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Chapter 19

Chapter 19.docx

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Concordia University
MARK 201

CHAPTER 19 THE GLOBAL MARKETPLACEOPENING EXAMPLE McCainAll over the worldmainly potato productsDevoted to product quality operations management advanced info tech good marketingand innovative product developmentGlobal megabrandSocially responsibleTry to grow food locallylocal agronomyHas actually helped agriculture in other countries China1 GLOBAL MARKETING TODAYMultinational corporations are the worlds biggest economiesWalmart has massive GDPCervelo Cyclesgood bikes great marketersHigh global competitionIf dont get involved in global markets risk going out of businessDangerous because of government policies corruption etcGlobal firm operates in more than one country gains RD production marketing and financial advantages in its costs and reputation that are not available to purely domestic competitorsNeed to develop transnational brandsRapid globalizationaLooking at Global Marketing EnvironmentiInternational Trade SystemMay have tarrifs quotas exchange controlsNon tariff trade barriersWorld Trade Organization and GATToPromote world trade by reducing tarrifs trade barriersoSet new rules for international tradeoAim to liberalize tradeoOversees legal ground rules mediated disputed imposes trade sanctionsRegional Free Trade Zoneseconomic communityoNations organized to work toward common goals in regulation of international tradeoEuropean UnionoLower barriers inside create thicker walls outsideoAdoption of the Euro reduces currency riskoNAFTA will eliminate all barriersii Economic EnvironmentNeed to look at countrys industrial structure and its income distribution1Subsistence Economiessimple agriculture eat what they produce and barter for the rest2Raw material exporting economies rich in 1 natural resourcegood markets for large equipment tools supplies and trucks3Industrializing economies manufacturing brings in the cash creates new rich class and growing middle class4Industrial economies major exporters of manufactured goods strong middle classSome countries have only rich and poorEven though most people in China cant afford anything they still have a market for luxury goodsChina has least amount of millionaires but not far behind US and CanadaYoung consumers in china spend more money on foreign productsZara makes higherend items available to mass marketsEconomic environments can change international marketers decisions about which segments of the market to enteriii PoliticalLegal EnvironmentCanada wants to get friendlier with ChinaScience and Tech agreementInflation issues in Venezuela
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