Overview

In Week 7, we will first discuss the additional element of the complexity of marketing—competitive analysis. Care should be taken not to overdramatize the importance of monitoring competition, however, many firms do not give competitors the attention they merit, so some emphasis is needed. A key concept introduced this week is that of market nicher—a specialist in small markets underserved by larger corporations. Many large firms today started out as “nichers” and many large firms of tomorrow are our “nichers” today. The concept of “nichers” and the potential of growing them into larger firms can be exciting.

Then, we will discuss how managers can tap into global markets. In today’s multicultural world, students will have been exposed to products marketed across geographic or national boundaries, so the student’s ability to grasp this concept should be straightforward. What could present a challenge is the extent of marketing planning and detail needed by the firm in making their marketing decisions nationally and internationally.

Module Objectives

In this module, the activities, content, and assignments will guide your learning process to ensure you can:

7.1 Summarize how a company assesses its growth opportunities.
7.2 Explain how a company gains market position.
7.3 Summarize the strategies a company can use to defend its market position.
7.4 Discuss the key product-cycle marketing strategies.
7.5 Explain how companies decide whether to go abroad.
7.6 Discuss the factors that companies consider in deciding which global markets to enter.
7.7 Summarize the strategies companies use to enter global markets.
7.8 Explain how companies can adapt their marketing strategies for global markets.

Module To-Do List

Here's everything you need to do and remember for this module:

READ the selected textbook chapters and case study
- Chapter 17 and Chapter 20
- Case Study: DayTwo: Going to Market with Gut Microbiome
WATCH the selected Video Assignments and complete their associated comprehension questions
- Live Nation
- Unilever's BOP Strategy - Marketing for Global Success
THINK about the Concept Check questions and their connections to the module material and objectives before attending the Live Session
ASSESS your understanding of the module material and objectives in the quizzes related to Chapter 17 and Chapter 20, respectively
- Week 7 Quiz
APPLY your understanding of the module material to the real world by completing and submitting a case report