MKTG 105 - Chapter 5 - Chapter 5 Developing a Global Vision...

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Chapter 5: Developing a Global Vision Global marketing: create value by improving benefits and reducing price - value = benefits/price Global industries: global to the extent that a company’s position in one country is interdependent with their position in another Globalization: greater economic, cultural, political and technological interdependence among national institutions/economies Global marketing standardization: production of uniform products that can be sold the same way worldwide - standardization: mass marketing - adaptation: segmentation Culture: common set of values shared by citizens that determine what is socially acceptable - power distance - uncertainty avoidance - individualism - masculine/feminine - time orientation Developed country: complex industries Less developed: basic industries Government actions: - tariff: tax on imports - quota: limit on amount of imports - boycott: exclusion from country - exchange control: foreign exchange must be sold to control agency
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Unformatted text preview: Risk level for global entry:-export: sell to foreign (lowest risk)-licensing: legal process allowing use of manufacturing, patents, knowledge-contract manufacturing: private-label manufacturing in foreign-joint venture: domestic buys/joins foreign-direct investment: active ownership abroad (highest risk) Product and promotion:-same product, same message: 1 product, 1 message-same message, change product: product adaptation-change message, same product: message adaptation-change message, change product: product invention Global issues: -fair wages-working conditions-child labor Countertrade: all or part of payment for goods/services is in the form of other goods/services Dumping: trying to increase an overseas market-temporarily placing products in overseas market to offset slack in demand at home-lowering unit cost-maintain stable prices during exchange rate fluctuation...
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  • Spring '13
  • Collins
  • Marketing, International Trade, global marketing standardization, global vision, overseas market, exchange rate fluctuation, temporarily placing products

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