Global Marketing Chapter 1 Notes

Chapter 1 Global selling refers to merchandise activities that take couch across national borders and outside of the firms home coarse Involvement in world(prenominal) selling does not mean that a firm must sell its products in every country or region of the world Coordination and integration of marketing strategy with an emphasis on standardization are central tenet of GM Evolution of the conceptDomestic marketing International sales are incidental to marketing strategy Multidomestic marketing unique strategy for each country market Global marketing Focus now on standardization and spheric segments Local marketing Standardization but with a point on the needs of topical anaesthetic customers Glocal market placeing reflects the need for balance among global marketing, with a focus on standardization, and local marketing, with its focus on adaptation to country differences GlobalizationGlobalization refers to the increase integration of the worlds economies. Ongoing gl obal scientific vicissitude in marketing has direct effect on the efficiency and specialty of all transmission line activities. Globalization reflects a business orientation base on the belief that the world is becoming more homogeneous and that distinctions between national markets are not only fading but, for some products, pass on eventually disappear. Forms of globalisation Globalization of markets vs. Globalization of production Drivers of Globalization Market factors convergence of markets, diffusion of telecommunication & internet. Growing of retailers are now screening great flexibility in their strategies for entering new geographic markets * salute factors avoiding cost inefficiencies and duplication of effort are two of the most decently globalization drivers. Economies of scale refers to the reduction in per unit cost of production. Economies of circumstance refers to reduced cost per unit as the firm spreads its total be over a large number of brands, pro duct lines, or commit markets. Environmental factors government barriers meet fallen dramatically in the extend several years and this has further facilitated the globalization of markets and the activities of marketers within them. Rapid technological evolution is contributing to the process. * Competitive factors to remain hawkish, the marketer may have to be the first to do something or to be able to tick off or pre-empt competitors moves. Without a global network, a marketer may run the risk of seeing carefully researched ideas picked off by global players.Market presence may be necessary to execute global strategies and to prevent others from having undue advantage in unchallenged markets. The anti-globalization movement The globalization trend has drawn its fair share of critics over the years. Anti-globalists have denotative concerns about the impact of the trend on the poor, the environment, and on national sovereignty. umpteen anti-globalization protests have turn ed violent in the past Opportunities and challenges in global marketingThe growth of global business activities offers increased opportunities. International activities can be crucial to a firms survival and growth. By transferring intimacy around the globe, an international firm can build and strengthen its competitive position. What is needed is an awareness of global developments, an understanding of their meaning, and a development of capabilities to pose to change. Willing or unwilling, firms are becoming participants in global business affairs.