GLOBAL VISION

1
GLOBAL VISION

• Global Marketing
• Marketing to target markets throughout the world
• Global Vision
• Recognizing and reacting to international
  marketing opportunities, being aware of threats
  from foreign competitors in all markets, and
  effectively using international distribution
  channels.

2
MULTINATIONAL CORPORATION

• A company heavily engaged in international trade,
  beyond importing and exporting.
• Moves resources, goods, services, and skills
  across national boundaries.
• Important questions
• Do only multinational corporations need to be
  aware of the global environment?
• Do only multinational corporations need to be
  concerned about global competition?

3
GLOBAL MARKETING STANDARDIZATION

• Premise
• The world is becoming smaller.
• Markets are becoming standardized, or alike.
• Global Marketing Standardization
• Production of uniform products that can be sold
  the same way all over the world.
• Does this work? When?

4
ENVIRONMENTAL SCANNING

• Environmental scanning was addressed in Chapter 2
• The same concept is applied to international
  markets
• Because of lack of intuitive knowledge of the
  environment, international environmental scanning
  is even more crucial than domestic

5
Economic Development

• Traditional Society
• Earliest stages of economic development
• Preindustrial Society
• Emergence of middle class, entrepreneurial spirit
• Takeoff Economy
• Transition from developing to developed systems
• Industrializing Society
• Technology spreads from the innovators, growth of
  middle class
• Fully Industrialized Society
• Exports manufactured products

6
Sociocultural Environment

• Values
• Language
• Time
• Friendships
• Agreements

7
Political/Legal Environment

• Encourage or Limit Trade
• Tariff
• Quota
• Boycott
• Exchange control
• Market grouping
• Trade agreement

8
Global Marketing

• Export
• Licensing
• Contract Manufacturing
• Joint Venture
• Direct Investment

9
GLOBAL MARKETING MIX

• One product, one message
• global standardization
• Product invention
• Message adaptation
• most common
• Product adaptation