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Chapter 8 Notes (Textbook).docx - Chapter 8 Notes Global...

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Chapter 8 NotesGlobal MarketingLearning ObjectivesDescribe the components of a country market assessmentUnderstand the marketing opportunities in BRIC countriesIdentify the various market entry strategiesHighlight the similarities and differences between a domestic marketing strategy and a globalmarketing strategyChapter overview example:Netflix has 34 million users in the U.S. but to expand worldwide it cannot just show American cultureentertainment but adhere to each country own specific laws and own culture to attract more customer.This means to penetrate overseas markets Netflix will operate at a loss working to gain traction andmembership.GlobalizationI.Globalization: Refers to the processes by which goods, services, capital, people, information andideas flow across national borders.a.Global markets are the result of serval fundamental changes such as reduction oreliminations of trade barriers by country governments, the decreasing concerns ofdistance and time about moving products and ideas across countries.b.Each of these fundamental has paved the way for marketing to flourish in othercountries.Assessing Global MarketsII.With the increased globalization markets must see the opportunities of developing markets inother countries.III.Four Criteria necessary to asses a country’s marketa.Economic Analysis,i.General Economic environmentii.Marek Size and Population growthiii.Real Incomeb.Infrastructure and Technological analysisi.Transportation Channelsii.Communicationiii.Commercec.Government action or Inactions,i.Tariffsii.Exchange Controliii.Trade Agreementd.Sociocultural analysisi.Power Distanceii.Individualismiii.Masculinity
iv.Time OrientateIV.Economic Analysis Using Metricsa.The greater the wealth in a country usually the better the opportunity a firm will have inthe country.Uses Three Main Metrics: General Economic Environment, Market Size andPopulation Growth rate, and real income.b.Evaluating the Genera Economic Environment1.Trade Deficit: When a country imports more goods than it exports.

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Term
Spring
Professor
Bagwhandee
Tags
Marketing, International Trade, i, population growth rate, general economic environment, country market assessment

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