Area Studies and Market Development (5op)

Osaamistavoitteet (Opintojakso)

This course will be implemented both in fall and spring semester either as an area studies course or as a market development course.

A) An Area Studies course (e.g. EU, Russia, the Baltics, Asia, Middle East, Latin America, North America, Developing Economies – yearly Area Studies course options will be announced in August)

An Area Studies course aims to give the students an introduction to economic, social, historical and cultural aspects of a business area, and forms of doing business. Area Studies courses emphasize a practical knowledge approach and they familiarize the students with the region in question from a business point of view. This will help them to develop their international business awareness and intercultural adaptability. It is highly recommended that the students selecting Area Studies also study the main language of the region, and/or do their required international exchange or practical training in a country of the chosen area.

On completing an area studies course, the students will

1. demonstrate knowledge of particular regions and countries (history, culture, society, politics, economics, and ways of doing business).
2. gain a critical awareness of diversity across societies both past and present
3. develop their international business awareness and intercultural adaptability
4. get support for learning a major language of the region
5. be better prepared for their exchange or international practical training period in the region

B) A Market Development course

A Market Development course focuses on the theoretical and practical issues involved in taking the business into foreign markets. Students are introduced to research methods and strategic marketing concepts that improve their market development skills. Student teams will develop a product or service for specific foreign markets, undertake a country analysis, perform a market audit of a firm’s current capabilities and foreign market needs, conduct a competitor analysis, and develop a marketing plan for the product or service.

On completing the course successfully, the students will

1. understand a number of useful research methods for conducting a country analysis, competitor analysis, and market audit,
2. understand a number of marketing strategy alternatives that could be employed in entering a foreign market,
3. be capable of locating and assessing information sources for conducting the market development tasks,
4. learn to analyze primary and secondary data in order to estimate market demand, market share, and price sensitivity, and
5. develop a marketing plan that includes resource needs, timelines for implementation, and control measures after the marketing plan is launched.
6. understand the client company capabilities
7. consider the internationalization strategy from a regional perspective
8. make a regional market analysis
9. select the markets which best fit to strategy
10. make a detailed analysis of the priority market
11. identify concrete opportunities for client companies within the course limits
12. recommend the next steps to be taken in the market development process

Sisältö (Opintojakso)

- Developed vs. Developing world and emerging markets
- Development and economic growth
- Characteristics of economic growth
- Development indicators
- Sources of development
- Development strategies
- Barriers to economic development
- Sustainable development
- Trade and development opportunities in developing economies
- Emerging markets

Arviointiasteikko

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