MRKT 334 International Marketing Course Guide
The student is introduced to a systematic treatment of global marketing. The emphasis is on the problems and opportunities available to exporters of U.S. products and services, as well as organizations with multinational or global operations. Attention is devoted to cultural, social, and economic factors that affect marketing on a global scale. Suggested for students enrolled in International Studies, Foreign Languages and Business Program. Prerequisites: MKMG—212, ECON—101. (ATTR: BUS, MCCP, MULT))
In the last 25 years the term "Global" has acquired a new meaning as a result of both, globalization and technology. We have been witnesses to advances, innovations, and breakthroughs in communications, transportation, technology, trade, regulations, and financial flows that have significantly altered concepts of time, geographical distance, national boundaries, entrepreneurial endeavors, manufacturing, distribution, and markets. Seemingly minor events in a remote cul-de-sac of a nation bear profound implications for the rest of the world and affect the economies, politics, and markets in far-reaching regions of the Earth. Country of origin of a given product, service, or idea has been rendered meaningless by a universal zest for consumption.
This is an introductory course in International marketing that will equip students with the tools, tenets, and terminology to explore global opportunities. We will focus on the principal activities of a manager, namely choosing the scope of the firm, evaluating the firm’s competitive environment, strategically positioning the firm within that environment, and understanding the relationships between strategy and organizational decisions all with an emphasis on global businesses. This course envisions aiding students in developing a formal analytic framework for thinking about strategic decision-making based on recent developments in the field of International Marketing. Although many companies have carried on international activities for decades, today's global companies are much more aggressive and expansive. Competition in the international arena has undergone quantum intensification. Domestic companies that never considered foreign competitors now find them in their backyards. No corporation can remain immune to this phenomenon and hope to survive. This course is designed to provide students with an up-to-date recognition and understanding of global issues, disciplines, competition and the requisite skills in decision making with a global perspective.
The purpose of this course is to provide a comprehensive introduction to the theories and practical aspects of international marketing from both a functional and geographic perspective. Special emphasis will be on a strategic management approach to international marketing issues, development of the modern international economic system, role of multilateral and national institutions in the management of that system, and the increasingly important nexus between international commercial relations among nation states and the operations of international enterprise. We will examine the range of considerations faced by business and government as they interact in the international marketplace, including governmental actions to influence the terms of trade and investment, and the operation of multinational enterprise. We will attempt to acquire the various tools and resources available to the international manager to facilitate contemporary international marketing transactions and emerging issues in international marketing which are likely to exert increasing pressure on the international manager in the coming years.
The course content will highlight several topical and emerging issues in international marketing that will take on increasing importance as businesses continue to become more globally competitive. We will also consider the concept of social responsibility and ethics, the increasing influence of environmental laws and policies on international marketing, and the "politics" of trade. We will devote some time to the role of electronic commerce in globalization and potential regulations facing e-commerce both domestically and across boarders.
The course objectives broadly fall into the following three categories:
1. Core Competence:
- To acquire the basic knowledge, concepts, tools, and professional terminology necessary to understand specific considerations facing firms as they engage in international marketing.
- To comprehend how the traditional functions of an enterprise must adjust and adapt to the challenges of the international marketplace.
2. Analytical Competence and Skills:
- To build student skills in thoughtfully and critically evaluating the social, political, economic and cultural forces which affect the operations of international marketing.
- To build respect for and understanding of diversity of nations through country analysis of our current trading partners and potential global markets hitherto unexplored.
- To build student awareness of governmental attempts to influence the conduct of global business and the constant reassessment of a firm's interactions with both home and host governments in an international environment characterized by rapid change.
- To develop managerial reading skills in concert with the ability to synthesize what we cover in class, readings, and the situations presented in a business case.
- To build student’s managerial skills through participation in term projects and papers that emphasize application of International Marketing concepts.
- To build student’s awareness of the interconnectedness of international markets through study of local and regional firms that are engaged in international marketing.
- To make students comfortable with working in teams and public presentation of ideas and research.
- To provide students with opportunities for friendly and constructive criticism as a means of strengthening your thinking and articulation.
- To acquaint students with the extant "tools" of international marketing available to global managers, such as the Internet, National Trade Data Bank, Atlas, Compass, US Census Bureau and other government databases that assist in finding and securing opportunities and making global operations more efficient and effective.
Assessable Learning Outcomes
At the conclusion of this course, the students should be able to:
1. Describe and discuss the strategic role of the international marketing function and its impact on overall corporate performance
2. Describe and discuss the principles of economic, cultural, social, political, legal, and regulatory environments that impact international marketing decisions
3. Describe and discuss the principles international market entry strategies
4. Describe and discuss the principles of product decisions in the international markets
5. Describe and discuss the principles of pricing decisions in the international markets
6. Describe and discuss the principles of distribution decisions in the international markets
7. Describe and discuss the principles of marketing communication decisions in the international markets
8. Describe and discuss the principles of social and ethical responsibilities in international markets
9. Additionally, the student will have gained experience in significant decision-making and problem-solving skills in international markets as evidenced in an integrated term project
Suggested Teaching Methodology
A mix of lectures, discussions, exercises, problem assignments, group projects, term papers, computer-based simulations, role-playing exercises, and cases could be used as pedagogical tools. To benefit fully from the course students should be expected to assume the role of active participants.
Prerequisite Knowledge and Skills
This upper level marketing course can be taken during the third or fourth year of the marketing and management degree program. Students must have attained the learning objectives of MKMG-212, Marketing. Specifically, they must demonstrate an understanding of the core concepts of marketing, verbal, non-verbal, and written communication skills, and a basic understanding of marketing ethics and social responsibility. Further, students should be able to function productively in a team, demonstrating leadership capabilities when appropriate. Students must be able to utilize the Internet and computer software to prepare professional looking documents and presentations.
Specific Prerequisite Courses
Marketing Concepts and Issues [MKMG-212 at Siena] or Equivalent.
Principles of economics (Micro) [ECON – 101 at Siena] or Equivalent
THESE COURSES SHOULD NOT BE TAKEN CONCURRENTLY WITH INTERNATIONAL MARKETING.
Recommended Student Assessment Measures
Class Participation: Class participation score is based on instructor judgment of three P's: Preparation, Presence, and Participation. If students find it uncomfortable to speak up in class, perhaps alternative ways of contributing to the class may be designed and evaluated.
Examinations: Exams covering content areas could be given during the semester. These examinations could have any combination of true/false identifications, multiple-choice questions, essay questions, and problems. All exams will be based on class lectures, discussions, exercises, cases, assignments and the required textbooks and reading material.
Student Projects: Any combination of mini-projects or more elaborate term projects may be used to gauge the analytical and integrative knowledge and skills of the students. Such projects may be assigned individually or in student teams. The raison d’être of such projects would be to create “real world” situations in which students are expected to make strategic decisions and enjoy (suffer?!) the consequences of such decisions.
Student-teacher relationships are built on trust. Any student found violating this trust undermines the educational process and is subject to significant disciplinary action.
The concept of academic integrity lies at the very heart of any college. This is particularly true of Siena with its strong Franciscan tradition and its dedication to fostering sound moral growth. In such an environment, academic dishonesty cannot be tolerated. Students who commit such acts expose themselves to punishments as severe as dishonorable dismissal from the college. Academic dishonesty can take different forms, including, but not limited to, cheating (dishonesty in a test situation), plagiarism (dishonesty in the presentation of materials in a paper or report), and computer abuse. In any situation in which a student is unsure of what constitutes academic dishonesty, it is the student's responsibility to raise the question with his or her instructor. It is also the student's responsibility to be familiar with the student guidelines on academic honesty, "Academic Integrity and the Siena Student." Alleging ignorance of what constitutes academic dishonesty or of the College's policy on the subject will not be considered a valid explanation or excuse.
The Siena Committee on Academic Integrity hears cases of alleged academic dishonesty. This student/faculty committee reviews evidence for and against the accused. If the student is found guilty, the committee will determine the appropriate sanction(s), which may include failure of the course, suspension from the College, or permanent dismissal. A statement of the reasons for such sanctions will be placed in the student’s file. Alleging ignorance of what constitutes academic dishonesty or of the College’s policy on the subject will not be considered a valid explanation or excuse.
Although it is presumed that students adhere to all academic integrity guidelines, instructors are to institute specific measures to assure compliance. All submissions will be screened for plagiarism and other violations of academic integrity.
Statement of Expectations
This upper-level marketing course will delve into the topic of international marketing in significant depth. To further the learning experience, students are required to complete a variety of assignments and projects. As such, not all learning will take place in the classroom. Students are required to invest time outside of the classroom to adequately learn the material. It is expected that, in addition to the three hours spent in class, students will invest approximately ten to fourteen hours per week reading, studying, meeting with their group, and completing course requirements.