Objectives and competences
The general objectives of the course are aimed at developing the student's comprehensive understanding of the process of entry and performance of firms in international markets. Students will be able to analytically assess a firm's competitiveness and its international marketing environment, and develop international marketing strategies, including segmentation, positioning, market selection, forms of entry into foreign markets, and the development of an international marketing programme. With these competences, students will be able to plan and implement successful international marketing strategies and adapt to a dynamic international business environment.
Content (Syllabus outline)
The course deals with the strategic management process of international marketing. The focus is on understanding, planning and implementing marketing strategies at international level. The whole process enables companies to develop an effective international marketing strategy and compete successfully in global markets. Key points include:
- International marketing strategy: Developing a comprehensive strategy for entering and operating in international markets, including a five-step plan for successful implementation.
- International Competitiveness Analysis: An internal analysis focusing on the company's core competencies and the development of competitive advantages.
- Analysis of the company's international environment: A study of the macro and micro environment, including political, economic, socio-cultural, demand and competitive analysis.
- Decision-making on the selection of foreign markets: Application of SWOT analysis, development of international expansion strategies and segmentation, positioning and management of the international market/product portfolio.
- Decision-making on foreign market entry modes: Assessing different foreign market entry modes, including export, contract and hierarchical modes.
- Developing an international marketing programme: Deciding on products/services, pricing, distribution and communication tailored for international markets.
- Implementation and control of international marketing activities: Implement strategies, monitor and evaluate performance using financial and non-financial metrics.
Learning and teaching methods
- Ex-cathedra lectures
- Interactive lectures
- Analyses of case studies
Intended learning outcomes - knowledge and understanding
Students in this course:
1. Understand and apply the concepts and theories of strategic international marketing management to analyse and assess the firm's competitiveness in international markets and formulate strategies to improve the firm's position in these markets (PILO 1a)
2. Are able to analyse and assess the core competences and competitive advantages of a company in an international context (PILO 2c)
3. Are able to analyse the firm's macro and micro environment and assess the impact of political, economic and socio-cultural factors on international marketing (PILO 2c)
4. Understand and are able to apply international marketing theories to develop a strategy for entering international markets (PILO 2a, 2b)
5. Are able to formulate a comprehensive international marketing plan, including decisions on market selection, segmentation and product positioning (PILO 2a)
6. Are able to effectively present and defend their solutions to international marketing challenges and work collaboratively in a team to solve problems (PILO 3b, 3c)
7. Demonstrate knowledge of fundamental digital and AI-based tools for solving complex international marketing challenges (PILO 3a)
8. Understand the concept of sustainable development and the importance and types of sustainable practices in international marketing (PILO 4b)
9. Recognise moral issues in international marketing and are able to identify possible responsible business choices (PILO 4a)
10. Are able to critically evaluate a company's international marketing strategies and apply advanced research methods to study how they work (PILO 2c)
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Intended learning outcomes - transferable/key skills and other attributes
Students in this course:
1. Understand and apply the concepts and theories of strategic international marketing management to analyse and assess the firm's competitiveness in international markets and formulate strategies to improve the firm's position in these markets (PILO 1a)
2. Are able to analyse and assess the core competences and competitive advantages of a company in an international context (PILO 2c)
3. Are able to analyse the firm's macro and micro environment and assess the impact of political, economic and socio-cultural factors on international marketing (PILO 2c)
4. Understand and are able to apply international marketing theories to develop a strategy for entering international markets (PILO 2a, 2b)
5. Are able to formulate a comprehensive international marketing plan, including decisions on market selection, segmentation and product positioning (PILO 2a)
6. Are able to effectively present and defend their solutions to international marketing challenges and work collaboratively in a team to solve problems (PILO 3b, 3c)
7. Demonstrate knowledge of fundamental digital and AI-based tools for solving complex international marketing challenges (PILO 3a)
8. Understand the concept of sustainable development and the importance and types of sustainable practices in international marketing (PILO 4b)
9. Recognise moral issues in international marketing and are able to identify possible responsible business choices (PILO 4a)
10. Are able to critically evaluate a company's international marketing strategies and apply advanced research methods to study how they work (PILO 2c)
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Readings
Obvezna (Compulsory) :
1. Hollensen, Svend. 2020. Global Marketing. 8th Ed. Harlow: Pearson Education (izbrana poglavja/selected chapters).
2. Hollensen, Svend. 2019. Marketing Management. A Relationship Approach. 4th Ed. Harlow: Pearson Education (izbrana poglavja/selected chapters).
Dodatna (Additional):
3. Nabor relevantnih študijskih primerov in drugih gradiv, naloženih v e-učilnico (A set of relevant case studies and other sources, uploaded to the e-Learning classroom)
Additional information on implementation and assessment - Written examination or two colloquia
- Case studies
- Ongoing assignments
Written examination or two colloquia - written exam or two colloquia. The student must achieve 56 % of the points for a pass.
Case studies - the student prepares two written case studies.
Ongoing assignments - the student prepares two written individual or team homework assignments.
