Undergraduate Course: International Marketing (BUST10067)
Course Outline
| School | Business School |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | Few companies these days could claim to be purely domestic. While the firm may confine its activities to the domestic market, the market itself is unlikely to be so restricted and may be served by firms head quartered in or operating from a number of other foreign countries or regions. Knowledge of international issues is therefore of vital importance to all firms whether they are actively involved in marketing in foreign markets or have foreign competitors at home. The increased scope, risk and complexity faced by the international marketer is due to the increased level of uncertainty from operating in diverse and less understood environments. The discussion of international marketing issues in this course is related to the international marketing decision-making process at three levels; (a) the macro level at which country selection decisions are made; (b) national level at which market entry decisions are made; and (c) market level where marketing mix decisions are made. |
| Course description |
The first emphasis will be placed on the challenges presented by the international marketing environment, and the identification of opportunities and threats emerging from diverse cultural, economic, demographic, political/legal, and competitive environments. The second emphasis will be placed on the investment decisions in the foreign market(s) including the Foreign Market Entry Modes (FMEM). This includes; exporting; licensing and franchising; contractual agreements; joint ventures; wholly owned subsidiaries; and strategic alliances. The choice amongst these alternative foreign market entry and development strategies is a key issue in international business, since the market servicing mode adopted will have a major impact on the costs, risks and return associated with firms international expansion; and overall performance. Finally the third emphasis, which is particularly important in this course, will be placed on the firm's ability to develop, offer and effectively manage the marketing mix programmes in typically complex international environments.
Syllabus
1. Introduction to the course - Introduction to international marketing, Theories relating to international business
2. The international marketing environment
3. The importance of cultural awareness
4. International market research and market selection
5. International market entry choices
6. Designing the marketing programme 1: Products, and Services
7. Designing the marketing programme 2: Pricing and Distribution
8. Designing the marketing programme 3: International brands and communications
9. International marketing in action: global, multi national and SME strategies and campaigns
10. Ethical, financial, organisational, and control issues in international marketing
11. Revision, review, end of course quiz
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Information for Visiting Students
| Pre-requisites | Visiting students must have at least 4 Business courses at grade B or above. This MUST INCLUDE at least one Marketing course at intermediate level. This course cannot be taken alongside BUST08004 Marketing. We will only consider University/College level courses.
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| High Demand Course? |
Yes |
Course Delivery Information
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| Academic year 2019/20, Available to all students (SV1)
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Quota: None |
| Course Start |
Semester 2 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
196 )
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| Assessment (Further Info) |
Written Exam
60 %,
Coursework
40 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
Continuous assessment: (group - based) report of up to 3000 words will account for 40% of the final grade, 10% of which will be adjusted from peer assessment marks using WebPA.
In addition to the continuous assessment project, the course will be assessed by a degree examination in the April /May exam diet. It should be noted that all sessions are examinable in the degree examination.
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| Feedback |
Generic feedback on your coursework, together with individual marks, will be available on Learn.
Your examination marks will be posted on Learn (together with generic feedback and examination statistics) as soon as possible after the Boards of Examiners' meeting (normally early-mid June). During the summer months (i.e. mid/end June - end August), you may come into the Business Studies Office (Room 1.11, Business School, 29 Buccleuch Place) to look at your examination scripts. Note that you will not be able to remove any examination scripts from the UG Office as they may be required by the Board of Examiners. |
| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
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| Main Exam Diet S2 (April/May) | | 2:00 | |
Learning Outcomes
On completion of this course, the student will be able to:
- Understand and discuss critically the nature of international marketing and appreciate the difficulties of conducting marketing activities in foreign markets
- Critically evaluate the potential of international markets, identify market opportunities and assess challenges in foreign markets
- Critically appraise the alternative foreign market entry (investment) modes available to companies
- Understand and discuss critically how to manage the firm's International marketing mix in foreign markets
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Reading List
CORE TEXT:
Hollensen S, (2017) Global Marketing, 7th edition, Pearson, Harlow
USEFUL JOURNALS:
More useful material on international marketing is available in Journal of International Marketing, International Marketing review, Journal of International Business Studies, Journal of World Business, and the main marketing journals. Country reports are provided by the Economist Intelligence Unit, OECD, and the World Bank. A variety of market reports might be available in The University Library and The National Library Commercial Section.
USEFUL WEBSITES:
Financial Times http://www.ft.com/
Economist http://www.economist.com/
Business Week http://www.businessweek.com/
Newsweek http://www.newsweek.com/
The Wall Street Journal http://www.wsj.com/
United Nations http://www.un.org/
World Bank Publications http://publications.worldbank.org/ecommerce/ WTO World Trade Organization http://www.wto.org/
Country Reports http://www.countryreports.org/
Culture and Languages http://gamma.sil.org/ethnologue/
Fortune Global 500 http://www.pathfinder.com/fortune/global500/
Global Market Information Database http://www.euromonitor.com/gmid.asp
Journal of International Business Studieshttp://www.jibs.net/
Journal of International Marketing http://www.marketingpower.com/content1055C364.php Harvard Business Review http://www.hbsp.harvard.edu/
Advertising Age International http://adage.com/international/daily/index.html
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Additional Information
| Graduate Attributes and Skills |
Cognitive Skills
1. Critically evaluate key international marketing concepts, theory and practice.
2. Demonstrate an understanding of the advantages and disadvantages of each entry mode and the major strategic and operational issues associated with them.
3. Critically evaluate a firm's international marketing strategy and marketing mix decisions.
Transferable Skills
1. Be able to analyse international marketing cases and provide appropriate solutions to the challenges of operating in international markets.
2. Apply theoretical frameworks to real-world marketing situations and recommend appropriate entry mode options and suitable international marketing mix strategies.
3. Effectively communicate your analysis of international marketing situations to others in small groups or to the whole class.
4. Demonstrate your understanding of specific entry mode concepts under examination conditions, by drawing upon relevant reading and examples.
5. Develop analytical skills in reading case studies, scenarios & international business press |
| Additional Class Delivery Information |
1 lecture (2 hours) every week |
| Keywords | IM |
Contacts
| Course organiser | Mr Julian Rawel
Tel: (0131 6)50 8067
Email: Julian.Rawel@ed.ac.uk |
Course secretary | Ms Chrysanthi Manidou
Tel: (0131 6) 50 3826
Email: Chrysanthi.Manidou@ed.ac.uk |
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