Chapter 1 - The scope and challenge of international marketing. What you should learn from chapter 1: The benefi ts of international markets, the changing face of . business, the scope of the international marketing task, the importance of the self-reference criterion (SRC) in international marketing, the increasing importance of global awareness, the progression of becoming a global marketer. | International Marketing 15th edition Philip R. Cateora, Mary C. Gilly, and John L. Graham Events and Trends Affecting Global Business The rapid growth of the World Trade Organization (WTO) and NAFTA and EU The trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe The burgeoning impact of the Internet, mobile phones, and other global media on the dissolution of national borders The mandate to properly manage the resources and global environment for the generations to come Roy Philip Opening Side Internationalization of . Business Foreign companies are here to stay in the . and compete with U. S. companies The great worldwide acquisitions both by U. S. and foreign companies Global markets are a necessity Foreign earnings a higher percentage of profits Multinationals outperform domestic firms Global value increased through global diversification Intensifying domestic competition Roy Philip Opening Side International Marketing International marketing is defined as the performance of business activities designed to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in more than one nations for a profit. The difference is the “environment” Competition, legal restraints, government controls, weather, fickle consumers, economic conditions, technological constraints, infrastructure concerns, culture, and political situations. Roy Philip Opening Side The International Marketing Task Exhibit Roy Philip Self-Reference Criterion (SRC) Self-Reference Criterion (SRC) is an unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decision. Risk of SRC: Prevent you from becoming aware of cultural differences Influence the evaluation of the appropriateness of a domestically designed marketing mix for a foreign market Roy Philip Opening Side Cross-Cultural Analysis Define . | International Marketing 15th edition Philip R. Cateora, Mary C. Gilly, and John L. Graham Events and Trends Affecting Global Business The rapid growth of the World Trade Organization (WTO) and NAFTA and EU The trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe The burgeoning impact of the Internet, mobile phones, and other global media on the dissolution of national borders The mandate to properly manage the resources and global environment for the generations to come Roy Philip Opening Side Internationalization of . Business Foreign companies are here to stay in the . and compete with U. S. companies The great worldwide acquisitions both by U. S. and foreign companies Global markets are a necessity Foreign earnings a higher percentage of profits Multinationals outperform domestic firms Global value increased through global diversification Intensifying domestic competition Roy Philip .
