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International Marketing A series of activities that creates an exchange that satisfies the individual customer across national borders. The whole process begins with customer's needs and meeting those needs. International marketing can be difficult. The desire may be across cultures Marketing activities may need to be adjusted - geographic, competitive, cultural, and legal differences.

Walmart Walmart is the world's largest retailer. It started in the US and has expanded into other markets Mexico Germany Japan Now in eleven countries around the world. Walmart has attempted to use the same retail strategies in each country.

Growth of International Marketing The world is getting smaller - advances in technology The Internet - connects everyone around the world. Transportation systems make shipping EASY!

Communication Technology "Shrunk" the world the most. Peopel around the world are seeing the same movies, tv shows, and Internet content. Companies now market the same message to all peopel around the world.

Transportation Systems Delivering products much faster and cheaper now. Containerized shipping - packaging your product to be shipped by ocean. Ships use satellite to avoid bad weather Can cross Pacific Ocean from Asia to the US in 10 days. UPS, FedEx, and DHL are other companies that ship smaller quantities.

New Markets Trade barriers have dropped and personal income is increasing worldwide. According to the World Bank data, the US ranks 18th in personal income. Companies want to look for new markets for growth opportunities. If US companies do not enter the new markets early, may not be an opportunity later.

Ethics Around the World Pg. 5

Planning for International Marketing Pursuing global markets can be very risky. Develop an international marketing plan. To engage in marketing, all businesses need to create, communicate, and deliver value to customers and manage customer relationships in ways that benefit the organization and its stakeholders. Profit-oriented businesses MUST be able to make a PROFIT!

By engaging in int'l marketing, businesses must understand how the markets differ! Are the customers needs different? Are you going to offend anyone with that advertising? Legal and political environments change too. Companies must be sure that they will get paid for the products they sell. Int'l marketing can increase risk, but global markets are too large and too important to ignore.

International Professional Development To have a career in int'l marketing, you could have a high school diploma or a college degree. The ability to communicate in a foreign language is often required, as well as being competent in the English language. Study the culture of the country you will be working with. Learn what nonverbal gestures NOT to do. Proficient in technology! International experience - living abroad, traveling...

Marketing Core Standards Distribution Marketing- information Management Pricing Product/service management Promotion Selling Financing

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The Role... The US has the largest economy in the world, GDP is more than $10 trillion. Western Europe is second. Japan is third.

History International trade is not new. Archeologist found Stone Age trading objects that were carried over long distances. Silk Road is one of the oldest and most important trading routes. This is a series of trails and sea routes from China to the Middle East. Romans developed forts along part of the path because it was so important. Major cities acted as international trading centers or markets.

Free Trade Totally free trade between countries is not the norm! Products are sold at whatever price the seller is willing to accept. Provides an incentive for a low cost producer to sell products in new markets - this puts the local producer at a disadvantage. Today, most believe that free trade is good for all economies. May create problems in the short term, but should lead to economic development over the long term.

Read pg. 11 & 12 Do you support free trade?

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Read Going Global, pg. 14

Levels of Commitment No Active International Marketing Strategy - not actively seeking int'l sales Surplus Driven International Marketing - excess and cannot sell in home market International Marketing Strategy - commits and plans to sell int'lly Global Marketing Strategy - treats the entire world as potential markets (even home country).

Marketing Plan Cultural Analysis Economic Analysis Competitive Analysis Implementing Core Standards of Marketing