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23download_doc-3.php - Class 16 I Global marketing a Both...

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Class 16 I. Global marketing a. Both trade and global GDP have gone up for the past 6 years i. But trade has increased more b. China recently accounted for 25% of global exports c. Few industries are now safe from global competition II. Brands and global dimensions a. Basic i. Have significant impact on its value in the eyes of consumers b. Global Dimensions (most important to least) i. Quality Signal 1. Global Brands are perceived as higher quality 2. Viewed as expensive, but reasonably priced for the value provided ii. Global Myth 1. Global brands make people feel like “citizens for the world” 2. Symbols of Cultural ideals iii. Social Responsibility 1. Global brands are expected to address social problems linked to what they sell 2. Consumers don’t demand that local companies tackle global issues III. The dangers of protectionism a. Tariffs b. Quotas c. Non-trade barriers IV.Global marketing → works in both directions
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a. Firms can export products b.
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