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GLOBAL MARKETING AND WORLD TRADE

GLOBAL MARKETING AND WORLD TRADE. Trends that have affected world trade. The decline of economic protectionism Increase in economic integration and free trade Global competition among global companies for global consumers. PP5-3 How Protectionism Affects World Trade. Protectionism.

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GLOBAL MARKETING AND WORLD TRADE

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  1. GLOBAL MARKETING AND WORLD TRADE

  2. Trends that have affected world trade • The decline of economic protectionism • Increase in economic integration and free trade • Global competition among global companies for global consumers

  3. PP5-3 How Protectionism Affects World Trade Protectionism Tariffs Quotas Increase Prices Limit Supply Decreased Global Trade

  4. Global Consumers Global Consumers consist of customer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products and services.

  5. Global Environmental Scan

  6. Cultural Appreciation Values Customs Aspects of culture Symbols Language

  7. Economic Considerations • Stage of Economic Development • Economic Infrastructure • Consumer Income and Purchasing Power • Currency Exchange Rates

  8. Global Market Entry Strategies

  9. Market Entry • Indirect Exporter.

  10. Market Entry • Direct Exporting.

  11. Market Entry • Foreign Production • Licensing • Franchising • Contract Manufacturing • Assembly • Fully Integrated Production • Ownership Strategies • Joint Ventures • Alliances • Acquisitions

  12. Worldwide Marketing Effort

  13. Crafting a Worldwide Marketing Effort • Product and Promotion Strategies Selling Products Globally 1.Product Extension 2. Product Adaptation 3. Product Invention • By recognizing cultural and buying motive differences, firms can sell the same products to different countries by using a communication adaptation strategy. • Some companies use dual adaptation, which means modifying both product and promotion messages.

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