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Global marketing

Marketing lecture14 global marketing and social responsibilities

TermDefinition
Importance of international marketing companies with domestic opportunities only find it difficult to sustain customary rates of growth
Global firm opportunity in more than one country and gaining marketing, production, R&D and financial advantages that are not available to purely domestic competitors.
Tariffs taxes on certain important products... product domestic firms
Quotas limits on the amount of foreign imports (to protect local industry and employment )
exchange control limits on the amount of foreign exchange and the exchange rate against other currencies
non tariff trade barriers restrictive product standards excessive host-controlling regulations
direct exporting the company sells to a customer in another country
indirect exporting the company sells to a buyer in the home country, who in turn exports the product
joint venturing joining with foreign companies to produce or market products or services
direct investment the development of foreign based assembly or manufacturing facilities. -lower costs in terms of labor or raw materials -development of a deeper relationship with government, customers, local suppliers, and distribution -full control over investment
Standardized global marketing using largely the same marketing strategy approaches and marketing mix worldwide
localized global marketing adjusting the marketing strategy and mix elements to each target market
degree of product localization 1.staight product extension 2.product adaptation 3.product invention
Marketer's impact of individual consumers -high prices -deceptive practices -high pressure selling -unsafe products
marketer's impact on society -materialism -cultural pollution
consumerism the activities of various groups to protect basic consumer rights
Consumer bill rights 1.right to safety 2. right to be informed 3.right to redress and to be heard 4.right to choose
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