II. Say whether these statements are true or false. Justify your answer.

1. Globalization is the increase of trade around the world, especially by large companies producing and trading products in many different countries.  

2. Companies transfer their production overseas mainly because of ecological problems.

3. International trade increases target audience.

4. New communication technologies help share information and avoid restrictions.

5. Positive effect of globalization is indisputable.

6. Due to globalization the number of job openings increases.

7. Globalization leads to scarcity of natural resources.

 

Vocabulary Development

I. Match synonyms

1. interaction	a. shortage, scarcity
2. to utilize	b. proper, convenient
3. lack	c. change, stager
4.to results in	d. flow of communication
5. well suited	e. mixture
6. restrictions	f. to lead to
7. fluctuation	g. to use, to exploit
8. interpenetration	h. a rival
9. a competitor	i. limits
10. to reduce	j. survive
11. to withstand	k. decrease

II.  Fill in the table for the following words:

utilize

cost

profit

property

foster

insecure

Word	Definition	Equivalent	Synonyms	Antonyms	Derivatives	Set expressions

III. Fill in the correct word(s) according to the text.

1. people....... the globe

2. with the...........economies of various countries together

3. utilize competitive advantages......... production

4...........cheaper business environments

5. to gain..............their competitors

6. the main...........globalization

7.............inexpensive costs

8. a sharp...........and economic exchanges

9. fighting.............from foreign companies

10...........are forced to lower their prices

11............principles and beliefs of other nations

12. can...........white collar and manufacturing jobs

 

IV. Match these word partnerships to their meanings.

1. to beat the competition	a.acts done by a seller to confuse or deceive the public with intent to acquire a larger portion of the market, as by cutting prices below cost
2. unfair competition	b. a commercial treaty between two or more nations
3. trade barrier	c. an advantage based on success in competition
4. trade agreement	d. any regulation or policy that restricts international trade, esp. tariffs, quotas, etc
5. competitive advantage	e.to defeat rivals in a competition

 

V. Make sentences of your own using the word partnerships in exercise IV.

Language Development

 I. Read the idioms with the examples and try to explain their meanings. (check your guess in App3)

To corner the market

e.g. Intel has pretty much cornered the market of microprocessors for servers. Their direct competition, AMD, is a distant second.

2. a bridge too far

e.g. I think that Sam is clever but taking the higher exam would be a bridge too far for him.

3. ahead of the pack

e.g. If we want to stand ahead of the pack, we'll have to increase our marketing budget.

4. go down the drain

e.g. All our efforts in entering this new market, unfortunately went down the drain.

5. on the same page

e.g. Let's go over the contract details once again to make sure we are on the same page.

II. Complete the text with missing words and word combinations from the box.

Licensing and Franchising go international or not Joint Ventures of marketing principles Global web Strategy read the detailed information price Exports to undertake the marketing activities and selling of goods political, social, technological, cultural over the licensee Huge Market Share Direct Investment

InternationalMarketing

 

International Marketing is the application 1).......... to satisfy the varied needs and wants of different people residing across the national borders.

Simply, the International Marketing is 2)...................... in more than one nation. It is often called asGlobal Marketing, i.e. designing the marketing mix (viz. Product, 3)........., place, promotion) worldwide and customizing it according to the preferences of different nations.

The foremost decision that any company has to make is whether to 4)................., the company may not want to globalize because of its huge market share in the domestic market and do not want to learn the new laws and rules of the international market.

But however, there are following reasons that attract the organization to be global:

• Increased Economies of Scale
• High-profit opportunities in the international market than the domestic market
• 5).......................
• Elongated life of the product
• Untapped International Market

There are following ways through which companies can globalize:

1. 6)................: The easiest way to enter the market is through exports that can be indirect or direct. In Indirect Exports, the trading companies are involved that facilitates the buying 7).......................and services abroad, on behalf of their companies. Whereas in Direct exports, the company itself manages to sell the goods and services abroad, by setting Domestic based Export Department, through overseas sales branch or by their sales representatives traveling abroad.

2. 8)...................: Nowadays, companies need not go to the international trade fairs to show their products, they can very well create the awareness among the customers worldwide through an electronic media i.e. the Internet, where customers can 9).............., generally written in different languages, about the product and can order online.

3. 10)....................: One of the ways to globalize is through licensing, wherein a domestic company issues a license to a foreign company to use the manufacturing process trademark, patent, name of the domestic company while facilitating the sales. In licensing, the domestic company has a less control 11).................. However, in case of franchising, a domestic company enjoys higher control as it allows the franchise to function on its behalf, and in line with the terms and conditions of the domestic company.

4. 12)...............: The companies can go international by joining hands with other country based companies with the intention to monetize their existing relationships with the local customers.

5. 13)........................: Ultimately, firms can establish their own business facilities or own a part of a local company to facilitate the sale of goods and services.

The companies go international with the objective to have increased sales along with the huge market share. But certain things such as 14)........................situations should be kept in mind while designing the marketing principles since these are different for the different nations.

 

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