International Marketing (SHS-MRKE03)

Course description

Globalization has unified the world and increase business possibilities. Firms can sell their products all over the world regardless of their location. This course will provide students with an overview of the international marketing process and concepts. We will review some fundamental marketing concepts and connect them to this subject. This course will also cover some fundamentals questions: Why companies should go international? Is it a benefit for them? Whatis an international product strategy? How can a company adapt its product to the new market? Should we create a new product or maintain a similar product? Finally, we will go through many activities and case studies to ease the learning process.

Course Structure

This self-paced course consists of three modules of study. This course will provide students with links, pictures, and videos.

Each module consists of:

• A short overview 
• One or more lectures
• Additional sources

Learning Objectives

Upon successful completion of this course, students will understand the concepts of international marketing. They will be able to answer the fundamentals questions: Why companies should go international? Is it a benefit for companies? How do companies adapt their products to the new market? Should we create a new product or keep the same product?

1. Able to analyze an international market and identify opportunities
2. Understand international strategy techniques
3. Understand the steps of international marketing
4. Use the required tools to identify market trends

Course Content

Topic 1 : Overview of marketing concepts and definition

Learning Objectives

This topic will cover some basic marketing concepts that will ease students understanding of the course. Also, it will help to review some fundamental marketing concepts as students undoubtedly have various backgrounds.

What you should learn from topic 1?

·       Define marketing and understand the essence of marketing. 

·       Understand marketing from consumer's and companies' points of view.

·       To be able to identify the elements of the Marketing Mix

·       To comprehend the importance of positioning and targeting while building a marketing plan

Marketing definition

According to a Harvard Professor of Business, Theodore Levitt, the purpose of all business is to "find and keep customers". The unique possibility to achieve this objective is to create a competitive advantage. In other words, marketers must convince buyers about their product value proposition, ensure that they offer to the market products or services aligning with the needs and wants of customers. The main challenge is to maintain this competitive advantage so that eventually customers will no longer consider substitute products and become loyal. This loyal behavior is exhibited by people who drive only Audi cars, buy only apple phone, brush their teeth only with Colgate, creating this blind commitment is the dream of all businesses. However, it is unlikely to occur without the support of an effective marketing program. In fact, the specific role of marketing is to assist in identifying, satisfying, and retaining customers.

There are many definitions of marketing. It is difficult to formulate a clear and unanimous definition of marketing.  However, this course provides two definitions showing the essence of marketing. According to Steve Jobs, former CEO of Apple, and worldwide recognized marketer, marketing is about values. Besides, according to Forbes a recognized global media, and focusing on business, marketing involves considering and addressing the entire customer experience. It provides the right context for people to understand the innovation, and it helps identify new partners and channels necessary to engage with customers at the right place, time, and manner.

Marketing is sharing values. Also, products (service) should add value to the daily life of your customers. This value is expressed in terms of cost, usage, and more.

Understand a market and the key roles player

Understanding the Marketplace and Customer Needs

4P's vs 4C's

Marketing Mix: 4P's of Marketing

4 C’s of Consumer-Side Marketing

A Brand

Targeting

Positioning

The Market environment

Topic 2: Introduction to international marketing

Learning Objectives

This topic will cover some fundamental international marketing concepts. Students will be introduced to international marketing, understand the advantages, and more.

 What you should learn from topic 2?

·       Define international marketing and understand when to go global.   

·       Understand the complexity of the international market and challenges.

·       Identify global market opportunities and benefit from them.

·       To comprehend the impact of globalization on the local market.

Review

Definition

Reason for internationalization

Domestic market and International market

Global uncertainty.

Cultural distance effect

Pros and cons of international marketing

Topic 3: International market research

Learning Objectives

As discussed early, one of the objectives is to reduce uncertainty and adapt to uncontrollable elements. Also, the previous sections cover some elements that characterized customers or the market as a whole. This topic will provide some effective techniques that help to collect correctly this information.   

What you should learn from topic 3:                                                                                                                      

·       Identify opportunities and threats of the international market.   

·       Identify the elements of the external and internal environment.

·       Comprehend the technique to analyze the international market.

·       Be able to take strategic decisions related to the expansion of a given decision.

Review

Data: categories and definition

Definition

Structure data Vs Unstructured data

Market research: collect secondary data

Primary sources

Secondary sources

Market research: collect primary data

Qualitative research

Quantitative research

Topic 4: International marketing strategies-Company level

Learning Objectives

This topic will provide students with expansion strategies. What students will learn from topic 4?         

·       Identify expansion strategies.   

·       Understand when and how to use the international marketing strategy

·       Be able to apply them steps by steps

·       Be able to take strategic decisions related to the expansion of a given company.

Review

Introduction

Export

Definition

Pros and cons

Strategic alliances

Joint venture

Licensing

Franchising

MANAGEMENT CONTRACT

Definition

MERGER & ACQUISITION (M&A)

Definition

Pros and cons

Direct investment

Definition

Type of FDI

Pros and cons of FDI

Topic 5: Product Strategy and common issues

Review

What is a product?

Standardization vs adaptation

Regulatory and administrative