Skip to 0 minutes and 12 secondsWhen I reflect on my daily life, I drive a Korean car, I use an American phone, which has been made in China and I eat food from all over the world. Would your life be better or worse without global marketing? For me, global marketing is a positive phenomenon. It opens my eyes to new products and services which have, ultimately, improved the quality of my life. It brings together people and encourages exciting innovation. Times have never been more exciting living in a world of instant communication and gratification with global leading companies such as Google, Amazon, Apple and Netflix providing content instantaneously on demand and on the go.
Skip to 0 minutes and 48 secondsWe will also review common marketing mistakes and the implications they have on global marketing. For example, the fluctuation in balance of fuel prices across the world. Fuel prices can have a huge political and economic impact for organisations which can drive up production costs and squeeze margins. An example of this is the fuel price drop of 2014. This nearly bankrupted North Sea oil. As a result, this led to major cutbacks in one of the UK’s largest companies, BP. Over the next two weeks you will investigate and reflect upon why companies choose to enter new markets and conduct an analysis of factors that shape this process.
Skip to 1 minute and 23 secondsYou will also study how an organisation’s attitudes towards global marketing can evolve over time and how this shapes their strategy. This short course will equip you with the key analytical skills and knowledge of marketing frameworks. These skills will be essential in your career and will help you analyse your organisation’s environment in order to develop innovative global marketing solutions. Importantly I want you to develop a critical understanding of this process and use the theories as a starting point that you can adapt based on your own experiences. See you at the next step.
Welcome to Defining Global Marketing
In the welcome video, Dr Edward Turner talks about what motivates organisations to expand beyond their home market, and the models they might use to analyse the drivers of and impediments to this expansion.
We look forward to exploring these topics with you over the next two weeks, as well as providing you with tools to understand how you might improve your own area of practice.
This week you will:
- Research definitions of global marketing
- Explore the drivers of and impediments to international expansion
- Learn about an important strategic tool for analysing an organisation’s external environment: the PESTLE analysis
Meet the team
Your lead educator is Rajlakshmi Banerjee, a lecturer in Marketing and Advertising in Coventry University Business School.
You can follow her by selecting the link to his FutureLearn profile page and selecting ‘follow’. That way, you’ll be able to see all the comments that he makes.
Checking your progress
When you reach the end of a step and have understood everything, select the ‘mark as complete’ button. This will update your progress page and help you to keep track of which steps you’ve done. Any steps you’ve completed will turn blue on your ‘to do’ list.
You can check your progress page by selecting the icon at the top of the step. There you’ll see what percentage of the course steps you’ve marked as complete.
Don’t forget to share your thoughts on the task in the ‘comments’ area and ‘like’ or reply to posts you find useful or interesting.
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