International Marketing Strategy

Rationale

The major economies of the world and their trading systems are becoming increasingly integrated. This 'borderless world' is centered on the interlinked economies of the Triad: Asia, Western Europe and North America. the accelerating growth in both trade and direct foreign investment reflects the increasingly international nature of both industry structures and the ownership of value-adding facilities.

The types of changes taking place in the international trading environment are constantly shaping opportunities and creating threats. Adapting to the global market place is increasingly becoming a requirement, not an option, for organisations and their management. As a consequence of the internationalisation of markets, having an awareness of the forces at work, and means of responding to them is essential for the continued success of business across all sectors.

This module is designed to promote such awareness and facilitate skills in the devlopment of international marketing strategies and the means by which domestic markets might be defended against an 'attack' from non-domestic competitors.

Aims

The aims of the module are:

To enable perticipants to acquire expertise in developing marketing strategies for countries other than their own.
To facilitate understanding and capacities to deal with international marketing situations in non-domestic markets and the impact of international competitors on the domestic market.
To develop awareness of the role of standardisation and adaption of marketing strategy as contributors to success in international markets.
To promote the increasing need to recognise and respond to the effects of globalisation and the adoption of pro-active international marketing.

Learning Objectives

On successful completion of this module participants will be able to:

Understand the changing nature of the international trading environment.
Identify the steps in the international marketing process and how organisations become involved in, and are affected by, these processes.
Recognise differences in business and social/cultural conventions which affect buyer behaviour and marketing approaches in international markets.
Analyse market opportunities and differentiate between marketing strategies appropriate to industrialised, developing and less developed economies.
Understand the structure of the international marketing process.
Interpret the major organisational changes to be made when an organisation moves from national to international to global marketing.
Evaluate the suitability of specific international market entry options.
Analyse the appropriateness of specific aspects of international produce policies.
Illustrate the important aspects of interntional marketing communications.
Interpret key success factors relative to international distribution and logistics management.
Evaluate the dimensions influencing pricing decisions for international markets.

Indicative Content

International Marketing and the International Trading environment
Introduction to international marketing
Key question in international marketing
Reasons for going international
The international marketing strategy process
The development of international trading structures
The facilitators of international trade
International Market Considerations
Similarity and differences in world markets
Social/cultural, legal, economic, political and technological factors
The 'C' factors - countries, currency, competitors
Buying behaviour in international markets
Using market research in an international context
International Marketing Planning
The international marketing planning process
The development of appropriate organisational structures for international organisations
The role of the international marketing manager
Standarisation and adaptation implications
Market Entry Strategies and Product Management
International market entry strategies
Evaluation of laternative entry strategies
Resource implications of options identified
Developing the international product policy
Managing the international product portfolio
International Marketing Communications and Logistics
The international promotional mix
The management of international advertising
Co-ordinating the advertising effort
The management of international distribution channels
Global trends in distribution
International logistics and cost implications
Pricing for International Markets
The international pricing decision
Factors affecting price in international markets
Setting international prices for competitive success
Pricing policy and the international marketing mix

Implemetation Strategy

The scheme of work developed for this module will broadly plan to progress through the identified indicative content. Directed reading will prepare delegates for the workshop sessions.

At the workshop, case studies will be used to realise the aims and objectives set for the module. This will relate to a range of organisations and international settings. Delegates will be encouraged to use their own organisational experiences to develop discussion around three main themes wihtin the module.

The case study approach will be supported and complemented with some formal inputs to deliver the main areas under consideration. Appropriate video material will be utilised to illustrate further case examples and cite aspects of relevance. Current journal and press articles will also ensure that the analysis of international marketing strategy relates to present developments in various markets and organisational contexts.

Assessment Strategy

The module will be assessed using an individual written assignment of approximately 3,000 words. This will centre upon research and analysis of a case study which requires delegates to produce a management report, based on given terms of reference. Issues relating to marketing analysis, strategic choice and implementation regarding the international context of the case study will be addressed within the report. The aim is to enhance analytical abilities in the consideration of international business and its implications for marketing strategies associated with such developments.

Reading

Nene/BPP Text	International Marketing Strategy	Included in module guide
Phillps C, Doole I & Lowe R	International Marketing strategy	Routledge 1994
Fifield P & Lewis K	International Marketing strategy	Butterworth-Heinemann 1995
Paliwoda S	International Marketing strategy	Butterworth-Heinemann 1993
Jeannet J P & Hennessey H D	Global Marketing Strategies	Houghton Mufflin 1994
Terpstra V & Sarathy R	International Marketing	Dryden 1994