A. Identify and understand the various cultural and regional variables (and their degree of impact) and how they impact businesses in the short-term and long-term future; what companies can do to utilise these variables and mitigate their impact.
B. Understand the nuances of cross-cultural and cross-border activities such as advertising, pricing, supply chain management, market entry, branding and customization etc.
C. Anticipate changes in the operating environment of a business on a global level.
D. Read, understand, relate and be able to utilise/implement the ideas of great thinkers and researchers in the field of global marketing.
At the end of the course, students should be able to:
Unit I (2 Weeks)
Introduction; Reasons behind international expansion; Historical Transnational trade; types of MNCs; Stages of International Exposure; Marketing across cultures and countries, Using Social Media tools.
References:
Cateora, Philip R. & Graham, John L.: International Marketing, Tata McGraw Hill. | Chapters 1, 2 and 12
Joshi, Rakesh Mohan: International Marketing, Oxford University Press. | Chapters 1, 2, 7 and 21
Unit II (3 Weeks)
National-level variables, regional trading blocs; Physical variables, Geographic distance, Grouping of industries in specific areas/regions, Environment specific impacts, Distribution of Natural Resources; Cultural Variables, Impact on doing business (Institutions, Distance, Power, Decision Making, People Management, Delegation, Corruption, Quality Benchmarks Etc.), Gender biases, Festivals, Buying Behaviour, interaction with social and governmental institutions, cultivating suppliers and retail channels; PESTEL (focus on Political and Social factors); Porter’s Diamond Model; Positioning; Protectionism and its impact on international trade.
References:
Cateora, Philip R. & Graham, John L.: International Marketing, Tata McGraw Hill. | Chapters 4, 5, 6, 7, 10 and 11
Joshi, Rakesh Mohan: International Marketing, Oxford University Press. | Chapters 3, 4 and 5
Unit III (3 Weeks)
Porter’s Five Forces Model; Ghemawat’s CAGE framework; Globalisation; Demographics and Segmentation; Assessing Market Potential, How markets behave, Selling in specific markets (Developed, Developing, Post-Communist); “Right” Market to enter and “Right” Time to enter; What (mis-selling, outdated products), Where, Why, and How are we selling; Customer needs (of the non home market); Packaging; Selling to and in emerging markets, unique customer needs, upward social mobility, Tier 1, 2, 3 and 4 customers and markets, purchasing power and willingness to pay; Concerns and issues with available market analysis tools.
References:
Cateora, Philip R. & Graham, John L.: International Marketing, Tata McGraw Hill. | Chapters 8, 9, 13 and 14
Joshi, Rakesh Mohan: International Marketing, Oxford University Press. | Chapters 6, 8, 9, 10 and 11
Unit IV (4 Weeks)
Strategic (and global) Alliances; Global level of competition; Product Development; People concerns (Manufacturing facilities, quality of the available workforce) E-Commerce and Changing Marketing Paradigms; Supply Chain as a source of International Advantages; Managing International Sales (Channels and Logistics); International Advertising and Promotions; Pricing for international markets, Pricing wars (War Chests), Approaches – Full- cost v/s Variable, Skimming v/s Penetration (non numeric), value of money, factors influencing pricing; Implementing a Global Marketing Strategy. Support Mechanisms for Exports and International Trade, International Payment Methods, Managing Risks in International Trade.
References:
Cateora, Philip R. & Graham, John L.: International Marketing, Tata McGraw Hill. | Chapters 15, 16, 17, 18 and 19
Joshi, Rakesh Mohan: International Marketing, Oxford University Press. | Chapters 12, 13, 14, 16, 18, 19, 20 and 22
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