Students will learn how to manage the challenges companies face in conducting international marketing. Students will explore various strategies to successfully manage international marketing efforts, including analysis of world markets, consumer behavior, foreign environments, and the marketing management methods required to meet the demands of the global marketplace. Global demographic trends will also be covered, along with specific demographic information on the countries we will visit this semester.
Key learning objectives include:
- Discover how marketing creates and adds customer value
- Explore various strategies to successfully manage international marketing efforts as a foundation for global marketing practice
- Learn tools for better understanding the differences between cultures and how to clearly communicate across those differences
- Be aware of current and expected demographic trends for the world as a whole and for the countries we will visit this semester
- Explore international marketing concepts, functions, and institutions
Field WorkCountry: India
Date: February 29, 2020
The field class will involve visiting three distinctly different ways that businesses market goods. First, the class will visit a bespoke tailor. We will then head to the famous Broadway market (which is on a narrow road). Students will have several hours in teams to investigate the market. During this time, students will also grab lunch. For this exercise treat the food vendors at Broadway as one market and the vendors selling all other goods as a second market.
1. What was unique about each of the three markets (tailor, food vendors, other vendors) we visited? In your own words, describe the selling proposition for each type of market and give your opinion about how different (or similar) it was to other options you observed (if you did not observe another option to the tailor, use your best judgment).
2. Understand the role of country of origin effects in consumer behavior. In other words, what commonalities did you see at the three markets that were distinctly Indian in nature?
3. Understand the interaction of global consumer trends, and demand for specific products. What parts of the buying process were universal? That is, things that were common not only to the three Indian markets, but common to the markets you observed in other countries?