MKT 100 Lecture Notes - Lecture 4: Offshoring, Global Marketing, Outsourcing

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Golam Aurup

Document Summary

Marketing that targets markets around the world -- imperative for business today: recognizing and reacting to international marketing opportunities, using effective global marketing strategies, awareness of threats from foreign competitors. Benefits of globalization: developed countries, expands economic freedom, spurs competition, raises productivity and living standards, less developed countries, access to foreign capital, access to export markets, access to advanced technology, breaking the monopoly of inefficient labour. Multinational firms: operate in one country and sell in another establish foreign subsidiaries operate an entire line of business out of country virtual executive suite. Globalization -- benefit: can tap into financial physical and h. r. resources, can transfer up-to-date technologies. Globalization -- standardization: as the world shrinks due to communication technologies, consumers want all the same, global marketing standardization improving profits through lower costs. In reality, a combination of standardization and variation things: determine which products need to be changed and change only them.