MKT3130 - INTERNATIONAL MARKETING

Name: Hemmali Narsian Misis No: M00247115 Module Tutor: Dr. Alun Epps Word Count: 1551

International Marketing has been a medium to learn a number of innovative concepts related to Marketing and supporting notions. As we notice the rate of urbanization and increasing dependency on technology, it is interesting to know, how the borders of territories have faded and the people residing across the continents function as a one big World. It is crucial to know how the people set high up at the managerial level cope up with the ever increasing work load and responsibilities. International Marketing implies not just compiling with the rules and regulations of the local economy but also abiding by the laws formulated by international governmental bodies. A set of laws namely, tariffs and taxes, modes of entry, advertising standards are some of the factors that affect the functioning of an Organisation. This Marketing module has helped me analyzed the importance of constant growth for revived survival and increased productivity in this era of globalization. A coin always has two sides and so does this experience, the module exposed the students to the complex nature of marketing and different implications experienced in unusual situations.

Some of the key concepts learnt from this module included, global marketing which stimulated my thinking to think beyond the box and helped me see the complete picture of trading activities all around the world. It was only then that the students were exposed to an environment beyond the typical marketing four Ps and theoretical models. The emergence of globalization, the rate and importance of globalization learnt have clearly justified the complexity of business environment of the multi-national giants usually discussed in class. (Coca cola, Mc Donalds, Toyota and Microsoft for example)

Market Controllable such as Place, Price, Promotion and product were discussed in detail as a part of this module. The importance of the right mix in the changing scenario and the transition of the four Ps into the 7 Ps in certain situations were of great importance. I personally perusing a degree in International Tourism management with Marketing have to research and present my finding on the service industry which apply the 7 P structure. By learning this particular concept, I have been able to offer a new concept to my tourism module tutors which have contributed to better grades for me.

A wide set of differences learnt about standardization and Adaption has helped me to clearly distinguish between the two. During my visits to supermarkets or browsing online advertisements I assess myself by identifying which products were adapted to the local environment and the ones that are standardized in nature. A keen interest has been enlightened on the business section of my newspaper as I try to find out the changing business trends and its potential impact on my favorite brands and their market. This would help me if I work in a research or a marketing firm as it is essential for managers to keep a track of the current worldly situations that can impact their business or prove to be a boon for their activities.

Branding and market segmentation were the most interesting topics discussed, learnt and reflected upon. I have always being conscious about brands and the products around me; television adverts have amazed me ever since I was introduced to the concept of television. Advertising and media is the second choice of profession for me as an individual and would enjoy getting into this field of advertising. International Marketing enlightened me on the concepts of branding, setting target markets and the link between the two concepts. It helped me understand the difference between branding a product in a local market, branding it over two regions and branding it globally.

I have been more conscious of my micro environment after gaining this knowledge and developed a nag for finding how different products market themselves distinguishably in different societies. For example, Pizza Hut, a brand internationally recognized has re-branded itself in several situations. In Dubai, the introduction of Fresh meat pizzas and Zinger Chicken pizzas were a huge success, whereas, in India, similar product range wasnt of a significant importance in regards to the daily sales. Pizza Hut was then forced to study the market preferences thoroughly and launch new pizzas consisting of Cottage cheese, fresh vegetables and local spices. This lead to the success of Pizza hut in the local market and the importance of right branding and targeting the perfect segment was comprehended.

External Factors have always plays a major role in the success of an organization, the degree of implications it can have on an organization situated countries apart is what we have realized in recent times of financial crisis. Political, economical downturns, social, cultural, legal and environmental factors are the main determinants on how a business would function at a particular situation, exposed to a set micro and macro environmental factors. A set of four modules are taught per year and this year it is two tourism modules and two marketing modules. The other modules require constant case- reading sessions which demand critically analyzing the situation of a given product, Firm or Place as a destination. Learning about the external factors has helped me to closely assess the effects of the external factor on a given case-study, thus making the formulation of a recovery process unproblematic. Risks are associated with everything we do in life, Business risks however refers to the risk that a company will not have adequate cash flow to meet its operating expenses. International marketing has helped me understand the various types of risks linked with internationalization and globalization of a firm. The effects of demand and supply of a product in an economy and its potential risk on the firm exposed to such an environment and its valuable resources. This module has always stated the problems the internationalization can have and then suggested recovery process models. It was similar in this case, as we learnt the re-branding model that helps a product to come over the adequate losses to a profit making phOverall, International Marketing has encouraged me to think out of the box, include Creativity and innovativeness in whatever I do and display my uniqueness to the world. Amongst the various key concepts learnt from this module, the most important ones that would help me in my phase of employment are the knowledge of globalization, branding and market segmenting. Marketing is the only profession I can think of to pursue in the future; in that case, my work profile would demand me to analyze various consumers, trends and preferences, shopping habits and demographics. These concepts have helped me to relate to various concepts in practical life which are often shown in the news channels. My learning styles have changed considerably as I am more aware of my environment and know what the causes behind various happenings are. The current learning styles involves a series of steps including information exposure, perception in the right form of light and keeping in mind the various factors that can influence the information, and finally

differentiating between the relevant and the irrelevant data. This allows me to present my facts and thoughts in a highly sophisticated manner conveying the right message and having the right impact on the listener. International Marketing has certainly enhanced my level of perception and acceptation of things or situation happening in my immediate environment. I can definitely regard myself as a informed citizen and have my say on the current happenings in fields of advertising, media, marketing and world changing trends. These have always been some keen areas of interest and the overall course of marketing learnt this year has ignited a passion to learn about Critical marketing and critical reflections on consumer research which will involve deeply analyzing the various marketing models and formulating new ones in my years of PHD education in Marketing. Marketing is a thread which runs through various other functions of an organization including Management, sales, finance, public relations etc. I have personally developed a deep interest in the discipline and encouraged every student to learn about the dynamic nature involved. Therefore, I would like to thank Middlesex University to give me a chance to learn about this module, it has certainly increased my self confidence in terms of public speaking and I have emerged as a rational marketing follower. My module tutor has played a major role in stimulating my interest in marketing for the past three years and I meticulously appreciate and thank him for his persuading conduct adopted towards his students. It was only due to his endless efforts to bring new examples and case-studies to class every week and making us analyze it in the most systematic and comprehendible manner, the students of MKT3130 are able to achieve what they have today.