Reflection-What I Have Learned

Reflection-What I Have Learned

This has been one of the best courses that I have studied. Discovering new information and deeply exploring the existing knowledge regarding doing business in Europe was, for the most part gratifying to me since, from the beginning, I set my mind to enjoy the course and do my best. Some sections were tougher than others, but I got to learn from most of the introduced information. However, there is a topic that stood out from the rest, and I got to gain a lot of information from it. Most of the content that intrigued me pertains to marketing in Europe. This topic comprises several sub-topics, and I understood some areas better than others. The discussed section represents the details I most comprehended regarding marketing in Europe and other associated info. I am very passionate about marketing. Thus, I was interested in comprehending most of its facets. This could be one of the reasons why I paid too much attention to the topic.

In this area, I understood that the European market tends to be extremely competitive. Some elements, such as the single currency, single market, and the comparative harmonization of public, economic, and monetary management tools, tend to demonstrate competitiveness. For instance, the easier price comparison has shaped transparency, thus highly affecting the pricing methods and marketing. A major contributing factor of marketers in the country is the necessity to succeed through creativity and innovation.

In Europe, diversity and harmonization tend to launch marketing patterns (Suder 293). These marketing models depend on a national-wide method, the standardization openings against niche positions, and the occasional prerequisite for cluster or local techniques. Like in international marketing, the most appropriate policies are based on the product definition, the market, timing, and reach. Even before commencing the topic, the European marketing model was an area of interest. I understood that the European marketing system has been documented as distinct from the archetypal marketing concept. People marketing products or services typically position them in an increasingly assimilated market. What follows is facing high national competition, which comes from extremely developed and transitioning economies in the country with frequently smooth movement across boundaries.

Consumer behavior is a crucial element of any market, and through the course, I could comprehend the different client tendencies in prcoulde country. Typically, consumer behavior in organizations or groups is utilized in selecting and securing products, services, innovations, or encounters and the growth for meeting their necessities and impact purchasing tendencies. Recognizing customers’ conditions influences behavioral explanations and ensures competitiveness (Zhao 101591). This effect tends to be the same even in Europe.

As understood, the basis of effective marketing tends to be the evaluation and screening of opportunities. In screening, a person can evaluate a precise data selection such as political and social circumstances, size and market growth, and competition and market correspondences. Typically, from 9/11 and the subsequent build-up of numerous risks, marketers assessed the probable shift in customer behavior owing to the turmoil, violence, and its effects. Additionally, post-materialism highly transforms into clients looking for experiences and concentrating on ethical trade, humanitarianism, and equality. A business environment like the EU tends to be comparatively mature, which is significant as a global operation basis for marketers. Typically, macro-level data plays a significant role in selecting the general marketability, regarded as the precise service or product.

Besides the obtainability of data in the EEA and EU underpinning the benefits that could be acquired from a European single marketing approach, it has also helped me learn about existing linguistic, social, geographical, and cultural disparities. The utilization of business analytics and big data has highly refined the understanding that dealers create value. An example is when online vendors apply prompt analytics responses to their online undertakings. Typically, real-time client reactions help in targeting distinct promotions. Human behavior and processes are highly examined and used in business choices through data visualization and access.

Valuation of a product and service was also notable and understandable in the course, not forgetting the segmentation in the country. The conventional strategy for global marketing concentrates on defining the most appropriate marketing mix. The marketing mix comprises a product available at the right place, the right product, the right value, and recognition through the right promotion. On the other hand, segmentation intends to recognize discrete consumer groups with considerably different purchasing behavior from others and to recognize the market into diverse customer subdivisions behaving similarly or having comparable requirements. Marketers can utilize and combine various segmentations. Frequently, marketers can recognize niches that tend to be shallowly distinct groups looking for a benefits mix.

The legal and political circumstances in European nations are merely partly co-ordinated. They permit the marketer to embrace several critical criteria in assessing the market. Typically, the extent to which the European nations adopt EU regulation and select incorporation expresses the harmonization degree of legal-political factor benefits. When the legal and political framework is homogenous, noteworthy deviations in taxation rates are excluded. Consequently, the administrative modifications between European nations could hinder the market and trade.

I also gained some insight into the non-marketing strategies in Europe. Non-marketing strategies are pursuing tactical goals using social and political leverage—the management part engagesovernment media and civil society. The market strategy plays a significant role in assisting groups in getting soft power and influence and ultimately gaining a competitive advantage. Various factors, including peace and stability, can affect how Europe conducts its business. The COVID-19 and Russia war has, including peace and stability, highly impacted Europe’COVID-19. The coronavirus economy prompted unprecedented policy reactions in Europe and the world (De Vet 9).

On the other hand, the defense business is significant in Europe and other developed nations. The current war between Russia and Ukraine is affecting this business negatively. Since Ukraine’s invasion by Russia, several nations have issued sanctions against Moscow. The lack of military action has not dissipated the probable presence of an economic war through the various sanctions. The sanctions targeted Russia’s defense assets. The effects of these sanctions are yet to be identified (Muraviev).

Russia’s war enterprises are typically recognized globally due to the country’s ability to export these defense systems and technologies overseas. Its main competitor is the USA. However, it established a position in the mark typically market as one of the key providers of these defense products in markets such as Southeast Asia. Ukraine played a critical role in the business capabilities of Russia in the defense sector. It provided various technologies such as aircraft engines, systems used to control fire, and ship turbines. When sanctions were issued in 2014, Russia chose to reduce its dependency on imports for the defense sector. This was expected to increase its self-sufficiency. This decision received significant support from the government. By early 2022, Russia produced 80 percent of the components required in the defense industry). Ukraine also produces and sells weaponry to other nations lacking production capacity. Ukraine’s regional clients, such as India, have suffered from the actions of Russia. If Ukraine cannot continue production after the war, this may create an opportunity for Moscow to expand its market. However, Russia is exposed to significant continuation if its partners find it unwarranted. This may affect their willingness to do business with Moscow. Regardless, Russia will fight to retain its market position in the defense business and seek to obtain Ukraine’s clients (Muraviev). Encounters in Europe are still striking international markets as Ukraine and Russia’s war causes death and destruction in the nation.

In conclusion, this course was an eye-opener and a source of knowledge in various areas. I gained a lot in the discussions regarding Europe and other related sections. Primarily, I understood that the European market tends to be extremely competitive. Some features, such as the single currency, single market, and the comparative harmonization of public, economic, and monetary management tools, are demonstrators of competitiveness. Consumer behavior is a very imperative element of any market, and through the course,e I could comprehend the different tendenc,ies present in the nation. Besidemonstratey of the data in EEA and EU underpicouldenefits that could be acquired from a European single marketing approach has also helped me learn of existing linguistic, social, geographical, and cultural inconsistencies. Assessment,nt of a product and service were also notable and understood in the course, not forgetting the segmentation in the country. Also, European nations’ legal and political circumstances are partly co-ordinated. They permit the marketer to embraEuropean nations’ critical standards in assets are gain insight into the non-marketing strategies in Europe. Non-marketing strategies are pursuing tactical goals using social and political lever concepts have helped me understand the course better.

Reference

De Vet, Jan Maarten, et al. Impacts of the COVID-19 Pandemic on EU Industries. Strasbourg, Francuska: European Parliament, 2021.

Muraviev, Alexey D. “The new sanctions regime and Russian defence exports in the Indo-Pacific.” East Asia Forum March 2022. <https://www.eastasiaforum.org/2022/03/25/the-new-sanctions-regime-and-russian-defence-exports-in-the-indo-pacific/>.

Suder, Gabriele. Doing business in Europe. Sage, 2011.

Zhao, Jia, et al. “Consumer behaviour analysis for business development.” Aggression and Violent Behavior (2021): 101591.

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“What I Learned” Essay

Please share what you learned in the class. I expect a 1500-word essay about what you learned in the class. You may choose a particular chapter that impressed you and focus on that, a case or set of cases or other materials that intrigued you, or you may bring in personal or professional experiences related to the course. You have a lot of latitude in what you write in this 1500-word essay. You may write about a personal or family issue relating to any issue in the course related to business in some international setting. You may write about a work situation involving a relevant business issue or an issue in current events. You may write about a chapter or two that spoke to you. You may write about current events. The basic objective is that you reflect on what you have gained from taking this course.

Reflection-What I Have Learned

You should include some of what you learned from the course material (text, videos, discussion, etc.). But I also look for evidence of personal reflection. Sometimes, students have personal or family experience that relates to the course. Sometimes, something has happened in society, like the COVID-19 pandemic, that causes new reflection and reaction. Sometimes, something happens in a country being studied or to a company in the news, providing a great opportunity for linking real life to course material.

Sometimes, an essay is intended to argue a point or persuade someone about a point of view, but this is not that kind of essay. I am interested in what you got from the course and how you benefitted—hopefully, you did—from the readings and discussions and the other materials. I am also interested in hearing about any topics you would like to have seen emphasized more. I suppose the word “narrative” might be good for this assignment, as I am interested in your feelings and reactions to the course.

You definitely should allow time for re-reading and editing. Using proper grammar and punctuation is appreciated.

“What I Learned” Rubrics
Reflections show thoughtful comprehension and integration of key concepts

Relates to important topics, of course, and understands the complexity of doing business in Europe

Uses conventional writing skills appropriate for upper-level undergraduate students

Moves discussion along by examples derived from journalistic or academic sources, if possible, or personal knowledge, or other research

Demonstrates awareness of the background of issues being discussed and, if appropriate, current influences and possible future directions

Course Description and Purpose

In this class, we investigate business opportunities and challenges in the various countries of Europe, both those in the European Union and others. We look at the varied cultures represented in Europe, the political and economic environment in different countries, and current trends and issues. The purpose is to prepare students to do business in Europe or to work effectively for a Europe-based company.

Course Objectives

After completing this course, students will be able to:

Identify important elements of doing business in various European countries
Compare institutions and cultures characteristic of different regions of Europe
Evaluate economic and political trends and issues in different European countries
Create a guide for doing business in a particular European country
Major & Curriculum Objectives Targeted

Discuss globalization and its impact on different European countries and companies doing business in Europe.
Critically evaluate assumptions and assertions on the benefits and problems of multilateral and bilateral trade alliances in Europe.
Analyze the political, legal, economic, and socio/cultural environment of different European regions and countries and use this analysis to develop competitive business strategies.
Apply knowledge of cultural values to select appropriate management and leadership styles and practices and to identify inappropriate attitudes and behaviors.
Evaluate the problems and advantages of various marketing strategies for businesses in Europe or with a European-based firm.