P5126 INTERNATIONAL MARKETING

History and Geography: The Foundations of Culture What Should You Learn? The importance of history and geography in the understanding of international markets The effects of history on a country’s culture How culture interprets events through its own eyes How the United States moved west and how this more affected attitudes The effect of geographic diversity on economic profiles of a country Why markets need to be responsive to geography of a country Economic effects of controlling population growth versus aging population Communications are an integral part of international commerce The importance of culture to an international marketer The origins and elements of culture The impact of cultural borrowing The strategy of planned change and its consequences History Perspective in Global Business History helps define a nation’s mission         - How it perceives its neighbors - How it perceives itself - Its place in the world Insights into history are important

1)  What does a nation's balance-of-payments statement indicate? 2)  A nation's balance-of-payments statement includes three accounts. Describe each of      those three (3) accounts. 3)  Using three examples, describe how nontariff barriers are used to restrict imports. 4)  Briefly describe the history and impact of the General Agreement on Tariffs and Trade      (GATT). 5)  Briefly describe how the World Trade Organization (WTO) functions. Fill in the Blank Questions 1)  The ______________ and the ________________ are two global institutions created to      assist nations in becoming and remaining economically viable. 2)  The ___________ is an institution, not an agreement as was GATT. 3)  A __________ is a specific unit or dollar limit applied to a particular type of good. 4)  A _________ is a tax imposed by a government on goods entering at its borders. 5)  A _________ is a tax imposed by a government on goods entering at its borders. 6) 

What Should You Learn? The basis for the reestablishment of world trade following World War II The importance of balance-of-payment figures to a country’s economy The effects of protectionism on world trade The seven types of trade barriers The importance of GATT and the World Trade Organization The emergence of the IMF and the World Bank. Global Perspective Trade Barriers – An International Marketer’s Minefield :- - Countries take advantage of U.S. open markets while putting barriers in the way of U.S.   exports. - Tariff and nontariff barriers to trade are major issues confronting international marketers. - To realize the benefits of the social, political, and economic changes, free trade must    prevail throughout the global marketplace. - WTO (World Trade Organization) Balance of Payments – The system of accounts that records a nation’s international finance transactions - Transactions recorded annually - Must always be in ba

1.  Define:           a) International marketing                          b) Foreign uncontrollables           c) Controllable elements                  d) Uncontrollable elements           e) Domestic uncontrollables            f) Global awareness 2.  Differentiate among the three (3) international marketing concepts. Companies can        be described by one of three orientations to international marketing management:           a) Domestic Market Expansion Concept           b) Multi‑Domestic Market Concept           c) Global Marketing Concept 3.  Define and discuss the idea of global orientation. 4.  Discuss the four phases of international marketing involvement.                                     - ALL THE BEST -

Events and Trends Affecting Global Business The rapid growth of the World Trade Organization and regional free trade areas . The trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe . The burgeoning impact of the Internet, mobile phones, and other global media on the dissolution of national borders . The mandate to properly manage the resources and global environment for the generations to come   The Scope and Challenge of International Marketing Performance of business activities designed to :- Plan Price Promote, and Direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit Stages of International Marketing Involvement No direct foreign marketing Infrequent foreign marketing Regular foreign marketing International marketing Global marketing No Direct Foreign Marketing - Products reach foreign markets indirectly :- Trading companie