International Marketing Study Guide

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Global Marketing Management, 5e
Chapter 1
Globalization Imperative
Chapter Overview
1. Why Global Marketing is Imperative
2. Globalization of Markets: Convergence and Divergence
3. Evolution of Global Marketing
4. Appendix: Theories of International Trade and the Multinational Enterprise
Introduction
* Products have been traded across borders throughout recorded civilization, extending back beyond the Silk Road that once connected East with West from Xian (China) to Rome (Italy). * Total world merchandise trade volume grew from $7.6 trillion in 2000 to $16.3 trillion in 2008.

1. Why Global Marketing is Imperative * Big Emerging Markets (BEMs): In the next ten to twenty years, BEMs such as the Chinese Economic Area (CEA: including China, Hong Kong Region, and Taiwan), India, South Korea, Mexico, Brazil, Argentina, South Africa, Poland, Turkey, and the Association of Southeast Asian Nations (ASEAN: including Indonesia, Brunei, Malaysia, Thailand, the Philippines, and Vietnam) will provide many opportunities in global business.
-In the next 10-20 years the greatest commercial opportunities are expected to be found increasingly in BEMs * Saturation of domestic markets: Domestic-market saturation in the industrialized parts of the world and marketing opportunities overseas are evident in global marketing.
-The saturation of domestic markets in the industrialized parts of the world forced many companies to look for marketing opportunities beyond their national boundaries * Global competition: Competition around the world and proliferation of the Internet have been on the rise and are now intensifying. * Need for global cooperation: Global competition brings global cooperation. * Internet revolution: The Internet and electronic commerce (e-commerce) are bringing major structural changes to the way companies operate worldwide.
-The Proliferation of the internet and e-commerce is far reaching
-Developing countries led

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