GMS 522 Lecture Notes - Lecture 1: Marketing Mix, Outsourcing, Multilateral Trade Negotiations

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

Document Summary

Lesson #1: introduction (september 10, 2015) (chapter 1) International marketing defined: process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations. Old tradition was to just extend their domestic marketing strategies to foreign countries with little or no adjustment (bad) International sales seen as secondary to developing the domestic market. No head office coordination between country markets. Marketing activities coordinated and integrated across multiple country markets. Involves product standardization, identical brand names, consistent packaging, and similar advertising message. Ted levitt (in 1983) said markets are becoming more homogenized and could be targeted with standardized products. Not necessary for firms to market in all or even most countries to be considered global (johansson, 2000) Most of the world"s largest firms generate > 80% of sales in home region of triad (i. e. us, japan, western europe) Assumption that consumers around the world can be grouped into homogenous segments.