MRKT2003 - Global Marketing (2021)

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Unit description

Discusses the global marketing environment, how global markets are identified and evaluated, and global product planning, pricing, promotion and distribution strategies. Global marketing skills are of increasing importance to marketing practitioners as the pace of globalization quickens and more and more firms choose to compete in offshore markets.

Unit content

Topic 1: Introduction to global marketing
Definition of terms; global marketing; strategic concept of marketing; stages of internationalisation; environmental controllables and uncontrollables.

Topic 2: The international economic environment
Effect on marketing strategy; IMF; BOP; trade agreements and restrictions; theory of comparative advantage; product life cycle; international trade.

Topic 3: Cultural elements of the world market environment
Culture and its elements; cultural change; innovations.

Topic 4: Political and legal dimensions internationally
Political party philosophies; the permanency of government policy; nationalism; political risk assessment; extra-territoriality of laws; host country commercial laws; arbitration; international differences in business values and ethics.

Topic 5: Regional Market Characteristics
Economic systems; customs union; free trade area; economic union.

Topic 6: Marketing information systems and international marketing research
International MIS; problems and sources of secondary data; primary data collection.

Topic 7: International product policy
Global versus adaptation; innovative products in foreign markets; the product life cycle and adaptation; the fifth P.

Topic 8: Strategy alternatives for entry and expansion into overseas markets
Licensing; ownership; strategic alliances; joint ventures.

Topic 9: Distribution - foreign market channels
Alternative channels; selection process; franchising; logistics.

Topic 10: Pricing decisions and marketing overseas
Price setting; dumping; exchange rate fluctuations; government influenced pricing; intra-company pricing strategy.

Topic 11: International promotion
Standardisation versus localisation; media planning; advertising agencies; language limitations; cultural diversity; sales personnel and personal selling abroad; sales promotion; publicity; and public relations.

Topic 12: International Market Planning and the Future of Global Marketing

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

Prescribed texts