International Marketing

Course Description

Many businesses today have expanded and are continuing to expand in the global arena in search of higher profits and market share. Their success depends on a large extent on their ability to apply business concepts in foreign markets. Given this trend, there has been a big demand for people who are able to apply business principles in an international setting. One of the objectives of this course is to prepare students to meet such needs. More fundamentally, the instructor seeks to give a broad understanding of international marketing. This course is designed to provide students with the necessary marketing knowledge and skills to understand and function effectively in a global environment. It seeks to familiarize them with the international marketing concepts and applications. By doing so, it is hoped that students will develop a cultural sensitivity, in addition to enhancing their analytical and creative skills.

Pre-requisites

Reasonable business background with access to a business environment.

Target Audience

Marketing professionals and business students alike.

Course Contents

Introduction to International Marketing
- Definitions of Major Concepts
- Importance of International Marketing
- Deciding Whether Or Not to Market In A Foreign Country
- Market Entry Strategies

The Economic and Physical Environment
- Population 
- Income
- Consumption 
- Competition
- Resources 
- Geography
- Economic Development
- Economic Stability
- Inflationary Pressures

The Cultural Environment
- What Is Culture?
- Culture and Consumer Behavior
- Culture and Business Practices
- Values and Attitudes
- Class Structure and Mobility
- Language
- Religion 
- Aesthetics
- The Family
- Education

The Political and Legal Environment
- Government and Political Parties
- Attitude toward Business
- Political Risks
- Major Legal Systems
- Some Major U.S. Laws That Affect International Marketing
- Some Major Foreign Laws That Affect International Marketing
- Overcoming Legal Disputes

International Marketing Research and Information
- The Need for Information
- The Marketing Information System in Operation
- The Marketing Research Process

International Product Planning
- Standardization or Customization of Products
- Product Characteristics
- The Product Life Cycle and International Trade Product Life Cycle
- New Product Development
- Product Positioning
- Special Considerations for Industrial Products
- Packaging and Labeling
- Warranties and Service

Pricing In International Markets
- Pricing Objectives
- Demand Influence on Prices Abroad
- Cost Influence on Pricing Abroad
- Effect of Competition on Overseas Pricing
- Governmental Influence on Overseas Pricing
- Intracompany Pricing
- Financing Product Purchases And Terms Of Sale
- Countertrading Goods and Services Abroad

Promotion in International Marketing
- Advertising Decisions
- Managing the Overseas Sales Force
- Sales Promotion Decisions
- Publicity and Public Relations

International Distribution
- Channels of Distribution
- Physical Distribution

Planning, Organizing, and Control of International Marketing
- Planning
- Organizing
- Control Activities