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,. | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. LEARNING OBJECTIVES (LO) 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. LO1 Identify the environmental forces that shape global marketing efforts. LO2 LO3 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 7, YOU SHOULD BE ABLE TO: 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. LO4 HOW DELL, INC., BUILT A BILLION DOLLAR BUSINESS IN INDIA Global Perspective DYNAMICS OF WORLD TRADE WORLD TRADE FLOWS LO1 United States Perspective Countertrade Trade Feedback Effect Gross Domestic Product (GDP) Balance of Trade FIGURE 7-1 Leading countries in global merchandise trade in terms . | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. LEARNING OBJECTIVES (LO) 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. LO1 Identify the environmental forces that shape global marketing efforts. LO2 LO3 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 7, YOU SHOULD BE ABLE TO: 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. LO4 HOW DELL, INC., BUILT A BILLION DOLLAR BUSINESS IN INDIA Global Perspective DYNAMICS OF WORLD TRADE WORLD TRADE FLOWS LO1 United States Perspective Countertrade Trade Feedback Effect Gross Domestic Product (GDP) Balance of Trade FIGURE 7-1 Leading countries in global merchandise trade in terms of imports (.) and exports (China) FIGURE 7-2 Porter’s diamond of national competitive advantage: four key elements on why some industries and firms in different countries become world leaders Porter’s “Diamond” DYNAMICS OF WORLD TRADE COMPETITIVE ADVANTAGE OF NATIONS LO1 Factor Conditions Demand Conditions Company Strategy, Structure, and Rivalry Related and Supporting Industries Economic Espionage Act (1996) Sony 3D TV and Bruno Magli Shoes What element of Porter’s Diamond of National Competitive Advantage? LO1 MARKETING IN A BORDERLESS ECONOMIC WORLD TREND 1—DECLINE OF ECONOMIC PROTECTIONISM LO1 Protectionism Tariffs Quota World Trade Organization (WTO) General Agreement on Tariffs and Trade (GATT) MAKING RESPONSIBLE DECISIONS Global Ethics and Global Economics— The Case of Protectionism LO1 FIGURE 7-3 Protectionism hinders world trade when countries raise prices and limit supply through tariff and quota policies European Union Euro North American Free
