Global Marketing Management
- 1.5 credits
- Prerequisite: MBA Core
The primary focus of the course is on issues surrounding global market entry and expansion. The course uses an advanced computer simulation to provide students with an opportunity to gain exposure to and experience the realities of global marketing issues in a rich, realistic setting. The simulation is a special kind of case method instruction technique wherein students apply marketing concepts in a dynamic global marketplace. You will learn what it will be like to compete in the fast-paced, competitive market where customers are demanding and the competition is working hard to take away your business.
The simulation creates an evolving market, where future decisions must be made in the context of earlier ones. Results depend not only on your own decisions, but also on competitors' actions. To be successful, students will need to conduct complex analyses and employ integrated decision-making.
The course will begin with an overview of issues involved in global marketing and the concepts will thereafter be brought to life in detail via the simulation. Specific topics and tasks covered include:
Market Entry: Evaluate country attractiveness and market potential. Decide which markets to enter, along with the order and time of entry.
Type and Mode of Entry: Local production versus exporting; distribution through a company sales organization versus indirect wholesalers; managing types and modes of distribution over time.
Understanding buyer behavior and motivating the buyer: Where customers shop, what motivates their purchasing decisions, and their level of brand awareness.
Segmentation, targeting, and positioning: Select segments to target and how best to position brands for chosen segments.
Product decisions: Select global, adapted, or local product and appropriate product for a specific market, from an existing set of product offerings.
Pricing: Set price to meet local market conditions or to maintain multi-country pricing consistency. Determine the gray market impact of large across-market price differences and an overall pricing strategy.
Advertising and promotion: Use standardized home country ads, or create new local campaigns (paying attention to cost - consumer tradeoffs). Allocate budget across advertising and other promotional expenditures. Consider different ad and promotional objectives across markets.
Distribution: Allocation of sales force to types of accounts, implying a relative emphasis on specific channels.
Financial impact of each decision: Students must manage their margins and understand the impact of fixed costs and capacity utilization.
Grading will be based on performance in the simulation, written reports, discussions, and presentations.