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Chapter 1 Global Environmental Drivers

Chapter 1 Global Environmental Drivers. International Marketing Defined. International marketing : Consists of the activity, institutions, and processes across national borders Creates, communicates, delivers, and exchanges offerings that have value for stakeholders and society.

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Chapter 1 Global Environmental Drivers

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  1. Chapter 1 Global Environmental Drivers

  2. International Marketing Defined • International marketing: Consists of the activity, institutions, and processes across national borders • Creates, communicates, delivers, and exchanges offerings that have value for stakeholders and society

  3. International Marketing Defined • Forms of international marketing:

  4. International Marketing Defined • Marketing serves as a: • Key agent of societal change • Key instrument for the development of societally responsive business strategy

  5. International Marketing Defined • Making decisions based on international issues and repercussions requires addressing the below questions: • Where are my current and potential customers? • Does international activity increase risk?

  6. International Marketing Defined • What marketing adjustments are or will be necessary? • How do innovation and entrepreneurship change the global marketplace?

  7. The Importance of World Trade • Within the last decade, world trade represents a growth of ___ percent for trade in both merchandise and services • Global growth of trade has outperformed the growth of domestic economies in the past few decades • International specialization and cross-sourcing have made production efficient

  8. The Importance of World Trade • New and emerging economies have liberalized their economic systems • Bringing billions of new consumers into the global economic system • Offering a vast array of new marketing opportunities • Bringing-in production efficiency through international specialization and cross-sourcing • Redefining the way business is done through revolutionary technologies

  9. The Importance of World Trade • Trading blocs

  10. Global Linkages • World trade has forged a network of global linkages • Binding countries, institutions, and individuals closely • Global linkages have become more intense on an individual level • Communication has built new international bridges

  11. Global Linkages • World trade is bringing about a global reorientation of corporate processes • Opening up entirely new horizons

  12. Global Linkages • Global technological innovation in marketing directly affects the efficiency and effectiveness of business activities

  13. Global Linkages • The level of global investment has: • Resulted in the buildup of international debt by governments • Provided foreign capital for firms

  14. Global Linkages • Increasing foreign investments in some key sectors have resulted in _________ • Realignments taking place on both micro and macro levels make past trade orientations partially obsolete

  15. Global Linkages • The growth in the overall volume and value of both merchandise and services trade has had a major impact on ________________________________

  16. Domestic Policy Repercussions • Policy makers find it difficult to isolate domestic economic activity from international market events • Domestic policy measures are cancelled out or counteracted by the activities of global market forces • Traditionally – currency flows are determined by _______

  17. Domestic Policy Repercussions • In the more recent past: • Currency flows have set ___________, which are the values of currencies relative to each other • Exchange rates have begun to determine the ______________ • Firms and countries are quick to emulate innovation and counteract carefully designed plans • Due to ________________________

  18. Domestic Policy Repercussions • Governments are powerless to implement effective policy measures • Policy makers have imposed regulations by means of:

  19. Domestic Policy Repercussions • These measures too have been restrained by international agreements that regulate trade restrictions • Particularly through the World Trade Organization (WTO)

  20. Domestic Policy Repercussions • Closer economic relations result in many positive effects • But, interdependence brings with it risks • Key task for the international marketer is to _______________________________

  21. Opportunities and Challengesin International Marketing • To handle newly emerging forces and dangers of unforeseen influences from abroad, firms need to:

  22. Opportunities and Challengesin International Marketing • The growth of global business activities offers increased opportunities

  23. Opportunities and Challengesin International Marketing • International opportunities require careful exploration:

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