Put the whole world at your feet.
Just as oceans and borders separate countries, language and culture differentiate nations from one another. The way a product is marketed in the U.S. may not work internationally and vice versa. Global marketing is a discipline that requires you to understand the cultural nuances of your target market in order to incorporate them into your marketing strategies.
It’s a big world out there, filled with diverse cultures, and decidedly varied preferences. In MKT 563, you’ll develop the tools needed to reach and influence the ever-changing global market. You’ll rely on analytical planning sophistication to see how global business strategies are developed for brands, product/service lines, or business units.
Using a selection of case studies, you’ll see how global firms pursue competitive advantage. You’ll explore the transition from a domestic, ethnocentric company to a global, geocentric company. Understanding the differences in the various economic systems found around the world will help you gain an appreciation for the global economic environment.
As you address culture in the trade environment, you’ll gain an appreciation for the importance of environmental sensitivity as it relates to culture. The role played by the World Trade Organization in facilitating global trade will become apparent as you see how a nation’s political environment can impact global marketing activities.
Working on a team with two or three other MKT 563 students, you’ll complete a global marketing project that consists of a literature research paper, a brand entry plan paper, or an empirical research paper.
You’ll examine the complicated process of becoming an exporter while identifying factors to consider when making sourcing and licensing decisions. You’ll come to understand global marketing information systems, marketing research, segmentation, targeting, and positioning.
Launching a brand or product in a global market is a decision based on total product concepts, “country of origin” advantages or disadvantages, an understanding of local versus global products and brands, and knowledge of the role played by e-commerce on the global stage.
In any marketing mix, price, channels, and physical distribution are vital elements. You’ll review the basic pricing concepts that underlie a successful global marketing pricing strategy as you apply the ethnocentric/polycentric/geocentric framework to pricing decisions. You’ll compare the performance of various transportation modes and grasp the influence of gray market goods on the channels of distribution.
Global public relations and advertising campaigns can differ from domestic efforts in terms of media availability, sales force nationality, and sales promotion tactics. You’ll learn those differences and you’ll see the huge influence the digital revolution has on global marketing.
As you master the strategic elements of competitive advantage, you’ll also gain a greater appreciation of the need for global social entrepreneurship and corporate social responsibility.
Discuss this and more in MKT 563.
Sample Course Topics
- Global Marketing Tasks and Theoretical Foundations
- Cultural Foundations and Country Attractiveness
- Global Modes of Entry
- Global Marketing Research and Marketing Strategy
- Global Products/Services Innovation and Branding
- Global Pricing and Distribution
- Global Advertising, Promotion and E-Commerce
- Social Entrepreneurship and Emerging Markets
What You’ll Learn
In MKT 563, you’ll focus on the managerial problems in international marketing, covering factors affecting international markets in different cultural areas of the world.
- Realize the importance of global marketing ethics and social responsibility.
- Understand fundamental issues and approaches to global marketing.
- Analyze global marketing situations and develop effective marketing plans and solutions.
- Appreciate culture and its impact on marketing and management.
- Possess both independent and cooperative work skills for the international marketing profession.
- Critically evaluate global business strategy and develop appropriate strategies.
Successfully marketing a brand internationally requires a keen understanding of global markets and the varied cultures in your audience. For more information about The University of Scranton’s online Master of Business Administration degree, request more information or call us today toll-free at (866) 373-9547.
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.