The document discusses key concepts in international marketing. It begins by outlining learning objectives, including the changing nature of global business and importance of cultural awareness. Recent global events are then reviewed, followed by trends like growth of free trade areas and acceptance of free markets. Internationalization of U.S. firms and competition on the global stage is also covered. The document defines international marketing and outlines the complex foreign environment factors companies must adapt to. It emphasizes avoiding ethnocentrism and the self-reference criterion to properly understand foreign markets. Finally, it reviews stages of international involvement and strategic orientations like multi-domestic, regional and global approaches.