Module Description:
The central focus of this course is the examination and development of strategies for the firm competing in European and Global markets. The course examines the strategic issues arising in the management of the firms international and global marketing operations. The main sections of the module deal with issues such as the nature and significance of International Marketing in the global economy; the components of the international marketing environment and how these impact firm actions; how firms can screen and analyse opportunities which arise internationally; and how to approach the issue of entry strategy selection and management to exploit opportunities in a foreign marketplace.
As the marketing programme alters dramatically outside of the domestic sphere, managing the international marketing mix is examined in some detail as is the area of distribution channel management.
As firms of every type and sector of activity engage in international marketing, the Services firms and the Industrial products firm perspective is also introduced to broaden students understanding of the issues involved.
Module aim
The aim of this module is to develop the students understanding and appreciation of the rapidly changing global marketing environment within which business now operates.
The module aims to enable the students understanding of the interaction and complexity among the main methods of entering and competing in international markets and to develop competence in the area of implementation of international marketing plans and entry strategies.
1 Nature & Significance of International Marketing
The Evolution of a Global Economy
Alterations in the patterns of world trade, new economic alliances, the Euro, the consolidation of European trade, trade without frontiers; Ireland’s role in World Trade; the World-Wide-Web and International Marketing.
Determinants of International Trade: Economic and Financial Forces Patterns of world trade.
Trade theories of the firm in international markets. Limitations of trade theory. Trade Restrictions. Balance of Payments. International Agencies - IMF, World Bank, EMS, GATT. Economic Integration.
2 The International Marketing Environment
The Socio-Cultural Forces in International Marketing Analytical approaches to cultural factors. Characteristics and elements of culturelanguage, religion, values, communication, education. Operating in multi-cultural environments. Cultural influences on the international firm and implications for marketing strategy.
The Political and Legal Environment of International Marketing Home and host country political forces and actions. Importance of political stability. Political risk assessment. Risk reduction strategies. International Law. Conflict resolution, dispute settlement and litigation. Regulatory environment (EU & WTO).
3 Analysing International Marketing Opportunities International Market Screening and Selection
Screening international market opportunities. Market selection decision techniques. Regional market characteristics. Marketing in transitional economies less developed markets (LDC’s) and emerging markets.
International Marketing Information Systems and Market Research
Overview of Marketing Information Systems. Current issues in international research - complexity, costs, co-ordination, comparability.
Competitive Analysis & Strategies Industry analysis forces influencing competition. National and firm competitive advantage. Identifying and analysing international competitors.
4 International Marketing Strategy: Entering International Markets
Market Entry & Expansion Strategies Exporting as strategy for international market entry. Determinants of export behaviour. The export decision process. Assessing export competitiveness. Entering markets through foreign direct investment (FDI). Trends in FDI. conditions for success in FDI.
Co-operative Strategies and Global Strategic Partnerships
Nature of strategic partnerships & alliances. Key success factors. Co-operative strategies – Japan.
5 The International Marketing Programme Managing the International Marketing Mix
Product: Product design considerations. Geographic expansion & strategic alternatives available. New products in international markets. Price: Environmental influences on pricing, International pricing objectives and strategies, policy alternative. Promotion: Standardisation v.’s adaptation debate. Developing, managing and implementing international brand strategies.
The Services Firm in International Markets
Growth in services trade world-wide. Issues in the International marketing of services. Internationalising the service firm and market entry modalities for services.
The Industrial Products Firm in International Markets
Nature of industrial markets. Selling & promoting industrial products. Network perspective on internationalising business firms.
The impact of e commerce on International Marketing
The development of e commerce and its effects on international marketing. Impact of e commerce on the marketing programme and entry strategies and market modalities. Components of the electronic value chain.
Personal Selling & Negotiations
Selling in International markets, the international selling sequence. Understanding cross cultural communications, recruitment and management of an international sales force. Cross-cultural negotiations.
6 Implementing the International Marketing Programme
Managing International Distribution Channels. Nature of international channels of distribution. Structure, function and effectiveness of channels. Channels objectives and constraints – consumer, industrial and service firms. Channel innovation.
Managing International Marketing Operations
Organisation structures. Operational control of the international marketing effort. Managing the assessment of marketing performance.
Lectures, case study analysis and presentation, as well as guest lecturers will be used to develop students’ awareness and understanding of the increasing internationalisation and globalisation of markets and the challenges associated with marketing at this level. Students will be required to prepare case study materials for use in class, read prescribed journal articles and complete individual and group project work as prescribed.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 50 |
| Other Assessment(s) | 50 |