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Marketing Decisions Table of Contents Table of Contents 2 Marketing Decisions, Demographics & Culture Diversity 3 Environmental, Social Responsibility, Ethics, Legal Obligation & Marketing Decisions 4 Politics, Foreign Corrupt Practices Act & Market Decision Making 6 Technology & Marketing decisions 6 Globalization, Marketing Decisions & Trade Policy Globalization has had a significant impact on the international markets…
Most of the countries have relaxed their trade policies and removed the trade barriers (SmallBiz Connect, 2013). This has resulted in the establishment of various free trade agreements among different countries and led to the creation of the World Trade Organization (WTO) and GATT (General Agreement on Tariff and Trade). GATT is a worldwide agreement and helps in facilitating free trade between the member countries by restricting the trade barriers like import duties, subsidies and tariff protection (Barrett, Donaldson, Kiwiets, & Pearson, 2009). The main objective of WTO would be to implement these policies and agreement. Implementation of these policies has led to the betterment of the consumers and allows the price of the commodities to be set as per the actual supply and demand. Free trade practices are essential for the developing economies as it helps in production of commodities at a lower cost than the developed countries and the revenue generated from the exports permits their economy to grow rapidly (SmallBiz Connect, 2013).The developed economy can have access to technical expertise and technology from the developed countries which help in improving their production process (SmallBiz Connect, 2013). ...
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