International Marketing Foundations

Learn how to evaluate international markets and determine the best marketing approaches to use for each target market.

Introduction

• International marketing foundations

1. The Growing Importance of Global Marketing

• The dynamic global economy
• How countries interact economically
• Who is the new global consumer?

2. Is Global Marketing Right for Your Company?

• The importance of company culture and values
• Using a 2x2 matrix to assess opportunities
• How to get educated on customers in other markets

3. Tools to Assess Global 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

4. Market and Product Development Considerations

• Product adaptation and development
• Market development in a new geography
• Diversification as an option

5. Options for Global Expansion

• 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

6. Resources to Gather Information and Guide Decision Making

• US government departments and divisions
• World Bank and CIA websites
• Industry trade groups
• Rating tools to help make decisions
• Incoterms

7. Marketing Mix Considerations

• 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

Conclusion

• Continue learning about international marketing