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McMaster University
Ambika Badh

Chapter 6 Exporting Marketing of domestically produced goods and services aboard Importing Purchasing of foreign goods and services TOP CANADIAN TRADING PARTNERSLargest Companies in the World and in CanadaService Exports Manufacturing no longer accounts for the lions share of annual production output in Canada Today more than 7 of every 10 dollars included in the nations gross domestic product GDP comes from servicesbanking entertainment business and technical services retailing and communications Services also account for more than 75 percent of all employment in Canada This profound shift from a largely manufacturing to a largely service economy is also reflected in the nations exports Benefits of Going GlobalAdditional revenueNew insight into consumer behaviorAlternative distribution strategiesAdvance notice of new productsExposure to new marketing techniques The international Marketing Environment 4typesInternational Economic Environment o A nations size percapita income and stage of economic development determine its prospects as a host for international business expansion Nations with low percapita incomes may be poor markets for expensive industrial machinery but good ones for agricultural hand tools These nations cannot afford the technical equipment that powers an industrialized society Wealthier countries may offer prime markets for many industries particularly those producing consumer goods and services and advanced industrial products o National factors 1 nation size population 2 per captia income 3 stage of economic development o Infrastructure 1nation underline foundation of modern life o Exchange rate price which one country pays in terms of our countrys currencySoft currency having no demand on international market ie Iraq currency country with soft currency do not exchange currency they exchange goodsHard currency having high level of value international market International SocialCultural Environmento Before entering a foreign market marketers should study all aspects of that nations culture including language education religious attitudes and social values The French love to debate and are comfortable with frequent eye contact In China humility is a prized virtue colours have special significance and it is insulting to be late Swedes value consensus and do not use humour in negotiations Navigating these rules that are commonly understood among the citizens of a country takes time patience and a willingness to learn about other cultures o Language plays an important role in international marketing International Technology Environmento More than any innovation since the telephone Internet technology has made it possible for both large and small firms to be connected to the entire world The Internet transcends political economic and cultural barriers reaching to every corner of the globe It has made it possible for traditional marketers to add new business channels It also helps developing nations in becoming competitive with industrialized nations o Internet technologies connect large and small firms toworld marketsNot just internet o Technology presents some challenges for global marketers
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