Mastering marketing at the global level.
Free trade areas, England’s decision to pull out of the European Union, and concerns about NAFTA are just a few of the factors that affect international business. In this continuation of The Global Consumer, Markets, and Logistics I, you’ll gain an appreciation for how global trade reacts to instability and change, as well as how global marketing differs from domestic efforts.
Companies that brand their products have various options when they sell their goods in multiple countries. You’ll examine global branding strategies and consider how multinational product lines are managed. In identifying the drivers of foreign market pricing, you’ll learn how global pricing policy is determined.
Global advertising is one of the segments of globally integrated marketing communications (GIMC) you’ll explore, as a television commercial that is successful in the U.S. won’t necessarily translate to foreign markets. Products can also get lost in translation, and you’ll look at topics related to standardization and customization, including product naming, packaging, and more. You’ll discover the organizational issues that affect global marketing including the mechanics of exporting and the role of government in promoting exports.
To implement its global plans effectively, a company’s organizational setup must empower it to successfully meet the threats and opportunities posed by the global marketing arena. You’ll explore issues such as communication and reporting structure, leveraging the competencies of subsidiaries, and determining who bears responsibility for each marketing function.
From McDonald’s opening in Moscow to the Spanish clothing line Zara making inroads in the U.S., multinational companies rely on informed entry strategies for their emerging markets. You’ll examine what goes into these strategies; determine why sustainability and global-corporate citizenship are important for forging long-term alliances; and investigate the ways global companies must consider the effects their business decisions have on a host country’s environment, social structure, and social and economic conditions.
Throughout this course, you’ll focus on core topics or themes.
- Global product policy decisions and global pricing
- Global communication strategies, logistics, and distribution
- More on global policy decisions
- Export and import management
- Planning, organization, and control of global marketing operations
- Marketing strategies for emerging markets
- Sustainable marketing in the global marketplace
Throughout this course, you’ll work on a team, participating in a simulation exercise. The simulation will see your team representing a U.S.-based consumer products company as it attempts to expand into international markets. Your goal will be to maximize profit, market share, and brand equity for your company.
In BUS 642, you’ll learn skills to help you navigate the global marketplace.
- Connect topics discussed in this class with real-life phenomena observed daily in the global business environment.
- Evaluate the relationship between international environmental concerns and related marketing mixes.
- Apply proper marketing terminology in international marketing problem-solving situations.
- Differentiate between the various approaches to domestic market expansion (e.g., domestic expansion concept, multinational concept, global concept).
- Assess the potential opportunities and risks present in international/global markets.
- Analyze economic, cultural, political, and legal factors that influence international/global marketing decisions.
- Synthesize many different sources of information and use them to make international/global marketing decisions.
- Create integrated marketing strategies in the context of international/global business.