Reflective exercise for studing marketing module Essay

Reflective exercise for studing marketing module - Essay Example My knowledge on the topic of international marketing has improved tremendously as a result of the classes and lecture sessions. I have learnt that the strategies of marketing for internal businesses have become a crucial and cumbersome task in today’s competitive world. Globalisation is one of the most important contributing factors to international marketing strategies. My information was updated to a much greater extent in the areas of international marketing and its impact on global factors to an organization’s managerial decision making, the approaches of entering new markets, designing and developing new products for international markets, the attributes of marketing research internationally, the marketing mix for international business and a lot more. Our group comprised of three members including me. We had diverse cultural and ethnic backgrounds two of us are Chinese and one belonged to Saudi Arabia. Due to the difference in cultural and religious backgrounds I learnt how to communicate and manage a diverse team. We as a team found out that the business rules of International Marketing are not the same as they used to be few years ago. The reasons behind these change of rules and strategies is globalisation and its associated threats and opportunities. I got the information that due to various factors like increased globalisation, technological advancements and increased role of internet, the competition has increased greatly these days in every industry. Due to this reason, businesses have to adopt newer methods and strategies in order to survive in the competitive world and have a sustainable business. I also got familiar with the difference of conventional marketing and international marketing and due to this I realised that the modern marketers have changed their mind sets for global development. In today’s world the traditional ways of marketing are not sufficient for this reason the marketers and the executives need to be more innovative thinkers, create newer and better ideas to market internationally and possess quick decision making capabilities. The concept of innovation in marketing techniques was also highlighted in one of the lectures and I think this is one of the basic requirements for international marketing methods of today’s world. Examples of innovative marketing techniques are video clips posted on social networking websites and viral marketing. The conventional tools for assessing the decision making abilities of an organization which includes the SWOT analysis and the PESTL analysis are found to be quite different from a global business perspective. Important to note, that I studied and analysed that now more number of factors are needed to be analysed and examined in SWOT and PESTL analysis for a global organization. I would also like to accept and appreciate the skills of my teacher who encouraged and motivated us to learn the concepts of International marketing from a broader vi ew point and effectively implement it in the practical world when possible. The lectures, seminars and the reading materials were adequate enough to bring deeper insight in the students and held up to date information. We also studied and learnt to determine the opportunities present in the global marketing with the help of real-life case studies. Moreover, it was studied that the