Chapter%207%20Student%20Handouts - International Firms-Based in one country but market to others using similar marketing tactics Multi-National

Figure 7-1, p. 170: World Trade Flows

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Figure 7-4, p. 176: Figure 7-4, p. 176: The countries of the European Union in 2006

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1 Euro Coin (Common Side) 1 Euro Coin (Greek) 5 Euro Bank Note (Common Side) 5 Euro Bank Note (French) Euro Coins and Currency Will these promote economic integration?

Global Marketing Recent growth in global marketing has been huge. Contributing factors include….  Decline in Economic Protectionism (GATT/WTO)  Rise in Economic Integration / Free Trade (EU, NAFTA)  Global Competition Among Global Companies for Global Consumers IKEA  Development of a Networked Global Marketspace (New Technology)  Other Contributing Factors: -Political Developments -Development in Developing Countries -More Corporate Global Alliances Did You Know?

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Three Different Types of Firms….

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Unformatted text preview: International Firms--Based in one country, but market to others using similar marketing tactics. Multi-National Firms--Markets the same basic products in different countries using different strategies (a multi-domestic marketing strategy). Nestle Transnationals--Uses a global marketing strategy, adapting where needed Gillette Reasons Why to Enter Foreign Markets To counter adverse economic factors at home To counter saturated home markets To extend a product’s life cycle To reduce or avoid competition To enhance economies of scale in production To dispose of inventories To export new technology Ways to Enter Foreign Markets Export (direct and indirect) License Joint Venture Direct Investments Increasing Risk and Profit Potential Factors to Consider When Entering Foreign Markets…. Cultural Diversity The Local Economy Political Climate and Regulation...
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