ADMS 2200 Study Guide - Free-Trade Area, Market Segmentation, Multinational Corporation

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Richard Patterson

Document Summary

Global trade can be divided into two categories exporting and importing. Canadian and foreign companies are crossing national boundaries in unprecedented numbers in search of new markets and profits. Global trade is vital to a nation and its marketers for several reasons. It expands markets, makes production and distribution economies of scale possible, allows companies to explore growth opportunities in other nations and makes them less dependent on economic conditions in their home countries. Exporting is marketing domestically produced goods and services in foreign countries. Importing is purchasing foreign goods, services and raw materials. Canada measures imports and exports of services under three major categories; travel, transportation and commercial services. Services account for more than 75 percent for all employment in canada. Global marketers are well positioned to compete effectively with foreign competitors. A major key to achieving success in foreign markets is a firm"s ability to adapt its products to the local preferences and culture.