This week MIM class of 2011 completed some final classes. One of them is Contemporary Global Marketing, lectured by Brian K. McCarthy. Even though this is our first term in the MIM program, everyone did very well and always enjoyed attending this class. What did we exactly do and learn for the past eigth weeks? Well, here you go!
The Contemporary Global Marketing is where the MIM students learn about global marketing from the perspective of the general manager. During eight weeks of class, we discussed fundamental marketing concepts and develop a framework for analyzing complex global marketing challenges. Our specific topics include market research, segmentation, targeting, positioning, differentiation, value propositions, products, brands, pricing, channels of distribution, and promotion.
The class assignments include various learning methods as follows;-
- Reading global marketing cases and sharing short discussions in the course blog (http://mccarthy.typepad.com/mim515/). The interesting cases we read include, for example, Li Ning – Chinese sportwears (http://www.lining.com), Erum Jewelry in Middle-East (http://erumjewellery.com), Louis Vuitton in India (http://www.louisvuitton.com), and the Icebraker- New Zealand’s outdoor clothing (http://www.icebreaker.com).
- Market simulation game This simulation game is challenging, competitive and fun. It brought to life what we were studying, and gave us a realistic sense of what it is like to be a marketing decision maker in a highly competitive industry. We were divided into group of five and each team was hired to run the new personal computer division of a global electronics company. We were responsible for designing and marketing a new line of PCs around the world. This game kept continuing for all eight weeks and we got the winner in the final week. (They got a bottle of champagne as an award!!!)
- Marketing communications presentation Another assignment for the simulation game team is to create and present the idea of marketing communications plans. We did the presentation in the week before the final one. Everyone did the great job- professional presentation with fantastic creative ideas!
- Individual Marketing plan Yes, it is a REPORT- but everyone was enjoying working on it! Why? The secret behind is, for the individual marketing plan, each student had to pick up any kinds of products or services they want to do as a business. This is an opportunity to pursue a topic of special interest to them. And, just so you know, everyone was very happy to work on and express their own dream in the marketing plan!
What did we eventually get from this fascinating class? We can articulate the role and importance of marketing in the success of a global organization. We can utilize a framework for understanding the marketing challenges faced by organizations doing business around the world. We can also Apply key marketing terms and concepts to complex business situations and analyze challenging global marketing situations and provide specific recommendations. We understand what it takes to create a high performing marketing team and how to give a professional presentation. And, we know how to write a marketing plan now!
Therefore, this class is our first step into the real global marketplace. At the end of our final class, our beloved professor, Brian K. McCarthy, reminded us to keep working on these marketing concepts regularly because marketing is everywhere around us and involved with our every-day activities.
Group presentation for marketing communications plans
Group discussion on our last quarter of Marketing Simulation Game
So, right after the class, we started following the professor’s suggestion by doing the first marketing analysis at the first new H&M shop in Portland!