Objectives of the Master in Foreign Trade and International Marketing (e-learning)
Module 1 of the Master in Foreign Trade and International Marketing: International Trade
The objective of “Module 1: International Trade” of the Master in Foreign Trade and International Marketing is to provide all the knowledge, tools, and techniques necessary to manage all technical aspects related to
the foreign trade: Incoterms, transport, customs, documents, payments, documentary credits, international finance, contracts...
The objectives of the module international trade are to understand...
- Globalisation and international business
- Positive and negative effects of globalisation
- Cultural, political, and environmental dimensions of globalisation
- The liberalisation process and the role of the World Trade Organisation
- Trends to regionalism, the role of emerging markets, BRICS Countries, India, and China.
- The causes of the World financial and economic crisis.
- The nature of exporting and the difficulties, that may arise. Learn about Import-Export transactions, the difficulties with them and how to
overcome these challenges.
- The different types of documents used in foreign trade, which documents are usually required by customs, the requirements for various documents and how to fill in these documents correctly.
- The responsibilities of the exporter and importer under Incoterms 2010 and how Incoterms are used in international trade transactions.
- The role and functioning of customs and the role of a customs agent.
To become familiar with import procedures.
- The different customs procedures, methods of products classification and learn to complete the Customs documents.
- The role of the World Customs Organisation and the World Trade Organisation
- The importance of correct logistics and transport management for international trade.
- To analyse the modes of transport (marine, air, road, train, multimodal) and their characteristics as well
as the transport documents required for each mode of transport and how to complete them.
- To understand the functioning of marine transport, documents required for sea freight and how to complete them.
- Familiarising the student with different types of packaging, packaging materials, the use of pallets and containers, packing marks, modes of transport and packaging, and the criteria to be used when selecting an appropriate packaging for particular shipments.
- The various methods of payments used in international trade and outlining their differences, advantages, and disadvantages both for the importer and the exporter. What Documentary collections are and how they work. Export and import Collections will be analysed.
- The importance of
Documentary credits in international trade. How Documentary credit works and the obligations of the parties involved
- The various methods of finance both for exports and imports.
- The fundamentals of foreign exchange markets.
- The different types of bonds and guarantees and how they operate.
- The various methods of managing exchange and country risk. Forward exchange contracts and currency options will be examined in greater detail. Forfeiting, Factoring, and Invoice Discounting
will be analysed.
- With international contracts as they are used in international trade transactions.
- How to set up and run an Export Department.
The objective of “Module 2: Global Marketing” of the Master in Foreign Trade and International Marketing is to provide all the knowledge, tools, and techniques necessary to manage all technical aspects related to the global marketing of an exporting company: International Pricing, product, promotion, brand, segmentation, distribution...
- To learn about the key concepts in international marketing. 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.
- To understand the key tools and concepts of International market research and how best to apply them. A PEST analysis is an analysis of the external macro-environment that affects all firms.
- To learn the key areas of international product policy, the importance of adapting
the product to local requirements when entering new export markets and to analyse the product characteristics that typically need to be modified for different markets.
- To understand the importance of an appropriate International Pricing
Strategy when entering new export markets.
- To examine the pricing options available to the exporter and outline the criteria to be used when establishing a pricing strategy. The criteria defined in
pricing under Incoterms.
- To learn the importance of an appropriate International Promotion Strategy when entering new export markets, examine the promotion options available to the exporter, outline the key points to note when designing a company brochure and analyse the tools available when implementing a promotion campaign
- To understand the influence of a country's international brand on its export performance.
- To understand the fundamentals of international trade appropriate preparation and attendance and its related follow-up activity.
- To understand how to plan and prepare a business trip to a prospective export market and the follow-up, which will then be required.
- To learn the importance planning an appropriate International Distribution Strategy when entering new export markets, examine the distribution options available to the exporter, outline the criteria to be used when selecting a distribution option and analyse strategies that can be implemented for consumer and/or industrial products.
- To know the channel options, that may be used when entering new export markets. We are going to examine the direct and indirect export channels open to the exporter, analyse the functions of importers and representatives, discuss the use of the company personnel and sales or production subsidiaries as well as explore franchising, licensing and other channels.
- To explore the process of evaluating, recruiting and managing international sales representatives and the mechanism involved in selling into department stores and hypermarkets.
- To understand the importance of international segmentation in our strategies of marketing and internationalisation.
- To know the targeting strategies: concentrated, differentiated, product specialisation, market specialisation, full market coverage
- To know the main brand strategies: global, regional or local.
understand the process of creating brand value in the global markets.
- To know the strategies of positioning a brand in international markets.