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Essay / Research Paper Abstract
This 7 page paper will look at political, cultural and technological factors and how they impact marketing decisions.
Page Count:
7 pages (~225 words per page)
File: D0_HVGlobal.rtf
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Unformatted sample text from the term paper:
a meeting in London. Multinational corporations are commonplace, and we are becoming used to the idea that we now compete in a global marketplace. In the marketing
field, this increasing globalization means that we have to be aware of many different factors that act on our plans and decisions in an international arena. This paper will
look at political, cultural and technological factors and how they impact marketing decisions. Political Factors In the political area, we can look to Korea as an example of the way
politics impacts marketing. Korea was one of the Asian economies "most severely affected by the financial crises of 1997-98," and the severity of the crisis can be traced to
governmental decisions; it can be seen most clearly in the auto industry (Ravenhill, 2001). At the present time, its estimated that there are more cars in the world
than drivers for them. In Korea, "the domestic car market was already saturated, and the government under increasing international pressure to open it to imports" (Ravenhill, 2001). During
the crisis, auto companies (including Kia, Samsung and Daewoo) "sought protection from creditors" (Ravenhill, 2001). At this point the Korean government had to make a choice between three evils:
"two nationalist and one globalist approach" (Ravenhill, 2001). The first approach was for the government to bail out the companies; the second was to allow the firms to
be taken over by other Korean companies; and the third was to allow the companies assets to be purchased by foreign investors (Ravenhill, 2001). This was the option that
was eventually pursued, largely because of government involvement in the industry. The "centrality of the state in the establishment and nurturing of the automobile industry in Korea is beyond dispute"
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