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Chapter 8

CHAPTER 8.docx

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York University
Administrative Studies
ADMS 3920

FridaySeptember2812CHAPTER 8 GLOBAL MARKETINGIn many industries innovation is essential to competitiveness giving a small company an advantage over its largefirm counterparts Small businesses that invest heavily in research and development often outperform their large competitors But as RD costs rise they often cannot be recovered from domestic sales and hence small firms are forced to go abroad to cover the investment costs Companies now are focusing on emerging markets such as China and India due to their high level of populations and potential demand GLOBAL CHALLENGES Companies doing business abroad are facing the following obstacles Obtaining adequate knowledge about exporting Identifying viable sales prospect abroadUnderstanding business protocols in other countriesSelecting suitable and most profitable target markets Broader security regulations due to political events such as 911Overwhelming trade barriers around the worldFree Trade Agreement FTAan accord that eases trade restrictions between Canada and the United States which was signed in 1989
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