GMS 522 Lecture Notes - Lecture 1: Multilateral Trade Negotiations, 1997 Asian Financial Crisis, Outsourcing

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 522
• Professor: Carlyle Farrell

Document Summary

International marketing: the process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations. Definition emphasizes: cross border transactions, satisfaction of consumer needs, exchanges between transacting parties, with international marketing companies would simply extend their domestic marketing strategies to foreign countries with little or no adjustment. International sales seen as secondary to developing the domestic market: over time country differences were recognized and firms began to develop separate marketing strategies for each target country, i. e. a multi-domestic marketing strategy was used. Global marketing: defined as: marketing activities coordinated and integrated across multiple country markets. Integration involves product standardization; identical brand names; consistent packaging and a similar advertising message. Levitt"s homogeneous markets: ted levitt argued in 1983 that markets are becoming more homogeneous and therefore could be targeted with standardized products. Levitt argued that technology and communication were the drivers. His work gave rise to the notion of global marketing .