*Global marketing:-

Global marketing is a firm ability to market to almost all countries on the planet with extensive
reach, the need for a firm product or service is established. Thee global firm retains the
capability, reach knowledge staff, skill, insights and expertise to deliver value customers
worldwide. The firm understands the requirements to service customer locally with global
standard solutions or products and localizes that product as required to maintain an optimal
balance of cost, efficiency, customization and localization in a control- customization continuum
to best meet local, national and global requirements to position itself against or with
competitors, partners, alliances, substitutes and defend against new global and local market
entrants per country, region or city..

*Nature of global marketing :-

Global marketing is the marketing carried out by companies or across national borderlines. this
is strategy uses an extenision of techniques used inn the home country of a firm. It refers to the
firm level marketing practices across the border including market identification and targeting,
entry mode selection, marketing mix and strategic decisions to complete in international
markets. In contrast to the definition marketing only the word multinational has been added. In
simple words international marketing is the application of marketing principle across national
boundaries. However, there is a crossover between what is commonly expressed as a
international marketing and global marketing, which is similar term.

The intersection is the result of the process of internationalization. Many American

and European authors see international marketing as a simple extension of exporting whereby
the marketing mix4ps simply adapted in some way to take into accounts differences in
consumers and segments. It then follows that global marketing take words in similarities in
consumers and segments

Globalization - the growing integration of economies and societies around the world.

Globalization Is an integration of a country’s economy with world economics where goods and
services as well as capital move across the border, where a country finical markets are affected
by fluctuations in the global market

Globalization is the spreading of the business or integration of the culture over the world for
economic growth and betterment of mankind

*Definition of Globalization: - * it is the defined as “the increasing integration of

national economic system through growth in international trade, investment and capital flows
*Economic Globalization constitutes integration of national economic into international
economy through trade, direct foreign investment, short term capitals flows, international
flows of workers and humanity generally and flows of technology – jag dish Bhagwati

*Trends towards Globalization:-

* The transnational economy is shaped mainly by money flow rather than by trade in goods and
services. These money flows have their own dynamics

*the monetary and fiscal policies of sovereign governments increasingly react to events in the
international money and capital markets rather than actively shape them

*in the transnational economy management emerged as the decisive factor of production and
the traditional factors of production and the traditional factors of production, land and labor,
have increasingly become secondary

*money and capital markets too have been increasingly becoming transnational and universally
obtainable

*In the transnational economy the goal is market maximization and profit maximization

*trade, which increasingly follows investment, is becoming function of investment

*the decision making power is shifting from the national state to the region

*There is a genuine-and almost autonomous-world economy of money, credit investment

flows. It is organized by information which no longer knows as national boundaries.

*Finally, there is a growing pervasiveness of the transnational corporations why see the entire
world as a single world as a single market for production and marketing of goods services
*TRAIFF BARRIERS:-

Tariff is custom duty or a tax on products that move across borders. The most important of
tariff barriers is the custom duty imposed by the importing country.

SPECIFIC DUTY:- Specific duty is based on the physical characteristics of goods. When a fixed
some money, keeping in view the weight or measurements of a commodity, is levied a tariff it
is known as specific duty.

AD VALORNE DUTY: - These duty are imposed “according to value” when a fixed present of
value of commodity is added as a tariff it is known as ad valorne duty. It ignores the
consideration of weight, size or volume of commodity.
NON-TARIFF BARRIERS:-

*QUOTA SYSTEM: - * under this system a country may fix in advance, the limit of important
quantity commodity that would be permitted for important from various countries during a
period. The quota system can be divided into the following categories:

* Tariff quota

*unilateral quota

* Bilateral quota

* Multilateral quota

*PRODUCT STANDARDS:- * Most developed countries impose product standards for

imported items. If the imported items do not conform to established standards, the imports are
not allowed. For instance, the pharmaceutical products must conform pharmacopoeia
standards.

* DOMESTIC CONTEST REQUIREMENTS:- * Governments impose domestic content

requirements to boost domestic production. For instance, in the us bailout package, the us
Govt. introduced ‘buy American clause’ which means the us firm that receive bailout package
must purchase domestic content rather than important from elsewhere.

* PRODUCT LABELLING: - * certain nations insist on specific labeling of the products. For
instance the European Union insists on product labeling in major languages spoken in EU. Such
formalities create problem for exporters.

* PACKING REQUIRMENTS: - * certain nations insist on particular type of packing materials.

For instance, EU insists recyclable packing materials; otherwise, the imported goods may be
rejected .formalities crate problem for exporters.

*CONSULAR FORMALITIES: - * A numbers of importing countries demand that the shipping

documents should include consular invoice certified by their consulate stationed in the
exporting country.

* STATE TRADING: - * in some countries like India, certain items are imported or exported only
through canalizing agencies like MMTC. Individual importers or exporters are not allowed to
import or export canalized items directly on their own.
Stages of global marketing:-
*Various stages of global marketing are given below
*Stage1: DOMESTIC –MARKET ESTABLISHMENT: The domestic market is often an
appropriate place to test products and fine tune performance before tackling the complexities
of international trade. It can be trade also give a good indication of performance.

*Stage2:export research and planning :-When companies begin trading abroad, they
often target a country similar to their own in language, financial structure, legal and economic
systems or culture example, Indians entering the international marketplace usually adress the
market first.

*Stage3: intial export sales: - When implementing an export plan, it’s advisable to begin
modestly by testing the market. A graduated strategy enables the novice exporter to acquire
practical

Experience in a market without incurring unnecessary or unmanageable risk.

*Stage4: EXPANSION OF INTERNATIONAL SALES:- If initial sales have been good,

planning for lager orders and expanded activity should follow.

*Stage5: investment abroad:- if sales are quick, profits encouraging and opportunities
promising, the company may choose to expand its presence in the target market.