MKBU 3225 Chapter Notes - Chapter 19: World Trade Organization, Union Of South American Nations, Income Distribution
13 Dec 2016
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Global firm: firm that, by operating in 1+ country, gains r&d, production, marketing, & financial advantages in its costs & reputation that aren"t available to purely domestic competitors. 6 major decisions in international marketing looking @ global marketing environment deciding which markets to enter deciding on global marketing program deciding whether to go global deciding how to enter market deciding on global marketing organization. Firm may face restrictions on trade between nations: tariffs/duties, quotas, exchange controls, nontariff trade barriers (ex: biases vs. bids, restrictive product standards, excessive host-country regulations/enforcement, etc. ) World trade organization (wto: designed to promote world trade by reducing tariffs other international trade barriers, imposes international trade sanctions & mediates global trade disputes. Regional free trade zones: economic communities: group of nations organized to work toward common goals in regulation of international trade, ex: eu, nafta, cafta-dr, unasur. 2 economic factors reflect country"s attractiveness as market: industrial structure. Shapes product & service needs, income levels, & employment levels.
