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Demonstrate an understanding of how marketing contributes to business strategies in an international context

Unit 40:            International Marketing

Unit code         Y/508/0599

Unit level         5

Credit value     15

Introduction

The aim of this unit is to introduce students to a variety of methods organisations use to coordinate their international marketing efforts. Students will critically evaluate the various challenges that organisations face when doing so. This unit will give students the knowledge and ability to work with marketing teams internationally and to study marketing at a higher level.

In today’s globalised economy it is essential that marketing efforts are able to transcend international borders. To do this, marketers must gain an appreciation of the various cultural, regulatory and political issues that exist in transferring marketing strategies into different countries and the impact it can have on both consumers and the organisation.

Learning Outcomes

By the end of this unit a student will be able to:

1.    Demonstrate an understanding of how marketing contributes to business strategies in an international context.

2.    Evaluate entry to a selection of international markets and define the key success factors.

3.    Investigate how elements of the marketing plan can be adapted or standardised across international markets.

4.    Demonstrate an understanding of how to organise and evaluate international marketing efforts (multinational, global, transnational, meta-national, etc.)

Essential Content

LO1 Demonstrate an understanding of how marketing contributes to business strategies in an international context

International context:

·         Scope and definition of international marketing.

·         Rationale for why organisations are seeking to internationalise. Key global macro and customer trends.

·         Contribution to meeting strategic objectives:

·         Marketing’s role in contributing to the business strategy in an international context.

·         Factors that influence internationalisation.

·         Setting an international marketing strategy to meet objectives.

LO2 Evaluate entry to a selection of international markets and define the key success factors

Critical evaluation of international markets:

·         The importance of choosing the right international market. The international market selection process.

·         Opportunities and challenges when entering international markets, including ethical and legal considerations.

·         Risk management and contingency planning in relation to volatile international markets.

·         Generic international market entry strategies.

·         Determining key success factors of international marketing

LO3 Investigate how elements of the marketing plan can be adapted or standardised across international markets

The marketing plan in an international context:

·         Product adaption: global vs local. Pricing in international markets.

·         The use of new technologies that support international distribution and promotional strategies considering hardware (computerised systems, telecommunications, networks) and software (mobile computing, cloud computing, social media).

·         People and servicing in an international context. Tapping into untapped markets.

LO4 Demonstrate an understanding of how to organise and evaluate international marketing efforts (multinational, global, transnational, meta- national, etc.)

International marketing efforts:

·         Organisation structures in an international context. Home or international orientation and reporting lines.

·         Negotiation and new business assessment in international markets. Assessing international market competition.

·         Assessing international market performance.

Learning Outcomes and Assessment Criteria

Pass

Merit

Distinction

LO1 Demonstrate an understanding of how marketing contributes to business strategies in an international context

 

P1 Analyse the scope and key concepts of international marketing.

P2 Discuss the rationale for an organisation to want to market internationally and describe the various routes to market they can adopt.

M1 Evaluate the opportunities and challenges that marketing internationally presents to an organisation.

LO1 and LO2

D1 Produce a critical evaluation of the international market context, including insight into how organisations should adapt their marketing strategies for various markets.

LO2 Evaluate entry to a selection of international markets and define the key success factors

 

P3 Evaluate the key criteria and selection process to use when considering which international market to enter.

M2 Apply the market evaluation criteria, entry strategies and make recommendations for a selected organisation.

 

P4 Explain, using examples, the different market entry strategies, including the advantages and disadvantages of each.

 

 


Pass

Merit

Distinction

LO3 Investigate how elements of the marketing plan can be adapted or standardised across international markets

 

P5 Present an overview of the key arguments in the global vs local debate.

P6 Investigate how the product, pricing, promotional and distribution approach differs in a variety of international contexts.

M3 Evaluate the context and circumstances in which an organisation should adopt a global or local approach, highlighting the implications of doing so.

M4 Determine and articulate in detail how to adapt the marketing mix of a selected organisation in different international markets.

D2 Produce a critical evaluation of how the marketing mix is applied to a range of international contexts.

LO4 Demonstrate an understanding of how to organise and evaluate international marketing efforts (multinational, global, transnational, meta-national, etc.)

 

P7 Explain and analyse the various international marketing approaches organisations can adopt.

P8 Compare home and international orientation and ways to assess competitors outlining the implications of each approach.

M5 Evaluate various marketing approaches and competitor analysis in relation to an organisation and make recommendations on how they should operate in an international context.

D3 Make recommendations on how organisations should be structured to maximise the opportunity in an international context.


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