International Marketing

Universidad EAFIT

Course Description

  • Course Name

    International Marketing

  • Host University

    Universidad EAFIT

  • Location

    Medellín, Colombia

  • Area of Study

    International Marketing, Marketing

  • Language Level

    Taught In English

  • Course Level Recommendations

    Lower

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Contact Hours

    48
  • Recommended U.S. Semester Credits
    3
  • Recommended U.S. Quarter Units
    4
  • Overview

    1. COURSE JUSTIFICATION:
    The study of international marketing is concerned with the strategic and operational
    aspects of marketing as a necessary business function that is constantly evolving in
    response to the changing nature of international transactions. Students will discover
    marketing issues and marketing implications from a cross-cultural perspective and will
    explore international marketing trends.
    The course will balance academic rigor with analytic frameworks of decision-making,
    based on recent developments in the field of International Marketing through: readings,
    research reports and case studies. As a result, it aims to provide students with the
    latest understanding of global issues, disciplines, competencies and necessary skills
    in making strategic marketing decisions based on a global perspective.
    Increasingly, marketing activities must be integrated at a global level. Yet, the enduring
    influence of culture requires marketers to adapt local strategies in light of cultural
    differences. International marketing takes a similar strategic approach, recognizing the
    need to address both the forces of globalization and those of localization.
    2. GENERAL OBJECTIVES OF THE COURSE
    The objective of this course is to provide students with the knowledge, abilities and
    tools to develop international marketing strategies considering the current global
    environment and their managerial implications
    3. ANALYTICAL DESCRIPTION OF CONTENTS
    I. UNDERSTANDING THE GLOBAL MARKETING ENVIRONMENT
    To integrate and address the significant impact of economic, political, legal, social and
    cultural variables and their effect on the conduct of international business and to be
    able to analyze them in terms of opportunities and inherent risks when conducting
    marketing activities.
    Specific objectives:
    - To develop leadership skills necessary to deal with the uncertainty resulting
    from constant changes in today’s global markets.
    - To identify confiscation, expropriation, nationalization, exchange controls, local
    content laws, tax control, among others as imminent risks in the international
    context and the measures to minimize them.
    - To identify economic variables that may influence a market selection or a
    marketing strategy in an international market.
    - To recognize social and cultural differences in various global regions and their
    effect on consumer’s contextual experiences.
    - To integrate concepts of innovative studies and tools for marketers in the field
    of psychological behavior such us neuromarketing, ethnography and sensory
    marketing.
    Teaching-learning strate
    about making the ethically and morally correct choices in relation to the marketing
    strategies.
    - To identify practices like bribery, gifts, favors, entertainment, wining and dining,
    predatory pricing, product safety, polluting the environment, unsafe working
    conditions, intellectual property, misleading advertisements, deceptive displays
    among others as frequent marketing problems related to ethics.
    - To integrate the responsible consumption concept, environmental responsibility
    and social based institutions with international marketing efforts.
    Teaching-learning strategies: Professor lecture, class discussion, student readings,
    and case studies.
    II. ANALYZING GLOBAL OPPORTUNITIES
    To understand that international market research could be used to identify and define
    marketing opportunities and problems, to evaluate marketing actions, to monitor
    marketing performance and competition.
    Specific objectives:
    - To discover primary and secondary sources of information in the international
    context.
    - To define tools for collecting qualitative data such as observation, mystery
    shopping, focus groups and projective techniques among others.
    - To identify tools for collecting quantitative data, such us as surveys to evaluate
    potential in international markets.
    - To develop a practical case using observation tools and conducting a real focus
    group with specific topics of interest.
    Teaching-learning strategies: Professor lectures, class discussion, student readings,
    and case studies.
    Bibliography: Gillespie / Hennessey. Chapters 5, 6, 7.
    III. SITE SELECTION
    To understand that when a company is expanding its business operations to overseas
    markets a number of strategic decisions must be taken. The company must define the
    product it wants to market (what), the country market it wants to enter (where), the
    timing of entry (when) and the entry mode it wants to use (how). The purpose of this
    unit is to conduct a simulation of a market selection decision, the country market it
    wants to enter (where), with the help of a practical method.
    Specific objectives:
    - To integrate the concept of Site Selection into a practical case using a
    multicriteria decision method.
    Teaching-learning strategies: professor lecture, class discussion, student readings,
    complementary readings and a case study.
    Bibliography:
    Additional reading: Country Market Selection In International Expansion Using
    Multicriteria Decision Aiding Methods. Górecka Dorota, Szałucka Małgorzata.
    Multiplecriteria Decision Making. vol. 8. 2013.
    IV. GLOBAL PRODUCT ADAPTATION VS STANDARDIZATION, 7 P`S AND
    MARKETING SERVICES AND BRANDING ARCHITECTURE
    STRATEGIES.
    To develop a deeper understanding about what is involved in making international
    marketing decisions, including product, services, branding, and innovation concepts
    as part of the marketing mix.
    Specific objective:
    - To recognize product attributes, quality, design, warranty, packaging and
    labeling as some of the aspects to be analyzed for standardization or adaptation
    when entering in new markets.
    - To integrate the concept and importance of international Services and the
    extended marketing mix: 7 P´s.
    - To explore the concept of customer service in the international context.
    - To understand the concept of branding architecture when entering new markets.
    - To define Innovation and its application in international marketing.
    Teaching-learning strategies: professor lecture, class discussion, student readings,
    complementary readings and case studies.
    Bibliography: Gillespie / Hennessey. Chapters 10, 11
    V. PRICING FOR INTERNATIONAL AND GLOBAL MARKETS
    To identify the different strategies to set global prices.
    Specific objective:
    - To understand when to use market by market pricing or uniform pricing.
    - To define pricing strategies used in the international context such us pricing by
    skimming strategy, penetration strategy, neutral strategy and life cycle, costbased
    pricing, demand-oriented pricing, competitive-oriented pricing, and
    target-return pricing.
    - To identify best options to deal with international price escalations and
    competition.
    Teaching-learning strategies: Professor lectures, class discussion, student readings,
    and case studies.
    Bibliography: Gillespie / Hennessey. Chapter 12
    VI. MANAGING GLOBAL DISTRIBUTION CHANNELS
    To identify the existence of international channels and the importance of their selection
    when entering new markets.
    Specific objective:
    - To understand the nature of channels in different markets.
    - To identify factors affecting international channel development.
    - To define retailing and online retailing and its importance in marketing.
    - To introduce trade marketing and merchandising practices as part of the
    distribution strategy.
    - To define the omnichannel strategy.
    Teaching-learning strategies: professor lectures, class discussion, student readings,
    and case studies.
    Bibliography: Gillespie / Hennessey. Chapter 13
    VII. GLOBAL PROMOTION STRATEGIES, INTRODUCTION TO DIGITAL
    MARKETING AND NEW TRENDS
    To understand opportunities, limitations and new tendencies in global promotion
    efforts.
    Specific objective:
    - To define opportunities and challenges when using traditional promotion
    strategies such us personal selling, publicity and advertising in the international
    context.
    - To understand foreign regulations that restricts the use of advertising.
    - To introduce social networks, blogs, and other new technologies as platforms
    for global promotion.
    - To present new marketing tendencies.
    Teaching-learning strategies: Professor lecture, class discussion, student readings,
    and case studies.
    Bibliography: Gillespie / Hennessey. Chapters 14-15
    4. ASSESSMENTS
    This course is based on a combination of lectures, discussions, case studies, videos,
    outside speakers and country snapshots.
    You will be asked individually, and as a member of a team to provide material for inclass
    discussions, relevant global marketing articles, written analysis, oral
    presentations and written evaluations.
    Activities are designed to develop students’ ability to summarize major issues, apply
    the concepts, evaluate and provide reasonable solutions in an international business
    situation.

    Research Report 5%

    Cases 30%

    Follow-up 15%

    Midterm exam 20%

    Final exam 30%