GLOBAL MARKETING STRATEGY

Syllabus

• Definitions and explanation for common terms in global marketing.
• Drivers for internationalisation and globalisation include political, technological, communications, economic, financial, market, customer, corporate and competitive factors.
• The infrastructure of trade and global marketing (WTO, GATT, Gatts, NTBs, the World Bank).
• Selection of strategic/key or lead markets using screening, segmentation and portfolio techniques.
• Market entry methods with a special focus on strategic alliances and conditions for their selection.
• Global strategy and negotiations with governments.
• From Multidomestic/multilocal to Global strategy for the marketing/service mix including advantages and disadvantages.
• Competitive strategy — collaboration and competitive strategies.
• MNCs and foreign direct investment.
• Cross cultural management — knowledge, people and technology.

Aims of the Module

• To provide knowledge of what is meant by globalisation and to distinguish it from international expansion.
• To provide knowledge of the global infrastructure (institutions) which affect overseas trade in products, services and technology.
• To provide knowledge of the “drivers” of globalisation (internal and external).
• To provide knowledge of market entry methods, and market selection techniques with specific emphasis on joint ventures and strategic alliances.
• To provide knowledge of the company’s strategy levers (market participation, location of activities, global products and services mix strategy options).
• To provide knowledge of competitive strategies including offensive and collaborative measures.
• To provide knowledge of multinationals, foreign direct investment and cross-cultural management of knowledge, people, cultures and technology.

Learning Outcomes — Knowledge

• Know what is meant by globalisation and distinguish it from international expansion.
• Be able to outline the role of world institutions governing trade and foreign direct investment.
• Understand the concepts associated with globalisation strategies and be able to comment critically on localization, glocalisation and globalisation strategies.
• Describe the main drivers of industry and corporate globalization and be able to prioritize their influence on different product/service sectors and market conditions.
• Identify the opportunities and constraints posed by the environment, corporate resources and competitors in selecting their markets and designing their marketing/service mix strategies.
• Know the criteria and selection frameworks for choosing and accessing markets.
• Depict the main challenges posed by cross cultural management of people, technology, quality and resources.
• Recognize the limitations to global marketing strategy.

Learning Outcomes — Skills

• Work co-operatively, share information and demonstrate good time management.
• Communicate in oral and written form.
• Analyze a range of marketing problems presented in case studies and devise solutions using appropriate techniques and theoretical concepts including PEST, product/market analysis, market screening techniques and the product/market.
• Collect and synthesize market information, formulate and present a market access plan and marketing strategy for a given market and product class.
• Apply the theoretical concepts to a contemporary business problem.
• Develop problem-solving ability from the designated class exercises and coursework.
• Recognize the complexity, ambiguity and turbulence of situations and that there is more than one answer to any problem.