The GDP( Gross Domestic Product) is also used to evaluate how well a country is doing based on the goods and services produced. This is also very important to know.

Connected to export marketing is the political and legal aspects of the law. The is very important as every country has their own rules and laws that must be abided by. Choosing not to abide by these laws and regulations can hand you into deep trouble. So, before doing business in any country especially a foreign country abroad extensive research should be done. For example, what kind of political system do they have in place? Are there any risks? Are there any tariffs that can prevent you from exporting your products to that country? 

There are many questions that have been answered in chapters 1-9. This gives us a brief overview of what to expect when in the business world. As long as I remember and build on what we learned i will be able to advance and succeed in my career.

It broadens up your knowledge for knowing how to run and operate a business. Export Marketing is all about communication, which leads to improving presentation skills both individually and while team working. Thus, the world is build up in a way that marketing is very important. It is part and parcel of our everyday life.

 

 Example: Export marketing can be such an expensive part of a business and is so critical to its success, companies actively seek good marketing people. There are a great variety of jobs available in the marketing profession. These positions represent only a few of the opportunities available in the marketing sector. 

 

The Chapter 3 is a lesson reviewing knowledge of INB220 and teaching how to bring the knowledge to the real business. As a very first part of international exporting business, Understanding and communication with new target market can reduce risk and cost of new business. Some key elements such as time, customs, gift and face will create a smooths business environment. And, the most important skill is negotiation, it is a true art like a big pearl on a necklace.

 

The chapter 7 indicates the most important part in any successful international exporting business. A brand is the soul of the product or the service. The brand creates a certain expectation in the minds of customers. It is intangible, and it can let customers have loyalty on it. In my opinion, the brand can be a kind of extra service of tangible product or intangible service, without any cost. Some key points such as logo, word, design and package can help to bring a Mind-Implanted to the customer. One of the most powerful part of the brand, is a good defense to against the competitor. 

 

The chapter 8 gives a picture of global international business system. In class, Professor focus on international marketing channel. Doctor Rania Nafea describe multiple channels with advantage and disadvantage discussion. Logistics and sales are the two part require big cost. The cost is the point that investors or CEO cares about definitely. Like short channel distribution and long channel distribution, both of them have good side and weakness. A good tool to pick up the right way, is by using Cost-plus method to do cost calculation. Once the cost low down, the interesting of investors or CEO will increase, and the business could more easy to success. 

 

Globalization is not a concept create by people in this age. In history, first globalization starts at the Mediterranean Sea thousands years ago. Modern industry revolution gives people an opportunity to quickly share all the resource and the production in the worldwide. Under the global economic system, completely international business system is one of the most important method to reduce the cost of globalization, and the world can corporate more effective. Students of international business program have good chance to success in life and career. 

For example, I took part in a marketing project that will surely benefit me in the future. The project gave me an idea of what to analyze and the different factors for conducting an analysis report. The capstone project felt like an actual company project as we use real data from the company to analyze the different target markets. This project has given me a head start of what to expect if I were to be employed in a marketing company. 

Secondly, as a international business major, all materials covered played an import part in my future career. To do business internationally, you need to know the outside world and how everything operates. That includes rules and regulations, the marketing structure, and how to sell yourself. Every concept of this course will help you in some way or it wouldn't have been taught. 

Firstly, one of the important concepts is about doing research. To start a successful business, you should first do some research to understand customer and different culture habit etc. Doing a right research will prevent you to enter the wrong market or target the wrong customer. Hence researching play a significant role in every business.   

Secondly, the consumer and business markets. From this chapter, I learned that how companies develop brand images for consumer markets and also the characteristic of international business markets. How entrepreneur brings their products to the global market by different kind of promotions. Promotion is more inclined to the internet because customers around the world can access the internet in nowadays. In shorts, export marketing course could be helpful for students who interested in doing international business in the future.   

Export Marketing has been a very thorough and practical course.  Through its content I have retained valuable knowledge in the basis of marketing on an international level. From my previous knowledge of the 4 P’s of the marketing concept, we explored the practical use of them through actual distribution, pricing calculations, and different varying factors that affect global marketing negatively and positively. 

 

Distribution: long channels and short channels helped me to better understand entrance strategies companies use for products and services they are taking global.  Once established in a domestic market, the growth in marketing that is necessary to take a product to the next level involves several different decisions that must be executed properly to be successful. Entering a new market through Joint Ventures, Agents, Distributorships etc. are realistic options that must be taken into account.  Depending on the company/product/service, the best choice will vary and it is crucial that all factors are taken into consideration before making an entrance strategy decision.  I enjoyed this section of the course as I found it informative and important to a potential career in marketing, business strategy or even any entrepreneurial ventures I may participate in, in the future. 

The Export Marketing project has been another learning process that I felt will be key to my success in the business world.  From culminating all of the themes reviewed in the course, to simply working with a team and trying to cooperate with different personalities and working styles, the project has been an eye opener of what to expect in the professional world. Although the presentation has not been presented as yet, it will be great experience to present a full export marketing plan with feedback from the professor and classmates.  Presentations are always useful experience to learn from as the business world requires presentation skills in all sects of the industry.    

The two most important I feel is distribution and economies of scale. This two are the most important things that I feel are essential. This course has been helpful is making me understand how distribution takes place and how you should get your product to the end customer, normally many business do make mistake in selecting the best channel, this could really increase business costs and also could be very effective if the ideal channel of distribution is used. This could also be helped with the JUST IN TIME management where products and raw materials arrive right when needed. Getting the product to the customer in an international market is often difficult and could also harm the reputation if the company is not committed to it, so knowing where and how many agents, whole sellers and retailers should be used in the channel.

Economies of scale is really important that I have learned through this course and how it could benefit the business in reducing average unit cost, with producing more units, at a lower cost and using through a fewer resources. This would totally be helpful for me in future as I could apply all these terms in real life, where I could use methods that could help me achieve economies of scale in jobs or in business.

In conclusion from the content of this course, this course is really a great help in export marketing in future, when we will be working in the industries, and all the important things that we have learned. So this course in focused on international marketing and export marketing, so how should you research and how should you analyses the data in order to market the product.  

 This subject states that how effective you will take your business internationally and what marketing steps you need to keep in mind. This course also helps me to understand the distribution of long channels and short channels for the company’s products how to take it globally. It also helped me to analysis how to enter in markets through Agents, Distributors and Joint Ventures. The projects are very beneficial for analysis and explore in real business career. By our presentation it helps to understand the calculations, budgeting, pricing of product, target customers, entering market, etc. 

Apart from that, I have learn is the political system and what are the laws and regulations of our research countries. Basically, utilizing marketing skills reflects the more opportunities to represent your product to customer satisfaction. However, this course also focuses on the importance of culture of different countries to do the business. All in all, I found this course more important to make good business Strategies and marketing skills.

 

Especially, I have two things that would be crucial for me. First, since I’d like to work in a company as an expatriate in Canada, I must need to understand cultural dynamics and differences in order to adjust to the working environment and to work effectively. Even if everyone has a certain level of skills and knowledge, we cannot collaborate well without better understanding. Also, I’d like to start my business here, so I need to know the laws, regulations, what costs I have to pay, how much it would cost, what distribution way is the best to reach larger people, and so on. 

 

In order to know the market, and to work beneficially (to get knowledge about cultural dynamics and differences as I mentioned in the previous paragraph), it’s necessary to do my own research. This is my second important thing that I learned in the course. Steps in the marketing research process are not only beneficial for businesses, but also for people’s lives. We need to define the problem, ask other people’s opinions/ideas, try to find the useful information by ourselves, and evaluate things we had and utilize in our lives to make them better.

 

I believe that those two things what I learned through this course are useful for my future career and my life.

In this course, I have learned different distribution strategies, expanded and applied the knowledge that I gained in this course in my two other classes. This course taught me how to develop and execute a plan for building and distributing a product. I have known the channels of distribution and what agents’, wholesalers, and retailers roles are. Entering into an international market is so hard and reaching customers is harder. So, this is when this course becomes helpful because it teaches us when, how and what channels we should use in our business. These options include working with an agent, wholesaler and retailers, or agents to retailers directly. 

Another thing that we learned in this course is when expanding our business globally to a new market we must know how to best enter the new market. This can be done using partnerships, joint ventures, buying a facility, or modifying the products to fit the target country. Setting up a price is another important aspect that we learned in this course. We have to put in mind the CIF cost, logistics cost, warehouse cost currency exchange rate, purchasing power, shipping cost, documentation, tariff and tax cost on top of an appropriate margin of profit.

In conclusion, I just want to say that this course is useful and it is one of the most important courses in international business program. This course equipped us with the required tools for success in this field

 

For me, as someone who wants to pursue a career in international marketing, it is important to understand the cultural environment of the foreign country I will be conducting business with. Understanding things like the way people in a specific country perceive verbal and non-verbal communication, using the Hofstede factors to differentiate the different cultures and accept the factors that define the country’s culture as a whole should all be taken into consideration before trying to conduct business in a different country. By taking the time out to research into these cultural factors and grasp them, it would be a benefit to any foreigner who wishes to conduct business in the country.

 

For an international exporter, it is important to understand how to move products into certain markets. Determining whether to adapt an existing product in a new market, design a new product for a new market or design one universal product for every market the company plans to enter into. This is an important aspect of export marketing because companies must ensure that the product being introduced to a new market is satisfying the needs of the country, and if it isn’t, then the necessary changes must be made to these products. Such factors can create a dramatic difference, and as I want to be in the international marketing field, these issues must be taken into consideration and be understood.

Firstly, As far as I am concerned, Export marketing has played a crucial role in understanding the importance of practical knowledge when starting a business in international markets.

For examples, what barriers entrepreneurs would have when establishing business relationships with international markets, what potential conflicts entrepreneurs will be facing in the local markets and so on.

Secondly, by doing a huge group report, I have learned how to communicate with different people from different back ground which required me to have analytical thinking to understand different ideas and deal with potential conflicts. And also, through doing lots of research, I realized that there are uncountable market opportunities to exploit to be successful in international markets so I got some general ideas of achieving my goal in the future. 

I am pretty sure that I am going to utilize various practical knowledge that has been taught from Export marketing when I start my own business in international markets so that I can deal with any potential problems in business.

 

This semester I learned prior to introducing a product or service to a new market, it is imperative to conduct proper research. It is essential to know all aspects of a country and target market that will affect sales and profit. For example, as my group and I were conducting our analysis of South Korea, I learned that factors like demographics, income, and social status affect who can and will buy our product. I believe that with enough proper analysis, it will be much easier to enter a new market, thus reducing the risk of loss. 

 

Export marketing also taught me the importance of delivering a good presentation. I learned that in order to acquire the trust of our audience, it is essential to speak with confidence and engagement. Presenting is vital in all business fields, often we will be working in teams. I learned to become a more leading person who makes decisive decisions and helping my team members to further develop their presentation skills. 

 

All these new qualities that I gained from the export marketing course will help me integrate into the work force much easier. I will have an advantage when it comes to marketing knowledge, entering a new market, and delivering good presentations. All these positive aspects will make me more attractive to business recruiters, therefore helping me advance higher in my career.