Introduction to Marketing Chapter 7

Introduction to Marketing Chapter 7 - Introduction to...

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Introduction to Marketing Lecture Outline Chapter 7: Reaching Global Markets Learning Objectives Explain some terms used in International Marketing. Describe factors which are important in International Marketing. Describe common strategies used to enter International Markets. Explain how and why the Marketing Strategy may change in International Markets. Explain the appropriateness of Localized or Standardized strategy. The Following trends are being observed with respect to World Trade: Gradual decline of economic protectionism by individual countries Economic integration and free trade among nations Global competition among global companies for global customers. Decline in Protectionism Protectionism – the practice of protecting industries within a country’s economy from foreign competition through tariffs and quotas. The argument is that such protection is done to protect jobs, discourage economic dependence, national security etc. Tariffs – a tax on goods entering a country, Quota – a physical limit on number of goods allowed into the country. The World Trade Organization (WTO) is an international body that regulates international trade issues. The WTO deals with rules of trade between nations. Their objective is to: encourage free trade as much as possible provide impartial means to settle trade disputes. Economic Integration and Economic Communities Groups of countries are banding together to form regional economic communities such as: NAFTA - decreases the trade barriers between USA, Canada, Mexico. EU – the European Union, which has made Europe into a single and unified market with a strength of 350 million people. Most of the EU countries have adopted a common currency called the Euro making free trade easier. ASEAN – consists of over 10 Southeast Asian countries representing over 503 million
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This note was uploaded on 04/22/2008 for the course MRKT, SOC, 1** taught by Professor Assorted during the Fall '07 term at Simon Fraser.

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Introduction to Marketing Chapter 7 - Introduction to...

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