CommerceUVA Fall 2007 (Investors' Report) - McIntire School of ...

ReFLeCTIONS
Global Strategy: Professor James Maxham talks about preparing students for success in
the global marketplace through his course, “Marketing Strategy in Global Markets.”
BUSINeSS ANALYSTS hAVe BeeN SAYING for 20
years that the world is a global market. The reality is that
this wasn’t actually the case even five years ago. Now, though,
I think we can truly say we are living in a single consumer
market.
But it’s hard to understand this
without hands-on experience—which
is why, for the past five years, I’ve been
taking students to europe and Asia to
study marketing strategy. At first, we
traveled to established markets such
as London and Paris. We had strong
partnerships in both cities, and it was
easy to get top executives to come speak to the students.
When we were there, though, I noticed that these executives
couldn’t stop talking about eastern and Central europe.
There was so much change going on—and the leading multinational
firms were trying to capitalize on all the opportunities.
So the next year, we went to Prague, Vienna, and Budapest,
and it was a fantastic learning experience.
The whole region was—and remains—a hotbed of activity,
and managers don’t have it figured out. It raises all sorts
of interesting issues for students, because they get a chance to
hear from managers who are experts in their fields—and these
seasoned professionals are waking up at night because they
can’t figure this market out.
Professor James Maxham (left) and students explore global markets.
28 • CommerceUVa
I’ve decided that what works best is taking students to
rapidly developing regions where they can get a feel for how
firms are trying to understand consumers and markets. how
do you build and manage brands? What are the trends in
consumer preferences? What sorts of marketing efforts will be
most effective?
Traveling to booming markets—India, China, Brazil,
Russia, and Africa—means students are learning every minute
of the day. This year, we went to Beijing and Shanghai. We’re
going back to China next year because there’s more going on
there than I could ever have imagined. A number of executives
I’ve spoken with think the real opportunity is taking place in
the so-called second- and third-tier cities. China has more
than 90 cities with populations of more than a million, and
smart multinational and regional players are eager to get a
foothold in those cities.
Over the years, I’ve shifted the class from being a fairly
traditional academic experience to something more akin to
executive education. Our case-study discussions are coupled
with company visits and tailor-made presentations from
executives. I also have students read a relevant book written
by a leading authority. It’s this practical knowledge coming
from industry experts who are on the ground working
through these issues every day, combined with experiencing
a new culture, that helps students really understand global
business.