MKC1200 Study Guide - Final Guide: World Trade Organization, Global Marketing, Marketing Mix
Document Summary
Explain how marketers create, communicate and deliver a product of value in an international market. International marketing fundamentals: globalisation - process through which individuals, organisations and governments become increasingly interconnected, has consequences for national identity, national sovereignty, economic activities, laws and culture. Standardisation - applying a uniform marketing mix across international markets, with only minor modifications to meet local conditions (e. g. packaging, instructions in the local language) Customisation - carefully tailoring the marketing mix to the specific characteristics and wants of each market e. g. foste(cid:396)(cid:859)s lage(cid:396) is a(cid:374) eve(cid:396)yday (cid:271)ee(cid:396) i(cid:374) aust(cid:396)alia (cid:271)ut a p(cid:396)e(cid:373)iu(cid:373) (cid:271)ee(cid:396) i(cid:374) eu(cid:396)ope. Political forces: political alliances and agreements between countries, aim to: Streamline paperwork: reduce/eliminate trade barriers (e. g. tariffs) Create preferred zones of trade among their member countries. Can be bilateral (2 countries) or multilateral (3+ countries) Free trade areas e. g. asia-pacific economic cooperation (apec), association of.
