ADM 2320 : Chapter 17- Global Marketing.docx

• School: University of Ottawa
• Department: Administration
• Course: ADM 2320
• Professor: All

Document Summary

Globalization: refers to the process by which goods, services, capital, people, information and ideas flow across national borders. When examining countries as potential markets for global products, companies must realize that these different countries exist at very different stages of globalization. Changes in technology, especially communications technology, have been the driving force for growth in global markets for decades. Globalization of production (offshoring): manufacturers" procurement of goods and services from around the globe to take advantage of national differences in the cost and quality of various factors of production (e. g. , labor, energy, land, capital). Originally it was focused on relocation for manufacturing purposes, now days it also includes products of the knowledge economy: medical services, financial services, technological services, and consulting. Globalizing production allows companies to lower their costs and therefore create better value for customers. Paradox: the problem of invisible beneficiaries and very visible losers.