Book Description
This paperback, two-color book draws readers into the excitement, challenges, and controversies of global marketing. Each chapter features vignettes and discussion cases featuring high-profile, real-world companies and products; examples from the trade press to illustrate key terms and issues; topical and timely boxed features; and concise summaries of the latest research findings published in scholarly journals.
A five-part organization provides an introduction to global marketing, looks at the global marketing environment, discusses global strategy, explains the global marketing mix, and concludes with the efforts of managing the global market.
For anyone involved in international marketing, and those seeking the kinds of strategies needed to enter the global marketplace.
Customer Reviews:
Great BooK!.......2007-07-18
This was a text used in class, and while the teacher did mostly lecturing without the text, it was a great resource-easy to understand, and highly applicable. THe text does a great job of really explaining the material in a clear and concise manner.
Book Description
Learn to successfully engage in and conduct international business transactions with INTERNATIONAL BUSINESS LAW! With a focus on transactional business, this business law text provides you with numerous practical tips and applications that will help you succeed in this course and in your career. Studying is made easy with tools such as qualitative and applied problems, internet exercises, excerpted cases, and frequently used forms and documents found throughout the text. With its comparative perspective, this business text also prepares you to do business with other countries by teaching you about business law in other nations and how they differ from U.S. laws.
Book Description
"Essential reading for anyone concerned with importing and exporting."
—International Small Business Journal
Build your import /export business faster, stronger, and more profitably
Give your budding import/export business a big boost and keep it going strong with expert advice and proven solutions from one of the foremost authorities in the field. In Building an Import/Export Business, Third Edition, renowned entrepreneur, international trade consultant, and lecturer Kenneth Weiss brings you completely up-to-date guidance on every aspect of conceiving, launching, and operating a successful import/export business.
This easy-to-follow, step-by-step guide is packed with the very latest information on government regulations, tax laws, customs requirements, and shipping procedures. What's more, it features proven strategies for using the Internet to reduce costs, gain a marketing edge, establish sales and information resources, and develop a targeted customer base. You'll also learn how to:
- Choose a winning product line
- Target a profitable market
- Prepare a powerful business plan
- Cope with rising security concerns
- Make foreign currency transactions with confidence
- Take advantage of GATT, WTO, NAFTA, and other trade pacts
Customer Reviews:
Very good book.......2006-10-03
Excellent book. Well organized, and well written. Lots of pointers to other resources as well. Some web links are broken.
A good book to understand what everybody else is doing.......2006-10-01
Well, where do I start? This book is useful to understand what every small time operator is doing in this business. You don't want to follow the crowd so I suggest you purchase this book and John Weiley Spiers Book "How Small Business Trades Worldwide". If you follow the techniques outlined by Weiss you're wasting your time, taking on too much risk, and making very little profits. I'm not saying you can't do it, for example, using trade bulletins to find buyers but so is everybody else! This is not an easy business if you do it this way. No real mention of the internet is made to make it useful nor does he focus too much on the marketing aspects which is the most important. Again, there are ways, and very few of them, to make some big profits. In a strange way, I am recommending this book so you understand what everybody else is doing to get into this business, and hopefully you don't follow. If someone is starting off in their own business, I highly recommend you start out as a Manufacturers representative and branch out as an importer/exporter as part of the overall business. [...]
Baby steps.......2006-04-11
This book is fine for the very early entrepreneur. There is an entire chapter on choosing between forms of organization, buying office supplies and creating a logo. It's a good birds-eye-view of the import/export process, however, if you are a professional seeking insights and business solutions, you will not find many new ideas here.
Great Technical manual on how to do Import/Export.......2005-07-26
Found this one to be well done, but a little more technical than I prefer. This book does include just about every bit of info you will need, from forms to products to making the right overseas and domestic connections. Also look at Import/Export: How to Get Started in International Trade.
A great primer...and that's about it: a primer.......2005-06-16
This book is a good way to start learning about international trade. The information you read in this book will help you throughout your venture. Keep in mind, however, that this book is only a beginer's book. You will need to aquire a lot more knowledge before you will be ready to dive into the international trade pool.
Book Description
The Travels of a T-Shirt in the Global Economy takes the reader on a fascinating, around-the-world journey to reveal the economic and political lessons from the life story of a simple t-shirt. Over five years, business professor Pietra Rivoli traveled from a Texas cotton field to a Chinese factory to a used clothing market in Africa, to investigate compelling questions about the politics, economics, ethics, and history of modern business and globalization. Using the story of the t-shirt to illustrate the major issues of the globalization debate, this uniquely entertaining business book offers a surprising, enlightening, and balanced look at one of the major topics of our time.
Prize or Award
- Business Book of the Year 2005, Finalist
- AAP Awards for Excellence in Professional and Scholarly Publishing, 2006
Customer Reviews:
Great Read.......2007-09-24
The book is a good read, since I am taking my international trade class, this is actually one of the require reading. If someone who is very liberal, or cuddle to grave type of mentality, this book does not offer the cuddly senstivitive that the faint hearted people are looking for. But it is quite realistic. If you can look pass the sweatshops and all, this is a good read.
Good, but light-weighted.......2007-09-11
The book is an advocate of free market and a defender of the globalization. Basically the author portraits non-market forces to be bad (examples: artificial constraint on the labor worker's mobility, international trading protection, and restriction of new technology applications). She also proposes that free trade is good (example: used apparels in Africa). It is an interesting angle with which to examine the globalization phenomena. By recognizing that there are non-market forces at play, one should, or so the author seems to suggest, attribute negative effects (such as sweatshops) to these forces and work on eradicating such forces. The ideal situation would be, as author implies, an absolutely free market operating in bringing everyone maximum benefit.
While there may be novelty in this theme, I do not feel that it merits all the details and tidbits as presented in the book. In fact, I find this book more like a research log than a final product. The stories and observations are definitely interesting and well-written. However it is not always clear where they lead to and what conclusion they are designed to support. I think the book can be reduced to 1/3 of its volume and still be able to make the same points.
On the other hand, many conclusions are not well supported. For example, about trade restrictions, the author argues that US quota systems impact how capital and labor flows in the world, and shape the economy of other countries. While it is obvious that all US trading partners would behave under the influence of US trading policies, more quantitative evidences are required to ascertain the extend of such influence. Such details are lacking in the book. As another example, the book stated that China lost more textile jobs than the US. Therefore, the US jobs are not going to China, but are just disappearing due to technology advances. Such claim is not well-supported, either. These two forces (technological advances and job relocations) can both contribute to the job loss. Their relative importance in the US cannot be indicated by how much textile jobs are lost in China. (In addition, the book does not point out that most Chinese factories operate at a lower technological level than their US competitors. Therefore, the job loss rate due to technological advance is not the same in US and China.)
On a more grand scale, the book fails to address the following issue, which is very relevant to the topics at hand. Globalization in essence is a process of integrating many previously local markets into a unified global market. Previously, each market has different states of balance and is supported by different Government infrastructure. After integration, capital, labor and product flow to maximize profit for the capitalists. Such flow disrupts all local balances before a global balance is reached. For example, the labor cost in the US today is reasonably high because most people have the choice of working as blue collar or white collar workers. Some people are willing to work for lower wage to avoid the extra training and investment required for white collar jobs. However the difference in wages cannot be too large. In China, on the other hand, the pool of unskilled labor is huge and opportunity of getting trained and advancing into white collar jobs is very limited. Therefore, the unskilled labor cost is very low in China. Moreover, the tradition and culture in China allows for lower safety standards and environmental standards as imposed by the Government. Now the current state of balance in the US is the result of adjustments over generations and is relatively optimal. In a global market, however, the US cannot keep its balance until the whole world reaches the same balance. In the long run, such re-balancing is not a big problem and is even desirable. However, in the short run, it brings shock to the US markets, and such shock is unevenly bore by the arguably most vulnerable population: the workers. To me, this is a very important issue in globalization. Economically, globalization is win-win and everyone eventually will benefit. Humanitarianly, however, there are people who suffer in the process and it is the duty of the society to help them and (God forbid) protect them.
Overall, I'd say that this is a very interesting and thought provoking book. I enjoyed reading it at my leisure. However, I don't consider it to be of the caliber of an Economics textbook.
Can you understand global economics?.......2007-07-05
It's all about the money, someone said. This wonderful book starts with the growing of cotton subsidized by the US government, the spinning and weaving in China, the T-shirt making in Bangla Desh or wherever, its wear in the United States, and its ultimnate fate as second-hand clothing in West Africa, the only free market found by the author.
A simple and elegant account of interconnected global economics, of who gets value, who adds value, and who gets the money. Fun to read.
Doesn't take sides; just informs........2007-05-14
An intelligent, fair minded, well-researched, and very interesting book. I was assigned to read it for a class, so I had to force myself to open it, but once I did, I had a hard time putting it down. The book is not only informative, it also reads like a good story. The author is an economics professor whose writing style is friendly and accessible. Rather than being yet another abstract book about the global economy, it's about how everyday people function in, and are affected by, the global economy. The book doesn't take sides, it just informs the reader about something that affects us all.
Good, casual read offering good perspective.......2007-01-15
This book takes a pretty balanced approach to questions of globalization by tracing how a T-shirt is produced, from raw materials to the folded T-shirt in a department store, to the used T-shirts that are reprocessed or go to developing countries for a second life. Probably everyone can learn something from this book, and the narration is fairly engaging (it was good plane reading for me). The writer tries to keep the book agenda-free, putting forth both economists' and anti-globalizers' perspectives and describing how, to a certain degree, an effective global economy needs pushes from both camps.
Book Description
Compiled by the United States Customs Service, this book is an essential source of information for anyone importing goods--commercial or personal property--into the United States. Topics covered in depth include:
- How the customs service works at ports of entry
- The entry process--and how to guarantee that your goals will pass entry examination
- How to prepare error-free invoices
- How to calculate duty payable and qualify for refunds of duty
- How transaction values are assessed and how currency conversion works
- Regulations on marking imported goods
- Understanding prohibitions, import restrictions, and quotas
- Laws governing civil and criminal fraud
In addition, an extensive appendix provides sample customs forms, certificates, and invoices, along with relevant excerpts from statutes governing importing into the United States. Complete, up-to-date, and easy to use, this book provides all the information needed to import efficiently and profitably into the United States.
Customer Reviews:
Good Reference.......2007-04-20
This is not the most interesting read in the world, but it contains good information. If you have an import business, this is a must have for your reference library.
A Basic Guide to Importing.......2006-01-31
This is like the dictionary not good reading but a must have when you need to look up a word. Only a fraction of the material will be about your specific situation or product. Most if not all this info is available at the customs service website but is good to have it in one place.
Just got to customs website.......2005-01-09
All of the information in this book is available through the US customs website. Don't waste your money.
Not at all written in a user friedly manner either, just lists all sorts of rules.
A little vague, but it's a MUST HAVE.......2002-07-08
It is not a user-friendly book, but it supplies a lot of guidelines fot the beginning importer. I recommend you to buy it, but supplement it with specific info on the article(s) you intend to import (food, clothing, machinery, etc.).
A must-have reference book for international trade........2001-07-07
Wow! What a useful book it is! It is an essential reference that provides concise, accurate, and informative expertise especially on importing. If you are looking for a reliable resource about importing regulations and entry procedures, this is the one that you should consider!!!
Book Description
A thoroughly updated new edition of the premier guide to international trade now features a special section on the e-commerce revolution. Dr. Carl Nelson’s acclaimed resource for beginners venturing into the import/export business is more timely and action-oriented than ever in this fully revised Third Edition. Showcasing an indispensable new chapter on the ins and outs of e-commerce and how to take advantage of all of cyberspace’s exciting possibilities, Import/Export also features a range of new material and guidance. Nelson’s practical, easy-to-follow approach covers all the basics, including choosing a product, making contacts, and cutting through government red tape. Carl E. Nelson (Chula Vista, CA) is the author of Global Success: International Business Tactics for the 1990s and Managing Globally: A Complete Guide to Competing Worldwide.
Customer Reviews:
Great book.......2007-06-21
I have bought and read the book. And I can say that this book provides great insights to the reader. I recommend it to everybody who wants to gen involved in international business.
A Good Starting Point.......2007-04-20
I ordered this book knowing absolutely nothing about import/export. This book is great for novices. It does a fine job explaining the many facets of import and export. However, before attempting to start your own import/export business, you will need to do a lot more research. This book attempts to cover a great deal of info in just a few pages. Nelson's book is a great place to start your quest for import/export knowledge.
eeehhh!.......2006-12-22
It has alot of info and facts. But doesn't help you make any decisions. Read: "The Maui CEO" by John Tennant instead.
Good starter book.......2006-11-10
This is a very good starter book for anyone who is thinking about international trade.
Save your money and time.......2006-10-01
This book is a bit dated. There is no use for this book if you want to get into this business on a serious basis. Poor style, poor grammar and very poor content. The author devoted 75 pages on trade agreements such as NAFTA and the EU. You don't need to know the technical details of these agreements. You need to sell, sell and sell. This book is very bad. If you want a primer on the ins and outs buy get Exporting, Importing and Beyond. After that, buy Building an Import/Export Business by Weiss (this book gives you techniques that are absolutely useless but it is important to know this...so you don't do what he advises). You can round it off by buying How Small Business Trades Worldwide by John Wiley Spiers who gives a no-nonesense approach. Back to this book. Carl Nelson really needs to update this book to include E-bay and recommend Frontpage or Dreamweaver to create a Website instead of saying it is "easy" to use HTML. In this business, a website isn't necessary but it may be a good idea to have one if you want to market directly to consumers. Also, consider getting into this business by starting off as a Manufacturers representative (consider William H. Krause book on How to Get Started as a Manufacturer Representative) This book was plain AWFUL.
Book Description
This book's dynamic portrayal of international business (cross-functional and integrated in approach) makes its content lively, topical, and enjoyable. It includes examples of companies from around the world in order to provide an unbiased, global perspective on business. Clear, straightforward explanations of challenging material are supported by informative illustrations that give readers easy access to this subject. Chapter topics include culture in business, politics and law in business, business in other economies, international trade, foreign direct investment, international financial markets and monetary system, acquiring business resources, and managing the international business. For anyone who wants to understand international business—and fully appreciate how business is conducted today.
Customer Reviews:
So, True.......2006-10-26
In the last couple of years several books have been published focusing on the huge, largely untapped, and unfocused upon, regional/local markets of people in LDC nations. Focusing on the needs, preferences, and wants of the people in these markets pave the way for mutual benefits and stronger symbiotic relationships. Authors Vijay Mahajan and Kimini Banga continue this relevant discourse with "The 86 Percent Solution." Their focus on the 'local and regional' instead of a national market is important for knowledge and understanding. Instead of focusing on national borders, businesspeople are focusing on Shanghai, Mumbai, town X, or city Y, or region Z. Not the "Indian Market, Chinese Market," or "Russian market." The crux likes back to this fact: eighty-six percent of the people on planet Earth earn less than $10,000 USD per year.
Many points in this book are common sense. If you're doing business in an area, then of course you have to learn about local area, and a neighborhood's conditions, wants, and needs. There is focus on marketing here, which seems to mean: dump products down people's throats and profit from it at the same time. (I understand the necessity for mutual benefits.) But at times this book sounds like "How to do business in LDC regions for dummies." To be fair, the information in this book is needed by many that come to foreign countries with very little insight into "how things really work" at the local and cultural level. This includes not only market needs, but how to behave, be culturally sensitive, and understand local, cultural etiquette. I frequently witness first-hand MBA grads and experienced western business people come to a foreign country with immense business, product knowledge, and marketing expertise. And they fall flat on their faces because they didn't have the proper information, training, and exposure to culturally deal with the local people. Oft-times these people didn't consider this knowledge or awareness to be important.
With globalization and increasing WTO-country membership, this book and others will be increasingly important to those doing business overseas and having business relationships with customers, employees, fellow managers, and even strangers. Cultural awareness is often equally just as important as "business knowledge." Sometimes, it's more important.
A note by the authors on English as the International Language:
The authors claim that English may not be the International Business Language in the future. This assertion is completely false and without merit. The authors state that "If you want to work with 86 percent of the world, you need to speak the languages of the 86 percent."
Yes, business people need to learn foreign languages. True, it's important for foreigners to study and attempt to learn the local language of a region if they are going to do business and/or live somewhere for a period of time. It leads to more cultural understanding and less instances of mis-communication. But the demand for English is skyrocketing in China and many other countries of the world. The demand for learning other non-English languages will increase - but the demand to learn and use English will not decrease. It will continue to grow, and much faster than other languages.
The contention that students and future business people from all over the world will learn Mandarin, Arabic, and Hindi because the *number* of people who speak these languages is greater, is oversimplified and unrealistic.
Just ask the Chinese: "Do you want foreigners to learn Mandarin?" Or, is it better for Chinese people to learn English?
The Chinese want to learn English. They also benefit tremendously from foreigners *not* learning Chinese. Ask a Vietnamese, Russian, Korean, Japanese, American, or German if they want to spend over 7+ years studying intensive Mandarin?
Chinese and Arabic speakers who learn English can communicate and do business all over the world in all continents. Mandarin speakers can do business only in certain parts of China. Big difference.
Non-native English speakers currently outnumber native English speaker by 4 to 1, and this gap is increasing.
Kudos to Mahajan and Banga for this book and their work in this field, which is finally getting more attention. Attention that is just, and far over due.
A related point:
The recent Nobel Prize awarded to Mohammed Yunus and his Grameen Bank for his micro-loans provided directly to poor people living in rural areas who are otherwise considered "not bankable." Most banks focus on large public projects and require collateral and credit. These large projects often involve corruption and embezzlement. The percentage of borrowers who repay their loans under Yunus's micro-lending program is very high. It works.
This is an informative and helpful book.
Tactical/Neighborhood Implementation for Ethical Profit from the Poor.......2006-03-16
This book is best appreciated if you have first read C.K. Prahalad's "The Fortune at the Bottom of the Pyramid," William Grieder's "The Soul of Capitalism," and Stuart Hart's "Capitalism at the Crossroads." It is a tactical or foreign neighborhood (both in the Third World and in the immigrant sections of the First World) implementation manual for profiting from sales to the poor.
It makes many obvious points as well as many not so obvious points, and I will not list them here. This is a book that requires patience and careful reading. The author has brought forward a great deal of detail in a very easy to read way.
I will end with thought that the Wharton School's publishing arm has really catalyzed for me with these varied book. The five billion at the bottom of the pyramid are the last remaining super-power on this planet. The good news is that we can profit from enriching them. The bad news is that we still have morons in power that think we can keep them down by using guns. Newsflash: there are not enough guns on the planet to keep the five billion and their off-spring from over-running us. Capitalism, and the rapid nurturing of indigenous self-sustaining wealth that includes the rapid education of women (which leads to saner men, less disease, limited growth) is our only salvation.
This book is one of a handful that could be said to be truly revolutionary in terms of transforming the planet from one beset by poverty, to one inspired by entrepreneurship at the neighborhood level.
Very unique look into the biggest market for years to come........2006-01-17
The 86 Percent Solution : How to Succeed in the Biggest Market Opportunity of the Next 50 Years (Hardcover)
by Vijay Mahajan, Kamini Banga
ISBN: 0131489070
The authors provide a very unique look into the biggest market for years to come.
The book The 86 Percent Solution provides rich insights into the emerging markets where per capita incomes of individuals is as low as $300 but still provide tremendous scope for growth.
Developing markets offer the greatest potential for gains unheard of in the developed markets. To venture into these markets companies will have to (un)learn all that worked elsewhere. The things that worked in developed economies and the basic presumptions made will not work in most developing nations of today. The concept of consumer is king is a myth in these places, where in fact a consumer is a person with limited purchasing power, bargaining power and storage capacity.
What works for marketing Fast Moving Consumer Goods won't work for Consumer Durables or for Services. Even though developing markets seem risky as there is little or no credit risk monitoring at the dealer level besides the usual problems of lack of infrastructure there will always be a first mover advantage for companies willing to invest in infrastructure.
Products like water filtration systems for individual homes will find a ready market where potable drinking water is unheard of. In the rural markets even with the sweltering heat it is difficult to sell an air conditioner where uninterrupted power supply is neither available nor expected.
To sell in these markets region specific plans rather then country specific ones will need to be formulated and implemented, due to the fragmented nature of the markets having their own special needs.
Through various example the authors explain all that works and doesn't work and why.
This book is a must read for all those who wish to tap this market and also all those who always wondered why all their wining strategies which worked so well for them for so many years everywhere else, just don't work in these markets.
The coauthor Vijay Mahajan is a former dean of the Indian School of Business and holds the John P. Harbin Centennial Chair in Business at McCombs School of Business, University of Texas at Austin.
The coauthor Kamini Banga is an independent marketing consultant and managing director of Dimensions Consultancy Pvt. Ltd.
Expert Guidance to Almost Unlimited Opportunities.......2006-01-05
With regard to the meaning and significance of the title, Mahajan and Banga explain that 86% of the world has a per capita gross national product (GNP) of less than $10,000 per year. So what? Not only do those markets represent the future of global commerce; "they also present rich opportunities for companies that have the imagination and creativity to envision [consumers within those markets]. But you won't recognize these opportunities through the lens of the developed world. You won't reach these consumers through the market strategies that work in the 14 percent markets. Developing markets have no smooth superhighways, no established consumer markets, no distribution networks, and, in many cases, no electricity. Developing markets are younger, behind in technology (but rapidly catching up), and inexperienced as consumers. These markets are very different. Yet with creative solutions tailored to their distinctive characteristics, ...you can realize the rich opportunities of these 86 percent markets."
Mahajan and Banga have carefully organized their material within eleven chapters which range from a rigorous analysis of "the lands of opportunity" to a "Conclusion" in which they explain why the markets in underdeveloping countries "not to be missed." More specifically, they discuss what they describe as a "complex tapestry" of convergent civilizations in which there really do seem to be almost unlimited opportunities to increase both the standard of living and quality of life for hundreds of millions of consumers. The challenge for those companies which attempt to market various goods and services in those markets is to understand their unique characteristics. To me, it seems at east as important to understand what they are not as it is to understand what they are...or can (and will) become.
Here are two brief excerpts and then a checklist which, I hope, indicate the scope and depth of Mahajan and Banga's analysis.
"There is no Chinese market. There is a market in Shanghai, or in a neighborhood in Shanghai. There is no Indian market. There is a market in Mumbai or Chennai, or in their local neighborhoods. Developing countries are a collection of fragmented local markets in a country that is gathered loosely under a single flag." (Page 77)
"Think English is the language to know for business? Maybe not for long. Consider that Mandarin Chinese has the largest number of speakers in the world -- a billion, including second-language speakers. This is followed by English, with about half as many speakers, and then Spanish, Hindi, Arabic, Bengali, and Russian. If you want to work with 86 percent of the world, you need to speak the languages of the 86 percent." (page 83)
Which strategies will be most effective when "taking the market to the people"? Mahajan and Banga suggest seven:
1. Position for the paanwalla (i.e. small shop)
2. Create multiple levels of distribution (e.g. Hindustan Lever's "Project Shakti" based a direct-to-home model involving self-help groups, each comprised of 10-15 underprivileged women)
3. Use distribution bubbles (i.e. carnivals, market days, and vans which come and go) to find customers where they are
4. Take the bank out of the branch (e.g. Citibank's use of vans and a network of 9,000 direct-selling agents, called "Citi Friends," who visit homes)
5. Develop on-the-ground insights (i.e. understand and adapt to local aND even neighborhood regulations and conditions)
6. Create distribution systems from scratch (e.g. a new distribution system, based on grassroots networks, which built a supply chain for a camel's milk dairy in Mauritania)
7. Use existing networks creatively (e.g. the "dabbawala system" in Mumbai, India, probably the world's most efficient lunch delivery system which collects 175,000 home-cooked meals from workers' homes and delivers them to their offices)
Thoughtfully, Mahajan and Banga provide a section at the end of each of the first ten chapters, "The 86 Percent Solution," which summarizes key points and facilitates subsequent review of them. Before concluding their brilliant book, Mahajan and Banga share these thoughts when explaining why numbers are on the side of the developing world: Population Equals Profits. "The transformation is just beginning. There will be hiccups along the way and further surprises over the next two decades as the next `Chinas' and `Indias' emerge. The only certainty is the the 86 percent markets are here to stay. These markets are young and growing. Even though they won't become developed tomorrow,,, they are the future. And the companies that can develop the right solutions to meet their needs will find a rich source of growth."
Who will derive the greatest benefit from Mahajan and Banga's book? In my opinion, they are decision makers in two different categories of companies: Those which now market or are about to market in underdeveloping countries, and, other companies which now do business with -- or plan to do business with -- those in the first category. I also think this book will be of substantial interest and value to public officials who are now actively involved with helping to support global commerce.
Congratulations to Mahajan and Banga on a brilliant achievement!
The markets are there, but the rules are vastly different..........2005-12-16
Business is obviously always on the lookout for growth opportunities. In the book The 86% Solution - How To Succeed In the Biggest Market Opportunity of the 21st Century by Vijay Mahajan and Kamini Banga, the argument is made (and quite effectively) that the largest new markets are in the developing countries... 86% of the world. However, the rules are significantly different in those markets...
Contents: The Lands of Opportunity; Don't Build a Car When You Need a Bullock Cart; Aim for the Ricochet Economy; Connect Brands to the Market; Think Young; Grow Big by Thinking Small; Bring Your Own Infrastructure; Look for the Leapfrog; Take the Market to the People; Develop with the Market; An Opportunity Not to Be Missed; Index
Many companies that have tried to move into these developing countries did so by following the same rules that worked in the richest 14% of the world. They more often than not failed miserably. The economies are different, the purchasing power is different, and the market plays by different rules based on culture. The authors do an excellent job in showing how a different approach to these markets are necessary in order to succeed. For instance, in "Grow Big by Thinking Small", they explain that developing country consumers are using to buying what they need when they need it, and only the amount they immediately need. They often don't have either the space to store bulk quantities nor the extra income to stockpile. Trying to sell laundry detergent for 100 loads will fail. Selling enough soap for one load for a few pennies will work. The margins are thin, but the volume is huge. Your company needs to figure out how to make it all work. In "Take the Market to the People", you'll learn that the concept of going to the nearest Wal-Mart is completely unknown. Your "store" may be a stall at a weekly market bazaar or a person cycling your wares from village to village. You better understand that and package/price accordingly. And what do you do when you're marketing electrical items in a country where power is normally unavailable for hours each day? That's your new reality...
For any business or entrepreneur looking to tap into the vastly underserved global markets, this book is required reading. Even if you're just moderately interested in business and markets, the information here is fascinating. What we consider normal, really isn't...
Book Description
In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in which the classical theories originated. Gomory and Baumol show that the new and significant conflicts resulting from international trade are inherent in modern economies.
Today improvement in one country's productive capabilities is often attainable only at the expense of another country's general welfare. The authors describe why and when this is so and why, in a modern free-trade environment, a country might have a vital stake in the competitive strength of its industries.
Customer Reviews:
Interesting Discussion but poor Presentation.......2004-02-23
The first thing that struck me was the large number of typo's.
Starting with page 4: "when we does development abroad help"
and on through the rest of the book. Also, the graphics appear
crude.
In part 1, I could not find any reference to the fact that
"free" trade does not exist in the real world. Countries use
tariffs, taxes, subsidies, etc. to further their own interests.
Understanding International Trade.......2001-04-09
A must read book for anyone with an interest in International Trade. Gomory and Baumol take an insightful look into trade in this era of multinational companies, expanded trade and developing countries. They develop a technique to determine whether a trade decision is mutually beneficial (or detrimental) to the parties. While no "magic" formula to precisely determine the benefits of an individual trade decision, at least there is a cogent framework to start from.
As a lay reader it was apparent that to assure our continued growth and successes that we must continually innovate to create the next big retainable industry as well as continue productivity gains to compete with low wage developing countries in easy to enter industries where we have a major interest.
An exceptionally thorough analysis of today's world of trade.
Trade For Dummies.......2001-04-03
Don't be put off by the title. This book should be called "Trade for Dummies." The authors kindly start where most of us left off in Econ 101 - with comparative advantage. We all remember that nature endowed England with a comparative advantage in wool, and Portugal in wine, so that this trade was an obviously good thing.
But what about today's vastly more complex economy where considerations go far beyond the mere geography of natural resource distribution? What about the role of industrialization? Or technology? Or information? Who has what advantage? And how to measure it? The authors have solved this seemingly daunting task, and present their conclusions in a few simple graphs that could fit easily onto Mr. Laffer's napkin.
How do I know that they solved the problem of reducing all the complexities of international trade to a few simple graphs? Well, I really don't know because I am not enough of an economist or mathematician to follow the technical stuff, but the authors very kindly put all that in the second half of this slim volume as kind of an appendix for the professionals. That the two authors are a leading economist and a leading mathematician is obvious from the brief biographies. And that the work passes professional muster is obvious from the blurbs. So while I can't personally check the authors' assumptions and methodology, I can accept and fully understand their conclusions as set forth in the first half of the book - the only part I read.
Not surprisingly, the graphs show that most international trade is indeed mutually beneficial. But not all. The graphs also reveal what the authors call a zone of conflict. It is to this area that attention needs to be paid. What attention do the authors suggest? Well, they are a little coy. I suspect that at this stage they are just trying to get acceptance for their framework of analysis. Anyone questioning any aspect of unrestricted free trade today is subject to being labeled a protectionist, which is only one step above racist, so the authors understandably tread very carefully.
A splendid and provocative little book dealing with a very big subject.
Gripping Eye Opener.......2001-04-03
These 73 pages kept this layman engrossed and enlightened. You learn why World Peace through World Trade ain't necessarily so, but can be a win-win situation for nations who understand the theory of the Global Trade game.
In cogent and concise language,the two gifted authors upset the notion that a dollar of National Trading Income is indifferent to what is being traded. National Trading Income from a "retainable" industry like computer chips produce strategic strengths for a nation compared to the same amount of National Trading Income from potato chips.
This new vector on Global Trade alerts business leaders to rearrange intellectually their risk-reward equation to secure a more favorable outcome.
Great stuff!.......2001-02-09
Gomory and Baumol are two heavy-weights from the world of Economics, Industry and Mathematics who have made use of a lifetime's worth of observations to create a new theory of international trade. Their work is truely original, theoretically rigorous, and highly applicable to real-world problems: A powerful combination. As a graduate student in economics, I have found few books so compelling.
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Global Marketing: Foreign Entry, Local Marketing, and Global Management
Johny K. Johansson
Manufacturer: McGraw-Hill/Irwin
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Book Description
GLOBAL MARKETING: Foreign Entry, Local Marketing, and Global Management can be used at the better undergraduate programs where the students have had some exposure to global management or global business or in the MBA curriculum. The subtitle for this text is an important way to remember what makes this book distinct. This text offers a three-pronged approach to Global Marketing. That approach is Foreign Entry, Local Marketing, and Global Management and this represents the structure for the text. Johansson addresses how you market an existing product in new global markets and also discusses how a company develops a new product for a global market. This discussion takes into consideration the culture and needs of those customers. Most International Marketing books have a separate chapter for each of the environments (legal and regulatory, political, Business Customs, etc) and then they launch into a discussion of marketing management for global markets. However, Johansson only has a separate chapter on culture and then he integrates the rest of the environment discussions throughout the text and where appropriate. This too is a distinct feature of the text.
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