-
Learn how to evaluate international markets and determine the best marketing approaches to use for each target market.
Learn how to evaluate international markets and determine the best approaches for marketing your products and services overseas. Instructor Doug Ladd, an international marketing expert experienced in both emerging and established countries, first charts the rise of the global consumer and the marketer's roles in international expansions. Doug then explains how to assess foreign markets using the PESTCL framework, and introduces strategies for adapting existing products and developing new ideas for foreign markets.The course also investigates options for global expansion, such as exporting, licensing, joint ventures, and direct investment, and details how to put together a successful marketing mix using distribution, promotional methods, and translation. Plus, learn where to turn for more information about your specific target markets.
Overview
Syllabus
-
Introduction
- International marketing foundations
- The dynamic global economy
- How countries interact economically
- Who is the new global consumer?
- The importance of company culture and values
- Using a 2x2 matrix to assess opportunities
- How to get educated on customers in other markets
- PESTCL framework: Political factors
- PESTCL framework: Economic factors
- PESTCL framework: Social factors
- PESTCL framework: Technological factors
- PESTCL framework: Competitive framework
- PESTCL framework: Legal framework
- Product adaptation and development
- Market development in a new geography
- Diversification as an option
- How to export to new countries
- Licensing or franchising to enter new geographies
- Using joint ventures to expand globally
- Pros and cons of direct investment as a growth strategy
- US government departments and divisions
- World Bank and CIA websites
- Industry trade groups
- Rating tools to help make decisions
- Incoterms
- The four Ps of marketing
- Product changes: Don't forget the packaging
- Pricing: The impact of currency changes
- Distribution issues
- Promotional considerations
- Translation and back translation
- Continue learning about international marketing
