Global marketing allows companies to expand profits and growth by accessing international markets for raw materials and customers. It reduces dependence on a single domestic economy. The US exports major agricultural products, machinery, computers and manufactured goods. Leading exporters include Boeing, Intel and Caterpillar. Services and retailing are also important exports, such as from American Express, Disney and Walmart. Benefits of going global include additional revenue, new consumer insights, and learning new techniques. Companies must consider international factors like culture, laws, economics and technology when developing global marketing strategies.
2. Importance of Global Marketing It expands the company’s profits, allows growth and makes them less dependent on their own country’s economy. It provides a source of raw materials internationally to use in manufacturing in US These raw materials may not be available domestically. Several firms buy the product overseas and put their brand on it
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4. What does the US export? Agricultural products, electrical machinery, computers & office equipment, industrial machinery, motor vehicle parts, manufactured goods, services, retailing Who are the leading US exporters? Boeing, Intel, Motorola, Caterpillar and Sun Microsystems.
5. Services & Retailing Becoming increasingly more important US export. Services like banking, entertainment, business/technical services, retailing, & communications. American Express, AT & T, Disney Retailing Wal-Mart, McDonalds, Arby’s, Dunkin Donuts, Dominos, Gap, Foot Locker
6. Benefits of Going Global Additional revenue Gaining new insights into consumer behavior Alternative distribution strategies Advance notice of new products Learn new marketing techniques
7. International Economic Environment Economic factors Size of Nation, income, economic development Infrastructure Communications, transportation, energy Exchange Rate
10. International Political Legal Environment US and International laws. Trade Barriers Tariffs Taxes on imported products Import Quotas Embargos Subsidies International Organization for Standardization (ISO) Internationally recognized standards that ensure quality
14. Strategies for Entering International Markets Importing & Exporting Contractual Agreements Franchising Licensing Subcontracting Direct Investment Acquisitions Joint Ventures Overseas Divisions
15. Global Marketing Strategy A standard marketing mix with few modifications in all foreign Works well for products with strong, universal appeal such as McDonald’s, luxury items such as Rolex watchers, and high-tech brands such as Microsoft.
One half of the top ten largest marketers are headquartered in the US
Political/legalPolitical unrest in middle east, Africa, eastern Europe, Spain & South America.Tariffs - taxes levied against imported products to raise the retail price to match or exceed the domestic price.Import quotas limit the number of units of products in certain categories that can be imported.Embargo is a complete ban on the import of certain products.Subsidies The US subsidizes Airbus whish is an aircraft company that is French German British and Spanish
