Exam 1 Study Guide

Exam 1 Study Guide - International Marketing Exam 1 Study...

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International Marketing Exam # 1 – Study Guide Chapter 1 Globalization and its implications o Refers to the increasing unification of the world's economic order through reduction of such barriers to international trade as tariffs, export fees, and import quotas. The goal is to increase material wealth, goods, and services through an international division of labor by efficiencies catalyzed by international relations, specialization and competition. It describes the process by which regional economies, societies, and cultures have become integrated through communication, transportation, and trade. The global marketplace Global industry Four levels of globalization Drivers of globalization o Market : Common customer needs, global customers, global channels, transferable marketing, leading markets o Competitive : Common competitors using global strategies o Cost : Scale economies, scope economies, sourcing advantages, avoidance of duplication o Government : Favorable trade policies, acceptance of foreign investment,
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