Reflective Diary Sample: international marketing module
a) What learning have you gained from the study of international marketing and how this learning has enabled the development of your analytical and behavioural skills. Support with actual examples.
The study of subject of international marketing has positively contributed to my knowledge in many ways, as well as it has increased a range of my skills and capabilities. To be more specific, my knowledge was increased in a way that I was able to analyse a wide range of marketing issues not only on the scope of a single market or country, but also from a global perspective. My skills and capabilities that were developed and improved during international marketing classes and seminars include communication skills, global viewpoint, analytical skills, cross-cultural skills and others.
First of all, from the beginning of the classes I became able to distinguish between traditional marketing within a specific market or a country and a form of new marketing that did not recognise borders between countries i.e. I came to appreciate the scope and depth of international marketing.
Moreover, various factors affecting international marketing such as global cultural environment, global business customs, international political and legal environment were taught during classes in detail that updated my knowledge about marketing, and as a result I also became aware with a range of new issues affecting businesses in general, and marketing in particular that were resulted from globalisation.
One of the important factors, in my opinion, that positively contributed to the learning process was the high level of professionalism of lecturer whose teaching style was efficient in a way that each and every concept and idea was explained by referring to real-life business examples.
I personally found global marketing research more challenging than marketing research that is conducted within a particular market. Because in case of global marketing research the factors that need to be taken into account are significantly more, including local cultural differences that is going to affect primary data results.
The issues of global market segmentation, market selection and new market entry strategies were covered in detail during classes and this knowledge was cemented with the report I had to write as a part of module assessment that addressed the same issues and was very interesting at the same time.
The topics of emerging markets and market behaviour were completely new for me and I found these topics very interesting and informative. As a result I understood that today most of the businesses in developed countries are facing their competition from emerging markets like China and India, and this tendency will intensify even more in the future. Moreover, at the same time, multinational companies from developed countries are seeing opportunities in emerging markets and entering them using various new market entry strategies and this fact also has marketing implications in global level.
The topics of international market strategies and international branding strategies were especially interesting due to the fact that market strategies that proved to be successful within a particular country are not always equally efficient in other countries because of many reasons. I had many opportunities to study these issues on the basis of examples from real business world.
The same principle applies to international branding as well in a way that branding strategies that brought success to the company in it’s home country in most cases would not suffice in global level and alterations to brand image need to be undertaken taking into account cultural differences, history and other characteristics of each Market the company is entering. This particular issue was explored in the best possible way using McDonald’s brand.
My analytical and behavioural skills were greatly enhanced during the seminars of international marketing module. I personally found these seminars very motivating and valuable on several levels.
Firstly, international marketing seminars usually explored business cases that were unique and actually had taken place. In this way I started appreciating case studies and seminars because unlike most of the textbooks and formal theories they were not boring, and also unlike formal textbooks gave me ideas what issues to expect from real work environment, once I join full-time workforce upon completion of my degree.
Secondly, we were encouraged to participate in discussions during the international marketing seminars. This opportunity has not only positively contributed to the improvement of my communication skills, but also taught me the valuable skill of looking at things from the point of view of other people and try to understand what makes them think the way they do.
Looking at issues from other people’s point of view is the skill that I would need not only in my professional live, but I will benefit from these skills in my personal live as well.
b) Discuss, giving examples how this learning and skills will help your future employability.
I have gained specific skills and comprehensive knowledge as a result of international marketing classes and I am sure that these skills and knowledge will increase my future employability and also will help me throughout my career.
I have learned how to think globally, not locally when dealing with marketing and other business issues and I can point to this fact as the cornerstone of my competence that I have gained during international marketing classes and seminars.
My global approach to business issues in general and marketing issues in particular will serve me as a personal competitive edge when competing for jobs with attractive packages upon completion of my studies. Moreover, because nowadays businesses in every industry have become truly global the application of my global business knowledge and skills in my job will help me to get promotions and join senior level management of the company.
My good knowledge of global cultural, political and legal environment which I gained in international marketing classes is best applied in decision making process related to the issues of international market expansion. Moreover, as I am closely familiar with the various new market entry strategies, their advantages and disadvantages I can contribute more to the decision making process of this nature, and because of this it will be me soon who will be the main decision maker in the company.
Because of ever-increasing level of competition in all industries globally marketing researches will be conducted more intensively by companies in order to gather various types of business intelligence. Due to the fact that I have become familiar with global marketing research principles and techniques during international marketing course including primary and secondary researches, I can conduct global marketing research myself in the future, or at least I can advise internal or external research team who is conducting a global marketing research for the company I am working for.
Moreover, my knowledge of emerging markets and market behaviour, multinational market regions, international marketing strategies and international branding strategies will find it’s broad and intensive application during my career, contributing to the profitability of the company at the same time.
As it has been stated above communication skills have been one of the key skills that I have mastered during international marketing classes and seminars. I believe that my improved level of communication skills will benefit me throughout my career as these skills are considered to be one of the necessary skills for managers.
Another skill learned by me during discussions that took place within international marketing seminars is the ability to see issues from the viewpoint of other people be it our colleagues or opponents in negotiations. This skill will help me to gain the trust of people and achieve co-operations from various parties through diplomatically resolving complex issues.
The level of my cross-cultural knowledge has also increased as a result of attending international marketing classes. Today, cross-cultural knowledge is considered to be very important for managers for many reasons. Firstly, cross-cultural knowledge is important for managers because currently in many companies the workforce is comprised from the representatives of many diverse cultures, and the lack of the cross-cultural knowledge will result in misunderstanding. Because I have obtained cross-cultural knowledge during classes I will be able to manage diverse workforce more efficiently.
Secondly, it has been established during international marketing classes that cultural differences do affect on how perspective customers in new markets perceive marketing messages being sent to them. Now that I have cross-cultural knowledge I am able to devise marketing initiative in foreign countries taking into account cultural differences of those markets.
It is true that initially during seminars the level of my self-confidence was an issue and as a result I was not comfortable to put forward my opinions regarding various issues raised. However, because of encouragement from the lecturer and relaxed and motivating atmosphere that was created during seminars I was able to overcome my fear and the lack of self-confidence and in no time I was also offering my opinions regarding the subjects being discussed.
For me this is one of the greatest achievements made as a result of attending international marketing classes and I will further enjoy the results of this achievement when I join the full-time workforce upon completion of my degree.