Unit 40 International Marketing

Introduction

The aim of this unit is to introduce students to a variety of methods organisations use to coordinate their international marketing efforts. Students will critically evaluate the various challenges that organisations face when doing so. This unit will give students the knowledge and ability to work with marketing teams internationally and to study marketing at a higher level.In today’s globalised economy it is essential that marketing efforts are able to transcend international borders. To do this, marketers must gain an appreciation of the various cultural, regulatory and political issues that exist in transferring marketing strategies into different countries and the impact it can have on both consumers and the organisation.

Learning outcomes

LO1 Demonstrate an understanding of how marketing contributes to business strategies in an international context

International context:

Scope and definition of international marketing.
Rationale for why organisations are seeking to internationalise.
Key global macro and customer trends.

Contribution to meeting strategic objectives:

Marketing’s role in contributing to the business strategy in an international context.
Factors that influence internationalisation.
Setting an international marketing strategy to meet objectives.

LO2 Evaluate entry to a selection of international markets and define the key success factors

Critical evaluation of international markets:

The importance of choosing the right international market.
The international market selection process.
Opportunities and challenges when entering international markets, including ethical and legal considerations.
Risk management and contingency planning in relation to volatile international markets.
Generic international market entry strategies.
Determining key success factors of international marketing.

LO3 Investigate how elements of the marketing plan can be adapted or standardised across international markets

The marketing plan in an international context: Product adaption:

global vs local.
Pricing in international markets.
The use of new technologies that support international distribution and promotional strategies considering hardware (computerised systems, telecommunications, networks) and software (mobile computing, cloud computing, social media).
People and servicing in an international context.
Tapping into untapped markets.