International Business Development Manager >>
International Marketing Manager >>
Market Research Analyst - World Market>>
International marketing is the process of planning and executing the promotion, distribution and sale of products and services to meet the needs of World customers. This includes identifying target markets, assessing the needs of World customers, evaluating competitors, discovering market niches, adapting the product or service for the target market, launching the product and creating customer awareness through advertising and promotion.
International marketing occupations are usually entirely focused on World markets. Typically, the most senior position in this career stream is the International Business Development Manager. This is the person with overall responsibility for discovering new markets and developing market entry strategies. The International Marketing Manager is responsible for managing marketing operations and further developing the market. Some large companies allocate this responsibility on a regional basis, so there might be separate managers for Latin America, Europe and Asia, for example. Others assign responsibility for particular product lines, with each manager having global responsibility for that line of business. Small-and-medium sized enterprises (SMEs), are unlikely to have such specialized staff. They tend to place these responsibilities on senior managers of the corporation, who may split their time between domestic and World markets.
Regardless of the allocation of overall responsibility, there are a number of specialized occupations in market development. They include Market Research Analysts, who document the characteristics of specific World markets, Product Designers who adapt goods and services for export, and Marketing Representatives who support the work of marketing executives by performing specialized tasks such as organizing trade show participation.
In this guide, “marketing” is distinguished from “sales” on the basis that the former operates at the market-wide level, whereas the latter is focused on closing sales contracts with individual buyers. In some smaller organizations, sales and marketing functions are combined, and as companies grow, these functions tend to become more specialized.
Trends
International marketing has changed dramatically over the past several years. Falling trade barriers and the globalization of business has substantially liberalized market access. Many countries that used to pursue policies of state ownership and regulation have relaxed their regulatory structures to allow private ownership and to encourage competition. While these changes have occurred all over the world, they have been especially pronounced in Latin America and Eastern Europe. Marketing professionals are expected to stay abreast of these trends and to recognize situations where they create business opportunities.
The rapid growth of trade combined with increased competition is also driving a trend towards the use of partnerships and joint ventures as international business vehicles. Many US businesses have realized that they need to establish a strong local presence in World markets to succeed. Partnerships and joint ventures with local companies make it easier to overcome cultural barriers and gain rapid market entry. Partnering requires different operating styles than arms-length transactions, and this trend has created a demand for new skills.
Rapidly advancing information technology is another important trend affecting the marketing function. A few years ago, many marketing professionals spent a significant part of their time in the library. Today, electronic information sources such as the Internet, supplemented with databases available on CD-ROM, mean that much of this work can be done in the office.
^ TopInternational Business Development Manager
The International Business Development manager is responsible for discovering World markets for the company’s products and for formulating and executing market entry strategies. This position is found mainly in large companies. In smaller companies the Marketing Manager or other senior executives may perform this function.
Market entry includes forming partnerships and alliances, arranging acquisitions and mergers, negotiating distribution agreements and setting up Greenfield investments. The Business Development Manager acts for the company in negotiations with partners, clients and governments. This includes negotiating tax concessions from various levels of government in the host country.
The International Business Development Manager is responsible for establishing a vision of oversees opportunities, developing strategic plans for exploiting them and leading teams of employees in their execution.
Qualifications
This is a senior position requiring a combination of advanced studies and extensive experience. A Bachelor’s degree in business supplemented by at least 10 years of experience is the minimum, but new entrants are more likely to have an MBA with a specialty in international business.
Skills and Knowledge
The International Business Development Manager requires a detailed understanding of the international trade environment, including legal, economic, financial, regulatory, political and cultural aspects. It is particularly important to comprehend the effect that cultural values have on product demand and on business practices.
Analytical skills are required to evaluate market reports, trade statistics and other quantitative information. The manager is expected to integrate information from many sources and to synthesize strategic plans.
The manager must also have a solid understanding of the company’s products, what their strengths and weaknesses are, and how they can be adapted for World markets. For some products, this requires detailed technical knowledge.
Strong interpersonal skills are required as well as a good understanding of the principles and practices of conducting negotiations and achieving results through persuasion and diplomacy.
Presentation skills are required to make presentations to senior managers and investors. Discovering a market opportunity is only the beginning. The manager is then expected to convince senior managers to allocate the necessary resources and to give priority to proposed ventures.
The Business Development Manager also requires an instinct for assessing customers, competitors and potential partners. He or she must be able to quickly separate serious prospects from a large number of business contacts.
Aptitudes
Candidates for this position must be strategic thinkers, capable of conceiving global strategies, promoting a shared vision of business opportunities, selling those ideas to senior management and then motivating staff in their execution. The ability to manage time in the face of multiple competing priorities is essential.
This position can be very demanding in terms of personal and family life. Extensive travel is involved and constant time zone changes can have significant health impacts.
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The International Marketing Manager has overall responsibility for developing World markets and managing the company’s marketing activities. This job is most common in large companies, especially those selling consumer products. The manager usually oversees global or regional marketing programs, and leads product launches. He or she could also be assigned overall marketing responsibility for a specific product line. In general, the larger the company, and the more diverse its product line, the more likely there will be a division of responsibilities on geographical or product lines. These distinctions do not affect the educational requirements, skill requirements and necessary aptitudes described in this guide.
The manager oversees the work of a variety of specialized professionals. In a large organization, subordinate areas would include Market Research, Product Adaptation and Partner/Client Identification. In smaller companies, the Marketing Manager might assume these responsibilities personally.
The manager visits target countries, attends trade shows, and develops advertising and promotional material. This responsibility includes consideration of restrictions to market access, financing and risk analysis.
Qualifications
In the past, many International Marketing Managers learned their marketing skills on the job, often having started in product development or manufacturing. Today, employers seek specialized educational backgrounds.
A minimum requirement is a Bachelor’s degree in business, but an MBA with a specialization in international business, marketing or economics is generally preferred. If the manager is responsible for a technical product line, an engineering degree may be preferred and many top executives in this field hold both engineering and business degrees. At this level, ten years or more of progressively responsible experience is also usually required.
Formal training in a second or third language is also highly desirable for this career path. For casual contacts, World counterparts will appreciate even basic skill or effort to communicate in their language.
Skills and Knowledge
International Marketing Managers require a broad understanding of the international trade environment, as well as detailed knowledge of the marketing environment in the target market.
These fundamental skills underlie the application of more technical capabilities, including the analysis of consumer and buyer behavior, trade flows, industrial structure, competitor strengths and weaknesses, distribution channels, and financial and regulatory institutions.
The manager is expected to have the communications and language skills needed to quickly establish rapport with potential customers, partners, agents, financial intermediaries and logistical providers in target markets. He or she must have a detailed knowledge of the techniques used for advertising, sales promotion and new product introduction.
Where partnerships or joint ventures are involved, another essential skill is the ability to assess the technological and human resource capabilities of the counterpart and to decide what support from United States will be needed and accepted.
The ability to express oneself in writing and in personal presentations is another critical skill for this position. The manager must also be equipped to lead and motivate subordinates and to promote teamwork.
Aptitudes
The position of International Marketing Manager appeals to individuals who enjoy travel and discovering other cultures and have a knack for appreciating their inherent strengths and idiosyncrasies.
Travel is not as extensive as for some other international marketing positions, unless the manager is also responsible for new market development. This career path will appeal to people who enjoy logical analysis using statistics and other facts, and who are adept at putting together the big picture from many small pieces. The ability to interact smoothly with World counterparts and to provide authoritative leadership to subordinates is also important.
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International Marketing Representative
The marketing representative develops and executes strategies for developing World markets. He or she gathers information and intelligence by participating in trade shows and meeting with business executives, government officials, officers of industry associations, and prospective partners. The representative is often expected to do the groundwork for visits by senior US managers by setting up appointments, tours and presentations.
If the American company has a local partner, the representative may be responsible for maintaining liaison and contributing to joint marketing efforts. The focus is on promotion, advertising, trade show participation, incoming trade missions and other events that develop the market in general as opposed to pursuing individual sales. In an international partnership or joint venture, the local partner will generally be responsible for sales, but the Marketing Representative may be called in to assist with presentations or technical advice. Marketing Representatives are more likely than Marketing Managers to specialize in a particular country or region. In larger organizations representatives assigned to various countries will be responsible for providing local intelligence and advice to senior managers. In some companies, the Marketing Representative reports to a Manager with global responsibility for one product line.
Qualifications
International Marketing Representatives require a university education, generally a Bachelor’s degree in business. Many candidates hold an MBA, since this is an entry-level position that can develop skills for advancement to Marketing Manager.
Skills and Knowledge
International Marketing Representatives need solid communications skills, backed up by fluency in the principal language used in the target market. They spend most of their time meeting people and making presentations. The required skills go beyond the usual interpersonal abilities of marketing staff in the domestic market. International Representatives must have the ability to adapt their style to suit the local business culture and customs.
Representatives must also have superior organization skills and the ability to manage details. They are expected to organize trade show exhibits and incoming trade missions to the United States as well as visits by senior US executives. They must give authoritative advice to senior managers who make decisions concerning large expenditures, where accuracy and attention to detail are essential.
Aptitudes
The ideal International Marketing Representative is a self-starter who can work alone in a market far from home, while also participating as part of an international team. He or she should have the ability to execute plans and strategies developed by senior managers, without direct supervision. Extensive travel is required.
Candidates for this career path should enjoy interacting with people. International Marketing Representatives are the company’s face in the local market, and they must convey a positive image of the firm and its products or services. They also interact with regulatory officials and officers of local industry or trade associations and the impression they make can be a key element in the company’s market entry strategy.
^ TopMarket Research Analyst – World Markets
Market researchers are engaged in the technical study of opportunities for the company’s products in specific markets. For example, an assignment might involve assessing the market for swimming pools in Saudi Arabia.
The researcher does this work though an analytical process which breaks the subject down into component categories. There are many aspects to a local market, and the researcher has to consider such elements as buyer characteristics and needs, competitor strengths and weaknesses, market access issues, distribution mechanisms, regulatory structures and the business environment.
In larger organizations a Market Research Manager may supervise the work of a small group of researchers.
Qualifications
International Market Researchers require a university education, generally a Bachelor’s or Master’s degree in business or economics. Some people preparing for this career pursue specialized graduate degrees related to particular regions, such as Latin American Studies. Highly qualified candidates have degrees in both business and international studies.
A working knowledge of at least one language other than English is a common requirement, since current information often comes from the international news media and from World business periodicals.
Skills and Knowledge
Market Researchers must have a good understanding of the global economy and the operation of regional trading blocs. This includes knowledge of the international system of trade barriers and institutions devoted to reducing tariff and non-tariff barriers.
These researchers are expected to know where to find information concerning World market and to possess the analytical skills needed to synthesize conclusions from a large number of information sources. They require specialized knowledge of market research methods, including statistical and forecasting techniques as well as the use of surveys and focus groups. All of these tasks also require good computer skills and the ability to access on-line and other electronic databases.
Superior writing skills are essential to prepare concise reports for senior managers. Senior positions require superior interpersonal and leadership skills and the ability to motivate subordinates.
Aptitudes
A Market Researcher must have an inquisitive, logical mind. The work requires the ability to recognize seemingly small facts that may be indicators of an underlying trend, to pursue leads, and to systematically follow up on every aspect of the subject matter.
Researchers require self-motivation and the ability to manage their time. Most projects are time-sensitive and the individual usually works without supervision between assignment and deadline.
There is a high standard of accuracy, and serious consequences of error.
Many International Market Researchers enjoy the variety of the work. They may study Latin America one week and Eastern Europe the next. There is a requirement for some World travel, although this is increasingly unnecessary with access to modern communications
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