THE INTERNATIONAL MARKET

ROMANCING THE GLOBE

EMBRACING LOCAL CULTURE

LOCAL CULTURE

ADAPTING PRODUCTS AND PROCESSESS

» The Gods of Wealth

» Longevity

» Happiness

THE SECRET OF MAGIC GOURD

LOCAL EMPLOYEES

CULTURAL KNOWLEDGE

» Culture general

» Culture specific

EMBRACE LOCAL CULTURE

Corporate credos – company’s mission

statement

Wreathed in – surrounded by

Pays homage – a public show of respect

or honor towards someone or something

inadvertently – without intention

or accidentally

Sam Walton, the founder of Wal-Mart established the“Three Basic Beliefs” as his company’s credo:

-Respect for the individual-Service to our customers-Strive for excellence

3M’s plant near Bangkok,Thailand, a Buddhists shrine,wreathed in flowers, payshomage to the spirits that Thaisbelieve took care of the landprior to the Plant’s arrival.

BUILD RELATIONSHIPS

Set of constituents – a group of people or

something

Local ties – ex: Ecotourism

Emerging market – is a country making an effort

to change and improve its economy with the goal

of raising its performance to that of the

world’s more advanced nations.

*Employ locals to gain cultural knowledge.

*Help employees understand you.

-acculturation

Ex. Corporatization

Adapt products and processes to local markets

Global products

Regional products

Purely local products

Market-by-market basis

Coordinate by region

Regular periodic meetings

Cross pollination

Joint endeavors

Reported by: RivermayaMKG801

Members:

• Garcia, Genesis Grace A.

• Macalintal, Rachel Anne G.

• Rivera, Bernadette M.

• Gudaca, Cherry mie

• Lopez, Cristina