Marketing Midterm 2 Study Guide

Marketing Midterm 2 Study Guide - Marketing Midterm 2 Study...

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Marketing Midterm 2 Study Guide: Chapter 4: 1. Global Vision: recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets, also stay competitive at home. Often a u.s firms toughest competition comes from forgien competitors. Enables managers to understand that customer and distribution networks operate worldwide, blurring political and geographical barriers. Can be very lucrative for a company. 2. Fears and benefits of globalization: Fears- millions of Americans have lost their jobs due to imports, production shifts abroad, or outsourcing of tech jobs. Most find new jobs that often pay less. Millions of others fear losing their jobs, especially at those companies operating under competitive presuure. Employers often threaten to outsource jobs if workers do not accept pay cuts. Service and white collar jobs are increasingly vulnerable to operations moving offshore. Benefits- relies on competition yo drive down prices and increase product and service quality. Expands economic freedom, spurs competition, raises productivity and living standards of people in contries that open themselves to global market. For less developed countries, globalization also offers access to foreign capital and advanced technology. Faster growth reduces poverty snf promotes higher labor and environmental standards. 3. Multunational coroperations: a compant that is heavily engaged in interational trade, beyond exporting and importing. Often develop their business in stages. They have several worldwide headquarters. These companies can possess and ttansfer the most up to date technology to less developed counries, however critcs claim that it is often the wrong type of technology is transfereed to the developing nations. Usuallym it is capital-intensice ( requiring a greater expenditure for equipment than for labor) and thus does not substantionally increase employment. Multinationalists often support oppressive regines if it is in their best interests. Takes more wealth out of the developing nation than it brings in. 4. Global marketing stadardization: production of uniform products that can be sold in the same way all over the world. Communication and technology have made the world smaller so that almost all consumers everywhere want a;; the things they have heard about, seen or experienced. It presumes that markets throughout the world are becoming more alike, so companies should be abl to lower production and marketing costs and increase profits. 5. Goal of EU and are they effective in achieving: the European union is one of the world most important free trade zones. The primary goal of the eu is to create a unified European market. Common foreign, security and defense policies are also
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goals, as well as European citizenship whereby any EU citizen can live work, vote and run for office for anywhere in member countries. The eu is creating standardized trade rules as well as duties, customs and taxes. The standardization
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