Post #9: Deciding Which Markets to Enter

Hello,

I hope you are well. This week in class we went over chapter fifteen, which discusses global marketing. Much of the text describes how marketers need to prepare for the differences in culture if their company wants to market internationally. In previous posts I have discussed communication and the importance of tailoring messages for certain markets. That importance holds true for the international market and, of course, for you in all of your markets.There is a section in the chapter titled, “Deciding Which Markets to Enter”, and although it explicitly explains this decision process for companies entering the global marketplace, I’m going to put my usual personal spin on it.

This is a post that should prove to be helpful for students of all disciplines because it will provide a perspective on how to approach the looming decisions of the uncertain future. To provide this perspective, here is an account of my recent years of decision-making:

I decided to attend Saint Michael’s College because it fit my criteria – small, New England, Catholic, liberal arts, business program, music program. I decided to be a business major because it fit my interests. After my first year, I decided to add a major in religious studies and a minor in classics because they both fit my evolving interests. These academic decisions were all based on what I was interested in at the time. And my interests evolved as I became involved in more and more subjects and extracurricular activities, and as I met new people.

One major point that I have is that all you have to act on are the interests that you have right now. I came into college as a business major, and now I am planning on studying theology in graduate school. I have always decided which markets to enter by acting on my interests at that time. I think that trying to speculate what you might be interested in is risky business. Why not go with what you are already interested in? It is also risky to be confident in your career path without having an experience in that field - act on your interest to see if you like it. Another major point, as illustrated by my personal experience, is that you should expect your interests to change – especially while in college. I have heard that up to 80% of college students will change their major (at least once). Therefore, if you haven't changed your major, ask yourself, "Why?" I'm not saying that you have to change your major, but it is interesting that four out of five students will.

So don’t always focus on the job market. Think about all of the markets that you have the option to enter in college. Act on the interests that you have right now. Focus on developing the product – you – before you decide to enter a certain job market. Make sure you can be comfortable adapting. When you decide which markets to enter (internships, summer programs, majors, colleges, graduate schools), act on your current interests. You will never know your future interests until you act on your current interests.

Enjoy the week,

Tim