SYLLABUS

¨          Meaning, Features of International Marketing, Need and Drivers of International Marketing, Process of International Marketing, Phases of International Marketing, Benefits of International Marketing, Challenges of International Marketing, Difference between Domestic and International Marketing, Different Orientations of International Marketing: EPRG Framework, Entering International Markets: Exporting, Licensing, Franchising, Mergers and Acquisition, Joint Ventures, Strategic Alliance, Wholly Owned Subsidiaries, Contract Manufacturing and Turnkey Projects, Concept of Globalization.

(b)       Introduction to International Trade:

¨          Concept of International Trade, Barriers to Trade: Tariff and Non-Tariff, Trading Blocs: SAARC, ASEAN, NAFTA, EU, OPEC.

¨          Economic Environment: International Economic Institution (World Bank, IMF, IFC), International Economic Integration (Free Trade Agreement, Customs Union, Common Market, Economic Union).

¨          Cultural Environment: Concept, Elements of Culture (Language, Religion, Values and Attitude, Manners and Customs, Aesthetics and Education), HOFSTEDE’s Six Dimension of Culture, Cultural Values (Individualism v/s Collectivism).

(b)       Marketing Research:

¨          Introduction, Need for Conducting International Marketing Research, International Marketing Research Process, Scope of International Marketing Research, IT in Marketing Research.

¨          International Product Line Decisions, Product Standardization v/s Adaptation Argument, International Product Life Cycle, Role of Packaging and Labelling in International Markets, Branding Decisions in International Markets, International Market Segmentation and Targeting, International Product Positioning.

¨          Concept of International Pricing, Objectives of International Pricing, Factors Affecting International Pricing.

¨          International Pricing Methods: Cost Based, Demand Based, Competition Based, Value Pricing, Target Return Pricing and Going Rate Pricing.

¨          International Pricing Strategies: Skimming Pricing, Penetration Pricing, Predatory Pricing.

¨          International Pricing Issues: Grey Market, Counter Trade, Dumping, Transfer Pricing.

¨          Concept of International Distribution Channels, Types of International Distribution Channels, Factors Influencing Selection of International Distribution Channel.

(d)       International Promotion Decisions:

¨          Concept of International Promotion Decision.

¨          Planning International Promotional Campaigns: Steps – Determine the Target Audience, Determine Specific Campaigns, Determine Budget, Determine Message, Determine Campaign Approach and Determine Campaign Effectiveness.

¨          Standardization V/S Adaptation of International Promotional Strategies.

¨          International Promotional Tools/Elements.

¨          Preparing International Marketing Plan, Examining International Organisational Design, Controlling International Marketing Operations, Devising International Marketing Plan.

(b)       International strategies:

¨          Need for International Strategies, Types of International Strategies.

(c)        International Marketing of Services:

¨          Concept of International Service Marketing, Features of International Service Marketing, Need of International Service Marketing, Drivers of Global Service Marketing, Advantages and Disadvantages of Global Service Marketing, Service Culture.