The document discusses the increasingly globalized economic environment and factors influencing country competitiveness. It covers the rise in international trade and foreign direct investment. Major trade agreements and organizations like the WTO are examined. Emerging markets and regional economic blocs are important recent trends. Information technology is changing competition while intellectual property issues remain. Multinational corporations now hail from many countries and account for over half of global GDP.
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International Marketing 15th Edition test bank
Describe the Political and Macro environment impact on Cocacola. cover the macro factors that has direct impact on brand and describe the tools that exits to marketers to analyze and over come the same situation.
Test bank-for-international-marketing-15th-edition-by-cateora-downloaddomabermta
Product Details
Language: English
ISBN-10: 007352994X
ISBN-13: 978-0073529943
ISBN-13: 9780073529943
Relate keyword
Download International Marketing 15th Edition by Cateora
International Marketing 15th Edition free download
Ebook International Marketing 15th Edition
Instant download International Marketing 15th Edition answer
Test Bank International Marketing 15th Edition download pdf
International Marketing 15th Edition test bank
Describe the Political and Macro environment impact on Cocacola. cover the macro factors that has direct impact on brand and describe the tools that exits to marketers to analyze and over come the same situation.
Slide chapter 1 : The Scope and Challenge of
International Marketing - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham.
Slide chapter 16 : Integrated Marketing Communications
and International Advertising - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham
Global marketing - products & services for consumersRECONNECT
This is the lecture of course "Global Marketing"
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Slide chapter 1 : The Scope and Challenge of
International Marketing - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham.
Slide chapter 16 : Integrated Marketing Communications
and International Advertising - International Marketing 15th Philip R. Cateora, Mary C. Gilly, and John L. Graham
Global marketing - products & services for consumersRECONNECT
This is the lecture of course "Global Marketing"
This slideshare network of RECONNECT will provide all the presentation related to case studies, project presentations, educational, motivational slides & much more.
Follow Reconnect on slide share.
Official fb page: facebook.com/reconnectt
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Global standardization in marketing is a regularity marketing approach that can be used internationally. This type of marketing strategy conforms to work across different cultures and countries to promote a product
Liberating the API Economy with Scale-Free Networks - Mike Amundsen, Director...CA API Management
Liberating the API Economy with Scale-Free Networks
The Web exhibits a feature found in many complex systems known as "Scale-Free" or "Power-Law" networks, sometimes called the "long tail" Most people think of the "long tail" as an economic and/or social property. However, it also represents physical and informational properties fundamental to the way the Web works. But the steady increase in major service outages indicate that many current Web APIs, services, and even client applications ignore this basic "law of the Web."
This talk explores the "Scale-Free" rule of complex systems and offers clear and simple advice to those planning to build and/or consume APIs for the Web. Such as what to avoid, what to plan for, what to build, and how to identify & steer clear of clients and services that fail to abide by the rules and, in the process, are making it harder for all of us to liberate the API Economy.
Global marketing - global economic environmentRECONNECT
This is the lecture of course "Global Marketing"
This slideshare network of RECONNECT will provide all the presentation related to case studies, project presentations, educational, motivational slides & much more.
Follow Reconnect on slide share.
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Another institution in the news is the G20. Established in 1999, the.docxmelvinjrobinson2199
Another institution in the news is the G20. Established in 1999, the G20 comprises the finance ministers and central bank governors of the 19 largest economies in the world, plus representatives from the European Union and the European Central Bank. Originally established to formulate a coordinated policy response to financial crises in developing nations, in 2008 and 2009 it became the forum though which major nations attempted to launch a coordinated policy response to the global financial crisis that started in America and then rapidly spread around the world, ushering in the first serious global economic recession since 1981. G20 Established in 1999, the G20 comprises the finance ministers and central bank governors of the 19 largest economies in the world, plus representatives from the European Union and the European Central Bank. ANOTHER PERSPECTIVE G20 Relevant Statistics There have been six G20 Leaders’ Summits (Washington, London, Pittsburgh, Toronto, Seoul, and Cannes). At the Leaders’ level, this is the second time, following the Republic of Korea, that an emerging country holds the presidency of the Group. Mexico will become the first Latin American country to chair the annual presidency of the Group. According to estimates by the International Labor Organization, the G20 has created or preserved between 7 and 11 million jobs by end of 2009. G20 members represent almost 90 percent of global GDP and 80 percent of international global trade; 64 percent of the world’s population lives in G20 member countries, and 84 percent of all fossil-fuel emissions are produced by G20 countries. Source: www.g20.org/index.php/en/numeralia. QUICK STUDY 1. What is meant by the globalization of markets? Which product markets tend to be the most global? 2. What is meant by the globalization of production? Why are production systems being globalized? 3. What is the main purpose of global institutions such as the WTO, IMF, and World Bank? LEARNING OBJECTIVE 2 Recognize the main drivers of globalization. Drivers of Globalization Two macro factors underlie the trend toward greater globalization.14 The first is the decline in barriers to the free flow of goods, services, and capital that has occurred since the end of World War II. The second factor is technological change, particularly the dramatic developments in recent decades in communication, information processing, and transportation technologies. DECLINING TRADE AND INVESTMENT BARRIERS During the 1920s and 1930s, many of the world’s nation-states erected formidable barriers to international trade and foreign direct investment. International trade occurs when a firm exports goods or services to consumers in another country. Foreign direct investment (FDI) occurs when a firm invests resources in business activities outside its home country. Many of the barriers to international trade took the form of high tariffs on imports of manufactured goods. The typical aim of such tariffs was to protect domes.
The Global
Economic
Environment
1
Interesting The Guardian story about Italy that combines Culture (population) + Political (govt business subsidies) + Economic environments
https://www.theguardian.com/world/2019/sep/11/underpopulated-italian-region-molise
Global Economic Environment
1 of 2
International Trade Theory
firms expanding internationally must appreciate how their international activities match with a country’s goals for international trade
Balance of Payments
a leading indicator of the international economic health of a country and may directly influence a firm’s expansion decisions https://tradingeconomics.com/united-states/balance-of-trade
Government Policy and Trade
firms are directly impacted by government policies in areas such as tariffs and non-tariff barriers
3
Global Economic Environment
2 of 2
Institutions in the World Economy
institutions such as the World Trade Organization and the World Bank greatly influence trade policies, and ultimately can influence a firm’s global strategy
Regional Economic Integration
firms generally benefit from economic integration through lower costs of doing business. However it can also lead to stronger competitors
4
International Trade Theory
Why do nations trade?
Key international trade theories:
Absolute Advantage and Comparative Advantage
Product Life Cycle – Trade patterns and production over time
5
Comparative Advantage
“Different countries have dissimilar prices and costs on goods because different goods require a different mix of factors in their production and because countries differ in their supply of these factors.” (Ohlin)
e.g., Can you grow salmon in Texas?
6
Product Life Cycle
Four Phases of the Product Life Cycle:
Phase 1: the U.S. exports the product
Phase 2: foreign production starts
Phase 3: foreign production becomes competitive in export markets
Phase 4: import competition begins
The Product Life Cycle may not explain trade and production patterns as well anymore due to:
Short gap between phases
“Born globals” may skip some phases
7
Product Life Cycle
1 of 3
Developed Nation (strong economy)
Produces more than consumes at the beginning, then a switch
8
Product Life Cycle
2 of 3
Emerging Nation
Consumes more than produces at the beginning, then a switch
9
The Consumer PLC
Extending a Product in Other Markets
Balance of Payments 1 of 2
The Balance of Payments (BOP) is a summary of a country's economic transactions w/the world, for a specified period of time.
Current Account
Goods (Merchandise)
Services
Unilateral Transfers
http://www.bea.gov/newsreleases/glance.htm
http://tse.export.gov/TSE/
https://economictimes.indiatimes.com/markets/forex/indian-rupee-hits-an-all-time-low-of-72-69-versus-us-dollar/videoshow/65769296.cms
11
U.S. Imports
vs. Exports
https://tradingeconomics.com/united-states/balance-of-trade
Financial considerations
Reflects a country’s solvency/economic health
Steady loss of foreign exch.
"Free" Trade without "Fair" Trade? -- how should the U.S. react to address ou...Carlos F. Flores
Current economic theory assumes that nations will voluntarily adopt “fair trade” practices.
The U.S. is in a strong bargaining position to negotiate balanced trade relative to partners that drive our trade deficit – in a trade war, they have a lot more to loose.
The U.S. should proactively adopt a tit-for-tat approach to foster trade liberalization and fairness or risk losing the “international trade war”.
Above ‘fair trade” enforcing mechanism would provide crucial time for retraining displaced labor and/or protecting sectors impacted by unfair practices.
"Free" Trade without "Fair" Trade? -- how should the U.S. react to address ou...CharlesDaniels123
Current economic theory assumes that nations will voluntarily adopt “fair trade” practices.
The U.S. is in a strong bargaining position to negotiate balanced trade relative to partners that drive our trade deficit – in a trade war, they have a lot more to loose.
The U.S. should proactively adopt a tit-for-tat approach to foster trade liberalization and fairness or risk losing the “international trade war”.
Above ‘fair trade” enforcing mechanism would provide crucial time for retraining displaced labor and/or protecting sectors impacted by unfair practices.
International business management essay globalizationBobby Darmawan
It is very hard to determine whether globalization is a good or bad thing. But after reviewing some literature, I would have to say that globalization is a good thing, despite all the critics. The most important thing is the usage of globalization to promote end of poverty.
1. Global Marketing Management, 5e Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 1 Chapter 2 Economic Environment
2. Chapter Overview Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 2 1. Intertwined World Economy 2. Country Competitiveness 3. Evolution of Cooperative Global Trade Agreements 4. U.S. Position in Foreign Direct Investment and Trade 5. Information Technology and the Changing Nature of Competition 6. Regional Economic Arrangements 7. Multinational Corporations
3. Introduction Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 3 In 2008, the annual global merchandise trade amounted to $16.8 trillion. From 1997 to 2007, world GDP grew more than 30 percent. In the same period, total world exports of merchandise increased by more than 60 percent.
4. Exhibit 2-1: Growth in the Volume of World Merchandise Trade and GDP, 1997 - 2007 Chapter 2 Copyright (c) 2007 John Wiley & Sons, Inc. 4
5. According to the World Trade Organization (WTO), the top five merchandise exporting countries in 2008 were: Germany ($1,530 billion), China ($1,465 billion) United States ($1,377 billion) Japan ($777 billion) France ($630 billion) Chapter 2 Copyright (c) 2007 John Wiley & Sons, Inc. 5 Introduction
6. Collectively, the top five export nations accounted for 35% of global trade in 2008. The Triad Regions(North America, Western Europe, and Japan) of the world collectively produced nearly 60 percent of world GDP in 2007, down from 78 percent in 2004. Chapter 2 Copyright (c) 2007 John Wiley & Sons, Inc. 6 Introduction
7. Introduction Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 7 The net result of these factors? Increased interdependence of countries/economies Increased competitiveness Need for firms to keep a constant watch on the international economic environment. Consumers and companies in the U.S. and Japan are able to find domestic sources for their needs because of their diversified and extremely large economies.
8. 1. Intertwined World Economy Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 8 Despite the increasingly intertwined world economy, the United States is still relatively more insulated from the global economy than other nations. In 2008, the U.S. economy was about $14.3 trillion and imports about 63% more than it exports.
9. Exhibit 2-2: Top 10 Exporters and Importers in World Merchandise Trade, 2008 Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 9
10. 1. Intertwined World Economy Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 10 The larger the country’s domestic economy, the less dependent it tends to be on exports and imports relative to its GDP. Intertwining of economies by the process of specialization due to international trade leads to job creation in both the exporting and importing country. Foreign direct investment (FDI)involves investment in manufacturing and service facilities in a foreign country.
11. 1. Intertwined World Economy Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 11 As firms invest in manufacturing and distribution facilities outside their home countries to expand into new markets around the world, they have added to the stock of foreign direct investment. The increase in foreign direct investment has also been promoted by the efforts of many national governments to woo multinationals. Portfolio investment or indirect investment refers to investments in foreign countries that are withdrawable at short notice, such as investments in foreign stocks and bonds.
12. Exhibit 2-3: Foreign Direct Investment Inflows, 1980 - 2007 Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 12
13. 1. Intertwined World Economy Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 13 The weekly volume of international trade in currencies exceeds the annual value of the trade in goods and services. All nations with even partially convertible currencies are exposed to the fluctuations in the currency markets. A rise in the value of the local currencies make exports more expensive; a rising currency value also deters foreign investment in a country and may encourage outflow of investment.
14. 1. Intertwined World Economy Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 14 Examples of severe currency fluctuations are the 1995 Mexican meltdown, and the Asian financial crisis (1997-1999). Unfortunately, the influence of these short-term money flows are nowadays far more powerful regarding exchange rates than an investment by a Japanese or German automaker. Recent examples of financial crisis occurred in Argentina and Brazil (2002).
15. 2. Country Competitiveness Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 15 Country competitivenessrefers to the productiveness of a country, which is represented by its firms’ domestic and international productive capacity. Country competitiveness is not fixed. The role of human skill resources has become increasingly important as a primary determinant of industry and country competitiveness.
18. The U.S. and Switzerland have been the most innovative in the last three decades
19. Other OECD countries (especially Japan) have been increasingly catching up. (see Exhibit 2-5)
20. Exhibit 2-4: Global Competitiveness Ranking Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 17
21. Exhibit 2-5: Change in Country Innovativeness: A Key to a Country’s Long-Term Competitiveness Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 18
22. 3. Emerging Economies Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 19 Over the next two decades, the big emerging markets (BEMs) will hold the greatest potential for U.S. exports Largest BEMs: Chinese economic area (including China, Hong Kong region, and Taiwan), India, C.I.S. (Russia, Central Asia, and the Caucasus states), South Korea, Mexico, Brazil, and Argentina B.R.I.C.- Brazil, Russia, India, China Each BEM offers opportunities and challenges for local policy makers, businesses and the international business and economic community
23. Exhibit 2-6: Leading Emerging Economies in 2008 Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 20
24. 4. Evolution of Cooperative Global Trade Agreements Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 21 ITO (International Trade Organization): ITO was established after World War II. GATT (General Agreements on Tariffs & Trade): After 1950, GATT succeeded ITO. The main operating principle of GATT was the concept of most favored nations (MFN). GATT was successful in lowering trade barriers.
25. 4. Evolution of Cooperative Global Trade Agreements Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 22 WTO (World Trade Organization): The eighth and last round of GATT talks – called the Uruguay Round (1986-1994) established an international body called the WTO which took effect on January 1, 1995. As of July 2008, WTO had 153 member countries. WTO has statutory powers to adjudicate trade disputes among nations and has its own secretariat. WTO is the new legal and institutional foundation for a multilateral trading system.
26. 4. Evolution of Cooperative Global Trade Agreements Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 23 WTO’s ninth round---called the “Doha Development Agenda” (Doha Round)was launched in Doha, Qatar in November 2001 (see Exhibit 2-7). Interim deal in December 2005 to end farm export subsidies by 2013 prevented collapse of the latest round of the talks. The Doha Round of 2001 facilitated the way for China and Taiwan to get full membership in the WTO.
27. Exhibit 2-7: Agenda for the Doha Round Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 24
28. 4. Evolution of Cooperative Global Trade Agreements Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 25 Although WTO is a global institutional proponent of free trade, it is not without critics. The WTO dispute settlement mechanism is faster, more automatic, and less susceptible to blockages than the old GATT system. The WTO Work Program on Electronic Commerce is in the process of defining the trade-related aspects of electronic commerce that would fall under the parameters of WTO mandates.
29. 5. Information Technology and the Changing Nature of Competition Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 26 Information technology and the changing nature of competition have created many challenges for the firms. Over the Internet, any piece of electronically represented intellectual property can be copied. The Trade Related Aspects of Intellectual Property Rights (TRIPS)Agreement was concluded as part of the GATT Uruguay Round. Update to accord ensuring patent protection does not block developing countries’ access to affordable medicines is the top of the agenda.
30. 5. Information Technology and the Changing Nature of Competition Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 27 Proliferation of E-Commerce and Regulations:Countries’ regulators have not kept pace with the rapid proliferation of international e-commerce and Internet-related activities. In many countries, rules and regulations are vague regarding e-commerce transactions. The United Nations Commission on International Trade Law (UNCITRAL)has formed a Working Group on Electronic Commerce to reexamine these treaties.
31. 6. Regional Economic Arrangements Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 28 An evolving trend in international economic activity is the formation of multinational trading blocs. There are over 120 regional free trade areas worldwide. Market groups take many forms, depending on the degree of cooperation and inter-relationships, which lead to different levels of integration among the participating countries.
32. 6. Regional Economic Arrangements Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 29 Types of Regional Economic Arrangements: Free Trade Areas: Formal agreement among two or more countries to reduce or eliminate customs duties and nontariff barriers. Examples: NAFTA, MERCOSUR, CAFTA-DR & FTAA (proposed and currently stalled) Customs Union: Addition of common external tariffs to the provisions of free trade agreements. Example: ASEAN.
33. 6. Regional Economic Arrangements Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 30 Common Market: Eliminates all tariffs and other barriers, adopts a common set of external tariffs on nonmembers, and remove all restrictions on the flow of capital and labor among member nations. Example: European Union. Monetary Union: Represents the fourth level of integration with a single currency among politically independent countries. Example: EU and the euro. Political Union: Highest level of integration resulting in a political union. Sometimes, countries come together in a loose political union for historical reasons, as in the case of the British Commonwealth which exists as a forum for discussion and common historical ties.
34. 7. Multinational Corporations Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 31 The U.S. government defines a multinational corporations (MNC) for statistical purposes as a company that owns or controls 10 percent or more of the voting securities, or the equivalent, of at least one foreign business enterprise. At present, there are 78,000MNCswith 780,000affiliates in foreign countries. MNCs’ total sales exceeded 52% of world GDP in 2006.
35. 7. Multinational Corporations Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 32 In 1970, of the 7,000 multinationals identified by the United Nations, more than half were from two countries: the United States and Britain. By 1995, less than half of the 36,000 multinationals identified by the United Nations came from four countries: the United States, Japan, Germany, and Switzerland. The nation-state, while considerably weaker than its nineteenth century counterpart, is likely to remain alive and well.
36. Chapter 2 Copyright (c) 2007 John Wiley & Sons, Inc. 33 Exhibit 2-8: Outward Foreign Direct Investment (FDI) Stock and Employment in Foreign Affiliates, 1982-2006
37. 7. Multinational Corporations Chapter 2 Copyright (c) 2009 John Wiley & Sons, Inc. 34 Currently, factors such as currency movements, capital surpluses, faster growth rates, and falling trade and investment barriers have all helped multinationals from other countries join the cross-border fray. It is not unusual for a start-up firm to become global at its inception. Those firms are known as “born global.”