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Business and Management
BMGT 350
Roxanne Leftkoff

BMGT 35021614Chapter 5Developing a Global VisionGlobal marketing marketing that targets markets throughout the worldGlobal vision recognizing and reacting to international marketing opportunities using effective global marketing strategies and being aware of threats from foreign competitors in all marketsImportance of Global Marketing to the United StatesGross domestic product total market value of all final goods and services produced in a country for a given time periodExports are 13of US GDPImpact of Trade and GlobalizationNegatives of world tradeLost jobs because of imports production shifts abroad outsource tech jobsThreaten to outsource jobs if dont accept pay cutsJob outsourcing sending US jobs abroadCost saving but lose jobsBenefits of globalizationExpands economic freedom spurs competition raises productivity and living standardsGives access to foreign capital keeps government in check so they dont become to powerfulMultinational firmsMultinational Corporation company that is heavily engaged in international trade beyond exporting and importingGoods services skills resources1 operate in one country sell in another2 foreign subsidiaries to handle sales in one country3 operate entire line of business in another country 4 executive suite is virtual finding the best to put in office to gain competitive advantageAre Multinationals BeneficialCapital intensive using more capital than labor in the production process Say can bring more wealth out than inGlobal Marketing Standardization production of uniform products that can be sold the same way all around the worldMarkets around the world are becoming more alike lower production costs and increase profits
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