Characteristics of global marketing1.pptx

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1. Characteristics of global marketing And WTO (World trade  organisation )

2. Introduction Global marketing is " Marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives".

3. 1.Large Scale Operations 2.Serves Broader Market 3.Global Competition 4.Exposed to Higher Risk 5.Exposed to Higher Restrictions 6.Uncontrollable events Characteristics of Global Marketing

4. Firms performing international marketing activities execute large scale operations as their product or services have to reach wide geographical locations, the operations start with production of these products which requires large amount of labour and capital. Later these products are promoted in many countries and this also increases the sales as the target is to reach large population. 1.Large Scale Operations

5. 21 2.Serves Broader Market The population generally scrued by international firms belong to different nations, the international firms serve beyond geographical boundaries. The extended target market increase the challenges as well as opportunities of these firms. Generating wider acceptance of products across different cultures and social groups and dealing with varied political and legal environment posses a challenge for international firms.

6. 3.Global Competition The international firms face intense competition at both domestic and international level. Domestic firms having knowledge of the market, culture and taste and preferences of customers pose the initial challenges. It is also followed by the competition posed by international players who have the advantage of large scale international marketing operations

7. 4. Exposed to higher risk Risk associated with international marketing is diverse in nature, it arises due to several reasons such as different cultures, political, social factors, languages, customer preferences or government regulations along with foreign exchange risk. Navigating these risks requires careful planning, market research, and adaptability. It's important to have a solid strategy in place and stay updated on the local market conditions and trends..

8. 5.Exposed to higher restrictions Restrictions are imposed on the international firms by government such as tariff and non tariff restrictions, different tax rates, restrictions on FDI ( Foreign Direct Investment), requirements of local director etc. These restrictions are normally imposed by government in order to protect domestic firms.

9. 6.Uncontrollable events Different events can result in different impact of similar marketing plans executed in different countries. Some examples of uncontrollable events in the international market are natural disasters, political instability, economic crises, and changes in government policies. These events can cause fluctuations in currency exchange rates, trade disruptions, and shifts in consumer demand.

10. Conclusion Global marketing involves reaching customers worldwide, adapting to different cultures, and navigating diverse legal environments. It requires understanding international markets, effective communication, and cultural sensitivity. It's a dynamic field with exciting opportunities and challenges.

11. WTO( WorldTradeOrganisation )

12. Introduction The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.The WTO has many roles: it operates a global system of trade rules, it acts as a forum for negotiating trade agreements, it settles trade disputes between its members and it supports the needs of developing countries.The primary purpose of the WTO is to open trade for the benefit of all.

13. WTO The World Trade Organization (WTO) was established in 1995 by the Marrakesh Agreement, which was signed by 123 nations in 1994. The WTO is an intergovernmental organization that regulates international trade. WTO members consist of 164 distinct nations. That is in addition to 24 observer governments (countries moving through the process of becoming members). There are only 16 countries who are neither World Trade Organization members nor observers. WTO members include the world’s largest and most advanced economies, like the United States, as well as small and developing nations, like Afghanistan.

14. INDIA ( WTO and GATT) India was one of the 23 founding Contracting Parties to the General Agreement on Tariffs and Trade(GATT) that was concluded in October1947. India has been a WTO member since 1 January 1995 and a member of GATT since 8 July 1948.

15. IMPORTANCE The overall objective of the WTO is to help its members use trade as a means to raise living standards, create jobs and improves people's lives. The WTO operates the global system of trade rules and helps developing economies build their trade capacity. Global rules of trade provide assurance and stability. Assuring maximum utilization of world resources. Preserving the environment.

16. ADVANTAGES Lower trade barriers : The WTO's global system lowers trade barriers through negotiation and operates under the principle of non-discrimination. This results in reduced costs of production, reduced prices of finished goods and services, and more choice. Trade dispute settlement : The WTO's Understanding on Dispute Settlement provides WTO members with a legal framework for resolving trade disputes.

17. Supports developing countries : The WTO supports the demands of developing countries. Increased income level : The WTO promotes the standard of living of people by increasing their income level from free trades. The major advantage of The World Trade Organization (WTO) facilitates international trade negotiations and resolves trade disputes between its member countries.

18. Conclusion WTO has a crucial role in international trade. WTO --facilitates implements,trade . WTO administration and smooth operations oftrade agreements between the countries.The role of WTO is to provide fair platformto it's member country to help in service likeexports,imports and conduct their businessin a peaceful manner.

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