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Prepared by Deborah Baker Texas Christian University

3. Developing a Global Vision. Prepared by Deborah Baker Texas Christian University. Learning Objectives. 1. Discuss the importance of global marketing 2. Discuss the impact of multinational firms on the world economy 3. Describe the external environment facing global marketers.

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Prepared by Deborah Baker Texas Christian University

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  1. 3 Developing aGlobal Vision Prepared by Deborah Baker Texas Christian University

  2. Learning Objectives 1. Discuss the importance of global marketing 2. Discuss the impact of multinational firmson the world economy 3. Describe the external environment facing global marketers

  3. Learning Objectives • Identify the various ways of entering theglobal marketplace • 5. List the basic elements involved in developing a global marketing mix • 6. Discover how the Internet is affectingglobal marketing

  4. Rewards of Global Marketing • Recognize and react to international marketing opportunities • Be aware of threats from foreign competitors • Use international distribution networks 1

  5. 1. Companies operate in one country and sell into others 2. Set up foreign subsidiaries to handle sales 3. Operate an entire line of business in another country 4. Virtual operation Stages of Global Business Development 2

  6. Global Marketing Standardization • World markets are becoming more alike • Standardized products can be sold the same way worldwide • Successful companies may vary products for global markets On Line http://www.cocacola.com http://www.colgate.com 2

  7. Culture Economic and Technological Development Environmental Factors Political Structure Demographic Makeup Natural Resources The External Environment 3

  8. Culture • Language • Religion • Superstitions • Etiquette • Customs • Traditions • Notion of time 3

  9. Developed Country Complex, sophisticated industries Basic industries Less DevelopedCountry Economic and Technological Development On Line http://www.un.org/esa 3

  10. No private ownershipMinimal individual freedom Little central government Maximum personal freedom Political Structure Extremes 3

  11. Legal Structures Encourage or Limit Trade Tariff Quota Boycott Exchange Control Market Grouping Trade Agreement Political and Legal Considerations On Line http://www.wto.org 3

  12. Marketing Considerations Demographic Makeup • Population density • Urban or rural • Personal income • Age 3

  13. Differences in Natural Resources Create… • International dependencies • Shifts of wealth • Inflation and recession • Export opportunities if resources are abundant • Stimulus for military intervention 3

  14. Risk Levels for Global Entry On Line http://www.cat.com High risk/ high return Risk Direct Invest- ment Joint Venture Contract Manu- facturing Licensing Export Low risk/ low return Return 4

  15. Export Intermediaries Buyer for Export Export Broker Export Agent Export Intermediaries 4

  16. Same Product Change Product One Product One Message Product Adaptation Same Message Message Adaptation Product Invention Change Message Product and Promotion On Line http://www.mattelscrabble.com http://www.monopoly.com 5

  17. Pricing • Must consider transportation and insurance costs, taxes and tariffs • Determine what customers will spend • Ensure that foreign buyers will pay them • May need to simplify a product to lower price 5

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