Join Doug Ladd for an in-depth discussion in this video What you should know before watching this course, part of Marketing Foundations: International Marketing.
- Here's the thing that is sometimes forgotten. The keyword in the phrase international marketing is marketing. At the end of the day, the basics of marketing are the cornerstones for building and executing a solid plan. Do consumers in India have the same access to credit cards as your buyers in the U.S.? How do they feel about using credit? If a key part of your marketing plan relies on the ability of the customer to use credit, you probably need to know this before trying to sell your idea in Mumbai. Understanding how to do primary and secondary market research will be important.
Will you need to make a change to the features of your product? Will the package fit on the shelves in the smaller stores often found in Latin America? Should you charge more or less for your services in the new market? How should you advertise in this new country? Understanding the four P's of marketing, product, price, place, and promotion, is important to get the most out of this course. Positioning your product, projecting reasonable goals, and developing strategies to address competitive responses are core skills you'll need to be successful in marketing on a global basis.
If you haven't done so already, I suggest you watch Marketing Fundamentals with Drew Boyd right here on Lynda.com, where you can get the necessary toolbox to gain the most value from this course. The investment will be well worth your time.
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.
- The rise of the global consumer
- Learning about customers in global markets
- Accessing foreign markets
- Adapting products
- Balancing risks and rewards