Managing Marketing in the Global Economy. Key Concepts. Global Firm. Operates in two or more countries and captures R&D, production, logistics, marketing, and finance advantages not available to purely domestic competitors. Breakthrough Marketing: Samsung.
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Managing Marketing in the Global Economy
Operates in two or more countries and captures R&D, production, logistics, marketing, and finance advantages not available to purely domestic competitors.
Factors drawing companies into the international arena:
Income and population
Standardized marketing mix
Adapted marketing mix
Discuss whether these products should standardize or adapt when selling in the United States:
Distinct attitudes and beliefs about brands or products from particular countries.
Requires that everyone in the organization buy into the concepts and goals of marketing and engage in choosing, providing, and communicating customer value.
The process that turns marketing plans into action assignments and ensures that they accomplish the plan’s stated objectives.
Customer readiness to buy metrics
A comprehensive, systematic, independent, and periodic examination of a company’s (or business unit’s) marketing environment, objectives, strategies, and activities to identify problems and opportunities and to recommend improvements.
Social responsibility behavior
Think of other examples of cause-related marketing.
Reflect on the case of Cabbages & Condoms campaign in Thailand