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MGMA01H3 (95)
Angela Xu (5)

Chapter 19.docx

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University of Toronto Scarborough
Management (MGM)
Angela Xu

Chapter 19the global marketplace Global marketing today Multinationals grown from 30k60kAs global trade grows global competition does alsoLookglobal marketing envirodeciding whether to go global decide which markets to enterdecide how to enter marketdecide on the global marketing prgmdecide on the global marketing org o Major marketing decisions modelDelaying taking steps to internationalizingrisk of being shut out of growing marketsCompanies that decide to go global may face highly unstable governmentscurrencies restrictive govt policiesregulations and HIGH trade barriersGlobal firm a firm that by operating in mto country gains RD production marketing and financial adv in its costs and reputation that are not available to purely domestic competitors o Minimizes national boundarieso Develops transnational brandsSmallmed size firms can practise GLOBAL NICHING Looking at the global marketing environment The international trade systemWhen selling could have restrictions on trade btwn nations LIKE o Tariffs taxes on certain imported products designed to raise revenueprotect domestic firms o Quotas limits on the amnt of foreign imports that they will accept in certain product categories To converse on foreign exchange and to protect local industry and employmento Exchange controls limits the amnt of foreign exchange and the exchange rate against other currencies o Nontariff trade barriers biases against x company bids restrictive product standards excessive regulations The world trade organization and GATT o GATT a treaty designed to promote world trade by reducing tariffs and other international trade barriersSets new rules for international tradeA negotiating forum Oversees legal ground rules for international tradeMediates global trade disputesImposes trade sanctions when necessary
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