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GMS522 Week 1.docx

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Department
Global Management Studies
Course
GMS 522
Professor
Carlyle Farrell
Semester
Fall

Description
Int mktg defined  The process of planning and conducting transactions across national borders to create exchanges that satisfy the obj of individuals and orgs. o Cross border transactions o Satisfaction of consumer needs o Exchange between truncating parties  Some companies would extend mktg stats into another country  Int sales were seen as a second to develop the domestic mktg.  Over time country differences were recognized and began to develop separate mktg stats for each target country. (muti-domestic mktg strat was used) o However, no head office coordination between country mktg  Emphasis is now on global mktg o Marketing activities coordinated and integrated across multi country markets o Integration involves product standardization; identical branch names; consistent packaging and a similar advertising message.  Levitt’s Homogeneous Markets: o Ted Levitt said in 1983 that markets are becoming more homogenous and therefore could be targeted with standardized products (argued that tech and communication were the drivers, his work gave rise to the notion of global marketing)  Why globalize? o Take advantage of opps for growth o Sur
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