BU352 Chapter Notes - Chapter 17: Franchising, Living Wage, Glocalization
Document Summary
Globalization: refers to the increased flow of g/s, people, technology, capital, information, and ideas around the world; has economic, political, social, cultural, and environmental impacts. Globalization creates economies of scale and many market niches that aren"t profitable at provincial or national level but profitable at global level. Pest analysis offers marketers complete picture of company"s potential as market for g/s. Marketers often have to make trade-offs between actors when entering or doing business in foreign market. Gov. actions and non-gov. political groups influence firms" ability to sell g/s b/c of laws and other regulations that promote the growth of global market or close off country and inhibit growth. Protectionist policies: policies aimed at restricting trade and global marketing. Liberalization policies: policies aimed at restricting trade and global marketing. Trade sanctions: penalties or restrictions imposed by one country over another country for importing and exporting of goods, services, and investments.
