BUSADMIN 5720 International Marketing
|Course Number:||BUSADMIN 5720|
|Course Name:||International Marketing|
|Course Description: ||A conceptual focus on the breadth of the international marketing management area (i.e., 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. P: A marketing course or consent of instructor.|
- Spring 2013: NO
- Summer 2013: NO
- Fall 2013: NO
- Spring 2014: YES
- Summer 2014: NO
- Fall 2014: NO
|Registration Instructions|| |
Knowledge acquired in this course can be applied to a wide variety of marketing problems in the real world. Completion of the course will not only enable you to move on to more advanced study in marketing, but also be of practical value in terms of your overall intellectual growth. You will be able to apply the concepts you have learned in each unit to personal, real-life situations.
Specific Course Learning Outcomes
After studying the course materials and taking the examinations, you will 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.
By the end of the course, you should have acquired a working knowledge of the following:
- The importance to a business firm of a global marketing strategy
- The trends shaping international trade and their effects on participating countries and firms
- The informational requirements needed for spotting emerging threats and opportunities in international markets, and the marketing research methodology useful for providing global market insight
- Cross-cultural negotiations/strategies
- Joint ventures and international corporate linkages
- Exporting and other market strategies
- How to develop marketing programs and strategies for foreign target markets
- The issues relevant to the standardization-adaptation debate
- Marketing in key global regions (for example, Japan and the Pacific Rim, the European Community, and countries involved with NAFTA)
- The interaction between marketing and the other functional areas of international business
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, socio-cultural, 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.
This unit is specifically designed for students pursuing a master’s degree. In addition to Units 1–4, Unit 5 is to be completed by graduate students. The major objective of this unit is to assist the student in developing the knowledge and the skills necessary to actually formulate and implement international marketing strategies.
Number of Exams
There are 4 exams for this course.
Number of Assignments
There are 17 assignments, a graduate case analysis and discussion postings for this course.
Number of Projects
There are 3 group projects for this course.
Unit/Chapter—Assignment: Possible Points
1-1/1—Introduction [Edit Your Profile & Confirm Your e-Mail]: 0 points
1-2/2—Environment of International Trade: 20 points
1-3/3—History and Geography: 20 points
1-4/4—Cultural Dynamics: 20 points
1-5/5—Group Case Analysis: 50 points
Exam 1: 75 points
2-6/6—Political Environment: 20 points
2-7/7—Legal Environment: 20 points
2-8/8—Marketing Research: 20 points
2-9/9— Economic Development: 20 points
2-10/10— Europe, Africa & The Middle East--Group Case Analysis 2: 50 points
Exam 2: 75 points
3-11/11— Asia Pacific Region: 20 points
3-12/12— Global Marketing Management: 20 points
3-13/13— Products and Services for Consumers: 20 points
3-14/14— Products and Services for Businesses: 20 points
3–15/15— International Marketing Channels: 20 points
Exam 3: 75 points
4-16/16—Marketing Communications & Advertising: 20 points
4-17/17—Personal Selling and Sales Management: 20 points
4-18/18—Pricing: 20 points
4-19/19—Negotiating: 0 points
4-19/Case—Group Case Analysis 3: 50 points
Exam 4: 75 points
Course Discussion: 250 points
Graduate Module 5: 100 points
Total Points: 1100