Master in International Marketing & Sales Management International Marketing Strategy

Transcription

1 Master in International Marketing & Sales Management International Marketing Strategy Credits: Professor: Campus : 6 ECTS (compulsory) Athina Sismanidou, PhD IQS School of Management (Barcelona) OBJECTIVES The business world has been facing over the last decades considerable development challenges as a result of a changing global economy, new emerging markets and globalization. Companies are called upon to act and to identify new markets, find solutions to emerging competition, match their products and services to consumers in different countries, and finally grow in an environment of global, yet local attitudes. During this course attendants will gain exposure to the company challenge of setting up international production or sales operations and study related concepts such as: Global competitive marketing strategies Marketing and the global legal environment Culture, management styles and business systems in emerging markets How countries compete for globalization Consumer behavior across cultures Market entry and exit strategies Standardization issues in international marketing Global branding and international advertising Pricing for international markets Negotiating with international customers, partners and regulators COURSE COMPETENCES Strategic thinking: At the end of the course students will be able to know which strategic marketing adjustments are necessary in order to effectively enter international markets and how market entry strategies should be conceived and managed. More concretely students will know: how to identify high potential markets, how to study international markets and how to compete in international markets. 1

2 Creativity and innovation: students will be able to develop knowledge to provide opportunities for originality in the development of ideas in research contexts. Ethical Commitment: At the end of the course, students will become more of global citizens and will learn how to identify the economic and social impact of globalization and develop market strategies sensitive to wellbeing of the local citizens. Management of change: students will know how to design marketing strategies that match the changing competitive forces and client needs when doing business internationally. Team management: Upon completion of the course, students will know how companies are reorganized and international teams managed in order to meet the requirements of international expansion. Customer focus: Upon completion of the course students will understand how culture and management differences influence business and customer requirements and be able to adjust a product offer to match these different needs to the company s advantage. OTHER COMPETENCIES Creativity and innovation: Upon completion of this course students will be able to develop winning international product strategies through creative and innovative market strategy design after a thorough analysis of the new, international market needs. Analytical thinking: At the end of the course students will be able to analyze diverse complex business situations arising from international expansion and be able to recognize the true problems and offer adequate solutions. SYLLABUS/ CONTENT: Session 1 1- Forces affecting global marketing, e.g. multilateral trade agreements, world economic trends etc. 2- Different Global Marketing Management Orientations: ethnocentric, polycentric, regiocentric, geocentric 3- Different internationalization options and their adequacy in each case: exporting, sourcing, licensing, investment & strategic alliances 2

3 Learning objective: Introduction to global market strategies, understand the challenges of replicating a business model in different countries. Session 2 Content (to be developed over two sessions): 1- Undertaking market research for global marketing 2- Global market segmentation 3- Assessing market potential and choosing target markets (segment size, growth potential, competition, feasibility) 4- Framework for selecting target markets 5- Standardized versus differentiated global marketing Learning objective: market selection criteria and mode of entry strategies. Essential reading before class: Session 3 Learning objective: market selection criteria and mode of entry strategies. Session 4 Content (to be developed over sessions 4, 5 and 6): 1- Cross border behavioral and cultural differences with a focus on the BRIC markets 2- Brand and product decision in global marketing: local versus global products and brands, a needs-based approach 3- Packaging decisions in new markets 4- Products-Communication adaptation 5- New-product development and testing new products in an international context 6- Global marketing communication decisions: creating global advertising, global media decisions etc. Learning objective: Organizational and managerial challenges of competing in emerging markets, the appropriateness of different marketing strategies for entering and succeeding in an emerging market. Session 5 Learning objective: the complexity of multinational business, particularly the issues of brand management, international marketing and marketing strategy for succeeding in East Asia, consumer behavior in a new market, strategies to succeed in a foreign country. 3

4 Session 6 Learning objectives: understand the factors that may lead to a disappointing performance, including size, location, pricing, cultural gap, localization, product positioning and product offerings. To become aware of the importance of observing local culture and customs and the pros and cons of standardization versus localization, and standardization versus differentiation in the global expansion of a company. Session 7 Content (to be developed over sessions 7 and 8): 1- Global market entry strategies: licensing, investment and strategic alliances 2- The nature of global strategic partnerships 3- International partnerships in developing countries Learning objectives: understand the hurdles of joint ventures in developing economies Session 8 1- Global market entry strategies: licensing, investment and strategic alliances 2- The nature of global strategic partnerships 3- International partnerships in developing countries 4- Global marketing channels and Physical distribution. Working with channel intermediaries Learning objectives: understand the hurdles of joint ventures in developing economies Session 9 1- Pricing and Revenue management decisions in international markets 2- Environmental influences on pricing decisions 3- Global pricing objectives and strategies 4- Global pricing alternatives Learning objectives: Exploration of value pricing, fairness, price discrimination, brand equity, new product development, communications, and marketing strategy in a global setting. Session 10 Team presentations 4

5 Session Innovation in an international marketing context 2. Global competition and national competitive advantage Session 12 Content 1. Governmental activities oriented at internationalization. Visit Accio10, the Catalan agency for internationalization. ASSESSMENT: Course candidates will be assessed on a continuous basis, with a strong focus on class participation. Class participation will be judged on quantity and quality of interventions in class. Students will be provided numerous occasions of oral participation during each session. Grading will be on a scale from 0 to 10 where: 0-4 =fail 5-6= Pass 7-8= Good 9-10= Excellent For the team assignments, the class will be divided in small teams of 3-5 students. The final grade will be based on the following: Classroom personal and team oral participation: 30% Written class tests (individual): 15% Home assignments: 10% Team business case presentation: 15% Product launch plan (= final project): 30% BIBLIOGRAFY: Cateora, P., & Graham, J. (2005). International Marketing. Boston: McGraw-Hill/Irwin. Hill, CH.W.L. (2010). International Business: competing in the global marketplace. 8th edition. New York: McGraw-Hill/Irwin. Rosenbloom, B. (2011). Marketing Channels. 8th edition. Mason, Ohio: South-Western College Pub. 5