Examine the interrelated disciplines of marketing management and strategy.
Duration: 8 weeks
Marketing products and services globally is as exciting as it is complex, and requires an informed strategy that encompasses diverse cultures, languages, and international-business customs. In BUS 641, The Global Consumer, Markets, and Logistics I, you’ll examine the interrelation between all aspects of marketing, including:
- :: Analysis and forecasting of demand
- :: Product development
- :: Structure of distribution
- :: Selection of channels
- :: Promotional procedures
- :: Logistics
- :: Supply chain
- :: Fulfillment of consumer needs
Products have been traded across borders throughout recorded civilization. In centuries past, the importance of respecting trade partners’ customs was appreciated. Today, market research allows companies looking to trade overseas to learn not just global consumer customs, but preferences, needs and more. In fact, most cultural blunders in global marketing stem from inadequate marketing research. You’ll consider the steps to take in conducting global market research as well as the challenges you’ll face in the process. Economic interdependence among countries is on the rise, and you’ll analyze how U.S. foreign direct investment in multinational corporations has driven this trend. Exchange rates also affect international trade, and you’ll review international currencies as well as the role of the International Monetary Fund and the World Bank.
Learning Exercise Example
Working in a team, you’ll conduct an extensive analysis of one world region that will include cultural, financial, economic, and political environments; infrastructure; specific marketing information; and more.
Political environments, local governments, international agreements and terrorism all impact international trade. You’ll consider the role of government in promoting national interests pertaining to business activities, and you’ll examine how differences in local legal systems affect trade. Pursuing international market segments defined by factors such as lifestyle or age is critical because of wide divergence in cross-border consumer needs. You’ll understand the necessity to develop a competitive-positioning strategy for your products based on targeted segments/countries. You’ll appreciate how developments in information technology have impacted global competition and marketing strategy. Trade alliances can give rise to successful joint ventures between international companies, and you’ll explore potential advantages and disadvantages of these partnerships.
Should the U.S. participate in free trade agreements? Why or why not?
Discuss this and more in BUS 641.
Throughout this course, you’ll focus on core topics or themes. Sample topics are listed below and are subject to change based on the instructor.
- :: Globalization Imperative and Global Marketing Research
- :: Economic Environment
- :: Financial Environment
- :: Global Cultural Environment and Buying Behavior
- :: Political and Legal Environment
- :: Global Segmentation and Positioning
- :: Global Marketing Strategies
- :: Global Market Entry Strategies
Learning Outcomes: Your Top 4 Takeaways
You’ll learn specific global marketing skills in BUS 641.
- Know how to dynamically position a company in a competitive market through strategic thinking and tactical implementation.
- Identify competitors, the advantage of those competitors, and how to address competitive threats in the global marketplace.
- Analyze a firm’s competitive advantages, promote competent strategy execution and measure the effectiveness of the chosen strategy.
- Understand consumer needs and how to create products/services that meet those needs.
In BUS 641, The Global Consumer, Markets, and Logistics I, you’ll explore the challenges faced by global marketers. For more information about this course or other courses in Utica College’s online Master of Business Administration degree, request more information or call us at 315.732.2640 or toll-free 866.295.3106.
The content presented on this page is representative information for example purposes and is subject to change as course and student needs change over time.