This video-based crash course gives an overview of what to consider when operating in international markets.
The crash course International Marketing consists of five sections:
- Framework Conditions of International Marketing
- Segmenting & Selecting International Markets
- Creating Value in International Markets
- Delivering Value in International Markets
- Communicating Value in International Markets
International Marketing is (slightly simplified) the same as "normal" domestic Marketing, but the economic, political and cultural environment in the international context as well as the resources and competencies of a company have to be taken into consideration. Thus, the Marketing basics are only briefly introduced at the start of each section of this crash course. A much stronger emphasis is placed on the specific condition of international markets and how to integrate these into Marketing strategies and operations.
If you would like to brush up you Marketing knowledge and skills in general, you can take the video-based crash course Marketing: Marketing Crash Course.
(1) Framework Conditions of International Marketing
The framework conditions of in International Marketing are introduced in this section. After a short overview of Marketing in general, the political and economic environment, the cultural environment, and the respective resources and competencies of a company in the context of international business are explained.
(2) Segmenting & Selecting International Markets
This section deals with segmenting and targeting international markets. The video lecture will elucidate on...
- ...how to analyse the political, economic and cultural environment of target regions or countries through secondary research.
- ...how to analyse the needs, wants etc. of target groups within foreign regions or countries through primary research.
- ...how to select international target markets based on forecasting the market potential and assessing risks through scenario planning
- ...how to decide on the market entry sequence based on the company's resources and competencies
(3) Creating Value in International Markets
International business operations can only be successful if a company can create value to customers in foreign markets. Against this backdrop, the specifics of international product (brand) portfolio management, international brand and product management, and international pricing are explained in the video lecture of this section.
(4) Delivering Value in International Markets
The video lecture of this section is dedicated to shedding light on how a company can enter foreign markets and distribute its offerings. The following international distribution channels are discussed:
- Direct and indirect exporting
- Contract manufacturing, licensing and franchising
- Joint ventures and strategic alliances
- Operating subsidiaries in target countries
(5) Communicating Value in International Markets
In the last section of this crash course, you will learn about how to communicate value in international markets. It will be explained how to adjust marketing communication, such as conventional communication, guerrilla marketing and online marketing, to an international environment. Furthermore, a strong emphasis is placed on personal selling, including the organisation of an international sales force.
Lecture Notes - Download
You can download the lecture notes of the crash course International Marketing here: