Marketing Foundations: International Marketing

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.

Introduction

• Welcome
• What you should know before watching this course

1. The Importance of International Marketing

• The growing global economy
• The impact of protectionism on international marketing
• The rise of the global consumer
• The shifting global marketplace

2. Strategic Considerations for Your Company

• The importance of your company's culture and values
• Thinking of foreign markets like portfolio options
• Learning about customers in foreign markets
• Options for global expansion

3. Assessing Markets Outside Your Home Country

• The PESTCL framework: P is for "political"
• E is for "economic"
• S is for "social"
• T is for "technological"
• C is for "competitive"
• L is for "legal'

4. Market-Development and Product-Development Decisions

• Product adaptation and development
• Market development
• Diversification

5. Options for Global Expansion

• Balancing risk and expense vs. control and reward
• Exporting
• Licensing or franchising
• Joint ventures
• Direct investment
• Timing considerations . . . do you need to be first?

6. Resources to Help Gather Information and Make Decisions

• US Government departments and divisions
• World Bank and CIA.gov websites
• Industry trade groups
• Rating systems to help with decision making

7. Marketing-Mix Considerations

• The 4Ps of marketing
• Product modifications . . . don't forget the packaging
• Pricing considerations . . . the impact of currency fluctuations
• Distribution issues
• Promotional methods
• Translation and back translation

Conclusion

• Wrapping up