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GMS 522 week 1.docx

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Ryerson University
Global Management Studies
GMS 522
Helene Moore

GMS 522 GMS 522 Week 1 Chapter 1: Global Marketing Imperative Global Marketing  Textbook definition: the coordination, and integration of marketing activities across multiple country markets The Evolution of Global Marketing:  Domestic marketing :  International sales are incidental to marketing strategy  Recognition that foreign and domestic markets differ  Multidomestic marketing:  Unique strategy for each country market  Cultural homogenization to serve global segments  Global marketing:  Focus on standardization and global segments  Culture and local market conditions are important  Local marketing:  Standardization but with focus on the needs of local customers Globalization  A business orientation based on the belief that the word is becoming more homogeneous and that distinctions between national markets are disappearing “Glocal” Marketing  Reflects the need for balance between global marketing (with its focus being on standardization) and local marketing (with its focus being on adaptation to country differences) Forms of Globalization  Globalization of markets:  Convergence on consumer preferences  Dominant brands able to capitalize with standardized products and cam
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