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Chapter Objectives
1 Describe the importance 4 Identify the alternative 6 Describe the alternative
of global marketing from strategies for entering marketing mix strategies
the perspectives of the foreign markets. used in global marketing.
individual firm and the
Differentiate between a Explain the attractiveness
nation.
5 global marketing strategy 7 of the United States as a
2 Identify the major and a multidomestic target market for foreign
components of the marketing strategy. marketers.
environment for global
marketing.
3 Identify the basic
functions of GATT,
WTO, NAFTA, FTAA,
CAFTA-DR, and the
European Union.
CHAPTER 7 Global Marketing
• Global trade accounts for 27 percent of the U.S. gross domestic product.
• Exporting Marketing domestically produced goods and services in foreign
countries.
• Importing Purchasing foreign goods and services.
CHAPTER 7 Global Marketing
TRADE BARRIERS
• Tariff Tax levied against imported goods.
• Two types: revenue tariffs and protective tariffs.
• Administrative barriers—such as quotas, restrictive standards for imports,
and export subsidies—and import license controls
• Import quotas Trade restrictions that limit the number of units of certain
goods that can enter a country for resale.
• Embargo, a complete ban on the import of a product.
• Other barriers include subsidies, limits on foreign ownership, extensive
regulatory barriers, and exchange control.
DUMPING
• Practice of selling a product in a foreign market at a price lower than it
commands in the producer’s domestic market.
CHAPTER 7 Global Marketing
GOING GLOBAL
• Globalization affects everyone in the world in some way.
• Marketers may go global is their domestic market is saturated or they have
strong domestic share.
• Most large firms participate in global commerce.
CHAPTER 7 Global Marketing
CONTRACTUAL AGREEMENTS
• Provide flexibility and may be good ways to take services
abroad.
• Franchise Contractual arrangement in which a wholesaler or
retailer agrees to meet the operating requirements of a
manufacturer or other franchiser.
• Foreign licensing Agreement that grants foreign marketers
the right to distribute a firm’s merchandise or to use its
trademark, patent, or process in a specified geographic area.
• Subcontracting—production of goods and services assigned
to local companies.
• Can prevent misunderstanding of local culture and
regulations and provide protection from import duties.
CHAPTER 7 Global Marketing
DEVELOPING AN INTERNATIONAL
MARKETING STRATEGY
• Global marketing strategy.
• Defines a standard marketing mix and implements it with minimal
modification in all foreign markets.
• Brings advantage of economies of scale and saves money.
• Works well for products with strong universal appeal and luxury
products.
• Multidomestic strategy.
• Customization of marketing strategies to to effectively reach
individual markets.
• Allows flexibility for responding to cultural, geographic, and
language differences.
CHAPTER 7 Global Marketing
PRICING STRATEGY
• Competitive, economic, political, and legal factors can limit pricing
decisions.
• Must adapt to local markets: Hindustan Lever offers “penny packets” of
shampoo to customers in India who cannot afford an entire bottle.
COUNTERTRADE
• Countertrade Form of exporting whereby goods and services are bartered
rather than sold for cash.
CHAPTER 7 Global Marketing