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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 the amount of exports and imports within every countries.
4. Identify and briefly describe some of the forces that have resulted in increased global integration and the growing importance of global marketing. Answer: Driving and Restraining forces. The driving forces include regional economic agreements such as NAFTA and EU, converging market needs and wants, technology advances which to recoup the production cost, enhance the quality of product via R&D as well as the world economic trends for example, privatization. Besides, the chances to use leverage, corporate culture also create the trade barrier which to protect the benefits of the certain country.
5. Define leverage and explain the different types of leverage utilized by companies with global operations. Answer: Leverage is a general term for any technique to multiply the gains and loses . A global company can take benefits of several types of leverage in pursuit of corporate goals such as revenue and profits growth. For instance, there are experience transfers, scale economies, enhanced resources utilization and global strategy.
6. What in your view is the future of a company such as Nokia? Will it able to continue as an independent company? Why? Why not? Answer: In my opinion, Samsung company will be such as Nokia in the future. It won’t be able as an independent company because the competition in this field is very strong. The producer should come out with the new initiatives always and ensure the product is fulfilling the customer needs. If not, the consequences of the company will same as the Nokia.
7. Discuss marketing strategies to explore opportunities in a changing global environment. Answer: Global branding can make opportunities around the world market. A brands product is responsible for all the product and marketing functions and long-term development of the product that are branded to get the loyalty of customer. This brand strategy is to influence people’s perception of a brand in such a way they are persuaded to act in a certain manner. It is an activity that undertaken in a competitive environment, the aim is also persuade people to prefer the brand to competition.