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  1. Developing a Global Vision
    • The growth of global marketing - the need for it and its importance.
    • The feat of globalization and protectionist behavior.
  2. Environmental Factors in Global Markets
    • Cultural (significant variations)
    • Political (can be unstable); and trade agreements (NAFTA; EU)
    • Economic (and currency exchange rates)
  3. Entering Global Markets
    • Exporting: selling domestically produced products to buyers in another country. Least complicated and least risky.
    • Licensing and Franchising: the legal process whereby a licensor allows another firm to use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge. Contract Manufacturing - private-label manufacturing by a foreign company.
    • Joint Venture: when a domestic firm buys a part of a foreign company or joins with a foreign company to create a new entity.
    • Direct Investment: active ownership of a foreign company or of overseas manufacturing or marketing facilities.
  4. Global Marketing Mix
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Card Set
MKGT351 - Chapter 5
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