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International Marketing Summary

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International Marketing
Summary

Chapter 1: Global Environmental Drivers

Over the last few decades, international merchandise trade has expanded at astounding rates to reach $16.3 trillion in 2011. In addition, trade in services has grown at particularly high rates within the last decade to reach almost $3.7 trillion in 2010. As a result, nations are much more affected by international business than in the past. Global linkages have made possible investment strategies and marketing alternatives that offer tremendous opportunities. Yet these changes and the speed of change also can represent threats to nations and firms.
On the policy front, decision makers have come to realize that it is very difficult to isolate domestic economic activity from international market events.
Factors such as currency exchange rates, financial flows, and foreign economic actions increasingly render the policymaker powerless to implement a domestic agenda. International interdependence, which has contributed to greater affluence, has also increased our vulnerability. Both firms and individuals are greatly affected by international trade. Whether willing or not, they are participating in global business affairs. Entire industries have been threatened in their survival as a result of international trade flows and have either adjusted to new market realities or left the market. Some individuals have lost their workplace and experienced reduced salaries.
At the same time, global business changes have increased the opportunities available. Firms can now reach many more customers, product life cycles have been lengthened, sourcing policies have become variable, new jobs have been created, and consumers all over the world can find greater varieties of products at lower prices. To benefit from the opportunities and deal with the adversities of international trade, business needs to...

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