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International marketing strategy - Essay Example

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Introduction: In today’s international arena, Marketing is an important tool since it contributes greatly to the success of the business and its products. Productivity and sales are largely dependent on companies’ marketing strategies. On the other hand, engineering is also an important aspect as it allows innovation in an organization which aims to bring positive change to boost customer or producer value…
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International marketing strategy

Download file to see previous pages... Now, this effective communication is done by our super-creative marketers. Therefore, it is important that marketers and engineers work hand in hand to effectively deliver what customers want. Marketers know their customers and their goal is to create customer value whereas engineers know their product and their goal is to create producer value. Therefore, when marketers and engineers work together, they yield innovative products that are customer-oriented. In an investigation, it was found that those firms are more successful at innovative product development in which the employees are well equipped with the required skills to strategize marketing as a whole. Recently, a product-development process called Quality Function Deployment (QFD) has been adopted by U.S. and Japanese firms who promotes communication within the core team (marketing, engineering and manufacturing) and changes communication patterns from “top-to-bottom” management to focus more on horizontal routes where core team members communicate directly with each other and come up with better results. One of the greatest examples of integrating innovation with marketing is of Apple Inc., a multinational corporation which is ranked as the world’s most innovative company and who markets its designs and products as the customer’s need. Thus given, the importance of innovation in today’s business world, this paper focuses on how the MSC for innovation can be implemented and applied in other countries in the light of present marketing concepts and theories. Current Home Position of the Market: MSc innovation and enterprise is a relatively new program offered. It is not being offered at any other university in the UK. The scope of this program is very different and unique. However, there are some competitor courses being offered. A search undertaken in this regard unveiled that at the moment there are some 571 PG courses with “innovation” in the title. Most of these courses tend to cover everything related to innovation and have little relevance to the current job market. Many believe that number of courses offered with any relevance tend to be lower than 300. The search results were obtained using all of the following subject areas: Accounting and Finance Art and Design Business and Management Studies Economics Environmental science and Ecology Food Sciences Information Sciences and Librarianship Manufacturing Management Marketing and Advertising Studies Social Sciences Sports Science Tourism and Travel Industries Most if not all are concentrating on single aspects of innovation, whereas the projected MSc Innovation & entrepreneurship course at UWBS aims to cover multiple strands of “innovation” including skills development. The offerings in the West Midlands are more limited and do not include any “business skills ” oriented innovation courses. From this point of view it would appear that there is a gap in the market. Thus there is a dearth of courses being offered in the market that are promoting this particular concept or mode of teaching. They don’t take into consideration the skill requisite requirement by SMEs and neither ...Download file to see next pagesRead More
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