GMS 522 Chapter Notes -Theodore Levitt, Pricing Strategies, Kenichi Ohmae

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 522
• Professor: Helene Moore

Document Summary

Global marketing combines art/science with: economics, anthropology, cultural studies, geography, history, languages, jurisprudence, stats, demographics. Global marketing refers to the planning, coordination, and integration of marketing activities across multiple country markets. The liability of foreigness adds an additional layer of complexity and risk to the firm"s marketing decisions. Research has shown that large firms generate most of their sales in their home region. Coordination and integration of marketing strategy with an emphasis on standardization are central tenets of global marketing. Global marketing retains basic mkt principle of satisfaction and exchange. To achieve in art of global marketing, it is necessary to be firmly grounded with its scientific aspects. Term global marketing popularized by theodore levitt in 1980s. Economies of scale when firms expand its output, cost per unit will decline, allowing firm to be more price competitive in the markets that it serves.