Pilot Course: Market Feasibility Study
#Business Management
5 ETCS | 135 hours
Language of instruction
English
Teacher(s)
Sven Rassl
Tampere University of Applied Sciences
Alena Safarova
Masaryk University
Mode of teaching
Places
0 – 25
Implementation time
24 October – 16 December 2022
Students allowed to take modules at home institution
Yes
Course information and Implementation information
Objectives
Learning outcomes of the course unit
The course will focus on the concept of market entry strategies as a part of the chosen marketing mix. Different forms of entry strategies will be covered, including direct and indirect exporting and foreign production. Advantages and disadvantages associated with each of these methods will be covered. The course will focus on the impact of environmental factors, such as e.g., cultural, economic, institutional, legal and political on international marketing activities.
The course approach is practical: teams of 4-5 international students will be working on a company case and evaluate the feasibility of a company’s product for entry to a foreign market. The course will cover how to identify the most potentially viable markets for entry. The course will pay attention on how to decide on the most realistic entry mode for market entry.
After completing the course, students will be able to:
- Identify potentially viable foreign markets for entry
- Decide on appropriate and realistic market entry methods
- Determine market potential first and then a logical channel to reach that market
- Plan and implement a project independently and as member of an international team.
- Accomplish a project, analyze and report the results to a case company
Practical training and working life connections
Student teams will work with a real business challenge solving a development problem. The teams are expected to take ownership of their project and be responsible of the communication with the case companies.
Further information
Enrolment to the course will be done on this form: https://forms.office.com/r/51SGRxYH6P
Should there be more enrolments than places, applicants will be selected based on the enrolment time and suitability for the course. The number of places is limited to 5 students per participating institution
Contents
Division of contents
4-5 coaching sessions announced in the beginning of the course. Teams are expected to be present and able to work during the coaching sessions.
- Analysis of different market entry methods available to organizations
- Understanding of internal and external factors that influence decisions
- Researching market entry options, examination and selection of the most effective strategy
- Collect, process and interpret data used to support international business
Teaching methods
The course is based on learning by doing and collaborative learning in international teams. The students will work on a real business case in small international teams.
Most of the work is done outside lectures in small teams. It is to be noted that the course requires approximately 10 hours of student work every week.
Assessment methods and criteria
Methods and grounds for evaluation
Evaluation is based on the quality of the solution of the project challenge as well as the students’ participation and active input in the team. Peer assessment will be used as part of the evaluation. More precise evaluation criteria will be presented in the course introduction.
Teaching material
Albaum, Duerr, E., & Josiassen, A. (2016). International marketing and export management (Eighth edition.). Pearson Education Limited
Evaluation
Evaluation scale
0 – 5
Evaluation criteria – satisfactory (1-2):
The student can name the concepts and theories of market entry, and he/she can comprehend the use of these concepts in a practical market feasibility study. Under supervision and with the support of a mentor, the student is able to accomplish the project and report the results to the customer. He/she can support a project as member of a team.
Evaluation criteria – good (3-4):
The student is able to apply the concepts and theories of market entry, and he/she can utilize these concepts in a practical market feasibility study. He/she can independently, or as a member in a team, advice companies on suitable market entry strategies. The student can plan, implement, and report a project to a case company. The student is able to reflect on his/hers own as well as teamwork process. He/she can contribute to the outcomes of a consultation project as a member of a team.
Evaluation criteria – excellent (5):
The student has in-depth understanding of the concepts and theories of market entry, and he/she can utilize these concepts in a practical market feasibility study. He/she can independently, or in a leading role in a team, advice companies on suitable market entry strategies. The student can plan, implement, and report the project to a case company. The student is able to reflect on his/hers own as well as teamwork process. He/she can facilitate, contribute, and enhance the outcomes of a consultation project as a leading member of a team.
International Connections
The course is offered within the Erasmus funded VERSATILE project. The course is open to second, third- and fourth-year students at the participating universities.
- Tampere University of Applied Sciences (Finland)
- University of Derby (UK)
- Rhine Waal University of Applied Sciences (Germany)
- Masaryk University (Czech Republic)