environment plays a significant role in international marketing. Political elements, by far, are the most pervasive and must be examined from both domestic and foreign perspectives. The major political and economic shifts in the developing world also shift the way international marketing is conducted. Emerging markets and the growing importance of multinational regional market alliances are also becoming major trends in international marketing.
Unit 2 assesses global market opportunities in terms of the benefits and problems associated with these opportunities. To compete effectively, the global marketer must scan the world, via international marketing intelligence, for information about opportunities and threats. Research information is one of the most important factors in a successful marketing strategy.
A major challenge for many multinational organizations is determining how to compete in a highly competitive market. Changes in the political, legal, economic, sociocultural, and technological environments are leading to new strategies in global competition. Global marketers are constantly faced with the challenge of formulating a coherent global product strategy aimed at satisfying consumer needs in foreign markets. Once a firm has arranged for its products to be available in a foreign market, it is important that managers who are responsible for global marketing programs understand the nature of international distribution channels. Channels of distribution are very important in international marketing--distribution systems in some markets may be the single biggest impediment to successful marketing. This unit emphasizes the importance of developing a global marketing strategy and of product planning.
Promotion is the most viable and at the same time the most culture-bound of the marketing functions. Creating a global campaign forces a company to identify a global market for the country's products.
Pricing is an active instrument used to accomplish marketing objectives. International pricing is very complicated as a result of the differences in consumer behavior across markets. Key constraints on international pricing decisions are countries and competition. In global marketing, services are becoming an increasingly important aspect of marketing activities.
Personal selling and personnel management are becoming major issues in international marketing. The biggest problem in the foreign market sales force is the cultural differences that occur, which can cause motivation and behavior to be different from that of the domestic sales force.
To compete effectively in a global market, organizations must have a vision and strategy. Leadership, excellent negotiation skills and control procedures, planning, and the ability to produce a global vision can help a firm exploit and gain tremendous global opportunities.
The main thrust of this last unit is promotion, pricing, sales management, and implementing global marketing opportunities.
Grading Criteria for Activities
|Group Case Analysis (3 @ 50 pts. each)||150 points|
|Exams (4 @ 75 pts. each)||300 points|
|Course Discussion||250 points|
|A||90% - 100%|
|B||80% - 89%|
|C||70% - 79%|
|D||60% - 69%|
|F||0% - 59%|