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Global Marketing

Global Marketing. 19. Definition. Global Firm A firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors. Major Decisions in International Marketing.

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Global Marketing

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  1. GlobalMarketing 19

  2. Definition • Global Firm • A firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors.

  3. Major Decisions in International Marketing

  4. Looking at the Global Marketing Environment • The International Trade System • Tariffs, quotas, embargos, exchange controls, nontariff trade barriers • World Trade Organization and GATT • Regional free trade zones • European Union • North American Free Trade Agreement • Other free trade areas

  5. Looking at the Global Marketing Environment • Economic Environment • Industrial structure • Subsistence economies • Raw material exporting economies • Industrializing economies • Industrial economies • Income distribution

  6. Looking at the Global Marketing Environment • Political-Legal Environment • Attitudes toward international buying • Government bureaucracy • Political stability • Monetary regulations • Countertrade: barter, compensation, counterpurchase

  7. Looking at the Global Marketing Environment • Cultural Environment • Impact of Culture on Marketing Strategy • Cultural traditions, preferences, behavior • Impact of Marketing Strategy on Cultures • Globalization vs. Americanization

  8. Deciding Whether to Go International • Not all companies need to go international • Local businesses • Domestic can be easier and safer • No unstable currency issues • May be drawn international by global competitor’s attack • If domestic market growth low, global may bring higher sales • The company needs to evaluate its abilities and the consumer and business environments in other countries.

  9. Market Entry Strategies

  10. Deciding on the Global Marketing Program • Standardized Marketing Mix • Same basic product, advertising, distribution, and other elements of the marketing mix are used in all international markets. • Adapted Marketing Mix • The marketing mix elements are adjusted for each international target market.

  11. Five International Product and Promotion Strategies

  12. Deciding on the Global Marketing Organization • Managing International Marketing Activities • Step 1: Organize export department • Step 2: Create an international division • Step 3: Become a global organization

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