Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 1

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1 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 1 Course Title: Global Marketing and Strategy, Reg#U4630 Course Catalog Description: This course lays the foundation to gaining competitive advantage in the global marketplace by providing a hands-on understanding of the competitive implications affecting global marketing strategies, as well as covers the factors that govern the decision to enter export marketing and analyzes planning, organizing, and managing an international business marketing strategy. Topics include foreign market surveys; the role of competitive intelligence; understanding trade barriers, pricing, distribution channels, and cultural differences that affect marketing strategies; and how to create a global marketing strategy. Students should leave the course with a comprehensive understanding of global competitive marketing core concepts and how global marketing strategies can affect a company's future performance. Instructor: Nance Rosen, MBA Hello! Welcome to the course. I m looking forward to working with you to meet our course objectives. Global marketing and strategy has played a significant role in the success of many large companies for decades. Of course with the Internet giving almost every company of any size worldwide access to customers and consumers, it seems that any company anywhere strives to have a presence in as many countries as possible, beyond its own borders. Of course, it s not logical for literally every company to see itself as a viable player in the global economy. For example, a small restaurant draws its clientele from the local city, town or village. That restaurant should focus its marketing efforts on local media, both conventional and online, as well as local promotions (including coupons, demonstrations and even signage) to draw customers. The use of social media, including Twitter, Facebook, Yelp, and CitySearch (and like sites in every country or region) is appropriate for companies of every size and aspiration. Producing websites that use SEO to garner organic listings on search engines (and paid listings as well) in some way creates a global audience (if not global customers) for a small, medium or large enterprise. However, the real purpose of our course is to look at the kinds of companies that have the opportunity to do significant business in the global environment. These are companies that typically start in a single home market because it has attractive local resources, such as raw material and labor and most importantly: consumers who have the appropriate purchasing power. In other countries, companies start up primarily because local resources such as inexpensive labor are prevalent, and the actual consumers are outside the home market. How companies grow to global status and why some succeed phenomenally is our area of interest. Remember, some of the great brands that are iconic in their industries each started in a local market. This includes The Coca-Cola Company, Nike, Microsoft, Disney, and even WalMart, among others. My goal is for you to understand how to plan for international marketing success and harness the decision-making criteria and skills so you can become familiar with all the critical processes of global marketing.

2 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 2 Instructor Contact Information Instructor: Nance Rosen Work Phone: (310) USA Office Location: National Blvd., Suite B, Los Angeles, CA Office Hours: We can arrange to meet before or after class A quick biography of your instructor: Nance Rosen, MBA is a former marketing executive with The Coca-Cola Company. She was the first woman director of marketing in the Fortune 500 technology sector. She is past president the of Medical Marketing Association and former host of International Business on public radio. Nance is now publisher of Pegasus Media World and the founder of DITclub.com. In 2009, her publishing firm produced a Wall Street Bestseller, Business Week bestseller and the number one sales book on Amazon. The author of Speak Up & Succeed and the Library of Success, Nance is an instructor at UCLA Extension in the Business and Management Programs. For more on Nance Rosen, visit: Instructor Expectations Welcome! I'm looking forward to working with you, getting to know your professional or education background and how you plan to use the course in your career. My goal is to be clear about my expectations for your fulfilling the course requirements and procedures. Here are a few expectations I would like you to know about as we begin this course. While you seek to learn and master the concepts and tasks in this course, some things will come easily to you and other things will be more challenging. We must understand that this is the nature of taking on a new area of expertise. To be successful, you must do your own work and take responsibility for reaching out to me when you need help. My goal is for you to find me both responsive and supportive. Your In-Class Participation Sharing Responses: Every day in class, expect to share your responses you write for the exercises, assignments and discussions (on the due dates). You will also turn in your written responses. As soon as we are up on Blackboard, the classroom can be active all week, not just on weekends. Starting on your work several days before it is do will give you more time for larger projects when you need it. I hope you will not only share your responses, but also interact with your peers and me, sharing your opinions, relevant information from things that you ve read, and examples from your experience. Your responses should include more than phrases such as "I agree with that" or "Interesting comment." The distinguishing feature of a well-done comment might include an objective and critical analysis of what you read, what you experienced; or, possibly a short synopsis of a chapter or a related assignment from another course. Your work should feature good writing, correct spelling and mechanics. We judge one another substantially by the quality, clarity and depth of our writing. Communication should be professional and if online, should use good netiquette. In the spirit of scholarly discussion, I

3 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 3 expect respectful responses indicating whether you agree or disagree with others. Make sure to stay on topic. In our learning model, the heart of active learning occurs through the discussions that help you test your ideas, reinforce what you have learned, and share resources with others in the class. When We Are On Blackboard Responses to your postings: I will be in the classroom almost every day. I will respond to questions within 36 hours, or the next time we see each other in class. Put my name in postings to me (To Nance). Do the same for responses to everyone else. No messages are private - so please expand on any topic. Feel free to call me during my office hours: Monday between 2 pm and 3 PM Pacific Time and Wednesday between 7 PM and 8 PM Pacific Time). You may send an to me, if you need to arrange a different time, or for any other reason related to our course. When You Are Confused If after reading an assignment, you do not understand what to do: please me your questions. This is much better than turning in an assignment that is not done correctly and losing points. Thank you for your thoughtful reading of the expectations; I welcome your comments. Have a great learning experience!

4 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 4 Syllabus Outline This will help you understand the organization of our course. The textbook chapters for each week/unit are directly related to that week/unit topic. We may substitute other readings and assignments so be sure to pay attention in class. Reading Associated With This Unit Unit 1 Chapter 1 & 2 Introductions Global Marketing The Global Manager Importance of Global Markets Development of Global Marketing Your Role in Global Marketing Unit 2 Chapter The Global Economy International Trade Basic Theories of World Trade Outsourcing Economic Considerations Cultural and Social Forces Definition of Culture Cultural values Language and Communication Cultural Differences Unit 3 Chapter 5 Political, Economic, Social and Regulatory Climate Risks and Opportunities Global Markets Markets and Buyers Consumer Markets Business Markets Government Markets Unit 4 Global Competitors Globalization of Competition Home Country Actions and Global Competitiveness Competitors from Emerging Markets Chapter 6 + 7

5 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 5 Global Marketing Research International Marketing Research Challenges in Planning International Research Studying the Competition Outsourcing Research Developing a Global Information System Unit 5 Chapter 8 Global Market Participation International Marketing Operations Evaluating National Markets Geographic Market Choices Country Selection Global Market Entry Strategies Exporting Foreign Production Ownership Strategies M&A and Exit Strategies Unit 6 Chapters Mid-term Global Product Strategies Product Design Packaging and Labeling Warranty and Service Policies New Product Development Global Strategies for Services, Brands, Social Marketing Marketing Services including Social Marketing Branding Trademarks and Brand Protection Unit 7 Chapter 11 Pricing for Global Markets Profit and Cost Factors Market Factors Environmental Factors Managerial Issues in Global Pricing Managing Global Distribution Channels Structure of Global Distribution System National Channels Channel Partners Global Distribution Global Logistics Global Trends in Distribution

6 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 6 Unit 8 Chapters Global Promotion Strategies Global Promotion Strategies Personal Selling Global Account Management Selling to Businesses and Governments Other Forms of Promotion Managing Global Advertising Global vs Local Global Campaigns and Media Strategy Global-Local Decisions Unit 9 Chapter 14 Organizing For Global Marketing Elements that Affect Global Marketing Organizations Types of Structures and New Trends in Global Organizations Controlling the Global Organization Unit 10 Chapters Global Marketing and Strategy Review, Case Study Unit 11 Key learnings from our course Final Project Update and Presentation

7 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 7 Course Introduction This is a course that takes its foundation in fundamental marketing principles and practices. Your prior experience or education in marketing will be extremely helpful, especially familiarity with key concepts such as the marketing mix, segmentation, basic market research, and product lifecycle. If you do not have a background in these fundamentals, you will be able to use this course to gain knowledge of them: just be prepared to do a little catching up in your free time. Most marketing concepts and jargon can be typed into a search engine of your choice where you can learn about them. Along with typical resources such as Google and Yahoo, YouTube is a great place to find videos, lectures, animation and other learning aids. Here are some things to think about as you begin our course. What products or services do you particularly like? How do you choose the brands your prefer? How do you get information about new products even new product categories? How often do you try something NEW, versus using the same products repeatedly? What geographic markets outside of your home country have you visited? What are your preconceptions of products from different countries? Do you see yourself as a global citizen and business person? What global brands do you admire? Can you impartially compare competing brands that may come from different countries? How curious are you? Learning Goals At completion of the course, the successful learner should be able to: 1. Describe the differences between domestic, international, multinational, and global marketing 2. Develop and write a plan for a global marketing strategy 3. Develop a global media plan to promote the brand 4. Select the proper distribution channels for particular items in a particular target market

8 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 8 Course Grading Policies Grading: 100 points possible for all course components Grades are assigned based on your work being responsive the task, accurate, concise and insightful. Your course calendar may say Unit or Week. If your class has 2 units in one week, read Week to mean Unit. So something that is due Week 2 would be due Unit Discussion participation: Labeled DQ1 for each week on the calendar below. Please see the Discussion-Reflection Rubric for further information on grading policies 3 points for each of 10 discussion topics, total 30 points 2. Current Events in Global Marketing: Labeled DQ2 for each week on the calendar below 1 point for each submission (one per 10 week); total of 10 points 3. Assignments: Labeled A1 for 9 weeks (every week except 6 and 11) on the calendar below 3 points for each assignment; total 27 points 4. Midterm Project Update and Presentation: Labeled MTP1 in Week 5 and due on Week 12 on the calendar below 15 points 5. Final Project Update and Presentation: Labeled FTP1 in Week 10 and due Week 11 on the calendar below 18 points Tests/Quizzes: There are no tests this course Policies About Deadlines and Late Work: Life happens and I understand that work and family emergencies occur. Remember that participation in class based on the two discussion questions each week is worth a total of 44 points of your grade. If your written work associated with the discussion questions or assignments is late but turned in during the next class, you ll receive full points. For example, work due Tuesday would be turned in on the following Thursday or work due Thursday is turned in the following Tuesday. If the work from one week is turned in two meetings after it is due, you ll lose ten percent. After that, work will no longer receive a grade. There is a 50% penalty for turning in the Midterm Presentation or Final Presentation. These are due in class on the date indicated. Please them by midnight of that class date. Late is considered 24 hours after it is due. If you will contact me before the work is late, we can try to work out something that will mesh with your schedule. However, there are no extensions for the class. All work must be turned in by the last day of class. Academic Policies Student behavior involving cheating, copying other s work, and plagiarism are not tolerated and will result in disciplinary action. Students are responsible for being familiar with the

9 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 9 information on Student Conduct in the General Information Section of the UCLA Extension Catalog or on the website at Discussion Rubric Mechanics of the Posting Participation in the Discussion Content of Posting Critical Thinking Evidenced by Posting Unsatisfactory Basic Proficient Distinguished Uses incomplete Uses complete Uses complete Uses complete sentences, is sentences and the sentences, sentences, unstructured in its posting is organization is organization is clear organization, and comprehensible. The evident, and the and thoughtful, the includes frequent or organization could posting includes no posting is consistent errors in be improved to more than one grammatically mechanics present a more mechanical error correct, and free of (grammar, spelling, coherent argument, (grammar, spelling, spelling errors. The usage) in each statement, or usage) per tone is clear and paragraph. The question. Includes 2- paragraph. The tone respectful. posting is 3 mechanical errors is clear and unreadable and grammar, spelling, respectful there is a distinct usage) per lack of tone. paragraph. The tone Provides minimal comments and information to other participants in the forum. Writes a general or superficial posting that is unrelated to the discussion at hand and/or posts no comments. Provides no evidence of agreement or disagreement with an existing discussion. is respectful. Provides comments, and some new information on a sporadic basis. Interacts with only 1-2 participants in the forum. Demonstrates a restricted understanding of the concepts, topics, and ideas as evidenced by posting information that could be derived from prior posts and/or including highly general comments. Indicates agreement or disagreement with an existing discussion but provides no justification or explanation for comments. Provides comments, discussion, questions, and new information on a fairly regular basis. Interacts with a few participants in the forum. Demonstrates an adequate understanding of the concepts, topics, and ideas as evidenced by posting superficial, or general statements in the forum. Includes a few details in the posting. Indicates agreement or disagreement with an existing discussion including a limited explanation or justification. Provides comments, discussion, and questions without a clear connection to the course material at hand. Provides comments, discussion, questions, and new information on a regular, active, and weekly basis. Shows a high degree of interaction with other participants in the forum. Demonstrates a solid understanding of the concepts, topics, and ideas as evidenced by thoughtful responses and questions that show a clear connection (are integrated) with the course material at hand. The posting shows depth, and includes many supporting details. Demonstrates a critical analysis of an existing posted idea or introduces a different interpretation to an existing concept or idea. Includes comments, discussion, and questions that have a clear connection (are integrated) with the course material at hand.

10 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 10 Project and Written Assignment Rubrics For all your written assignments including your mid-term and final projects, you will apply what you have learned. This rubric will help you assess your assignments. Coherence & Relevance Transformation Unsatisfactory Basic Proficient Distinguished One cannot discern the learner s perceptions and attitudes or what he or she learned. It is not clear how the experiences transformed the learner. Paper adequately describes the learner s perceptions, attitudes and what she or he learned; however, gaps and omissions are present. There are gaps in the learner s description of how the experiences helped transform him or her into a scholarpractitioner. Paper describes the learner s thoughts, perceptions, attitudes and what was learned; a few gaps or omissions are present. Learner adequately describes how the experiences helped transform him or her into a scholarpractitioner. Paper thoroughly describes the learner s perceptions, attitudes and what he or she learned from the project. Learner clearly describes how the experiences helped transform him or her into a scholarpractitioner. The rubrics provide a way for you and your instructor to agree on the level of performance. It provides the performance-based criteria that help to steer discussions so that they are effective and reflect on your learning experiences. PLEASE NOTE THAT ALL COURSE GRADES ARE FINAL Incompletes: The interim grade Incomplete may be assigned when a student's work is of passing quality, but a small portion of the course requirements is incomplete for good cause (e.g. illness or other serious problem). It is the student s responsibility to discuss with the instructor the possibility of receiving an I grade as opposed to a non-passing grade. The student is entitled to replace this grade by a passing grade and to receive unit credit provided they complete the remaining coursework satisfactorily, under the supervision of and in a time frame determined by the instructor in charge, but in no case later than the end of the next academic quarter. At that time, the Registrar will cause all remaining Incompletes to lapse to the grade "F". Note: Receiving an I does not entitle a student to retake all or any part of the course at a later date. Course Materials and Resources Syllabus, PDF file Required Reading Course Text: Global Marketing and Strategy, Gillespie, Jeannet, Hennessey 3 rd Edition Articles or cases will be distributed online or in class, or found online External links Discussion and Reflection Rubrics Course Calendar PDF File Welcome Letter Power Point

11 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 11 Course Calendar Unit 1 Reading Discussion Q 1 3 points Chapters1 + 2 U01DQ1 Discussion Q 2 1 point U01DQ2 Assignment 3 points Midterm 12 points Final 18 points U01A1 3 pts Assignments DUE: Next class Unit 2 Chapters How does global marketing relate to your current or future career? U02DQ1 Current event: news and why is it interesting to global marketers? U02DQ2 Read Case 2.3 Answer case question 5 U02A1 3 pts Assignments DUE: Next class What is your key learning from one of these chapters and how you would see yourself applying it? Current event: news and why is it interesting to global marketers? Read Case 4.2 Answer case question 2 Unit 3 Chapters 5 U03DQ1 U03DQ2 U03A1 3 pts Assignments DUE: Next class What is your key learning from one of these chapters and how you would see yourself applying it? Current event: news and why is it interesting to global marketers? Pick a case to read from one of this week s chapters. Choose a case question to answer Unit 4 Chapters U04DQ1 U04DQ2 U04A1 3 pts Assignments DUE: Next class What is your key learning from one of these chapters and how you would see yourself applying it? Current event: what happened in the news this weeks and why is it interesting to global marketers? Pick a case to read from one of this week s chapters. Choose a case question to answer Unit 5 Read Chapters 8 U05DQ1 U05DQ2 U05A1 3 pts Assignments Due: Next class What is your key learning from one of these chapters and how you would see yourself applying it? Current event: what happened in the news this weeks and why is it interesting to global marketers? Pick a case to read from one of this week s chapters. Choose a case question to answer Unit 6 Chapters U06DQ1 U06DQ2 MTP1 15 pts Midterm Presentation DUE: Next class What is your key learning from one of these chapters and how you would see yourself applying it? Current event: what happened in the news this weeks and why is it interesting to global marketers? Identify and describe a widely purchased product produced in your home country. Include the means-end chain (see PPT and Irish Convenience Food case). Describe 2 segments that purchase this product form/category, including each segment s emotional, cultural and other attachment to the brand. See the Irish Convenience Food case for description of targets. Unit 7 Read Chapters 11 U07DQ1 U07DQ2 U07A1 3 pts Assignments Due: Next class: What is your key learning from one of these chapters and how you would see yourself applying it? Current event: what happened in the news this weeks and why is it interesting to global marketers? Why do they buy? Create the average customer profile for each segment. Provide a name, psychosocial profile, behaviors and family/cultural situation.

12 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 12 Unit 8 Chapters U08DQ1 U08DQ2 U08A1 3 pts Assignments Due: Next class Unit 9 Assignments Due: Next class Chapters 14 What is your key learning from one of these chapters and how you would see yourself applying it? U09DQ1 What is your key learning from one of these chapters and how you would see yourself applying it? Current event: what happened in the news this weeks and why is it interesting to global marketers? U09DQ2 1 pt Current event: what happened in the news this weeks and why is it interesting to global marketers? Identify and describe a multinational branded product not currently available in your country. Describe 2 locally produced products that compete with it. U09A1 3 pts Produce a PEST analysis of the home country Unit 10 Chapters U10DQ1 U10DQ2 U10A1 3 pts Assignments Due: Next class Unit 11 Final Presentation Due: Next class For your assignment this week, use the Internet to research and produce your assignment (see U10A1). Web and other resources For your assignment this week, use the Internet to research and produce your final presentation What do you think is the greatest challenge facing a global marketer today? U10DQ1 Which part of the world would you most like to market products and why? Current event: what happened in the news this weeks and why is it interesting to global marketers? U11DQ2 Current event: what happened in the news this weeks and why is it interesting to global marketers? Produce a SWOT analysis of the 3 brands (2 local and the one multi-national). FTP1 18 pts To introduce the multi-national branded product to a lucrative segment in your home country: create the ideal marketing mix. Include one sample of marketing communications DQ = A = MTP = FTP = Discussion Question Assignments Mid-term presentation Final presentation All discussion questions, assignments, mid-term and final must be turned in with hardcopy and ed to Make sure to put the code and your LAST NAME in the subject line. Ex.: U1DQ1Rosen

13 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 13 Unit 1 Overview of The Marketing Opportunity and Challenge in a Global Environment Introduction: There is no perfect way to market every product, service or brand in a global minded company. Do YOU have to be the perfect marketer to get your product or service to consumers or customers in to new geographic markets? Lecture: There is no perfect world. Thus, there are no perfect companies. And, certainly there are no perfect marketers. There are global companies that appear to be working well in a vast array of countries, and often they are marketing in ways that are very differently from each other. For example, you may look at Nestle, Coke, Nike, Louis Vuitton, Subway, Lenovo and other successful global marketers and see a range of approaches. What you will find similar is these brands desire to learn as much as possible about the local environments before jumping in to new markets. Fred DeLuca, the founder of Subway sandwiches started out with a basic requirement for his new venture. As a new high school graduate, Fred asked a family friend to loan him $1000 ($US) as a way to get himself started on a college education in the US. Instead of a loan to pay college tuition, the friend told Fred to start a business with the money. The idea was for this business to be successful and pay for Fred s complete college education. So, the young man opened up a sandwich shop close to his college campus. Today, Subway Sandwiches has over 30,000 stores in 92 countries! Learn more about this educational and inspirational story by visiting this site: Thoughts to Help You Take Action as a Marketer Consider what you would do today if someone gave you $1000 and said invest it in a new business that will one day be a global giant. What would you need to know about your home country? What would you want to know about the countries you plan on expanding to? The textbook chapters one and two will help you frame good answers to these hard questions. References/Resources:

14 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 14 Unit 2 The Global Economy Lecture In a dramatic way that we have never seen before, the global economy has recently taken a major downturn. In part, this has happened because our countries economies are so interconnected. How did we become so interdependent? We now have the ability to communicate 24/7/365 via telecommunications, particularly the Internet. Where our citizens and brokers were once able to only invest in home country financial instruments or regional economies, most of us are now able to purchase stocks, bonds, real estate, and other financial products from nations around the world. Investing in other countries used to be the special privilege of only sophisticated investors. Now, it s common to have overseas investments in almost every portfolio. Even if you are not invested directly in the global economy, it s likely your bank is. When the rate that money in the US was lent dropped to all time lows, borrowers were eager to purchase homes with borrowed money. Some borrowers were qualified they took out mortgages on houses at a price they would be able to pay. As housing prices skyrocketed, less qualified borrowers were encouraged to take out loans, because they expected that the increase in the value of their homes would allow them to re-finance and pay back loans. All these loans were packaged together often with the unqualified borrowers sifted into the same paper pile as qualified borrowers. Investors were from many different nations were eager to get in on the US housing mortgage market. When reality hit homes stopped increasing in value and unqualified borrowers did not get the anticipated rise in equity the investors were left with a load of unpaid debts. Even the qualified borrowers were affected as their home values were negatively impacted by foreclosures in their neighborhoods. Many wound up owing a lot more than their homes were worth and many people simply walked away from their obligations. Thus, the global economy was hurt because it wasn t just US banks and lending institutions that had made these loans. Global investors had bought them. Thus, we witnessed the near complete crash of the global economy. How has this affected our local and global companies and even the wealth of our countries and the companies they tax to stay in business? Many companies run on borrowed money. They must have cash to pay suppliers and vendors, employees and other costs while waiting for their customers to pay their bills. When banks failed and those that survived became tight-fisted, companies no longer had access to the capital they needed. Many consumers lost jobs. We re all staying tuned to find out how this all comes out. Thoughts to Help You Take Action as a Marketer What do you think will happen during the next one to five years? Will there be a fast enough

15 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 15 recovery to keep most of our companies growing? Or will this new economy have a very longterm effect on economic well-being? What does that mean for consumer purchasing power? Resources/References The crisis of credit part one The crisis of credit part two The textbook is a bit dated when it comes to the global economy although the fundamentals of global economics are still correct. As you read this week, consider how important it is to stay current on news and new perspectives about the economy.

16 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 16 Unit 3 Political, Economic, Social and Regulatory Climate What Does Think Global, Go Local Really Mean? Almost every branded product or service has a home country. That is, the first place where the product was marketed, and often created. Without a doubt, the local influence: the culture, economy, purchasing and use habits, overall appeal, packaging and even the components of the product or service are greatly influenced by home rules. A product or service may be wildly successful in its home country and then find a plethora of problems as it is rolled out globally. Think about Palmolive Palmolive laundry soap is a perfect example of what goes on and what can go wrong, even when the newest geographical market is sharing a border with the home country. Smartly, Palmolive did its homework called market research when it came to taking its laundry soap branded product from the US to Mexico. In the United States, clean water is taken for granted. You turn on the tap and the water is now only ever flowing it s clean and often quite tasty. I personally love tap water in New York City. I think the water is the secret to the best tasting bagels that you can only find there. Even in rural areas, providing and regulating clean water is a basic government service, although some private companies such Culligan and Sparkletts provide some choices. In Mexico, however, there are many locations throughout the country where clean water in fact any water, is not easily available. In some locales, a truck brings in water only a few times each week. In other areas, the water is found in streams and rivers. Therefore, doing laundry is not always an easy task, because water is a fundamental element of doing the wash. Palmolive went into Mexico to observe and interview the people responsible for washing clothes. In the highest income classes, water was plentiful and washing machines are as common as they are in the US. So it was easy for Palmolive to simply change the packaging language (from English to Spanish) and market that product in a similar fashion. However, in rural areas, the wash is still being done often in the river or when water is trucked in. For those consumers, Palmolive need to develop a soap that used little water and was easy to remove from cleaned clothes. Thoughts to Help You Take Action as a Marketer Consider what product or service you use regularly. Ask yourself: To use the product or service, what ELSE has to be available to make it desirable in another country I am targeting. If the resources available are different: what would you change in order to succeed? Resources/References

17 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 17 Unit 4 - Global Competitors Lecture Resources/References Unit 5 Global Market Decision-making Lecture Resources/References Unit 6 Creating Your Own Perspective as A Global Marketer Lecture Resources/References Unit 7 Global Strategies for Products, Services, Brands, Social Marketing Resources/References Lecture Unit 8 Pricing for Global Markets Lecture Resources/References Unit 9 Global Promotion Strategies Lecture Resources/References Unit 10 Global Campaigns and Media Strategy Lecture Resources/References Unit 11 Current Trends in Global Marketing Lecture Resources/References Unit 12 What is the Future for Global Marketers? Lecture Resources/References

18 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 18 Glossary Chapter One Domestic marketing Export marketing Global competence Global marketing strategy International marketing Multidomestic strategy Multinational corporation (MNC) Definitions marketing activities aimed at a firm s domestic market marketing activities undertaken when a firm sells its products abroad and when those products are shipped from one country to another the ability to balance local market needs with the demands of global efficiency and the opportunities of global synergies a single transnational strategy for a product, service, or business that nonetheless incorporates flexibility for local adaptation marketing activities undertaken when a company becomes significantly involved in local marketing environments in foreign countries a strategy pursued by a multinational firm in which various marketing strategies are developed, each tailored to a particular local market a company that possesses extensive investments in assets abroad and operates in a number of foreign countries as though it were a local company Chapter 2 Appreciation Balance of payments (BOP) Capital account Common market Current account Customs union Depreciation Exchange rate Foreign direct an increase in value or price of a currency an accounting record of the transactions between the residents of one country and the residents of the rest of the world over a given period of time principal BOP account that records a country s international financial assets and liabilities over the BOP period a form of economic integration with all the characteristics of a customs union and in which the free flow of resources, such as labor and capital, is encouraged among member nations a principal part of the balance of payments statement that includes the key sub accounts of goods, services, and unilateral transfers two or more countries that formally sign an agreement to drop trade barriers among themselves and to establish common external barriers between member and nonmember countries a decrease in value or price of a currency the ratio that measures the value of one currency in terms of another currency foreign investments over which investors assume some if not all direct management

19 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 19 investments Free trade area Freely floating currency Goods or merchandise account Invisible exports Most favored nation (MFN) status Nontariff barriers Orderly marketing arrangement (or voluntary export restriction) Pegged currency Portfolio investments Quota Services account Soft currency Tariff Unilateral transfers control two or more countries that formally sign an agreement to drop trade barriers among themselves but to allow each member country to maintain independent trade relations with nonmember countries a currency whose exchange rate is determined by the market forces of supply and demand BOP account stating the monetary value of a country s international transactions in physical goods a country s earnings abroad from intangibles such as services, remittances, and income earned on overseas investments a guarantee in a trade agreement between countries binding signatories to extend trade benefits to each other equal to those accorded any third state nonmonetary restrictions on trade an agreement between countries in which one country agrees to limit its exports to the other a currency whose price is fixed by its government to another currency or basket of currencies investments, such as the purchase of stocks and bonds, over which investors assume no direct management control a physical limit on the amount of goods that can be imported into or, less commonly, exported from a country BOP account stating a country s international transactions in intangibles such as transportation services, consulting, royalties on intellectual property, and dividends on foreign investment a currency that attracts little global demand a tax on goods or services moving across an economic or political boundary all the transactions for which there is no quid pro quo, such as private remittances, personal gifts, philanthropic donations, and aid Chapter 3 Affective culture a culture in which speakers are allowed even expected to express emotions

20 Global Marketing and Strategy Course Syllabus Nance Rosen, MBA 20 Body language Cultural paradox Culture Culture shock Hadith Halal High context culture High trust society Individualism collectivism Koran Kosher Low context culture Low trust society Masculinity femininity Monochronic culture Neutral culture Polychronic culture Power distance Sunna Temporal orientation Uncertainty avoidance nonverbal communications, including touching, making arm and hand gestures, and keeping a proper distance between speakers a common behavioral norm in a culture that appears to contradict a prior conceptual model of that culture all human knowledge, beliefs, behavior, and institutions transmitted from one generation to another stress and tension resulting from coping with new cultural cues and expectations an authoritative collection of the sayings and reported practices of Mohammed permitted under Islamic law a culture in which communication is more implicit and the meanings of words change depending on who is speaking to whom, where that person is speaking, and under what circumstances he or she is speaking a society in which trust is extended to persons beyond the immediate family, encouraging the emergence of various voluntary organizations such as civic groups and modern corporations a measure of culture capturing the extent to which a society evaluates a person as an individual rather than as a member of group the sacred text of Islam conforming to Jewish dietary laws a culture in which communication is explicit and words tend to retain their meaning in all situations a society in which trust is extended only to immediate family members a measure of culture relating to assertiveness/modesty and competitiveness/nurturance a culture in which activities are undertaken one at a time and people respect schedules and agendas a culture that discourages a show of emotion a culture in which multitasking is common, schedules and agendas bend to the needs of people, and interruptions are common a measure of culture capturing the extent to which the less powerful members within a society accept that power is distributed unevenly a way of life prescribed for Muslims based on the practices of Mohammed and scholarly interpretations of the Koran a society s predominant time focus either on the past, the present, or the future a measure of culture relating to general worry about the future

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