Intro to International Marketing

Go to Course: https://www.coursera.org/learn/intro-international-marketing

Introduction

## Course Review: Intro to International Marketing on Coursera In an increasingly globalized world, understanding international marketing is crucial for any business aspiring to expand its reach and influence. The course "Intro to International Marketing" on Coursera offers a comprehensive introduction to the fundamentals of international marketing principles, combined with innovative cross-industry strategies that empower organizations to thrive on a global scale. ### Course Overview "Intro to International Marketing" effectively combines two powerful subjects: International Marketing and Cross Industry Innovation (CCCI). This dual focus not only lays down a solid foundation in marketing but also explores the strategic pursuit of international expansion and collaborative innovation across different industries. From the outset, the course sets a clear agenda for learners, emphasizing that CCCI will be a recurring theme throughout the curriculum. ### Syllabus Breakdown The course is structured in three primary modules, each covering essential concepts: 1. **What is Marketing?** The initial module introduces the foundational concepts of marketing, allowing learners to grasp vital terms and practices. The notion of “Noon Nopi,” a Korean term meaning "Eye Level," is a key takeaway that frames marketing as the process of aligning business perspectives with consumer expectations. This module provides valuable insights into the components of marketing - product, price, place, and promotion. Cultural comparisons are also addressed, helping learners appreciate how marketing strategies must adapt to various cultural contexts. A highlight of this section is an interview with Mr. Jeongseok Lee, Vice President of Brand Management at LG Electronics, where he discusses international marketing strategies and the challenges faced in diverse markets. 2. **What is Marketing Strategy?** In this module, learners dissect the fundamentals of marketing strategy and equip themselves with tools to avoid marketing myopia—a common pitfall. The VSA framework, which helps identify weak market signals, is introduced, alongside the innovative concept of "Transing," which offers a strategic approach to navigating corporate change. Notably, this section brings in real-world insights from professionals, including discussions on how LG and Swarovski leveraged cross-disciplinary collaboration for innovative product development. 3. **What is Branding?** The final module dives into brand management, assessing its critical role in international expansion. The ASIANA COBRA paradigm presents a contemporary lens for analyzing branding across different regions by also considering the origins and broader implications of brands. This innovative approach enriches traditional branding discussions and encourages learners to think divergently when entering new markets or industries. ### Learning Experience The course is designed to be interactive and engaging, with video lectures, interviews with industry experts, and case studies that provide a practical context to theoretical concepts. Each lesson builds upon the last, ensuring that learners emerge with a coherent understanding of international marketing and its inherent complexities. ### Recommendation I wholeheartedly recommend "Intro to International Marketing" for anyone interested in delving into the world of marketing on a global scale, whether you're a student, marketer, or business owner. The course not only empowers you with invaluable knowledge but also encourages innovative thinking that can apply directly to real-world scenarios. With its engaging content and expert insights, this course will equip you with the necessary tools and strategies to navigate the multifaceted realm of international marketing successfully. Sign up today on Coursera, broaden your marketing expertise, and prepare to take your business to new heights internationally!

Syllabus

What is Marketing?

What is “Marketing”? In this first lesson you will learn the concept of Marketing and of the components involved in its effective execution. The most important concept and word that is introduced in Video 1.3 is "Noon Nopi" which originates from Korean and means "Eye Level." Marketing will be defined as companies' attempt to match their eye level to those of consumers. In Video 1.4, the 4 main executional tools of marketing, product, price, place and promotion are explained. In Video 1.5, we learn what culture means and how to compare cultures across countries along dimensions that are similar (Etic) and those that are fundamentally different (Emic). The lesson ends with an interview with the Vice President of Brand Management FD, Global Sales and Marketing Company at LG Electronics, Mr. Jeongseok Lee. He explains LG's international marketing strategy and challenges faced such as with innovations created in Nigeria, India and Indonesia.

After completing Video 2.1 successfully, you will be able to explain marketing strategy basics and avoid marketing myopia. You will also be able to use the VSA framework tool in order to find weak signals and help your company survive market tsunamis. Next, in Video 2.3 you will learn a key concept called "Transing" which is a strategy for coping with change in the corporate environment. We apply "Transing" not only to brands, such as Starbucks, but also to individuals, such as Professor Dae Ryun Chang to illustrate how we can transition when aspiring for loftier long term goals. Transing then sets you up for Video 2.4 and the core concept of Cross Industry Innovation -how companies can source ideas or expand into different industries. In the last two videos, you are given the opportunity to hear from two experts in the field: (1) Mr. Siwan Ryu discusses how Mosquito Away, a major new product was developed at LG Electronics with cross-disciplinary collaboration and (2) Ms. Hye-Won Lee talks about how Swarovski's new product ideas such as wearable jewelry was sourced from other industries.

This lesson will introduce learners to the important concept of brand management at its various levels. It starts by examining the fundamental functions of brands (Video 3.1). Then, we derive the implications for branding for companies going abroad (Video 3.2) in a "Cross Country" growth path. Finally, we discuss how companies entering into new industries should think about brands especially about whether or not to extend brands in a "Cross Industry" growth path (Video 3.3). Learners are also introduced to the ASIANA COBRA paradigm that allows brands to be analyzed in a broader than usual perspective that includes, the brand, the company, the country of origin and the region. Although it originates from an Asian perspective, it can be easily applied to other regions such as North America, South America, Africa or Europe.