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24 Cards in this Set
- Front
- Back
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Global Marketing
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Marketing that targets markets throughout the world
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Global Vision
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is the process of recognizing and reacting to international marketing opportunities.
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International Marketing is different than Domestic Marketing
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Countries are different.
Problems are more complex. Must work within government regulations. Currency conversion presents unique problems. |
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What is “Globalization
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The shift toward a more integrated and interdependent world economy.
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External Environment Facing Global Marketers
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Culture
Economic and Technological Development Political Structure Demographic Makeup Natural Resources |
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Tech.
Developed Country= Less Developed Country= |
Complex, sophisticated industries
Basic industries |
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Tariff
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A tax levied on goods entering a country
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Quota
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Limit on the amount of a product entering a country
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Boycott
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Exclusion of products from a country
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Exchange Control
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Foreign exchange must be sold to a control agency
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Market Grouping
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Common trade alliance
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Trade Agreement
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An agreement to stimulate international trade
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NAFTA
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north american free trade aggreement, canada, us, mexico
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CAFTA
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central america free trade agreement, Us, costa rica, dominacan republic, el salvador, etc
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Mercosur
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ket of the south america
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Uruguay Round
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nations agreed to enhanced patent, copyright and trademark protections and established the World Trade Organization
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General Agreement on Tariffs and Trade
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Member states (151) in eight negotiating ‘rounds’ worked to lower barriers to the free flow of goods and services
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Demographic Makeup
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Marketing Considerations:
Population density Urban or rural Personal income Age |
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Why “Go Global”?
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Earn additional profits
Leverage a unique product or technological advantage Possess exclusive market information Saturated domestic markets Excess capacity Utilize “economies of scale” |
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Export
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Sell domestically produced products to buyers in other countries
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Licensing
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Legal process allowing use of manufacturing/patents/knowledge
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Contract Manufacturing
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Private-label manufacturing by a foreign country
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Joint Venture
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Domestic firm buys/joins a foreign company to create new entity
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Direct Investment
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Active ownership of a foreign company/manufacturing facility
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