BUS 151 Lecture Notes - Lecture 1: Williams International, Free Trade
9 May 2020
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Document Summary
Activities that precede and follow the production process. The 4 p"s, each is equally important. Coordinated performance of marketing activities to create exchanges across countries that satisfy individual organizational, and societal objectives: conducted across countries, coordinated activities across different countries, motivated by people, organizations, and societal goals. The consumer: use the 4 p"s to satisfy the consumer. Economic, financial, political, and cultural environment of each country affect marketing. Diversification increases market size and enhances economy of scale. Taxes on imported goods: specific, fixed amount per physical unit of import, ad-valorem, percent of estimated value of import. Administrative red tape: excessive regulation or rigid conformity to formal rules that is considered redundant or bureaucratic and hinders or prevents action or decision-making. Balancing the two is the key to success. How government influence the 4 p"s: product, local content laws, price, government approval for price change, promotion, permissible budget performed by local authorities, place, mandated distribution channel for territory.
