International Marketing

Credit: 0.50
Course Preface
Core Code: 37-01-00-00-130
Printable Version: International Marketing (pdf)

Course Description
An introductory course, which will teach concepts of entry-level marketing business, functions in an international marketing environment. The following skill standards will prepare the students in International Marketing: marketing and business fundamentals, selling, financing, product/service planning, information management, buying, distribution, pricing, promotion, risk management, economics, communications, marketing math and marketing operations. Students taking marketing classes should have the opportunity to participate in the DECA organization (student marketing leadership association). DECA related activities and curriculum can be used as approved part of all marketing classes.

Core Standards of the Course

Standard 08.7999-01
Students will understand the impact of economics, cultural, and political environments of global business.

• Distinguish between domestic business and international business.
• Explain the reasons why international business is important.
• Explain how historic factors influence current business activities and trade relations.

• Explain the components of the international marketing environment.
• List examples of exports and imports.
• Explain the purpose of trade barriers.
• Identify differences in doing business in other countries.

• Identify ways different countries cope with the basic economic problem of scarcity.
• Explain the steps of the decision making process.
• Explain opportunity costs.
• Explain the benefits/values relationships involved in making opportunity cost decisions.

• Explain how culture sets the boundaries of behavior.
• Identify observable and hidden components in a culture.
• Explain how every culture has multiple subcultures.
• Explain the family influence on culture.
• Identify other influences that shape a culture
• Describe the role of language in business transactions.

• Explain the purpose of a political system.
• Identify the benefits and concerns facing a multi-national company.
• Describe laws that are created to protect workers and consumers.
• Describe the techniques governments use to encourage global business activities.

Standard 08.7999-02
Students will understand marketing/business concepts.

• Explain how to begin a sole proprietorship.
• Identify the main characteristics of a corporation.
• Describe attributes of a multinational company.
• Explain the differences between direct and indirect exporting.
• Identify the methods for getting involved in international business.

• Explain the process of becoming an importer.
• Describe details involved to find and purchase products in demand.
• Explain the exporting process and the barriers involved.
• Describe balance of payments with balance of trade.
• Identify products that are considered pure competition.

• Describe the process used in international business transactions.
• Identify the factors that affect the value of a country’s currency.
• Explain how currency is affected by supply and demand.
• Explain the duties of the International Monetary Fund.
• Describe the main types of international business transactions.

• Describe the characteristics of civil and common law.
• Explain the term liability.
• Identify differences in property rights internationally.
• Explain trademarks used as protective means for creative works.
• Identify each component of a valid contract.
• Describe the function of the International Court of Justice.

• Explain the characteristics of a manager.
• Describe the four aspects of the managerial process.
• Identify managerial ways to motivate, lead, and control.
• Explain the organization of most businesses.
• Describe the differences of domestic and exporting companies.

• Explain why unskilled host-country workers fill positions.
• Describe the four human resources management approaches.
• Identify how international companies recruit employees.
• Explain the personal characteristics that interest employers.
• Describe what causes employee failures.
• Identify ways to motivate employees.

• Explain ways to plan for personal career development.
• Identify the five factors that affect career choice.
• Explain how industry trends can affect career choices.
• Identify the seven important elements to a resume’.
• Explain preparation needed for a successful interview.

• Describe the contrast in domestic and international business environment.
• Explain what an icon are meaningful across cultures.
• Identify challenges to global information systems.
• Explain the pros and cons of primary and secondary data and the trade-offs.

Standard 08.7999-03
Students will understand marketing in a global economy & financial management.

• Describe the difference between consumer and organizational markets.
• Explain how communication and technology creates marketing opportunities.
• Identify the phases of the marketing process.
• Identify the four components of the marketing mix.
• Explain the seven sections of a marketing plan.
• Describe the four factors of the marketing environment.
• Explain how psychographics affect purchasing choices.

• Identify types of consumer products.
• Describe services used daily by individuals and businesses.
• Explain the new product development process.
• Explain how new product ideas are researched and marketed.
• Explain the purpose of a test market.
• Identify various global and generic brands used by companies.

• Describe the factors that influence the amount of cost of an item.
• Identify the steps used to calculate the markup of an item.
• Explain the difference between direct and indirect distribution channels.
• Describe the five functions of a wholesaler.
• Identify types of retailers.
• Explain the services provided by global business intermediaries.
• Identify the qualifying elements need to adequately package a product.

• Explain the communication process and how it varies culturally.
• Identify the main promotional activities.
• Describe the advertising planning process.
• Describe the steps of the personal selling process.

• Identify social risks that arise from cultural differences.
• Explain how economic conditions can affect international businesses.
• Explain the steps of the risk management process.
• Identify the five elements of insurable risks.
• Describe three main risks covered by Overseas Private Investment Corporation.
• Identify common methods used by global companies to reduce their risk.