GMS 522 Lecture Notes - Lecture 1: Trade-To-Gdp Ratio, Occupy Movement, Haier

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

Document Summary

The process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations: definition emphasizes: International marketing is really an old term used to refer to two principal activities: foreign market entry, local marketing in the foreign country. Some 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: however, no head office coordination between country markets. 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. 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.