GLOBAL MARKETING AND WORLD TRADE. Trends that have affected world trade 1.The decline of economic protectionism 2.Increase in economic integration and.

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Presentation transcript:

GLOBAL MARKETING AND WORLD TRADE

Trends that have affected world trade 1.The decline of economic protectionism 2.Increase in economic integration and free trade 3.Global competition among global companies for global consumers

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

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.

Global Environmental Scan

Cultural Appreciation Aspects of culture Values Customs Symbols Language

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

Global Market Entry Strategies

Market Entry Indirect ExporterIndirect Exporter.

Market Entry Direct ExportingDirect Exporting.

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

Worldwide Marketing Effort

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.