The course provides an overview of the most important strategic decisions to be taken in a global marketing context. The approach is managerial, interdisciplinary, and strategic. Managerial in that it looks at global marketing tasks through the lens of marketing managers. Interdisciplinary in that global marketing decisions require a clear understanding of the interface between marketing and other functional areas. And strategic, in that marketing strategy cannot be developed without an appreciation of business strategy and competitive advantage.

The course will begin with an in-depth review of contemporary opportunities, challenges, and risks of globalization. It will then explore international growth opportunities and market assessment methods. Subsequently, the class addresses the need to balance local responsiveness and global synergies and takes a closer look at the impact of culture on marketing-mix decisions. The attention then shifts to branding, positioning, and the impact of digitalization on global marketing. Throughout the course, special attention will be paid to matters of sustainability and emerging technologies, as well as equality, diversity, and inclusion.

The course aims to develop strategic thinking in a global marketing context. Students will learn key concepts and tools used in global marketing management practice and how to apply them to make well-informed global marketing decisions.

The course also provides students with opportunities to sharpen their analytical and communication skills through case study discussions and interactions with guest speakers.

Attendance in the first session is mandatory. Students that do not attend the first session will be de-registered from the course.

To obtain a grade for the course, students must attend at least 80% of the sessions. An absence of 4 hours (1 session) is permitted but may impact the participation score.

The course utilizes a combination of interactive lectures, case discussions, interactions with global marketing professionals and practical exercises. Therefore, attendance and participation in class discussions is critical to the success of the course and will determine students’ grade.

Students must carefully prepare read the assigned chapters, articles, etc. prior to the session for which they are assigned to ensure a lively class discussion.

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• Personal meetings are possible after all classes.
• For an appointment, please contact Ms. Taylor (imm@wu.ac.at).
• For administrative matters please contact our teaching assistant - Mr. Maximilian Ken Stein  - maximilian.ken.stein@wu.ac.at

Course Materials

             1. Course Text:

Schlegelmilch, Bodo B. (2022). Global Marketing Strategy - An Executive Digest (Second Edition), Springer International Publishing, Switzerland.

The book is available in hardcover and as eBook. The latter is free of charge within the WU Internet domain: Global Marketing Strategy | SpringerLink

            2. Case Studies:

 To participate in the course and to avoid copyright infringement, all students must individually purchase the three case studies. The link for the “course pack” can be found on Canvas.

           3. Lecture Slides and further Materials:

Lecture slides and further materials will be made available via WU’s Canvas learning platform.

The Use of AI

The use of Artificial Intelligence (AI) tools such as Open AI’s ChatGPT, Google’s Bard or Microsoft’s AI-powered Bing for various aspects of their study is explicitly encouraged. Students shall keep in mind that these tools are not yet fully reliable and often return false results presented with great “confidence”. 

Students must declare if and how they have used AI for their coursework. Reflecting on students’ use of AI will be subject to class discussion and best practices will be shared.

The following is a list of ways in which AI can be leveraged. The list was created by https://chat.openai.com/ (chat GBP 3) and was slightly edited.

1. Research and Information Gathering: AI-powered tools like search engines, digital libraries, and academic databases can help students efficiently find relevant research materials, scholarly articles, and credible sources to support their coursework.
2. Writing Assistance: AI-based writing tools provide grammar and spell-checking, sentence structure suggestions, and vocabulary enhancements.
3. Data Analysis and Visualization: AI techniques enable students to analyze large datasets, identify patterns, and create effective visualizations.
4. Language Learning and Translation: AI-powered language learning platforms aid in studying foreign languages and offer instant translation assistance.
5. Virtual Simulations and Experiments: AI-driven virtual simulations allow practical learning experiences, applying theoretical concepts in real-world scenarios.

Useful, state-of-the-art AI tools for different applications can be found here: https://theresanaiforthat.com/

Marketing in a Global Economy

In this introductory session, we first provide an overview of the module, including its main goals, sessions, and assessment modes. We also briefly discuss how to analyze case studies.

Then we define core concepts such as global, marketing, strategy, management, and brands. The remainder of the session is dedicated to understanding the global economy, that is, the playing field of global marketers. We will take a close look at key globalization concepts and international market dynamics and discuss what they entail for global marketers.

DELIVERABLES:

• None

READINGS:

• Schlegelmilch, Bodo B. (2022). Global Marketing Strategy – An Executive Digest – Chapter 1 & 2.

Schlegelmilch, Bodo B.: “A Note on Case Analysis”