How TPA Works
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The document discusses the importance of trade for the U.S. retail industry and jobs. It explains that Trade Promotion Authority (TPA) allows Congress to set negotiating objectives for trade agreements while retaining approval authority. TPA benefits the retail industry by enabling investment overseas, growing overseas markets for U.S. goods, expanding e-commerce, reducing tariffs, supporting trade jobs, and lowering costs for American families. The document encourages contacting Congress to voice support for renewing TPA.
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CONSULTANT CREDENTIALS
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When penetrating the international market, it is important to have controllable product, price, promotion and research available for distributing. However, the domestic environment and foreign environment will be uncontrollable. This is when the company will have to modify the firm’s original characteristics to match the culture’s political forces, geography, competition, climate and economic climate. All of this goes into how the brand’s product and service will ultimately be viewed by the international market and ignoring these steps can result in failed marketing efforts. (Cateora, Graham, Gilly & Money, 2020)
9) Discuss the three factors necessary to achieve global awareness?
In today’s marketplace, it is crucial for businesses and brands to understand what it means to be globally aware, especially when marketing to other cultures to achieve global awareness. The first factor to achieve global awareness, is for a company to incorporate what it means to be globally aware. To be globally aware consists of being able to respect and tolerate one’s differences in their culture, compared to one’s own. It is important to respect these differences, otherwise there won’t be a clear way to communicate these differences in a precise way.
The second factor is to understand the history, culture and stay up-to-date on current news and politics. This all plays a role in how a company can begin to achieve global awareness for their brand because it keeps marketing messages relevant the ever-changing culture.
The last factor, is to create long-term business relationships with those of other cultures. A variety of people who come from different backgrounds and cultures should be made into a stable group of managers and directors. It is important to have these people ahead of marketing and creating new campaigns when entering a new global market. This diversity is important because they are a key asse.
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Discussion 1 MD International is a medical supply company tha.docx
Discussion 1
MD International is a medical supply company that has exported medical equipment, initially to Latin America. They acted as an intermediary for other businesses in doing so. This made it more cost efficient for other businesses due to the broad spectrum of products MD was involved with. The company owner chose Latin America since he was already familiar with business in the area. At the time trade barriers were coming down, which made the area ripe for new entry. The local governments were also expanding in the area of health care (Hill, 2012).
The company made South Florida home base. The company worked with specialists in Latin America in the fields of medical supplies they were trying to sell. Along with selling the products, they were able to offer training and support for the products they sold (Hill, 2012).
They relied on export assistance programs established by the United States. One of the biggest things they counted on was the Export Import Bank, also known as Ex-Im Bank. This bank provided financial assistance and insurance to help facilitate exports, imports and exchanges between the United States and foreign countries (Hill, 2012).
MD International started out as a small company. With that understanding, although they became successful, they could not have done so without the help of these programs. They could not afford to finance business deals with other companies and foreign countries on their own. They also could not afford to float loans and continue to produce. In essence, without the assistance of U.S. government assistance, MD International would not have been able to accomplish their goals of going into the global market.
According to James Merritt, owner of MD International, “ Without Ex-Im’s assistance, our company would have lost important sales, and individuals throughout Latin America would have gone without access to modern medical technology” (Merritt, 2006, p.1).
This to me is definitely good use of taxpayers money. Businesses that are able to export goods and services are in essence bringing money back into the United States through their sales. Even small business can grow into large corporations given the right circumstances. Unfortunately this is not always easy to accomplish without the capital to do it.
Getting this capital is not easy due to the risks involved in dealing with other countries. If a foreign country defaults on a loan, the money is difficult to recover. The laws governing them are different and the currency is not always the same or equal. Most conventional banks refuse to become involved in these deals (Merritt, 2006).
For those companies that have a product that could bring money back to the United States, the Ex-Im Bank is a lifesaver. “American companies of all sizes would lose countless billions of dollars in export sales—and the high-paying expor.
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Brad Puckett, Little Caesars
Cate Zovod, Near
When it comes to opening a new QSR location, the decision around site selection is critical — and the wrong decision can be extremely costly. For a QSR looking to significantly expand to new locations, the stakes are even higher. Founded in 1959, Little Caesars has been a popular pizza chain in the U.S. for decades. Having successfully responded to new consumer behavior in recent years, the chain is poised for rapid expansion across the U.S. and other growing markets like Canada and Mexico. With a goal to maximize ROI on the new locations, the company had to identify and prioritize sites for their new stores in a smart and scalable way. Learn how they turned to human movement data to empower teams in the U.S. and internationally to create a strategic expansion plan.Can resale increase foot traffic in stores?
Presentation from NRF 2023: Retail's Big Show
Lee Peterson, WD Partners
Seana Strawn, IKEA US
Resale is ecologically beneficial, applies to many types of merchandise and is on-trend, but we are finding that the resale of goods online isn't as profitable as in store--think photo shoot, double ship and repackaging of items. So if done right at store level, can resale be more profitable, increase foot traffic with unique offerings, and boost customer loyalty? Learn from IKEA about their in-store resale experience, hear exclusive research from WD Partners and see visual renderings that show how areas of resale can be executed in several types of merchandise categories.
Demystifying data: Profitability, people and the power of analytics
Presentation from NRF 2023: Retail's Big Show
Cam Avent, Union Square Hospitality Group
Kelly MacPherson, Union Square Hospitality Group
Morgan Wiley, Union Square Hospitality Group
In this session, we will have an interactive discussion outlining best practices for infusing data-driven decision making into an organization’s DNA: driving bottom-line results, personalizing and elevating the guest experience, and creating a workplace that inspires and retains high performers. We will share best practices on how to put the right numbers with the right context in the right hands, and how to craft optimal employee and guest experiences by leveraging analytics.
Five reasons automation will save your restaurant
Presentation from NRF 2023: Retail's Big Show
James Boushka, Aramark
Time. The precious resource so few restauranteurs and hospitality veterans have. From preparation and production to serving guests to paying invoices, there are no shortage of mundane tasks essential to a well-functioning restaurant. Rising labor costs, guest demand for speed, and shrinking profit margins are propelling the industry to embrace automation as a marker for impactful success. Discover the trends and challenge your operational model to create experiences where humans and automation work together.
Retail Media Networks: How the physical store will power their next phase of ...
Retail Media Networks: How the physical store will power their next phase of ...National Retail Federation
Presentation from NRF 2023: Retail's Big Show
Kristi Argyilan, Albertsons Media Collective
Aaron Dunford, Nordstrom
Andrew Lipsman, Insider Intelligence
Retail media is disrupting the digital advertising industry and creating new high-margin revenue streams for retailers. The opportunity behind this fast-growing $40 billion US market is significant, with brands eager to capitalize on retailer first-party data to reach shoppers with relevant advertising experiences. In this session with retail media leaders, we examine how retail media networks are evolving to meet consumers shopping behaviors wherever they are, whether that be in-store or online.Working together to combat organized retail crime
Presentation from NRF 2023: Retail's Big Show
Adam Braun, Illinois Attorney General's Office
David Johnston, National Retail Federation
Millie Kresevich, EssilorLuxottica
Maria Michel-Manzo, Homeland Security Investigations
Organized retail crime (ORC) is a growing threat to retailers of all sizes, is imperiling employee and customer safety, and is hurting companies’ financial performance. This session will highlight how ORC threats are evolving, how law enforcement and retailers can work together more effectively on ORC investigations, and what NRF is doing to support legislation and industry initiatives that will help to counter ORC.
Voice in retail: It speaks, it listens, it’s impacting our real world businesses
Voice in retail: It speaks, it listens, it’s impacting our real world businessesNational Retail Federation
Presentation from NRF 2023: Retail's Big Show
Glenn Allison, Tractor Supply Company
Donald Buckley, Lullaboo Studios,
Treehouse Consulting, LLC
Vicki Cantrell, Vendors in Partnership LLC
Mirko Saul, Schwarz Digital GmbH & Co. KG
You may know it as smart speaker, or the voice that tells jokes to your kids. You may think it’s a marketing channel, or only available through Big Tech.
Think again. A number of leading retailers know conversational artificial intelligence – voice assistance -- as a technology that is creating operational efficiencies (from warehouse to store), aiding employee retention, and lifting brand affinity. A technology that’s not only on the roadmap, but in implementation. (And in ways you may not expect.)
Join industry leader Vicki Cantrell and top executives from retail and entertainment as she pulls back the covers on the value of voice and retail, and explores the questions you’d ask: what’s real, what’s not, and what’s next? Where and how is this better than what we’re doing now? How do we protect the privacy of our customers – and our own data? How do we get started, and with whom?
A look ahead to 2023: Impasse or opportunity for a new path
Presentation from NRF 2023: Retail's Big Show
Ira Kalish, Deloitte Touche Tohmatsu Ltd.
In 2022, the world has faced significant challenges that have continued to disrupt the retail industry. We have seen inflation, war, the pandemic, climate change, supply chain challenges, changing government policies, and even increased talk about deglobalization. In this presentation, Dr. Ira Kalish, Deloitte’s Chief Global Economist, will discuss these issues as he offers his view on continued evolution and what retailers can expect in 2023 and beyond.
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Demystifying data: Profitability, people and the power of analytics
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Retail Media Networks: How the physical store will power their next phase of ...
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Voice in retail: It speaks, it listens, it’s impacting our real world businesses
Voice in retail: It speaks, it listens, it’s impacting our real world businesses
A look ahead to 2023: Impasse or opportunity for a new path
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How TPA Works
- 2. The U.S. retail industry supports 1 in 4 American jobs. In 2013, U.S. trade supported nearly 6.9 million U.S. retail and restaurant jobs. Why trade matters
- 3. Trade Promotion Authority is a process for Congress to set the negotiating objectives for the administration to pursue in a Free Trade Agreement. W hat is TPA? W hat is TPA?
- 4. Congress sets negotiation objectives on trade. Congress votes on trade agreements. The administration must consult with Congress before, during and after negotiations. What is the process?
- 5. How does TPA help? Enables U.S. retail investment overseas Grows market for American goods Expands U.S. e-commerce Reduces tariffs Supports and grows trade jobs Lowers the cost of goods to American families
- 6. Tell Congress to support Trade Promotion Authority. #TPA4USJobs LEARN MORE nrf.com/trade