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Lecture Marketing (12/e): Chapter 7 – Kerin, Hartley, Rudelius

Chapter 7 – Understanding and reaching global consumers and markets. After reading chapter 7, you should be able to: Describe the nature and scope of world trade from a global perspective and identify the major trends that have influenced world trade and global marketing, identify the environmental forces that shape global marketing efforts, name and describe the alternative approaches companies use to enter global markets, explain the distinction between standardization and customization when companies craft worldwide marketing programs. | Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO 7-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 7, YOU SHOULD BE ABLE TO: LO 7-1 Describe the nature and scope of world trade from a global perspective and identify the major trends that have influenced world trade and global marketing. Identify the environmental forces that shape global marketing efforts. 7- LO 7-4 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 7, YOU SHOULD BE ABLE TO: LO 7-3 Name and describe the alternative approaches companies use to enter global markets. Explain the distinction between standardization and customization when companies craft worldwide marketing programs. 7- BUILDING A BILLION DOLLAR BUSINESS IN INDIA THE DELL INC. WAY 7- DYNAMICS OF WORLD TRADE WORLD TRADE FLOWS LO 7-1 Global Perspective United States Perspective Countertrade Trade Feedback Effect Gross Domestic Product (GDP) . | Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO 7-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 7, YOU SHOULD BE ABLE TO: LO 7-1 Describe the nature and scope of world trade from a global perspective and identify the major trends that have influenced world trade and global marketing. Identify the environmental forces that shape global marketing efforts. 7- LO 7-4 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 7, YOU SHOULD BE ABLE TO: LO 7-3 Name and describe the alternative approaches companies use to enter global markets. Explain the distinction between standardization and customization when companies craft worldwide marketing programs. 7- BUILDING A BILLION DOLLAR BUSINESS IN INDIA THE DELL INC. WAY 7- DYNAMICS OF WORLD TRADE WORLD TRADE FLOWS LO 7-1 Global Perspective United States Perspective Countertrade Trade Feedback Effect Gross Domestic Product (GDP) Balance of Trade 7- FIGURE 7-1 Leading countries in global merchandise trade in terms of imports (U.S.) and exports (China) 7- DYNAMICS OF WORLD TRADE COMPETITIVE ADVANTAGE OF NATIONS LO 7-1 Porter’s “Diamond” Factor Conditions Demand Conditions Company Strategy, Structure, and Rivalry Related and Supporting Industries Economic Espionage Act (1996) 7- FIGURE 7-2 Porter’s diamond of national competitive advantage has four key elements on why some industries and firms in different countries become world leaders 7- Sony Bravia 3D HDTV and Bruno Magli Shoes What element of Porter’s Diamond of National Competitive Strategy? LO 7-1 7- MARKETING IN A BORDERLESS ECONOMIC WORLD TREND 1—DECLINE OF ECONOMIC PROTECTIONISM LO 7-1 Protectionism Tariffs Quota World Trade Organization (WTO) General Agreement on Tariffs and Trade (GATT) 7- MAKING RESPONSIBLE DECISIONS GLOBAL ETHICS AND GLOBAL ECONOMICS— THE CASE OF PROTECTIONISM LO 7-1 7- FIGURE 7-3 Protectionism hinders .