International Marketing: Ch 1 Book

International Marketing
the process of planning and conducting transactions across national borders to create exchanges that satisfy the objectives of individuals and organizations. (p 35)
International marketing is a
tool used to obtain improvement of one’s present position. (p 35)
The definition of “International Marketing” also focuses on
international transactions. The use of the term recognizes that marketing internationally is an activity that needs to be pursued, often aggressively. (p 36)
Those who do not participate in the international transactions
are still exposed to international marketing and subject to its influences. (p 36)
The international marketer is
a part of the exchange, and recognizes the constantly changing nature of transactions. This need for adjustment, for comprehending change, and in spite of it all, for successfully carrying out transactions highlights the fact international marketing is an art as much as it is a science. (p 36)
Iron Curtain
The Iron Curtain was the symbolic, ideological, and physical boundary dividing Europe into two separate areas from the end of World War II in 1945 until the end of the Cold War in 1991. (p 36)
Global Linkages
The worldwide network of trade connections that binds together countries, institutions, and individuals. (p 37)
ASEAN
Association of Southeast Asian Nations (p 37)
Trading blocs
A set of countries which engage in international trade together, and are usually related through a free trade agreement or other association. (p 37)
Industries and firms have come to realize
that they are not only competing domestically, but also globally. (p 37)
World trade has given
rise to global linkages of markets, technology, and living standards that were previously unknown and unanticipated. At the same time, it has deeply affected domestic policy-making, and has often resulted in the emergence of totally new opportunities, as well as threats to firms and individuals. (p 37)
World trade is also bringing about
a global reorientation of corporate processes, which open up new horizons. Never before has it been so easy to gather, manipulate, analyze, and disseminate information – but never before has the pressure been so great to do so. (p 38)
Advances in technology also allow firms
to separate their activities by content and context. Firms can operate in a “market space” rather than a market place by keeping the content, while changing of a transaction. (For example, a newspaper can now be distributed online globally rather than house-to-house on paper, thereby allowing outreach to entirely new customer groups.) (p 39)
The effects of closer global linkages on the economics of countries have been
dramatic. Policymakers have increasingly come to recognize that it is very difficult to isolate domestic economic activity from international market events. (p 39)
Currency flows
transfer of capital across national boundaries (p 40)
Exchange rates
Price of a currency expressed in units of another currency. (p 40)
Exchange rates have begun
to determine the level of trade between the countries. (p 40)
For policymakers to regain some of their power to influence events,
policymakers have sought to restrict the impact of global trade and financial flows by erecting barriers, changing tariffs, designing quotas, and implementing other import regulations. (p 40)
The WTO counteracts the policymakers by
restraining their policies by international agreements that regulate trade restrictions (p 40)
WTO
World Trade Organization (p 40)