Globalization is reaching a level of unprecedented growth. Within the last decade, world trade in merchandise and services has grown at a rate of 140 percent. International marketing, the study of developing communications and conveying value across nations, is often aggressively pursued, and yet misunderstood. Firms are increasingly aware of the major international business blunders that too often are associated with marketing mistakes. To succeed in a world of constant changes and lightning growth development, firms need to prepare themselves thoroughly and take a proactive response in marketing across borders.
This course explores the theory and practice of marketing on a global magnitude. Special emphasis is placed on knowledge about the increasingly important big and emerging markets (BEM). The ultimate goal is to provide students with the conceptual and analytical tools that will enable them to develop effective international marketing plans with the purpose of capturing global market opportunities while also carefully avoiding the most common pitfalls in the world trade arena.
Each student who has successfully completed this class will be able to perform the following tasks:
Describe and present an overview of the international marketing process and the basic theory of global marketing
Recognize and perform analysis on the major environmental factors affecting international marketing plans of actions such as political, legal, cultural, and economic aspects of the target markets
Compare and contrast different stages of the international marketing process a company may choose to adopt
Identify the major drivers and characteristics of global consumers and learn how to undertake appropriate market positioning on specific foreign markets
Research, design, and complete an effective international marketing plan with his/her choice of products/services and region(s) of the world
Identify future possible developments and latest trends in global marketing