- The course intends to make students understand the rationale behind international marketing. This understanding is crucial for an appreciation of the linkages between international marketing and international trade. The course also highlights the benefits and challenges to which international marketing exposes consumers, suppliers, competitors, and countries; and attempts to raise students’ awareness to these benefits and challenges. The course also discusses the trends and environmental factors that will drive international marketing in the future. It then describes how to identify opportunities in the external environment. It concludes by explaining the strategic efforts marketers must undertake to stay ahead of key trends
- Define marketing and discuss what it entails
- Discuss how environmental factors affect international marketing activities
- Describe the factors involved in consumer decision making in international contest
- The student should be able to segment markets and develop the profile of a target international market
- The student should be able to develop product strategies and discuss how services and nonprofit “products” differ from traditional ones
- The student should be able to develop distribution, promotion, and international pricing strategies
- The student should be able to explain the importance of Internet marketing, customer relationship marketing, and one-to-one marketing
- Theme 1. Course Introduction. An Overview of Marketing. The Marketing Environment.The term marketing definition. Reasons for studying marketing Four marketing management philosophies. Sales and market orientations
- Theme 2. Strategic Planning for Competitive Advantage. Market Entry Strategies. Ethics and Social ResponsibilityThe importance of strategic planning. Definition of the Strategic Business Units (SBUs). Strategic alternatives and a basic outline for a marketing plan. Business mission statement The sources of competitive advantage and the criteria for stating good marketing objectives. Target market strategies. The elements of the marketing mix. Explanation why implementation, evaluation, and control of the marketing plan are necessary. Techniques that help make strategic planning effective. The external environment of marketing and how it affects a firm. The social factors that affect marketing. The importance to marketing managers of current demographic trends and multiculturalism and growing ethnic markets. Explanation and discussion of the basics of foreign and domestic competition.
- Theme 3. Developing a Global Vision. Global Strategies. The World Trading Environment. Social and Cultural Considerations in International MarketingGlobal Environmental Drivers. An Introduction of International Marketing. International Trade Frameworks and Policy. The Role of Culture. The Economic Environment. The Political and Legal Environment. Global marketing and the impact of multinational firms on the world economy. The external environment facing global marketers. The various ways of entering the global marketplace. List the basic elements involved in developing a global marketing mix. How the Internet is affecting global marketing. Leadership in Global Marketing. Social and cultural factors impacting on an international marketing strategy. The cross-cultural complexities of buying behaviour in different international markets. The impact of social and cultural factors on the international marketing process. Carry out a cross-cultural analysis of specified international markets.
- Theme 4. Business Marketing. International Niche Marketing Strategies for Small- and Medium-Sized EnterprisesThe nature and types of international marketing undertaken in the SME sector. The different strategic approaches and mind sets of SMEs in international marketing. The factors affecting SME international strategic management. The characteristics of the different stages of international development of SMEs. Direct marketing and electronic commerce. How to evaluate the factors for success and failure in SME international marketing.
- Theme 5. International Communication. The Management of International Distribution and Logistics. Global distribution and logisticsThe role and fundamental challenges for marketing communications. International marketing communications strategy. The integration of communications and marketing communications tools. Developing profitable, long-term marketing relationships. Characteristics of successful international B2B marketers.
- Theme 6. International Marketing Research and Opportunity Analysis. Technology Enabled Sustainable International Marketing. Customer Relationship Marketing. Decision Support Systems and Marketing Research. Social Media and Marketing.Еhe key roles of marketing research in international marketing and the concepts and techniques to identify and evaluate opportunities internationally. Building a market profile analysis of a foreign country market. The steps involved in conducting a marketing research project The difficulties and issues that arise in developing multi-country primary research studies. The concept and purpose of a marketing decision support system. Internet on marketing research. The growing importance of scanner-based research. The concept of competitive intelligence
- Theme 7. New direction and challenge. Sum up. Review of the course. The main key points addressed in the course.The various aspects of globalization and be able to compare and contrast the alternative global strategies. The factors that determine a firm’s choice of global strategy. The challenges that firms particularly from emerging markets face in developing a global presence. The role of branding in globalization and the factors affecting global marketing management.
- Interim assessment (2 module)0.5 * Exam + 0.125 * Lectures + 0.125 * Seminars + 0.25 * Team Project
- Randazzo, G. W. (2014). Developing Successful Marketing Strategies (Vol. First edition). New York, New York [222 East 46th Street, New York, NY 10017]: Business Expert Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1055551
- Levenson, A. R. (2015). Strategic Analytics : Advancing Strategy Execution and Organizational Effectiveness. Oakland, CA: Berrett-Koehler Publishers. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=995416