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IBT merged.pdf - Global trends Export-Import trade • • • •...

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Global trendsExport-Import trade
It is the process of planning and conducting transactionsacross national borders to create exchanges that satisfythe objectives of individual organizations.performance of business activities that direct the flow of thecompany’sgoods and services to consumers in more thanone nation for a profit.There are uncontrollable forces in the macroenvironment.PoliticsCultureGeographyInfrastructureDistributionTechnologyCompetition
It is a tool focuses on international transactions.Other concepts to consider:1.Suppliers2.Marketing adjustments-labelling requirements3.Threats in global competition-imports and exportrestrictions4.Strategic global alternatives-environmental lawsThe primary obstacle to success in international marketing isaperson’s self-reference criterion (SRC)in decision making.This is the unconscious reference to one’s cultural values,experiences, beliefs and knowledge as basis for decisions.
4Ps of marketing also known as factors influencing internationalmktg.(domestic and international marketing)ProductPromotionPlacePricePhases of International Marketing:1.Domestic exporter= operates exclusively within a single country2.Regional exporter= operates within a geographically defined regionthat crosses national boundaries.3. Exporter= runs operations from a central office in the home regionexporting finished goods to various countries4. International exporter= regional operations are autonomous but keydecisions are made and coordinated from central office in the homeregion.
5. Internationalto global exporter= runs independent andmainly self sufficient subsidiaries in a range of countries.Other functions such as research and development andfinancing are decentralized.6. Globalexporter= is a highly decentralized organizationoperating across a broad range of countries.
Stages of international marketing:1. Nodirect marketing- concentrated inthe home market , thefirm’sproducts may reach foreign markets through trading companies,wholesalers, distributors and foreign buyers- No direct effort to export goods2. Infrequentforeign marketing- sales to foreign markets only occurwhen a firm experiences temporary surpluses-No formal effort maintain foreign sales3. Regularforeign marketing- a firm affects a part of its productioncapacity to be marketed on a regular basis for foreign consumers.4. Internationalmarketing- products sold in foreign markets andfirm has became multinational depending on its revenues.5. Globalmarketing-firm- treats its home and international marketsas one.
Benefits of going international:Use of ingenious materialsTechnological developmentExpansion and developmentUnempolyment rate decreasesForeign exchange earnings increaseExcess production capacity is utilizedSeasonality of the products is leveled out
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