ADMS 2200 Chapter Notes - Chapter 6: World Trade Organization, Protective Tariff, Foreign Exchange Controls

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Kim Snow

Document Summary

Exporting marketing domestically produced goods and services abroad. Chapter objective 1: describe the importance of global marketing from the perspectives of the individual firm and the nation. A major key to achieving success in foreign markets is a firm"s ability to adapt its products to local preferences and culture. Chapter objective 2: identify the major components of the environment for global marketing. National factors: nation"s size, per-capita income, stage of economic development determine its prospects. Infrastructure: underlying foundation for modern life and efficient marketing, transportation, communications, banking, utilities, and public services. Exchange rate: price of one nation"s currency in terms of another country"s currency, fluctuations can make a nation"s currency more/less valuable compared to other nations. Before entering a market, need to study all aspects of a nation"s culture: language, education, religious attitudes, social values. Language plays an important role in international marketing. Internet technologies connect large and small firms to world markets. Technology presents some challenges for global marketers.