BUSN 70 Lecture Notes - Lecture 50: Global Marketing, Outsourcing
13 Mar 2021
School
Department
Course
Professor
Document Summary
Competition is good for business makes prices fall. International business = the buying, selling and trading of goods and services across national boundaries. Most of the world"s population and two-thirds of its total purchasing power are outside the u. s. The us is only 4% of the entire world"s population. Global marketing requires balancing global brands with the needs of local consumers. American companies such as mcdonald"s have become widely popular in china. This restaurant in beijing features elements from the chinese culture as well as from american culture. Mcdonald"s has expanded around the world via franchising. Although the company will customize some of its meals to the local culture, this menu from mcdonald"s in morocco shows the firm offers similar fare across the world. Absolute advantage = a monopoly that exists when a country is the only source of an item, the only producer of an item, or the most efficient producer of an item.
