Subject (Course): International Marketing. Syllabus:
Objectives of the subject “International Marketing”:
In this subject; we will analyse the purpose of international marketing, explore the concepts of price and value to the customer, examine the marketing mix in the context of Export marketing and discuss the key elements of an export marketing plan.
In this subject, the student is shown how to identify the elements of international trade, and how to design an international marketing strategy effectively.
We will study the international 4P's concept and the international marketing plan.
IMPORTANT NOTE: this subject is only an introduction to international marketing, the student will have a real vision of international marketing, after studying the following units:
Sample of the subject - International Marketing:
Subject Description: (International Marketing).
There are many definitions of marketing. The better definitions are focused on customer orientation and satisfaction of customer needs. International Marketing has been defined as the matching of the company resources to foreign customer needs in the context of achieving business goals. In a layman's terms; it is the best way of using company resources to satisfy the needs of foreign customers to the greatest benefit of the enterprise. From another viewpoint, International Marketing is the process of getting a product/service from the manufacturer to a customer in a foreign country.
The correct definition of the marketing mix or 4P's (Product, Price, Promotion, and Place) will be fundamental to enter the target markets successfully we identify.
Some commentators will increase the mix to the '5 Ps', to include people. Others will increase the mix to '7 Ps', to include physical evidence (such as uniforms, facilities, or livery) and process (i.e., the whole customer experience).
In any case, the design of an international marketing plan will also be one of the pillars of our export activity.
From local to a global company.
The seven stages by which a company moves from being just a company supplying the national market to that of being an export company may be detailed as follows:
To profitably satisfy customer needs, the firm first must understand its external and internal situation, including the client, the market environment, and the business capabilities. Furthermore, it needs to forecast trends in the dynamic environment in which it operates. A useful framework for performing a situation analysis is the 5 C Analysis.
The new economy requires the implementation of new approaches and technologies. Many things should be re-invented to be adjusted to the new environment. Traditional marketing strategies are being transformed. Traditional marketing principles need to be re-discovered. Without a doubt, e-business has an impact on a product, price, promotion, and distribution. One must also consider online marketing policies. In e-marketing, the supplier is interested in developing a one to one Communication with the consumer. This subject examines e-marketing characteristics and the new approach to the marketing plan.