midtermglobal - Global Marketing as can be defined as The...

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Global Marketing, as can be defined as “The process of conceptualizing and then conveying a final product or service worldwide with the hopes of reaching the international marketing community.” (Business Dictionary) Taking your business to other parts of the globe can be a risky but very rewarding decision. If a business does the necessary research thoroughly, the downfalls may be minimal and they are left with nothing to do but reap the benefits. There are many steps to be taken before making the final decision to enter into the global market. There is an in depth analysis that a firm must do in order to seek the necessary information needed to determine if entering another country would benefit their company. The first analysis they will conduct is an economic analysis. This will help the firm get a better understanding of a countries wealth, and whether or not they will prosper if they will relocate. They will look at several different factors that will guide them in the right direction. The first factor they will analyze is the countries general economic environment. They can do this in several different ways, a few of them being if the country is in a trade deficit or a trade surplus. This means that hey country can either import more goods, or has a greater number of exports. It would be wise for a firm to enter a country that has more exports, or ahs a trade surplus, because then they have a better chance at shipping their product out of the country to other countries. The most common way to check a countries economic environment is to look at its gross domestic product (GDP) and the gross national income (GNI). Gross domestic product shows how much out put a country has produced in a year. The GDP is then combined with the net income of the country to get the GNI. Another important factor that a firm must consider is the human development index (HDI). This measures the quality of life in a country has, and whether or not they are able to meet their own needs sufficiently. The HDI has three indicators which are life expectancy,
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education and income. This is important because if a country is not able to meet their own needs
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midtermglobal - Global Marketing as can be defined as The...

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