BUS360RgChptr06Smry

BUS360RgChptr06Smry - North Carolina State University...

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North Carolina State University College of Management BUS 360 Marketing Methods Lecture Summary Chapter 6 Global Marketing Global Marketing Globalization - The process by which goods, services, capital, people, information and ideas flow across national borders Offshoring – Manufacturers procurement of goods and services from around the globe to take advantage of national differences in the cost and quality of various factors of production. Brought about by competitive needs to increase efficiency and reduce costs and thereby be more competitive Facilitating Factors GATT – General Agreement on Tariffs and Trade – Lowers trade barriers such as: - High tariffs on imported goods - Restrictions on number and types of imported goods Replaced by: WTO – World Trade Organization – An international institution based in Geneva Switzerland that deals with the global rules of trade among nations. It: - Ensures trade flows smoothly and predictably - Administers trade agreements - Acts as forum for trade negotiations - Settles trade disputes - Reviews national trade policies - Help developing nations with international trade International Monetary Fund – Established with the original GATT to promote international monetary cooperation and facilitate expansion and growth of international trade. World Bank Group – Development bank that provides loans, policy advice, technical assistance, and knowledge services to low and middle income countries to reduce poverty in the developing world. Assessing Global Markets Economic Analysis The greater the wealth of the country the greater the opportunity Must look at three major economic factors 1. General economic environment BUS 360Rg Chapter 6 Summary Instructor Weems
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2. Population size and growth rate 3. Real income Measures Used to Evaluate 1. Evaluating Relative level of imports and exports - Trade deficit can mean greater potential for competition - Trade surplus signals greater opportunity to export more products 2. Evaluating Market Size and Potential - Gross Domestic Product – Market value of goods and services produced by a country in a year
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BUS360RgChptr06Smry - North Carolina State University...

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