Global Marketing Slide

MKT4703 | Global Marketing
Md Rakibul Hassan
Associate Professor, Department of Marketing
Jahangirnagar University
7-2
Brand and Product Decisions in Global

Marketing
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7-3 Chapter Objectives
 Review the basic product concepts that underline a successful global
marketing product strategy.
 Compare and contrast local products and brands, international
products and brands, and global products and brands.
 Explain how Maslow’s needs hierarchy helps global marketers
understand the benefits sought by buyers in different parts of the
world.
 Outline the importance of “country of origin” as a brand element.
 List the five strategic alternatives that marketers can utilize during the
global product planning process.
 Explain the new-product continuum and compare and contrast the
different types of innovation.
7-4 Basic Product Concepts

A product is a good, service, or idea with both tangible and intangible attributes
that collectively create value for a buyer or user.
Tangible attributes can be assessed in physical terms, such as weight, dimensions, or
materials used.
Intangible attributes, including the status associated with product ownership, a
manufacturer’s service commitment, and a brand’s overall reputation or mystique,
are also important.
 Product Types
 Product Warranties
 Packaging
 Labeling
 Aesthetics
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7-5 Basic Branding Concepts
A brand is a complex bundle of images and experiences in the customer’s mind.
Brands perform a promise by a particular company regarding a particular product;
it is a type of quality certification. brands enable customers to better organize their
shopping experience by helping them seek out and find a particular product.
Brand image, defined as perceptions about a brand as reflected by brand
associations that consumers hold in their memories.
Brand equity, which represents the total value that accrues to a product as a result
of a company’s cumulative investments in the marketing of the brand.
 Greater loyalty
 Less vulnerability to marketing actions
 Less vulnerability to marketing crises
 Larger margins
 More inelastic consumer response to price increases
 More elastic consumer response to price decreases
 Increased marketing communication effectiveness
7-6 Approaches to Global Brand Development
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7-7 A Needs-Based Approach to Product Planning
7-8 Needs-Based Approach to Product Planning Cont’d

Products can fulfill different needs in different countries.
Consider the refrigerator as used in industrialized, high-income countries. The
primary function of the refrigerator in these countries is related to basic needs
as fulfilled in that society.
In lower-income countries, by contrast, frozen foods are not widely available.

Homemakers shop for food daily rather than weekly. The function of the
refrigerator in a lower-income country is to store small quantities of perishable
food for one day and to store leftovers for slightly longer periods.
In some developing countries, refrigerators have an important secondary

purpose related to higher-order needs: They fulfill a need for prestige. In these
countries, there is demand for the largest model available, which is
prominently displayed in the living room rather than hidden in the kitchen.
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7-9 “Country of Origin” as Brand Element
Perceptions about and attitudes toward particular countries often extend to
products and brands known to originate in those countries. Such perceptions
contribute to the country-of-origin effect; they become part of a brand’s
image and contribute to brand equity. This is particularly true for automobiles,
electronics, fashion, beer, recorded music, and certain other product
categories.
Perceptions and attitudes about a product’s origins can be positive or

negative. On the positive side, as one marketing expert pointed out in the
mid-1990s, “‘German’ is synonymous with quality engineering, ‘Italian’ is
synonymous with style, and ‘French’ is synonymous with chic.”
Italian luxury goods marketer Tod’s, explains: “Made in Italy” will retain its luster because it
is still the maximum guarantee of high quality for products such as ours. Like the French for
perfume, the Swiss for watches. The Chinese do not want to buy “Made in China.”
7-10 Global Product Planning: Strategic Alternatives

The extension/adaptation/creation decision is one of the most fundamental
issues addressed by a company’s global marketing strategy. Laws and
regulations in different countries frequently lead to obligatory product design
adaptations.
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7-11 Global Product Planning: Strategic Alternatives Example
7-12 New Products in Global Marketing

Marketers should look for opportunities to create global advertising campaigns to
support the new product or brand.
Identifying New-Product Ideas

 Discontinuous innovations, products that belong to this category of “new and
different” literally represent a break with the past.
 Dynamically continuous innovations share certain features with earlier
generations while incorporating new features that offer added value, such as
a substantial improvement in performance or greater convenience.
 Continuous innovation typically “new and improved” versions of existing ones
and require less R&D expenditure to develop than dynamically continuous
innovations.
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7-13 New Products in Global Marketing (Cont’d)
New-Product Development
A major driver for the development of global products is the cost of product R&D. As
competition intensifies, companies discover they can reduce the cost of R&D for a
product by developing a global product design. Often the goal is to create a single
platform, or core product design element or component, that can be quickly and
cheaply adapted to various country markets.
7-14 New Products in Global Marketing (Cont’d)

The International New-Product Department
 How big is the market for this product at various prices?
 What are the likely competitive moves in response to our activity with this product?
 Can we market the product through our existing structure? If not, what changes will
be required, and what costs will be incurred to make the changes?
 Given estimates of potential demand for this product at specified prices and
estimated levels of competition, can we source the product at a cost that will yield
an adequate profit?
 Does this product fit our strategic development plan? (i) Is the product consistent
with our overall goals and objectives? (ii) Is the product consistent with our
available resources & management structure? (iii) Does the product have
adequate global potential?
Testing New Products
It is important to test a product under actual market conditions before proceeding with
full-scale introduction. A test does not necessarily involve a full-scale test-marketing effort.
It may simply involve observing the actual use of the product in the target market.
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7-15 Discussion and It is time for you…………..
How can buyer attitudes about a product’s country of origin

affect marketing strategy?
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1-17
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Md Rakibul Hassan
6-2 Segmentation, Targeting, and Positioning
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 Identify the variables that global marketers can use to segment global
markets, and give an example of each.
 Explain the criteria that global marketers use to choose specific
markets to target.
 Understand how global marketers use a product-market grid to make
targeting decisions.
 Compare and contrast the three main target market strategy options.
 Describe the various positioning options available to global marketers
6-4 What is Global Market Segmentation?

Global market segmentation has been defined as the process of identifying
specific segments— whether they be country groups or individual consumer
groups—of potential customers with homogeneous attributes who are likely to
exhibit similar responses to a company’s marketing mix.
Global market segmentation is based on the premise that companies should

attempt to identify consumers in different countries who share similar needs and
desires.
For Example,
Dove, a division of Unilever, traditionally targeted women with its Dove-branded
skin-care products. In 2010, the company launched a new brand, Men Care. The
move prompted marketers at rival-brand Old Spice to launch humorous TV ads
poking fun at guys who use “lady-scented body wash”—a clear jab at Dove.
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6-5 Variables of global markets Segmentation
The process of global market segmentation begins with the choice of one or more
variables to use as a basis for grouping customers.
Common variables include demographics (including national income and size of
population), psychographics (values, attitudes, and lifestyles), behavioral
characteristics, and benefits sought. It is also possible to cluster different national
markets in terms of their environments—for example, the presence or absence of
Government regulation in a particular industry—to establish groupings.
Demographic Segmentation
Demographic segmentation is based on measurable characteristics of populations,
such as income, population, age distribution, gender, education, and occupation. A
number of global demographic trends—fewer married couples, smaller family size,
changing roles of women, higher incomes and living standards
 Income and Population
 Age Segmentation
 global elite,
 Gender Segmentation
6-6 Variables of global markets Segmentation (Cont’d)

Psychographic Segmentation
Psychographic segmentation involves grouping people in terms of their attitudes, values, and
lifestyles. It consists:
 Successful Idealists. Comprising from 5 to 20 percent of the population, this segment
consists of persons who have achieved professional and material success while
maintaining commitment to abstract or socially responsible ideals.
 Affluent Materialists. These status-conscious “up-and-comers”—many of whom are business
professionals—use conspicuous consumption to communicate their success to others.
 Comfortable Belongers: Comprising one-fourth to one-half of a country’s population, this
group, like Global Scan’s Adapters and Traditional, is conservative and most comfortable
with the familiar. Belongers are content with the comfort of home, family, friends, and
community.
 Disaffected Survivors. Lacking power and affluence, this segment harbors little hope for
upward mobility and tends to be either resentful or resigned. This segment is concentrated
in high-crime, inner-city-type neighborhoods. Despite Disaffecteds’ lack of societal status,
their attitudes nevertheless tend to affect the rest of society.
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Behavior Segmentation
Behavior segmentation focuses on whether people buy and use a
product, as well as how often and how much they use or consume.
 usage rates: heavy, medium, light, or nonuser.
 user status: potential users, nonusers, ex-users, regulars, first-timers, or
users of competitors’ products.
Benefit Segmentation
Global benefit segmentation approach is based on marketers’ superior
understanding of the problem a product solves, the benefit it offers, or the
issue it addresses, regardless of geography.
Ethnic Segmentation
In many countries, the population includes ethnic groups of significant size.
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6-9 Market Potential and Choosing Target Markets
After segmenting the market by one or more of the criteria just discussed, the
next step is to assess the attractiveness of the identified segments. This part of
the process is especially important when sizing up emerging country markets
as potential targets.
 Current Segment Size and Growth Potential
Image: Alipay and WeChat

pay are the preferred mobile
payments platforms in China,
commanding more than 90
percent of the market. Chinese
consumers prefer using their
phones as digital wallets rather
than paying in cash.
6-10 Market Potential and Choosing Target Markets (Cont’d)
 Potential Competition
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6-11 Market Potential and Choosing Target Markets (Cont’d)
 Feasibility and Compatibility
• Will adaptation be required? If so, is this move economically justifiable in terms of the
expected sales volume?
• Will import restrictions, high tariffs, or a strong home-country currency drive up the price of
the product in the target-market currency and effectively dampen demand?
• Is it advisable to source locally? In many cases, reaching global market segments requires
considerable expenditures for distribution and travel by company personnel. Would it
make sense to source products in the country for export elsewhere in the region?
 A Framework for Selecting Target Markets
• Marketing model drivers
6-12 Screening Criteria for Market Segments

One way to determine the marketing model drivers and
enabling conditions is to create a product–market profile.
 Who buys our product or brand?
 Who does not buy our product or brand?
 What need or function does our product serve? Does
our product or brand address that need?
 Is there a market need that is not being met by
current product or brand offerings?
 What problem does our product solve?
 What are customers currently buying to satisfy the
need, or solve the problem, that our product targets?
 What price are they paying for the product they are
currently buying?
 When is our product purchased?
 Where is our product purchased?
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6-13 Targeting and Target Market Strategy Options
After evaluating the identified segments in terms of the three criteria presented, a
decision is made whether to pursue a particular opportunity. Not surprisingly, in
global marketing one fundamental decision concerns which country or regional
market(s) to enter.
 Standardized Global Marketing: Standardized global marketing
/undifferentiated target marketing is analogous to mass marketing in a single
country. It involves creating the same marketing mix for a broad mass market of
potential buyers.
 Concentrated Global Marketing: involves devising a marketing mix to reach a
niche. A niche is simply a single segment of the global market.
 Differentiated Global Marketing: represents a more ambitious approach than
concentrated target marketing. Also known as multi-segment targeting, this
approach entails targeting two or more distinct market segments with multiple
marketing mix offerings. This strategy allows a company to achieve wider
market coverage.
6-14 Various positioning options available to global marketers.

Positioning refers to the act of differentiating a brand in customers’ minds in relation
to competitors in terms of attributes and benefits that the brand does and does not
offer.
 Attribute or Benefit: positioning strategy exploits a particular product attribute,
benefit, or feature. Economy, reliability, and durability are frequently used
attribute/benefit positions.
 Quality and Price: strategy can be thought of in terms of a continuum from
high-fashion/quality and high price to good value (rather than “low quality”) at
a reasonable price.
 Use or User: strategy represents how a product is used or associates the brand
with a user or class of users.
 Competition:
 Global, Foreign, and Local Consumer Culture Positioning:
• Global consumer culture positioning
• Foreign consumer culture positioning
• local consumer culture positioning
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Describe how the automobile, telecommunications, and real

estate companies have transformed some of their products or
services in targeting the elderly market.
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1-17
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Md Rakibul Hassan
1-2
Introduction to Global Marketing
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1. Meaning of Global Marketing
2. Drivers of Global Marketing
3. Why Company Engage in Global Marketing?
4. The International Marketing Task
5. Use the product/market growth matrix to explain the various ways a
company can expand globally.
6. Describe how companies in global industries pursue competitive advantage.
7. Compare and contrast single-country marketing strategy with global
marketing strategy (GMS).
8. Explain the stages a company goes through as its management orientation
evolves from domestic and ethnocentric to global and geocentric.
9. Discuss the driving and restraining forces affecting global integration today.
1-4 Definition of Global Marketing

Global Marketing focuses resources on global market opportunities and threats;
the main difference is the scope of activities because global marketing occurs in
markets outside the organization’s home country.
Global marketing is basically the

beginning, middle, and end of how
a business organizes, creates,
positions, and advertises its products
and services on a global scale.
Giant corporations have always had
their hands in global marketing
through having operations,
representatives, and employees in
other countries.
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1-5 Drivers of Global Marketing
 Limited Home Market

 Excess of Production
 Global Marketplace
 Emerging Markets
 Growth in Market Share
 Higher Rate of Profits
 Political Stability
 Technology and Communication
 Difference in Tax systems
 Cultural Exchange
1-6 Why Company Engage in Global Marketing?

Growth
Access to new markets
Access to resources
To Diversify or Reduce Risks
Create economies of scale
Survival
Against competitors with lower costs (due
to increased access to resources)
Offset slow growth in your home market
Others
Create jobs.
Explore untapped markets
use of excess capacity
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What are the basic goals of marketing? Are these goals relevant
to global marketing? Why or why not? Discuss.
1-8 The International Marketing Task
• Marketing
Decision Factors
• Aspects of the
Domestic
Environment
• Aspects of the
Foreign
Environment
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1-9 Product/Market Growth Matrix to Explain Expansion Globally
1-10 How Companies Pursue Competitive Advantage?
A competitive advantage is an advantage over competitors gained by

offering consumers greater value, either by means of lower prices or by
providing greater benefits and service that justifies higher prices.
 Integrating and Leveraging Operation
 Strategic Focus
 Standardization
 Adaptation
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1-11 Single-Country Marketing Strategy & Global Marketing Strategy
1-12 Examples of Effective Global Marketing: McDonald’s
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“The international marketer’s task is more complicated than

that of the domestic marketer”. Do you agree with this
statement? Why or why not? Discuss.
1-14 Stages of Global Marketing Involvement
Once a company has decided to go international, it has to decide the degree of

marketing involvement and commitment it is prepared to make.
These decisions should reflect considerable study and analysis of market potential
and company capabilities—a process not always followed. Research has revealed a
number of factors favoring faster internationalization:
1. Companies with either high-technology and/or marketing-based resources
appear to be better equipped to internationalize than more traditional
manufacturing kinds of companies;
2. smaller home markets and larger production capacities appear to favor
internationalization; and
3. firms with key managers well networked internationally are able to accelerate
the internationalization process.
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1-15 Stages of Global Marketing Involvement (Cont’d)
Many companies begin tentatively in international marketing, growing as they gain

experience and gradually changing strategy and tactics as they become more
committed. Depending on their objectives, resources base and planning,
companies can internalization in different ways as:
1. No Direct Foreign Marketing
2. Infrequent Foreign Marketing
3. Regular Foreign Marketing
4. International Marketing
5. Global Marketing
1-16 Forces Affecting Global Integration & Global Marketing
Driving Forces
 Regional economic agreements
 Market needs and wants
 Technology
 Transportation and communication improvements
 Product development costs
 Quality
 World economic trends
 Leverage
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1-17 Forces Affecting Global Integration & Global Marketing
Restraining Forces
 Management myopia
 Organizational culture
 National controls
 Economic growth and environmental stress
 Off shoring – the transferring of production abroad – is controversial in
terms of who benefits when costs are reduced and whether the
process exchanges good jobs for bad ones.
Identify and briefly describe some of the forces that have resulted in
increased global integration and the growing importance of global
marketing in Bangladesh perspective.
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1-19 Fundamental Concepts in Global Marketing
A Multinational Corporation (MNC) is a company that operates in its home country, as well
as in other countries around the world. It maintains a central office located in one country,
which coordinates the management of all its other offices, such as administrative branches
or factories.
Global Brand is “a brand that is marketed under the same name in multiple countries with
similar and centrally coordinated marketing strategies.
An International Company is involved in exporting and selling its goods and/or services to
other nations, but other than exporting (and/or importing, such as purchasing raw
materials), has no other investment in these other nations.
1-20 Bangladesh - Market Challenges Globally
What are the advantages and disadvantages of global

marketing in the Perspective of Bangladesh?
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1-21 CASE 1
McDonald’s Expands Globally While Adjusting Its Local Recipe
1-22
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1-23
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Md Rakibul Hassan
2-2
The Dynamic Environment of

International Trade
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 The basis for the reestablishment of world trade following World War.
 The importance of balance-of-payment figures to a country’s economy
 The effects of protectionism on world trade
 The several types of trade barriers
 The provisions of the Omnibus Trade and Competitiveness Act
 The importance of GATT and the World Trade Organization
 The emergence of the International Monetary Fund and the World
Bank Group
2-4 Global Perspective Trade Barriers

– An International Marketer’s Minefield
 Every country seems to take advantage of the open U.S. market while
putting barriers in the way of U.S. exports.
 Barriers to trade, both tariff and nontariff, are one of the major issues
confronting international marketers.
 If the benefits of the social, political, and economic changes now taking
place are to be fully realized, free trade must prevail throughout the global
marketplace.
 WTO (World Trade Organization)- deals with the global rules of trade
between nations. Its main function is to ensure that trade flows as smoothly,
predictably and freely as possible
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2-5 The Twentieth to the Twenty-First Century
 First Half of the Twentieth Century

• Depression plus two World Wars
 Last Half of the Twentieth Century
• Marred by struggles between countries espousing the socialist Marxist
approach and those following a democratic capitalist approach
 Marshall Plan
• (officially the European Recovery Program, ERP) was an American
initiative passed in 1948 for foreign aid to Western Europe.
 Move toward international cooperation among trading nations was
manifest in the negotiation of the General Agreement on Tariffs an
Trade, (GATT).
1-6 World Trade and U.S. Multinational

 1950s, many U.S. companies that had never before marketed outside the U.S.
began to export, others invested in production facilities overseas.
 1960s, U.S. multinational corporations (MNCs) were facing major challenges on
two fronts:
• Resistance to direct investment
• Increasing competition in export markets
 American MNCs were confronted by a resurgence of competition from all over
the world.
• NIC (Newly Industrialized Countries)
 The Balance of Merchandise Trade
• U.S. Trade Deficit
• U.S. dilemma of how to encourage trading partners to reciprocate (World
Trade Organization (WTO); Asia-Pacific Economic Cooperation Conference
(APEC); North American Free Trade Agreement (NAFTA).
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2-7 Balance of Trade
 The Balance of Trade (BOT), also known as the trade balance, refers to the
difference between the monetary value of a country’s imports and exports
over a given time period. A positive trade balance indicates a trade
surplus while a negative trade balance indicates a trade deficit.
 This trade figure alone does not provide much insight into the actual health
of an economy. (The US is an example of a country with a long-standing
trade deficit but that is currently experiencing one of its longest expansions
in history).
 A positive BOT does not necessarily indicate a healthy economy, nor does
a negative one necessarily indicate a weak economy.
2-8 Balance of Payments

The Balance of Payments (BOP) is a statement of all transactions made
between entities in one country and the rest of the world over a defined period
of time, such as a quarter or a year.
A balance-of-payments statement includes three accounts:
 The current account, a record of all merchandise exports, imports, and
services plus unilateral transfers of funds
 The capital account, a record of direct investment, portfolio investment,
and short-term capital movements to and from countries
 The official reserves account, a record of exports and imports of gold,
increases or decreases in foreign exchange, and increases or decreases
in liabilities to foreign central banks.
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1-9 Balance of Payments (Fundamentals)
 The system of accounts that records a nation’s international financial
transactions is called its balance of payments (BP).
 It records all financial transactions between a country’s firms, and residents,
and the rest of the world usually over a year.
 The BP is maintained on a double-entry bookkeeping system
 The assets and liabilities or the credits and debits must offset each other
 When they balance, it does not mean a nation is in particularly good or poor
financial condition
 A balance of payments is a record of condition, not a determinant of
condition
 Each of the nation’s financial transactions with other countries is reflected in its
balance of payments
1-10 Balance of Payments (Receipts & Payments)
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2-11 What is Balance of Payment Deficit & Surplus?
2-12 Balance of Payments (Mechanism)

 When countries trade there are financial
transactions among businesses or consumers of
different nations. Money constantly flows into
and out of a country which is recorded in the
BOP. These account is classified into three
account.
 When the wealth of a country whose
expenditures exceed its income has been
exhausted, that country, like an individual,
must reduce its standard of living. Table: U.S. Current Account by Major Components, 2014 ($ billions)
 If its residents do not do so voluntarily, the rates

of exchange of its money for foreign monies
decline, and through the medium of the
foreign exchange market, the purchasing
power of foreign goods is transferred from that
country to another.
Table: Balance of Payments (Receipts & Payments)
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2-13 Balance of Trade VS Balance of Payment
Balance of Trade Balance of Payment
 It records only merchandise (i.e.,  It records transactions relating to both
goods) transactions. goods and services.
 It does not record transactions of  It records transactions of capital nature.
capital nature.
 It includes balance of trade, balance of
 It is a part of current account of BOP. services, balance of unilateral transfers
and balance of capital transactions.
 It may be favorable, unfavorable or in
equilibrium.  It always remains in balance in the sense
that receipt side is always made to be
 Defect in BOT cannot be met by BOP
equal to payment side.
 It is not true indicator of economic
 Defect in BOP can be met through BOT
relations or economic prosperity of a
country.  It is true indicator of economic
performance of an economy
Why Balance of Trade and Balance of Payment is important in

global business/ marketing? Discuss.
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2-15 Protection Logic and Illogic
Protectionism, policy of protecting domestic industries against foreign competition by
means of tariffs, subsidies, import quotas, or other restrictions or handicaps placed on the
imports of foreign competitors.
Consider the following example, which analyzes the UK market for US-made shoes. Due to
the imposition of tariffs, the price for the product increases from GBP100 (P1) to GBP120
(P2). The demand for US-made shoes in the UK market decreases (from Q2 to Q4).
Logic/Advantages:
 Protection of infant industry
 Protection of the home market
 Need to keep money at home
 Retaliation and bargaining
 National defense
 Increase of business size
2-16 Protection Logic and Illogic (Cont’d)

Logic/ Advantages:
 Encouragement of capital accumulation
 Maintenance of the standard of living and real wages
 Conservation of natural resources
 Industrialization of a low-wage nation
 Maintenance of employment and reduction of unemployment
Illogic/ disadvantages:
 Stagnation of technological advancements
 Limited choices for consumers
 Increase in prices (due to lack of competition)
 Economic isolation
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2-17 Trade Barriers Tariffs Quotas Voluntary Export Restraints
Trade barriers are government policies which place restrictions on international trade.
Trade barriers can either make trade more difficult and expensive (tariff barriers) or
prevent trade completely (e.g. trade embargo)
Monetary Barriers
 Blocked currency
 Differential exchange
 Government approval
 Tariffs
Non-monetary Trade Barriers
 Boycotts and Embargoes
 Standards
 Antidumping Penalties
 Quotas
 Voluntary Export Restraints
2-18 The Impact of Tariff (Tax) Barriers

Tariff barriers tend to increase:
 Inflationary pressures
 Special interests’ privileges
 Government control and political considerations in economic matters
 The number of tariffs they beget via reciprocity
Tariff barriers tend to weaken:
 Balance-of-payments positions
 Supply-and-demand patterns
 International relations (they can start trade wars)
Tariff barriers tend to restrict:
 Manufacturers’ supply sources
 Choices available to consumers
 Competition
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2-19 The Omnibus Trade and Competitiveness Act
Designed to deal with trade deficits, protectionism, and the overall fairness of trading
partners.
The bill covers three areas considered critical in improving trade:
 Market access
 Export expansion
 Import relief
Four ongoing activities to support the growth of international trade:
 GATT
 The associated World Trade Organization (WTO)
 International Monetary Fund (IMF)
 The World Bank Group
2-20 General Agreement on Tariffs and Trade

Paved the way for the first effective worldwide tariff agreement.
Basic Elements of the GATT:
 Trade shall be conducted on a nondiscriminatory basis
 Protection shall be afforded domestic industries through customs tariffs, not
through such commercial measures as import quotas
 Consultation shall be the primary method used to solve global trade problems.
Eliminating barriers to international trade (Uruguay Round):

 The General Agreement on Trade in Services (GATS)
 Trade-Related Investment Measures (TRIMs)
 Trade-Related Aspects of Intellectual Property Rights (TRIPs)
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2-21 World Trade Organization (WTO)
 An institution, not an agreement as was GATT
 Sets many rules governing trade between its 156 members
 Provides a panel exports to hear and rule on trade disputes between members.
 Issues binding decisions
 All member countries will have equal representation
 For the first time, member countries, will undertake obligations to open their
markets and to be bound by the rules of the multilateral trading system.
 Trouble with U.S. ratification:
• Concern for the possible loss of sovereignty over its trade laws to WTO
• The lack of veto power
• The role the U.S. would assume when a conflict arises over an individual state’s
laws that might be challenged by a WTO member.
 Skirting the Spirit of GATT and WTO
2-22 The World Bank Group

Institution that has as its goal the reduction of poverty and the improvement of living
standards by promoting sustainable growth and investment in people.
The World Bank has five institutions each of which performs the following services:
 Lending money to the government of developing countries
 Providing assistance to governments for developmental projects to the poorest
developing countries.
 Lending directly to the private sector
 Providing investors with investment guarantees against “noncommercial risk.”
 Promoting increased flows of international investment
11
2-23 Protests against Global Institutions
The basic complaint against the WTO, IMF and others is the amalgam of
unintended consequences of globalizing:
 Environmental concerns
 Worker exploitation and domestic job losses
 Cultural extinction
 Higher oil prices
 Diminished sovereignty of nations
 Terrorism in London (2005) & USA (2011)
 “Anti sweat shop” campaigns
“The future of open global markets lies with the controlled and
equitable reduction of trade barriers.” Do you agree with this
statement? Why or why not? Discuss.
12
1-25
1-26
13
Md Rakibul Hassan
4-2 The Cultural Environment of Global Markets
1
 The origins, definitions and elements of culture
 Influences on Cultural Formation and Change
 Compare and contrast the key aspects of high- and low-context
cultures.
 The Self-Reference Criterion and Perception
 Major Behavioral Practices Affecting Business
 Guidelines for Cultural Adjustment
 Marketing implications of social and cultural environments.
 Understand the importance of diffusion theory and its applicability to
global marketing.
4-4 Culture, and Global Consumer Culture

Culture: can be understood as “ways of living, built up by a group of human beings,
that are transmitted from one generation to another.” A culture acts out its ways of
living in the context of social institutions, including family, educational, religious,
governmental, and business institutions.
As cultural information and imagery flow freely across borders via satellite TV, the
Internet, and similar communication channels, new global consumer cultures are
emerging. Persons who identify with these cultures share meaningful sets of
consumption-related symbols. Some of these cultures are associated with specific
product categories; marketers speak of “coffee culture,” “credit-card culture,”
“fast-food culture,” “pub culture,” “soccer culture,” and so on.
2
4-5 Origins, Elements, and Consequences of Culture
4-6 Elements of Culture
Culture consists of five elements: values, rituals, symbols, beliefs, and thought
processes. International marketers must design products, distribution systems,
and promotional programs with due consideration of each of the five.
 Cultural Values
 Rituals
 Symbols
 Beliefs
 Thought Processes
3
4-7 Cultural Change
Culture is dynamic in nature; it is a living process. But the fact that cultural
change is constant seems paradoxical, because another important
attribute of culture is that it is conservative and resists change.
Important factors of cultural change:

 Cultural Borrowing
 Similarities: An Illusion
 Resistance to Change
 Planned and Unplanned Cultural Change
4-8 High- and Low-Context Cultures
4
4-9 The Self-Reference Criterion and Perception
Self reference criterion (the unconscious reference to one’s own cultural values)
is the influence of one's culture on the behavior in a given situation. When put in
a situation people tend to respond in a way that is closely associated with their
culture.
To address this problem and eliminate or reduce cultural myopia, a systematic,
four-step framework:
1. Define the business problem or goal in home country cultural trait, habit or
norms.
2. Define the business problem or goal in foreign country cultural traits, habits
or norms through consultation with the natives of target country. Make no
judgment
3. Isolate the SRC influence in the problem and examine it carefully to see
how it complicates the problem.
4. Redefine the problem without the SRC influence and solve for the optimum
business goal situation.
4-10 Behavioral Practices Affecting Business

Social Stratification Systems: Social distinctions dictate a person’s class or
status within a culture is social stratification.
It is determined by the factors pertaining to you as an individual and your
affiliation with certain groups.
 performance orientation
 Open and closed societies
 Gender based group
 Age based group
 Family based group
 Occupation
5
4-11 Behavioral Practices Affecting Business (Cont’d)
Work Motivation: motivated employee are productive than those who are not.
Major motivational differences are.
 Materialism and Motivation
 Expectation of Success and Reward
 Performance and Achievement: The Masculinity-Femininity Index
 Hierarchies of Needs
Relationship Preferences: it is defined by Power Distance and Individualism

Versus Collectivism.
Risk-Taking Behavior: It includes- Uncertainty Avoidance, Trust, Future

Orientation and Fatalism
4-12 Behavioral Practices Affecting Business (Cont’d)

Information and Task Processing
 Perception of Cues
 Obtaining Information: Low Context versus High Context Cultures
 Information Processing
 Monochronic Versus Polychronic Cultures
 Idealism Versus Pragmatism
Communication
 Spoken and Written Language
 Silent Language
• Distance
• Time and Punctuality
• Body Language Body Language Is Not A Universal Language
• Prestige
6
4-13 Dealing with cultural Differences
Accommodation: the extent to which a culture is willing to accept the introduction

of anything foreign.
Cultural Distance: Usefulness and Limitations
When a company moves within a cluster of culturally similar countries, it should
expect to encounter fewer cultural differences and to face fewer cultural
adjustments.
Cultural Friction A business interaction may be viewed negatively because of
possible changes in power relationships and the sovereignty that sets countries
apart.
Culture Shock: The ability of individuals to adjust to what they find in foreign cultures
4-14 Dealing with cultural Differences (Cont’d)
Company and Management Orientations: The general management orientation

of the company doing business in a foreign culture.
 Polycentrism: belief that business units in different countries should act like
local companies
 Ethnocentrism: conviction that one’s own culture is superior to that of other
countries
 Geo-centrism: requires companies to balance knowledge of their own
organizational cultures with both home and host country needs, capabilities,
and constraints
7
4-15 Strategies for Instituting Change
Marketers can gain a lot of insight by examining the international
experiences of both for-profit and not-for-profit organizations. Moreover, a
great deal of material is available on potential methods and so-called
change agents (people or processes that intentionally cause or accelerate
social, cultural, or behavioral change).
 Value Systems
 Cost-Benefit Analysis of change
 Resistance to too much change
 Participation
 Reward Sharing
 Opinion Leadership
 Timing
 Learning Abroad
4-16 Marketing Implications of Social & Cultural Environments
Figure: Adopter Categories Figure: Environmental Sensitivity Versus Product Adaptation
Figure: Bottled water fastest growth
8
Why social and cultural environment is important in global

marketing? Discuss.
1-18
9
1-19
10
3-2
The Global Economic Environment
1
 Identify and briefly explain the major changes in the world economy that
have occurred during the past few decades.
 To understand the importance of economic analysis.
 Main types of economic systems that are found in different regions of the
world.
 Elements of economic environment and characteristics of the economic
systems.
 Explain the categories of economic development used by the World Bank
and identify the key emerging country markets at each stage of
development.
 Strategic Implications of Economic Environment in Global Marketing.
 Foreign exchange fundamentals (Parties, influencing factors and
mechanism)
3-4 The World Economy—An Overview

During the past two decades, the world economic environment has become
increasingly dynamic; change has been dramatic and far-reaching. To achieve
success, executives and marketers must take into account the following new
realities:
 Capital movements have replaced trade as the driving force of the world
economy.
 Production has become “uncoupled” from employment.
 The world economy dominates the scene; individual country economies play
a subordinate role.
 The struggle between capitalism and socialism that began in 1917 is over.
 The growth of e-commerce diminishes the importance of national barriers
and forces companies to reevaluate their business models.
2
3-5 Importance of Economic Environments
 Managers study economic environments to estimate how market trends

and government policy influence the performance of their companies.
 A country’s economic policies are a leading indicator of government’s
goals and its planned use of economic tools and market reforms.
 Economic development directly impacts citizens, managers, companies,
policymakers, and institutions.
 Economic environment determine the pricing decisions and distribution
decision.
 Value proposition largely depends on the economic situation of a country.
3-6 Definition & Types of Economic System

A mechanism that deals with the production,
distribution, and consumption of goods and Market Economy
services is called Economic System. Types:

 Market economy: is a system in which
individuals, rather than government,
make the majority of economic
decisions.
Command Economy
 Command economy: describe the

economic system whereby the
government owns and controls all
resources.
 Mixed economy: is a system in which
economic decisions are largely market
Mixed Economy
driven and ownership is largely private,

but the government intervenes in
private economic decisions.
3
3-7 Economic Transition & Its Forms
A transition economy is one that is changing from central planning to free
markets. Since the collapse of communism in the late 1980s, countries of
the former Soviet Union, and its satellite states, including Poland, Hungary,
and Bulgaria, sought to embrace market capitalism and abandon central
planning.
 Liberalizing economic activity
 Reforming business activity
 Establishing legal and institutional frameworks
 Success is linked to how well the government deals with:
• Privatization
• Regulation
• Property right protection
• Fiscal and monetary reform
• Antitrust legislation
3-8 Elements of the Economic Environment
 Gross National Income (GNI): the income generated both by total domestic
production as well as the international production activities of national
companies.
 Gross National Product (GNP): the value of all final goods and services
produced within a nation in a given year, plus the income earned by its
citizens abroad, minus the income earned by foreigners from domestic
production.
 Gross domestic product (GDP): the total value of all final goods and services
produced in a country in a given year equal to total consumer, investment,
and government spending, plus the value of exports, minus the value of
imports.
4
3-9 Features of an Economy
 Inflation
 Unemployment
 Debt
 Income distribution
 Poverty
 Labor costs
 Productivity
 Balance of payments
Contribution of different sectors in GDP of Bangladesh
3-10 Economic Growth Factors

 Political stability in policies affecting development
 Economic and legal reforms
 Poorly defined and/or weakly enforced contract and property rights are
features the poorest countries have in common.
 Entrepreneurship
 In these nations, free enterprise in the hands of the self-employed was the
seed of the new economic growth.
 Planning
 A central plan with observable and measurable development goals
linked to specific policies was in place.
 Outward orientation
 Production for the domestic market and export markets with increases in
efficiencies and continual differentiation of exports from competition was
the focus.
5
3-11 Economic Growth Factors (Cont’d)
 Factors of production.
 In an environment with deficient land (raw materials), labor, capital,
management, and technology, these factors could come from outside the
country and be directed to development objectives.
 Industries targeted for growth.
 Strategically directed industrial and international trade policies Incentives
to force a high domestic rate of savings and direct capital to update the
infrastructure, transportation, housing, education, and training
 Privatization of state-owned enterprises (SOEs) that had placed a drain on
national budgets.
 Released immediate capital to invest in strategic areas
 Provided relief from a continuing drain on future national resources
 The new investors modernize and create new economic growth
3-12 Stages of Market Development

1. Low-Income Countries
Low-income countries have a GNI per capita of $1,025 or less. The general
characteristics shared by countries at this income level are:
 Limited industrialization and a high percentage of the population
engaged in agriculture and subsistence farming
 High birth rates, short life expectancy
 Low literacy rates
 Heavy reliance on foreign aid
 Political instability and unrest
 Concentration in Africa south of the Sahara
6
3-13 Stages of Market Development (Cont’d)
2. Lower-Middle-Income Countries
Lower-middle-income countries are those with a GNI per capita between $1,026 and
$4,035. The general characteristics shared by countries at this income level are:
 Consumer markets in these countries are expanding
 Have a major competitive advantage in mature, standardized, labor-intensive
light industry sectors such as footwear, textiles, toys.
3. Upper-Middle-Income Countries
Upper-middle-income countries, also known as industrializing or developing countries,
are those with GNI per capita ranging from $4,036 to $12,475. The general
characteristics shared by countries at this income level are:
 People move to the industrial sector and the degree of urbanization increases.
 Have high literacy rates and strong education systems; wages are rising
 Innovative local companies can become formidable competitors and help
contribute to their nations’ rapid, export-driven economic growth.
3-14 Stages of Market Development (Cont’d)

4. High-Income Countries
High-income countries, also known as advanced, developed, industrialized, or
postindustrial countries, are those with a GNI per capita of $12,476 or higher.. The
general characteristics shared by countries at this income level are:
The service sector accounts for more than half of national output,
The processing and exchange of information become increasingly important,
Knowledge trumps capital as the key strategic resource.
Intellectual technology is more important than machine technology,
Scientists and professionals play a more dominant role than engineers and
semiskilled workers.
Product and market opportunities in a postindustrial society are heavily
dependent upon new products and innovations.
Attempt to expand their share of existing markets, to create new markets, to
create new e-commerce markets for interactive forms of electronic
communication.
7
Discuss the significance of economic development to international

marketing. Why is the knowledge of economic development
important in assessing the world marketing environment? Discuss.
3-16 Demand in Developing Countries

 Estimating market potential and devising useful segmentation strategies in less-
developed countries involve challenges.
 Most of the difficulty is from the coexistence of three distinct kinds of markets in
each country:
 the traditional rural/agricultural sector
 the modern urban/high-income sector
 the often very large transitional sector usually represented by low income
urban slums
 The traditional rural sector tends to work in the countryside.
 The modern sector is centered in the capital city with expanding Westernized
middle class.
 The transitional sector has those moving from the country to the large cities.
8
3-17 Demand in Developing Countries (Cont’d)
 One of the greatest challenges of the 21st century is to manage and
market to the transitional sector in developing countries.
 Increasingly marketing research efforts are being focused on the lowest
income segments in Latin America.
 The companies that invest when it is difficult and initially unprofitable will
benefit in the future from emerging markets in Latin America and elsewhere.
3-18 Big Emerging Global Markets

Big emerging markets share a number of important traits:
 Are all geographically large
 Have significant populations
 Represent sizable markets for a wide range of products
 Have strong rates of growth or the potential for
significant growth
 Have undertaken significant programs of economic
reform
 Are of major political importance within their regions
 Are “regional economic drivers”
 Will engender further expansion in neighboring markets
as they grow Figure: Emerging markets
9
3-19 Big Emerging Global Markets (Cont’d)
 The BEMs differ from other developing countries in that they

import more than smaller markets and more than economies of
similar size.
 As BEMs embark on economic development, demand increases
for capital goods.
 As their economies expand, there is accelerated growth in
demand for goods and services, much of which must be
imported.
 Much of the expected growth will be in industrial sectors such as
information technology, environmental technology,
transportation, energy technology, healthcare technology, and
financial services.
What are the objectives of economically developing countries?

How do these objectives relate to marketing? Comment.
10
3-21 Strategic Implications of Economic Environment in Global Marketing
 As a country develops, incomes change, population concentrations

shift, expectations for a better life adjust to higher standards, new
infrastructures evolve, and social capital investments are made.
 When incomes rise, new demand is generated at all income levels.
 Countries with low per capita incomes are potential markets for a large
variety of goods.
 As incomes rise to middle-class range, demand for more costly goods
increases.
 Markets are changing rapidly, and identifiable market segments with
similar consumption patterns are found across many countries.
 The global marketer of today and tomorrow must be able to react to
market changes rapidly and to anticipate new trends within constantly
evolving market segments.
3-22
11
3-23 Foreign Exchange
 Foreign Exchange is money denominated in the currency of another nation or
group of nations.
 Foreign Exchange can be in the form of cash, funds available on credit and debit
cards, traveler’s checks, bank deposits, or other short-term claims.
 An exchange rate is the price of a currency. It is the number of units of one
currency that buys one unit of another currency, and this number can change
daily. Exchange rates make international price and cost comparison possible.
3-24 Traditional Foreign Exchange Instruments

 Spot Transactions: involve the immediate exchange of currency, which is generally
made on the second business day after the date on which the two foreign-exchange
dealers agree to the transaction.
 Outright Forward Transactions: involve the exchange of currency on a future date. It is
the single purchase or sale of a currency for future delivery. The rate is forward rate
and transaction is settled at forward rate no matter what the actual sport rate is at the
time of settlement.
 FX Swap: one currency is swapped for another on one date and then swapped back
on a future date. So it is a simultaneous spot and forward transactions.
 Currency Swaps: deal more with interest-bearing financial instruments (such as a
bond), and they involve the exchange of principal and interest payments.
 Options: are the right but not the obligation to trade foreign currency in the future.
 Futures Contract: is an agreement between two parties to buy or sell a particular
currency at a particular price on a particular future date, as specified in a
standardized contract to all participants in that currency futures exchange.
12
3-25 Players on the Foreign Exchange Market
The Bank for International Settlements divides the foreign-exchange market
into three major categories:
 Reporting dealers (also known as dealer banks or money center banks),
Dealers can trade foreign exchange…
• Directly with other dealers
• Through voice brokers
• through electronic brokerage systems
 Financial institutions i.e. bank, insurance company,
 Non-financial institutions i.e. government, companies.
3-26 How Factors Can Affect Exchange Rates
Exchange rates between US. & UK
13
3-27 The Foreign Exchange Trading Process
3-28 Case Study
India’s Economy at the Crossroads: Can Prime Minister Narendra Modi Deliver
Acche Din?
14
1-29
1-30
15
Md Rakibul Hassan
5-2
The Political, Legal, and
Regulatory Environments
1
 The Political Environment
 Stability of Government Policies
 The Political Spectrum
 Political Risks of Global Business
 Lessening Political Vulnerability
 The Regulatory Environment
 The Legal Environment & Types of Legal Systems
 Conflict Resolution, Dispute Settlement,& Litigation
 Marketers Face Strategic Concerns Worldwide.
5-4 The Political Environment

The role of political system is to integrate society and the functions of political system
includes…
 Interest articulation
 Interest aggregation
 Policy making
 Policy implementation and adjudication
2
5-5 Stability of Government Policies
The ideal political climate for a multinational firm is a stable, friendly
government. Unfortunately, governments are not always stable and friendly,
nor do stable, friendly governments always remain so.
Radical shifts in government philosophy when an opposing political party
ascends to power, pressure from nationalist and self-interest groups,
weakened economic conditions, bias against foreign investment, or conflicts
among governments are all issues that can affect the stability of a
government.
 Forms of Government
 Political Parties
 Nationalism
 Targeted Fear and/or Animosity
 Trade Disputes
5-6
The Political Spectrum
A nation’s orientation toward individualism or collectivism anchors its political system
and, hence, its predominant political ideology. In theory, an ideology is an
integrated vision that defines a holistic conception of an abstract ideal and its
normative thought processes.
3
5-7 The Political Spectrum (Cont’d)
Democracy: Wide participation by citizens in the decision-making process, Five
types:
 Parliamentary: citizens exercise political power by electing representative to
a legislative branch of government called a parliament. i.e. India,
Bangladesh
 Liberal: originates in a constitution that specifically protects certain
individual freedoms, such as freedom of speech, assembly, religion and
certain liberties. i.e. Japan, New Zealand
 Multiparty: when three or more political parties have the capacity to gain
control of government, whether separately or as part of a coalition. i.e.
Canada, Germany, Italy.
 Representative: in which the people’s elected representatives hold ultimate
sovereignty. i.e. USA
 Social: advocates the use of democratic means to achieve a gradual
transition from capitalism to socialism. i.e. Norway, Sweden.
5-8 The Political Spectrum (Cont’d)
Totalitarianism: Restricts decision making to a few individuals. Types:

 Authoritarianism: Citizens are subject, at the expense of political and civil
liberties, to state authority in many aspects of their lives. i.e. North Korea.
 Fascism: It is a synthesis and a unit which includes all values, interprets,
develops and lends additional power to the whole life of people.
 Secular totalitarianism: leader maintain the power by wielding the
authority of the state. i.e. China.
 Theocratic totalitarianism: government is an expression of the preferred
deity, with leaders often claiming to represent the deity’s interest on
earth. Religious leadership i.e. Taliban in Afghanistan.
4
5-9 Political Risks of Global Business
5-10 Lessening Political Vulnerability

Although a company cannot directly control or alter the political
environment of the country within which it operates, a specific business
venture can take measures to lessen its degree of susceptibility to politically
induced risks.
 Joint Ventures
 Expanding the Investment Base
 Licensing/Franchising
 Planned Domestication
 Political Bargaining
 Political Payoffs
5
5-11 The Regulatory Environment
The regulatory environment of global marketing consists of a variety of
governmental and nongovernmental agencies that enforce laws or set guidelines
for conducting business. These regulatory agencies address a wide range of
marketing issues, including______
 Price control,
 Valuation of imports and exports,
 Trade practices,
The European Court of
 Labeling, Justice (ECJ) is one of three
courts that make up the
 Food and drug regulations, Court of Justice of the
European Union (CJEU).
 Employment conditions, Source: EQRoy/Shutterstock.
 Collective bargaining,
 Advertising content, and
 Competitive practices.
5-12 The Legal Environment
The legal system specifies the rules that regulate behavior, the processes that
enforce laws, and the procedures that resolve grievances. Legal systems differ
across countries due to variations in tradition, precedent, usage, custom, or
religious precepts.
Modern legal systems evidence has three components:
 Constitutional Law- translates the country’s constitution into an open and
just legal system, setting the framework for government and defining the
authority and procedure of political bodies to establish laws;
 Criminal Law- safeguards society by specifying what conduct is criminal,
and prescribing punishment to those who breach those standards; and
 Civil and Commercial Law- ensure fairness and efficiency in business
transactions by stipulating private rights and specific remedies in order to
regulate conduct between individuals and/or organizations.
6
5-13 Types of Legal Systems
A country’s legal system officially regulates the conduct of business
transactions, the rights and obligations of those doing business, and the legal
redress open to those who believe they have been wronged.
 Common law: is based on tradition, judge-made precedent, and usage,
and it assigns a preeminent position to existing case law as a guide to
dispute resolution.
 Civil law: is based on a systematic and extensive codification of laws.
 Theocratic law: relies on religious and spiritual principles to define the legal
environment.
 Customary law: is anchored in the wisdom of daily experience or for those
who are more intellectually inclined.
 Mixed systems
5-14 Conflict Resolution, Dispute Settlement,& Litigation

International commercial disputes can escalate into major trade conflicts
with serious political and economic repercussions.
 Arbitration- a neutral third party known as an arbitrator works toward a
resolution of the dispute. The benefit of arbitration is that it can be faster and
cheaper than litigation. It is also likely to be more participatory and easily
understood than a court hearing.
 Conciliation- A conciliator helps conflicting parties avoid litigation by
meeting with the parties separately to determine each party’s dispute and
needs.
 Mediation- A mediator, with no vested interest in the outcome of the
mediation, facilitates discussions and settlement between the parties. Unlike
conciliation, in which the conciliator offers solutions, a mediator is more of a
facilitator. The mediator avoids offering proactive decisions, choosing
instead to help disputing parties come to a realistically acceptable
agreement.
7
5-15 Marketer Faces Operational Concerns Worldwide
A fundamental thesis holds that productive business activity requires fair, just, and
transparent rules that (1) set and sustain property rights, (2) minimize the costs and
complications of resolving disputes, (3) specify rules that reduce the riskiness of
business transactions, and (4) organize rules to protect contractual partners against
abuse. Marketers face few operational issues in global marketing as:
 Starting a business
 Entering and enforcing contracts
 Hiring and firing local workers
 Closing down the business
5-16 Marketers Face Strategic Concerns Worldwide

Strategic concerns direct their attention to long-term issues that shape the
competitiveness, profitability, and sustainability of the firm. Let’s see how it shapes
an MNE’s strategic decisions on making a product, marketing it, and safeguarding
its proprietary features.
 Product safety and liability

 Marketplace behavior
 Product origin and local content
 Legal jurisdiction
 Arbitration
8
1-17
1-18

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MKT4703 | Global Marketing

Brand and Product Decisions in Global

7-4 Basic Product Concepts

7-6 Approaches to Global Brand Development

7-8 Needs-Based Approach to Product Planning Cont’d

In lower-income countries, by contrast, frozen foods are not widely available.

In some developing countries, refrigerators have an important secondary

Perceptions and attitudes about a product’s origins can be positive or

7-10 Global Product Planning: Strategic Alternatives

7-12 New Products in Global Marketing

Identifying New-Product Ideas

7-14 New Products in Global Marketing (Cont’d)

How can buyer attitudes about a product’s country of origin

6-2 Segmentation, Targeting, and Positioning

6-4 What is Global Market Segmentation?

Global market segmentation is based on the premise that companies should

6-6 Variables of global markets Segmentation (Cont’d)

6-8 Variables of global markets Segmentation (Cont’d)

Image: Alipay and WeChat

6-10 Market Potential and Choosing Target Markets (Cont’d)

6-12 Screening Criteria for Market Segments

6-14 Various positioning options available to global marketers.

Describe how the automobile, telecommunications, and real

Introduction to Global Marketing

1-4 Definition of Global Marketing

Global marketing is basically the

 Limited Home Market

1-6 Why Company Engage in Global Marketing?

1-8 The International Marketing Task

1-10 How Companies Pursue Competitive Advantage?

A competitive advantage is an advantage over competitors gained by

1-12 Examples of Effective Global Marketing: McDonald’s

“The international marketer’s task is more complicated than

1-14 Stages of Global Marketing Involvement

Once a company has decided to go international, it has to decide the degree of

Many companies begin tentatively in international marketing, growing as they gain

1-16 Forces Affecting Global Integration & Global Marketing

1-18 Discussion and It is time for you…………..

1-20 Bangladesh - Market Challenges Globally

What are the advantages and disadvantages of global

McDonald’s Expands Globally While Adjusting Its Local Recipe

The Dynamic Environment of

2-4 Global Perspective Trade Barriers

 First Half of the Twentieth Century

1-6 World Trade and U.S. Multinational

2-8 Balance of Payments

1-10 Balance of Payments (Receipts & Payments)

2-12 Balance of Payments (Mechanism)

 If its residents do not do so voluntarily, the rates

Table: Balance of Payments (Receipts & Payments)

2-14 Discussion and It is time for you…………..

Why Balance of Trade and Balance of Payment is important in

2-16 Protection Logic and Illogic (Cont’d)

2-18 The Impact of Tariff (Tax) Barriers

2-20 General Agreement on Tariffs and Trade

Eliminating barriers to international trade (Uruguay Round):

2-22 The World Bank Group

2-24 Discussion and It is time for you…………..

4-2 The Cultural Environment of Global Markets

4-4 Culture, and Global Consumer Culture

4-6 Elements of Culture

Important factors of cultural change:

4-8 High- and Low-Context Cultures