International Trade has existed for centuries beginning in 200 B.C. From the mid 1800’s to the early 1920’s Great Britain was the dominant economic power.
Thereis a critical reason why companies need to take global marketing seriously: survival.
Marketing is the process of planning and executing the conception, pricing, promotion , and distribution ofideas, goods, and services to create exchanges that satisfy individual and organization goals.
Global Marketing focuses in its resources in global market opportunities and threats. One differencebetween regular and global marketing is the scope of activities. A company engaged to global marketing conducts important business activities outside home-country market. An understanding of specificconcepts, considerations, and strategies that must be skillfully applied in conjunction with universal marketing fundamentals to ensure success in global markets.
Marketing could be defined as one ofthe functional areas of a business and compromises a firm’s value chain. Competitive pressures have promoted many firms to involve marketers in design, manufacturing, and other value-related decisionsfrom the start. This approach is called boundaryless marketing. The goal is to eliminate the communication barriers between marketing and other functional areas.
The essence of marketing iscreating a perceived value for costumers. The value equation is equal to: Value=benefits/price.
Benefits are a combination of the product, promotion, and distribution.
When a company successes increating more value for costumers than its competitors do, that company is said to enjoy a competitive advantage in an industry.
This is really important since we are living in a globalized world. Agoal industry is one in which competitive advantage can be archived by integrating and leveraging operations on a worldwide scale.
Indicators of globalization include the ratio of cross-border...