This course explores the strategic implications of marketing in different contexts around the world. Understanding fundamental differences and similarities across consumers and markets sets the stage for successful adaptation/standardization of marketing strategy. Topics include: situation analysis of environmental forces across markets, cross-cultural understanding of consumption, international research and segmentation, global marketing strategy, and insights into subsistence marketplaces. It is designed to be a comprehensive course embodying lectures, class discussion, field assignments, and case studies. The course will have as its objectives to:
- Identify the environments that shape the risks and opportunities arising from economic, cultural, political, geographical, legal and regulatory, technological, ethical, financial, and competitive forces that affect international marketing activity.
- Understand how consumers think, feel, and act in different and similar ways around the world.
- Recognize the role and complexities of global research for understanding and segmenting markets.
- Analyze how aspects of marketing such as advertising, promotion, sales, distribution, product development, branding, and pricing can be effectively standardized or adapted for various market segments to create value for customers and organizations.
- Assess market potential and understand methods of market entry for a given offering in an international market.
- Gain a deeper appreciation of global geography and diverse cultures in the world, and use cultural frameworks and theories to investigate a particular socio-cultural context.
- Understand the nature of consumption and marketing within developing and subsistence marketplaces as well as the role of social and sustainable enterprise.
- All of the above objectives will be accomplished by comparing the marketing
environment of several of the countries been visited in this voyage.
Field WorkCountry: China
Date: January 31, 2019
The goal of the field class is to verify the application of the concepts learned in class in companies to be visited. For this purpose, the field portion of the course will focus on ‘Growth Strategies in the Global Marketplace.’ Students will have the opportunity to visit companies in Shanghai, such as Disney and Marriott, as well as engage in a meet and greet with a member of the Canada Business Council based in China.
1. Understand the current international trends and developments, similarities and differences, and convergences and divergences among trade systems – as related to cultural, political, religious, social, economic, and global variables and influences.
2. Understand the major struggles a company faces when expanding internationally
3. Understand the major opportunities companies are trying to pursue when expanding internationally