COMMERCE 2MA3 Final: Commerce 2MA3 Final Exam Notes (Ch. 6,12-16).docx
15 Dec 2013
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Document Summary
Importing purchasing of foreign goods and services. Exporting marketing of domestically produced goods and services abroad. China is currently the top trading partner for canada, then usa, eu, japan and uk. Wal-mart is the largest company and employer in the world. Benefits of going global: additional revenue, new insights into consumer behaviour, alternative distribution strategies, advance notice of new products, exposure to new marketing techniques. Economic: national factors nations size, per capita income and state of economic development, infrastructure - nations underline foundation of modern life, exchange rate price one country pays in term of another"s money. Hard high value in international market. Soft no value in international market. Social-cultural: before entering a market, firms need to study all aspects of a nation"s culture, including language, education, religious attitudes and social values, language plays an important role in international marketing. Technological: internet technologies connect large and small firms to world markets, technology presents some challenges for global marketer.
