Ch. 1 - The Global Marketing Imperative
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Transcript of Ch. 1 - The Global Marketing Imperative
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International Marketing
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CHAPTER 1
The Global Marketing
Imperative
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I. International Marketing Definition
International Marketing - is the process of planning and conducting transactions across international borders to create exchanges that satisfy the objectives of individuals and organizations.
The Global Marketing Imperative
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II. Why Global Marketing is Imperative
1) Saturation of domestic markets
2) Global competition intensifying.
3) Need for global cooperation
4) Internet: The Internet and electronic commerce revolution
5) Expanding market opportunities.
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Selected U.S. Companies and Their International Sales
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Why Global Marketing is Imperative
“If we only distributed pictures in the U.S., we’d lose money. It takes the whole world now to make the economics of movie-making work”
- William Mechanic
President, 20th Century Fox
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Foreign Acquisitions of U.S. Companies
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III. The Importance of World Trade
World trade in merchandise: from $6.2 trillion in 2000 to over $15.1 trillion in 2008.
World trade in services: from $1.5 trillion to $3.3 trillion.
Global growth of trade has outperformed the growth of domestic economies in the past few decades.
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III. The Importance of World Trade
Provides new marketing opportunities such:
- investment on a global scale
- international specialization and cross-sourcing
- increased quality and variety of goods
- access to otherwise unavailable goods
- access to talent, new management knowhow
- use of technology to enhance business functioning, etc.
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IV. Advantages of International Trade for Consumers
Better quality More quantity Greater variety within product categories More customized products/Services Lower prices Choice of products not available without international trade
(silk, diamonds, coffee, bananas, mica, chromium, and much more.)IK
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V. Advantages of International Trade for Firms
Access to:– Bigger markets– Foreign resources– New management knowledge– New technologies
Experience with selling to diverse marketsChance to deal with different forms of governmentsChance to work in different competitive environmentsEnhanced ability to compete in home market
IK
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VI. Global Marketing
Company treats world, including home market as one market
Market segmentation decisions no longer focused on national borders Defined by income levels, usage patterns, or other
factors
More than half of revenues come from abroadOrganization takes on global perspective