GMS 522 Lecture Notes - Cultural Homogenization, Global Marketing, Westphalian Sovereignty

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 522
• Professor: Helene Moore

Document Summary

Textbook definition: the coordination, and integration of marketing activities across multiple country markets. Recognition that foreign and domestic markets differ. Culture and local market conditions are important. Standardization but with focus on the needs of local customers. A business orientation based on the belief that the word is becoming more homogeneous and that distinctions between national markets are disappearing. Reflects the need for balance between global marketing (with its focus being on standardization) and local marketing (with its focus being on adaptation to country differences) Dominant brands able to capitalize with standardized products and campaigns. Availability of low-cost sources of production anywhere in the world. Firms are able to shift production to exploit opportunities for savings (chine, eastern. Cost factors (economies of scale: the reduction of per unit production cost as the firm expands its level of production) Some oppose increased integration because of the potentially negative impacts that it can have on: