BK_Chapter007_Expanded

BK_Chapter007_Expanded - CHAPTER 7 0 Global Marketing...

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Identify the alternative strategies for entering foreign markets. Differentiate between a global marketing strategy and a multidomestic marketing strategy. 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. 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 0
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CHAPTER 7 Global Marketing • Global trade accounts for 29 percent of the U.S. gross domestic product. Exporting Marketing domestically produced goods and services in foreign countries. Importing Purchasing foreign goods and services. 0
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CHAPTER 7 Global Marketing THE IMPORTANCE OF GLOBAL MARKETING 0
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CHAPTER 7 Global Marketing • Global marketing is a necessity as demand for U.S. products increases in fast-growing economies. • Example: U.S. exports to China rose 20 percent in a recent year. • U.S. goods exports worldwide have risen about 72 percent in the last decade. • Example: Wal-Mart , world’s largest retailer, is investing billions in expansion across Europe, Asia, Japan, and the Americas. • Globalization and the Internet allow every marketer to be an international marketer. • Small companies like Bidz.com can succeed by being nimble and capitalizing on downturns in the economy. • Firms also rely on foreign sources for raw materials for their domestic manufacturing operations. 0
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CHAPTER 7 Global Marketing SERVICE AND RETAIL EXPORTS • Four of every five dollars of U.S. GDP comes from services. • Examples: Banking, entertainment, and communications. • Although manufacturing exports are healthier than they were a decade ago there is a profound change from a largely manufacturing to a largely service economy. • U.S. is world’s largest exporter of retailing and services. • Half comes from travel and tourism. • China is expected to become the world’s No. 1 tourist destination before 2020. • Most profitable sector is business and technical services such as engineering, financial, computing, and legal services. • Other important sectors include entertainment and retailing. 0
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Global Marketing BENEFITS OF GOING GLOBAL • Many beyond increased revenue: • New insights into customer behavior. • Alternative distribution strategies. • Advance notice of new products. • Well positioned to compete effectively with foreign competition through increased ability to adapt to local markets. • Example:
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BK_Chapter007_Expanded - CHAPTER 7 0 Global Marketing...

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