8-25-11

8-25-11 - MKT 4443 17:44 How does global marketing evolve...

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Unformatted text preview: MKT 4443 17:44 How does global marketing evolve in the past century? Marketing in Globalization Economy in general way Historical perspective How marketing has been evolving Culture theory As a whole compared to other cultures is a lot larger that in the US More radical More fundamental in peoples way of thinking in value and doing things Economics theory/competition theory Supporting global integration Why we do things together rather than separate Marketing in Globalization Globalizations before the 18 th century (asia centeredancient silk road) Land time (red lines) Afro-Eurasia (biggest trading area) Products traded include tea, silk, satins and other fine fabrics, musk other perfumes, spices and medicines, jewels, glassware, etc. Marine time (blue lines) Afro-Eurasia-American (Europe centered- British East India Company) trade imbalance Great Britain vs. China Opium trade Opium war Not being solved in the right way, UK found that the demand in Chinese products were in such high demand Financial trouble Great Britain vs. USA Tea trade and Tea Act Boston Tea party American Revolutionary War Global conflict WWI and WWII Imperialistic foreign policies The economic cost of WWI weakened the ability of the world to respond to economic crisis Global depression Great Depression in the US Cordell Hull US secretary of state (1933-1944) Conflict: trade issues Trade issues Protectionism The need to balance imports and exports between countires An economical weapon for other purposes Trade barriers Every country seems to take advantage of the open US market while putting barriers in the way of US exports Barriers to trade, both tariff and nontariff, are one of the major issues confronting international marketers Tariff Act of 1930 (Hawlet-Smoot Tariff Act) raises US tariffs (doubled on average) on 20,000imported goods because other countries (Canada, European countires) did so Their impact Retaliation Not helping smooth trading relations Crisis and conflict Conflict: currency issues Currency stability and convertibility Exchange rate The ratio that measures the value of one currency in terms of another currency Freely floating Exchange rate is determined by the currency market forces of supply and demand Currency is changing every second to see how much $1 can get you in euros, etc. Supply and demand Soft currency Not freely traded Will be arranged in some way to be arranged Chineses currency is not freely floating Overseen by government Pegged currency A fixed rate between two currencies Never been changed for past few years Disastrous experience with floating rate in 1930s (e.g, The Interwar Currency Disastrous experience with floating rate in 1930s (e....
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This note was uploaded on 02/14/2012 for the course MKT 4443 taught by Professor Robertmcclaren during the Fall '10 term at LSU.

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8-25-11 - MKT 4443 17:44 How does global marketing evolve...

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