This course is designed to provide broad coverage of the concepts, issues, and conditions that affect the marketing of products and services on a global basis. In conjunction with universal marketing fundamentals, attention will be focused on the strategic challenges of identifying and evaluating opportunities and threats in overseas markets, developing and adapting marketing strategies in relation to specific host market needs and constraints, and coordinating these strategies on a worldwide basis. Special emphasis will be placed on the various socio-cultural environments within which the global marketer operates.
- Understand the global marketing environment.
- Understand the concepts, tools and theories that are required in order to analyze the global market.
- Be able to develop global marketing strategies and plans.
- Understand how governments and legal systems affect international business.
- Investigate the social and ethical roles of business in today’s global society.
Enrolment is now open for January, April, July, or October 2021. Please contact us for more information.
Course Name | Code: International Marketing Management | CMKT 404
Pre-requisite: CMKT 403 | Consumer Behavior
Course Fees: $775
Delivery: Virtual Instructor-Led
Platform: Zoom, Microsoft Teams, or similar
Duration: 11 weeks / 42 hours / 11 weekly sessions / 4 hours per session
This course is one of the eight required courses to obtain the International Marketing Management Diploma. more
|1||Introduction||* Use the product/market growth matrix to explain the various ways a company can expand globally|
* Describe how companies in global industries pursue competitive advantage
* Compare and contrast single-country marketing strategy with global marketing strategy (GMS)
* Identify the companies at the top of the Global 500 rankings
* Explain the stages a company goes through as its management orientation evolves from domestic and ethnocentric to global and geocentric.
* Discuss the driving and restraining forces affecting global integration today.
|2||The Global Marketing Environment||* Identify and briefly explain the major changes in the world economy that have occurred during the past few decades|
* Compare and contrast the main types of economic systems that are found in different regions of the world
* Explain the categories of economic development used by the World Bank and identify the key emerging country markets at each stage of development
* Discuss the significance of balance of payments statistics for the world’s major economies Identify the countries that are the world’s leading exporters
* Briefly explain how exchange rates impact a company’s opportunities in different parts of the world
|3||The Global Trade Environment||* Explain the role of the World Trade Organization in facilitating global trade relations among nations|
* Compare and contrast the four main categories of preferential trade agreements Explain the trade relationship dynamics among signatories of NAFTA
* Identify the four main preferential trade agreements in Latin America and the key members of each
* Identify the main preferential trade agreement in Asia
* Understand the rationale for the creation of both the European Union and the euro zone
* Describe the activities of the key regional organization in the Middle East
* Explain the issues for global marketers wishing to expand in Africa
|4||Social and Cultural Environments||* Define culture and identify the various expressions and manifestations of culture that can impact global marketing strategies|
* Compare and contrast the key aspects of high- and low-context cultures
* Identify and briefly explain the major dimensions of Hofstede’s social values typology
* Understand the importance of diffusion theory and its applicability to global marketing
* Explain the concept of environmental sensitivity and give contrasting examples of product categories that are deeply embedded in culture and those that are not
|5-6||The Political, Legal, and Regulatory Environments||* Understand the elements of a country’s political environment that can impact global marketing activities|
* Define international law and describe the main types of legal systems found in different parts of the world
* Understand the most important business issues that can lead to legal problems for global marketers
* Describe the available alternatives for conflict resolution and dispute settlement when doing business outside the home country
* In general terms, outline the regulatory environment in the European Union
|7||Global Information Systems and Market Research||* Discuss the role of information technology in a global company’s decision-making processes|
* Understand the importance of direct perception in the global marketing research process
* Explain some of the ways global marketers adapt the individual steps in the traditional market research process
* Compare the way a multinational firm organizes the marketing research effort with the way a global or transnational firm approaches the organizing issue
* Explain how information’s role as a strategic asset affects the structure of global corporations
|8||Segmentation, Targeting, and Positioning||* Identify the variables that global marketers can use to segment global markets and give an example of each|
* Explain the criteria that global marketers use to choose specific markets to target
* Understand how global marketers use a product-market grid to make targeting decisions
* Compare and contrast the three main target market strategy options
* Describe the various positioning options available to global marketers
|9||Importing, Exporting, and Sourcing||* Understand the difference between export selling and export marketing|
* Identify the stages a company goes through, and the problems it is likely to encounter, as it gains experience as an exporter
* Describe the various national policies that pertain to exports and imports
* Explain the structure of the harmonized tariff system
* Describe the various organizations that support and facilitate the export process
* Compare and contrast home-country and market-country export organization considerations
* Discuss the various payment methods that are typically used in trade financing
* Identify the factors that global marketers consider when making sourcing decisions
|10||Global Market Entry Strategies: Licensing, Investment, and Strategic Alliances||* Explain the advantages and disadvantages of using licensing as a market entry strategy|
* Compare and contrast the different forms that a company’s foreign investments can take
* Discuss the factors that contribute to the successful launch of a global strategic partnership
* Describe the special forms of cooperative strategies found in Asia
* Explain the evolution of the virtual corporation
* Use the market expansion strategies matrix to explain the strategies used by the world’s biggest global companies
|11||Brand and Product Decisions in Global Marketing||* Review the basic product concepts that underlie a successful global marketing product strategy|
* Compare and contrast local products and brands, international products and brands, and global products and brands
* Explain how Maslow’s needs hierarchy helps global marketers understand the benefits buyers sought by buyers in different parts of the world
* Outline the importance of “country of origin” as a brand element
* List the five strategic alternatives that marketers can utilize during the global product planning process
* Explain the new product continuum and compare and contrast the different types of innovation