Smart global companies like Amazon, Toyota, and Nike have all made major missteps when entering foreign markets. This course explores these and other strategic international marketing errors and some of the models businesses use to think through, plan for, and avoid these problems. After you complete this course, you will be able to craft excellent international marketing strategies for sophisticated investors, company executives, and managers of international marketing operations.
As nations once competed with one another, companies are now competing across the globe. Attracted by growing foreign economies and new sales opportunities, many companies have decided to provide products and services internationally in the business-to-consumer (B2C), consumer-to-consumer (C2C), business-to-business (B2B), and business-to-government (B2G) markets. Internet and digital marketing techniques are also evolving rapidly, and they have become critical strategic elements for every company's marketing department. While much is written about customer preferences in B2C and C2C markets, there is comparatively little information on the B2B and B2G markets, particularly since international buyers often have different attitudes and levels of receptivity toward products or services from foreign companies. Therefore, it is critically important to recognize and appreciate these differences and incorporate them into your marketing strategy – and then track your marketing efforts to ensure you enter the market successfully.
- Unit 1: Introduction to International Marketing
- Unit 2: International Business Cultures
- Unit 3: International Marketing Departments
- Unit 4: Market Research and Selecting International Markets
- Unit 5: Trends in International Marketing
- Unit 6: Strategies for Entering International Markets
- Unit 7: Measuring Marketing Success
- Explain why companies choose to enter foreign markets and how they decide which markets to enter;
- Assess the advantages and disadvantages of standardization and adaptation in international marketing;
- Evaluate marketing performance by choosing appropriate business thinking models based on real-world scenarios where companies have had marketing successes and failures;
- Assess the importance of customer-oriented models such as the Customer Value Chain, Customer Value Proposition Canvas, the 4Cs of marketing, and the 4Cs of marketing communications when developing product offerings for international markets;
- Explain the role of marketing research and marketing information systems in preparing an international marketing plan;
- Choose market segmentation, targeting, and positioning strategies for entering an international market;
- Analyze why companies are successful or unsuccessful when marketing in other countries by evaluating their marketing processes and strategies;
- Evaluate alternative market entry plans for entering an international market;
- Track marketing efforts through the use of different analytical and measuring tools such as return on investment (ROI), key performance indicators (KPIs), or Google Analytics;
- Identify the main elements of an integrated international marketing plan for a product, service, company, e-commerce platform, or individual; and
- Design your own marketing plan for entering an international market.