A. Entrance Competencies:It is expected that through prior graduate and/or undergraduate courses students will have an understanding of and basic familiarity with the following concepts, theories, and topics:
1) the basic laws of supply and demand and their impact on macroeconomics in a market-directed economy.
2) the basic tenets of the "marketing concept" and its importance for modern organizations in a competitive environment.
3) the most basic principles of the world's major economic systems - e.g. capitalism and socialism.
4) the components of modern marketing strategy - target marketing and the marketing mix (4 P's).
5) basic principles of human motivation and buyer behavior.
6) the major U.S. laws and federal regulatory agencies that impact decision-making in the areas of product, pricing, promotion, and channels of distribution, and
7) the ability to communicate effectively orally and in writing.
B. Exit Competencies
Students upon successful completion of MKT 5833 International Marketing will:
1) Understand how the basic principles of marketing are applied in a variety of diverse cultural, political, legal, and economic environments.
2) Appreciate the universal nature of the "Marketing Concept" and understand how customer-oriented marketing managers apply the concept in international markets.
3) Be able to analyze foreign markets to determine their overall export potential.
4) Be aware of the various techniques used by modern marketers for segmenting foreign markets in both the consumer and industrial sectors.
5) Be aware of the position of the United States in terms of its major trading partners and in terms of relationships and interdependence between it and various foreign nations.
6) Be familiar with the major nations of the world and the management implications of international marketing to/from those countries.
7) Be aware of the many sources of intercultural conflict or misunderstanding and gain insight into methods of reducing or eliminating these problems.
8) Be able to explain the various methods of entering foreign markets, the degree of commitment required, and the associated levels of risk.
9) Be able to identify key sources of foreign market information including primary and secondary research approaches.
10) Understand the concepts of product life cycle and classification of goods and their importance for foreign market acceptance, product adaptation, and overall marketing strategy decision-making.
11) Know how international marketers develop pricing strategies for goods sold abroad.
12) Know how to develop advertising and promotional strategies for global markets.
13) Understand the basic principles, objectives, and problems in developing international channels of distribution.
14) Obtain a good understanding of international sales negotiations and the cross-cultural dynamics evidenced in such situations.
15) Formulate your view on the globalization/extension versus localization/adaptation debate.