After the fall of the iron curtain and changing the governmental system in Soviet Union, the world became flat and a new era in globalization has begun. After 2007 with the important innovations in technology like iPhone, social media, cloud technologies etc. have changed all the business models. The companies tried to reduce its costs with the help of these new technologies and to invest in foreign and far markets more than ever (outsourcing). The markets became more homogenous each day with global brands. As an obstacle of this globalization consumers and market behave also culturally different from each other. In this class the students will deal with the dimensions of global marketing (internationalization theories, environmental analysis, market selection, market entry strategies, adaptation vs. standardization of marketing programs, global marketing research, generating 4 P’s of marketing, controlling and global business ethics). There will be also a flashlight on current developments affecting global economy. In in class presentations the changing roles of global consumers, and regions (ASEAN countries, EU, US, Africa etc) after the pandemic and the forecasts about 2050 in global business will be discussed.

At the end of this course the students will be able to understand the basic principles of International Marketing. They will have a broader view about the international and global marketing and the components of this system. See above - for the subjects that will be discussed.

After this class, the students will have a broader view about global business, the changing trends about global consumers, shopping habits, and the development of different regions like emerging countries and base of the pyramid. Also, they will gain insights about the success and lessons from global companies from different countries. For their future business career this insight will give them a broader acceptance of different cultures and business models.

According to the examination regulations, full student attendance is provided for a PI. Students need to attend at least 80% of class sessions in order to pass the course successfully. In case of an absence, please notify the lecturer in advance.

Lectures, presentations, discussions, case studies.

Grading Components:

•          Team Presentations (20 Points)

•          Case - written paper - individual (20 Points)

•          Final Exam (60 Points)

Grading Scale:

•          91 Points or more: 1 (excellent)

•          76 Points or more: 2 (good)

•          61 Points or more: 3 (satisfactory)

•          51 Points or more: 4 (sufficient)

•          50 Points or below: 5 (fail)

Literature:

Bodo B. Schlegelmilch,  Global Marketing Strategy, An Executive Digest,

ISBN 978-3-319-26279-6, 2016, Editon 1

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email: reinhard.zuba@wu.ac.at