Globalization occurs as ideas, goods, and services spread worldwide, speeding up innovation and production. When countries trade, they contribute to globalization. Conducting a country market assessment involves analyzing economic metrics, sociocultural factors, infrastructure/technology, and governmental actions like taxes. GDP measures a country's total annual production while GNI includes overseas investment income. Common forms of international business include franchising, strategic alliances, joint ventures, and direct foreign investment. Global market strategies must consider cultural barriers, subcultures, and how consumers view products differently by country.

1. Global Markets
By: Govind Nadathur

2. - Globalization occurs when ideas, products, goods,
services, and more from one region spread across the
world.
- This greatly speeds up innovation, production, and more. For
instance, immigration to countries turbo-charges the amount of
production and labor that can be done.
- When countries trade with one another, they are contributing to
globalization.

3. Components of a Country Market Assessment
- Economic analysis using metrics: this allows us to
quantitatively measure the amount of income, population
growth, job growth, and more.
- Sociocultural analysis: this looks at how the power is
distributed in a nation, how a society deals with uncertainty
and ambiguity, how a country values individualism, and more.

4. Components of a Country Market Assessment
(Continued)
- Infrastructure and technology: this shows us the advancements
that allow people to interact with one another. This looks at what
sort of transportation exists in the nation, how they communicate,
how commerce is sold, and more.
- Governmental action: This looks at how the government interferes
with money and trade. This encompasses the taxes or tariffs placed
on imports, the quotas, trade agreements, and more.

5. GDP & GNI
- The gross domestic product (GDP) is the market
value of all goods produced by a country each year.
- Gross national income (GNI) is the GDP plus all
money earned from investments elsewhere.

6. Franchising
Franchising: when a firm, the franchisor, and another
individual, the franchisee, sign a contract that allows
them to operate a business. Common examples of
franchises are restaurants such as McDonald’s, Pizza
Hut, Starbucks, along with hotels such as Garden Inn.

7. Strategic Alliance
A strategic Alliance is when separate firms collaborate
with one another. They do not hold equity in one
another. For example, Barnes & Noble has a strategic
alliance with Starbucks. They have a Starbucks at their
locations so readers can enjoy coffee. Another common
example is Uber and Spotify.

8. Joint Venture
A joint venture is when a firm puts a lot of its resources
together with a local firm. The local firm then gets to
have significant ownership, control and part of the
profits. The local partner helps the new firm grow. For
example, Fiat Chrysler and Google is a joint adventure
that helped create self driving cars.

9. Direct Investment
A direct investment is when a firm has total ownership of
all its plants, operational facilities, and offices in another
country. This is a very risky investment. If there is a
recession or dramatic change in the economy, there will
be major consequences to this decision.

10. Target Market: Segmentation, Targeting, and
Positioning
STP has many complex components. Firstly, firms that
want to expand globally need to understand certain
barriers such as language. Secondly, there are
subcultures within the country. Thirdly, consumers few
different products differently depending on the country.

11. Global Product or Service Strategies
There are three global product strategies: Firstly, one
can sell the same product in the home and host country.
This is called glocalizaiton. Secondly, they can sell the
good/service in a similar country with slight differences,
and lastly, they can sell completely different
products/services.