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Global Marketing Copyright © 2012 Pearson Education, . Publishing as Prentice Hall Take a Bow: Marketing on the Global Stage • The global market ce • World trade: The flow of goods and services among different countries—the value of all the exports and imports of the world’s nations • Countertrade: A type of trade in which goods are paid for with other items instead of with cash – Barter is common form of countertrade 3-3 Figure 3-1 North American Trade Flows (in Billions of Dollars) 3-4 Global Means Growth 3-5 Figure 3-2 Steps in the Decision Process for Entering Global 3-6 Deciding to Go Global • Must consider market conditions and competitive advantage when making a decision – firms such as Chery are now exporting their brands to other countries, luding the U.S. 3-7 Understand International, Regional and Country Regulations • Initiatives in international regulation and cooperation help trade – General Agreement on Tariffs and Trade (GATT) – World Trade Organization (WTO) • Protectionism restricts trade – Quotas, embargoes, and tariffs • Economic communities help to promote trade World Trade Organization 3-8 Figure 3-3