0324536380_77168

0324536380_77168 - 7 CHAPTER Global Marketing Chapter...

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Chapter Objectives Global Marketing CHAPTER 7 1 2 4 6 7 Describe the importance of global marketing from the perspectives of the individual firm and the nation. Identify the major components of the environment for global marketing. Identify the basic functions of GATT, WTO, NAFTA, FTAA, CAFTA-DR, and the European Union. Identify the alternative strategies for entering foreign markets. Differentiate between a global marketing strategy and a multidomestic marketing strategy. Describe the alternative marketing mix strategies used in global marketing. Explain the attractiveness of the United States as a target market for foreign marketers. 5 3
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CHAPTER 7 Global Marketing • Global trade accounts for 27 percent of the U.S. gross domestic product. Exporting Marketing domestically produced goods and services in foreign countries. Importing Purchasing foreign goods and services.
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CHAPTER 7 Global Marketing THE IMPORTANCE OF GLOBAL MARKETING • Global marketing is a necessity as demand for U.S. products increases in fast-growing economies. • Globalization and the Internet allow every marketer to be an international marketer. • Services such as PayPal help small businesses compete with larger firms. • Firms also rely on foreign sources for raw materials for their domestic manufacturing operations.
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CHAPTER 7 Global Marketing SERVICE AND RETAIL EXPORTS • Three of every five dollars of U.S. GDP comes from services. • U.S. manufacturing sector has diminished but is still important. • U.S. is world’s largest exporter of retailing and services. • Most profitable sector is business and technical services such as engineering, financial, computing, and legal services. BENEFITS OF GOING GLOBAL • New insights into customer behavior, alternative distribution strategies, and advance notice of new products. • Enhanced ability to compete effectively with foreign competition through increased adaptability to local markets.
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Global Marketing THE INTERNATIONAL MARKETING ENVIRONMENT • As in domestic markets, marketers must pay attention to local environmental factors. INTERNATIONAL ECONOMIC ENVIRONMENT • Important factors: nation’s size, per-capita income, stage of economic development, and infrastructure. Exchange rate Price of one nation’s currency in terms of another nation’s currency. INTERNATIONAL SOCIAL-CULTURAL ENVIRONMENT
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This note was uploaded on 03/26/2011 for the course MKT 320 taught by Professor Finder during the Spring '08 term at North Alabama.

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0324536380_77168 - 7 CHAPTER Global Marketing Chapter...

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