There is no geographical boundary of a business idea; the world has become a village. Globalization has made the globe a smoother place to carry out business operations irrespective of diverse political, legal and socio-cultural setup in hundreds of countries. However, there is a greater need of an intelligent understanding of this diverse nature and customizing the business process in order to sustain. As far as Indian business environment is concerned, post-liberalization scenario has drastically raised the need of better understanding of the way of doing business internationally. And management education does play a pivotal role here.
With a sole purpose to enlighten the students with how marketing effort works in international context, a guest lecture was organized at MARC School of Business on 25th March, 2013. Ms. Kaya Choudhury, Consultant with Forum International, Germany addressed the students on the essence of International Marketing. In the interactive session, she presented a vivid picture of international marketing. Understanding, devising and executing a global strategy to accomplish a successful international marketing program needs a holistic effort that integrates multiple functional understanding by encompassing political, legal, cultural, Economic, Social and technological condition that prevails in any market or country. With reference to a number of examples in this context, Ms. Keya also emphasized the need of well-coordinated effort in executing the 4P’s of Marketing in international context.
It was a very engaging session with Ms. Keya Choudhury. Moreover, the students of MARC were jubilated to learn some important lessons of International Marketing. And, this can be inferred from the three articles written by the students of MARC School of Business wherein they share their experience and learning from the guest lecture. Read below the students’ verse of their experience.
Article By Varsha S.
Yes, Marketing can be International too!
Another busy day at campus, I notice there is a one-hour scheduled session on “International Marketing”. I wondered what would be ‘international’ about marketing. Being unaware of the existence of such a discipline within management studies, I gained valuable knowledge in a brief session delivered by Ms Keya Choudhary, a consultant with Forum International, Germany.
In her presentation on how to be successful in international business, Ms Keya Choudhary mentioned that the common behavior in all successful businesses is that they apply strategies differently. Giving the example of the Australian tourism strategy, she explained that to implement a global strategy, it is important to make all the stakeholders know about the strategy.
Ms. Keya went on to narrate the international operations of DHL and how it serviced two European teenage girls (one including Keya’s own daughter) who had to manage their ways and means after losing their credit cards in Latin America. While a large logistics company like DHL has to deal with a variety of complex operations, its marketing efforts too need an international approach. According to Ms. Keya, the 4 P’s of marketing – product, price, promotion and place requires careful coordination as they vary between regions and countries. Another aspect touched upon was the cultural communication, which differs from country to country.
Apart from this, marketing in a foreign country requires a good understanding of government policies, economic environment and local laws. This information session by Keya Choudhury gave me and my classmates a good insight on the basics of international marketing strategies, overview of the marketing mix in a global context and an international perspective on cross-cultural communication.
To conclude, the session helped in understanding that it is necessary to go beyond the known boundaries to grab the unlimited global opportunities. The joint program on International Marketing offered by MARC School of Business and Forum International, though a little expensive, is worth every penny.
Article by Dharunuya Keshavan:
When you look at her, clad simply in semi Indian wear, you would assume that she is yet another tourist who has come to explore the Hidden India. But when she starts talking, you realize that there is a powerful mind behind that sweet and simple exterior that explores International Marketing to new levels in India.
Ms. Keya Choudhury who is a representative of FORUM International had come to give an introductory lecture about one of its programs- International Marketing, a specialization course. We were pleasantly surprised when she enthusiastically announced that this was not a “regular lecture”, but a “nice way to introduce you to activities” and also invited us to “jump in”, we were convinced enough to make an attempt to listen to her. And it was a nice way to be introduced to Marketing activities.
Two young girls, barely 20 years old set out to an adventurous trip to explore Latin America all the way from Germany, end up in trouble because they lose their “visa” card. Which service would you trust?? Is it the reliable and good old “postal service” or “DHL”?? Most of us would not have mailed anything overseas. She said that they opted for DHL, because they have better security for the products, speedy delivery and reliability. And also because of their brand value all over the world which has gained them such trust among people. DHL is a global player with different and effective strategies. They understand the differences across various countries and adjust their cost accordingly.
It’s all about having International perspective. It’s about understanding the difference between various countries and understanding the mentality of different people like, how Germans are conservative, Indians are skeptical, Americans are exploring. A proper strategy can make or break a company at the global level.
4 P’s: Price, Products, Place/Distribution, Promotion/ Communication
The example of VW Beetle which was one of the cars at good quality but at an affordable price was very helpful to understand.
Its marketing where communicating with the customers is the main aim of the company. So which way of communications is the most effective in conveying the message? Also how does it vary from region to region? Does it really vary? Aren’t people same all over the world?
UK- Skeptical but reacts well to humor
French- Social and sharing sites to blogging
Brazilians- Highest number of online friends with average of 481/person
Japanese- least with 29/person
It really was surprising to know that variation of such great extent existed among people in various parts of the world.
When she finished stating all these facts, we were once again reminded that there is a large world out there. Then she shared the course details with us, showing books related to the course which had some very interesting topics and also elaborating about the time period of the course and the other essential details of the course. By the end i guess that many of us, who are interested in marketing were hooked up enough to start thinking about how this course might help us in our career, and also made us realise that we need an edge like this in today’s world where globalization is a part of the business and Global marketing knowledge is very essential!
Article by Debajyoti Banerjee:
I would like to share my experiences of International marketing session that was conducted at MARC on 25 March 2013. Keya Choudhury, Consultant from Forum International Training center presented a vivid picture of how international Marketing is being conducted nowadays through modern strategies. A video clipping of how DHL conducts business throughout the world which I think is very pertinent to this lecture – how DHL has diversified its business across the globe, how they strategize to provide services, how they deliver the product and lastly how they ensure customer satisfaction.
It was emphasized that smart strategies are the pillars of successful marketing in an international environment. Marketing can be effective when the FOUR Ps (Product, Place, Promotional Communication, and Price) are well-coordinated and collaborated with other dimension of business.
This Session will immensely help post-graduate students like us who are interested to take up marketing as their core competency in the international business arena, working professionals who want to grow their careers in International marketing, Strategy Planning etc.
I would like to thank MARC School of Business for arranging such an informative session on International marketing. If you feel interested after reading this blog do check in to http://www.forum-international-training.com for more details.
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