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Competing in a global context (Global marketplace (Economic &…
Competing in a global context
Global trade environment
Technology :unlock:
reduce barriers between countries
internet
WTO
global rules on trade movements & GATT :red_flag:
Production & trade
Trade barriers
Trading systems for governments
FDI
Advertising & promotion
Regulations adaption for the countries :forbidden:
Policy
Stakeholders
Organisation
Consumers
Marketing intermediaries
Suppliers
Competitors
Publics
Governments
Comparative advantage :warning:
Reducing cost for supplying products over others
Porter's diamond model
Values, culture, economic, institutions, histories
Five forces of competition
Meeting customer needs & expectations
Brand reputation
Perception or interpretation by people
developing relationships
Unethical activities :red_flag:
Market attractiveness
Global market integration
Market's size & growth
Competition
Profit potential
Market access
Brand awareness & customer loyalty :silhouettes:
Adapting to local preferences, conditions & suit consumers' needs
Social & cultural trends
Taste & humour :smiley:
age, sex, income
Economic & financial flows :star:
Balance of payments
Individuals, organisation, government bodies
FDIs
improve economic for country
Infastructure
global imbalances between countries
market force & exchange rates weak or strong between trading
Financial regulations for each country :check:
IASB
IFRS
Interest rates
Global marketplace
Financial advantages in cost & reputation
Economic & government instability :star:
Different legislative restrictions
Diverse cultural preferences & practies
Marco environment
STEEPLE
Socio-cultures
Technological : :unlock:
Economic : :star:
Political & legal
Ethical :checkered_flag:
Consumer protection
increase in cultural homogenisation
Targeting marketing of low incomes
Geographical segregation of operations
CSR
Code of conducts :
Climate changes :recycle:
ETI
Organisation capabilities :warning:
Skills, resources, product adaptation, competitive advantage