GMS 522 Lecture Notes - Lecture 1: Multilateral Trade Negotiations, Peacekeeping, Social Integration

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 522
• Professor: Carlyle Farrell

Document Summary

The process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations. Definition emphasizes: cross border transactions, satisfaction of consumer needs, exchanges between transacting parties. With (cid:862)i(cid:374)ter(cid:374)atio(cid:374)al (cid:373)arketi(cid:374)g(cid:863) (cid:272)o(cid:373)pa(cid:374)ies (cid:449)ould simply extend their domestic marketing strategies to foreign countries with little or no adjustment. International sales often seen as secondary to developing the domestic market. Think logic of build strong business at home then try to take on new territory. Over time country differences were recognized and firms began to develop separate marketing strategies for each target country (e. g. a multi-domestic marketing strategy was used) However, no head office coordination between country markets. Defined as: making activities coordinated and integrated across multiple country markets. Integration involves product standardization, identical brand names, consistent packaging, and a similar advertising message. Ted levitt argued in 1983 that markets are becoming more homogeneous and therefore could be targeted with standardized products.