Global firm refers to a firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors. The global company sees the world as one market. It minimizes the importance of national boundaries and develops global brands. It raises capital, obtains materials and components, and manufactures and markets its goods wherever it can do the best job.
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- Straight product extension
Straight product extension means marketing a product in a foreign market without any change. Top management tells its marketing people.
- Contract manufacturing
Contract manufacturing refers to a joint venture in which a company contracts with manufacturers in a foreign market to produce its product or provide its service.
- Product adaptation
Product adaptation involves changing the product to meet local conditions or wants. For example, Finnish cell phone maker Nokia customizes its cell phones...
- Geographic segmentation
Geographic segmentation calls for dividing the market into different geographical units, such as nations, regions, states, counties, cities, or even neighborhoods.
- Service perishability
Service perishability means that services cannot be stored for later sale or use
- Truck wholesalers
Truck wholesalers or truck jobbers are those wholesalers who perform primarily a selling and delivery function. Carry a limited line of semi perishable merchandise...
- Market penetration
The company growth by increasing sales of current products to current market segments without changing the product.