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Principles of Marketing

Chapter Summary

Principles of MarketingChapter Summary

As outlined in this chapter, transportation, technological developments, and business landscape and cultural considerations go hand in hand with globalization. Marketers must develop competitive marketing strategies in a realm far different than they’re accustomed to. Decisions have expanded to encompass complex international considerations. Once a company has decided to enter an international marketplace, it must decide how best to make that entry. Some companies decide to export products, some determine a joint venture is the best approach, and others elect to invest in building manufacturing facilities. Each offers differing levels of investment, control, and potential profit. An additional and vital concern is whether the company will standardize its product offerings or shift products to adapt to cultural differences. In any event, successful businesses select their marketing partners and intermediaries carefully as they aim to add value global customers want.

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