1. What are the basic goals of marketing? Are these goals relevant to global marketing? Answer: The basic goals of marketing are focusing the resources and objective of an organization on environmental opportunities and needs in order to satisfy customer wants and needs by offering the product and services. These goals are relevant to global marketing in every part of the world because every country have its needs and wants and managers need the goals as a guidelines to pursue the market opportunities in order to do business in foreign countries and create the value to consumers. 2. What is meant by global localization? Is Coca-cola a global product? Explain. Answer: Global localization is a product and service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market. It also customizing a product or service offered by a global entity according to consumers of specific region. Coca-cola is a global product in fact of it available in more than 195 countries. Coca-cola routinely establishes local companies in different countries around the world to oversee the product and distribution of its products. 3. Why do Korean companies favor ethnocentricity and U.S companies prefer a geocentric orientation? Discuss the functions of international law and legal issues that can affect global businesses. Answer: Korean companies favor ethnocentricity because they assume that the product they produce is superior than the other country and they only see the similarities in the market. While U.S prefer a geocentric, they have the worldview of the product and see the similarities as well as the differences in global market. Each country has laws and rules applying to its citizens in their international dealings, and to citizens of other nations .For example, law affecting investment in a country by foreign persons and companies, laws regulating the immigration of workers and laws also limited...
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