MKM5260 Study Guide - Final Guide: Southern African Customs Union, Cost Leadership, Geert Hofstede
Document Summary
Marketing and marketing management communicating, and delivering value to customers and for managing customer: marketing is an organizational function and a set of processes for creating, relationships in ways that benefit the organization and its stakeholders. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. International marketing is the process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations. International marketing has forms ranging from export-import trade to licensing, joint ventures, wholly owned subsidiaries, turnkey operations and management contracts. (source: page 6 of czinkota et al (2014) ) For u. s. companies, 75% of total world market for goods and services is outside the country. Coca-cola earns 75% of operating income and 2/3 of profit outside of north. For japanese companies, 90% of world market is outside the country.
