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International Business: Competing in the Global Marketplace Fifth Edition
Global Marketing and R&D
Chapter 17
17
Learning objectives
The focus of this chapter is on how marketing and R&D
can be performed so they will reduce the costs of value
creation and add value by better serving customer needs.

Review the debate on the
globalization of markets - are
all customers the same? Or are
there distinct and significant
differences?

Show how some market
segments transcend national
borders, while in other
situations the structure of
market segments differs
significantly across countries.

Better understand the factors
that cause firms to alter the
marketing mix across countries.

Discuss issues related to the
location of R&D facilities and
linking marketing and R&D in
new product development
A global marketing strategy that views the world’s
consumers as similar in their tastes and preferences is
consistent with the mass production of a standardized
output. By mass-producing a standardized output, the firm
can realize substantial unit cost reductions from
experience curve and other scale economies. But ignoring
country differences in consumer tastes and preferences can
lead to failure. Thus, an international business’s marketing
function needs to determine when product standardization
is appropriate and when it is not, and to adjust the
marketing strategy accordingly.
Similarly, the firm’s R&D function needs to develop
globally standardized products when appropriate as well
as products that are customized to local requirements.
Marketing and R&D are dealt with in the same chapter
because of their close relationship. A critical aspect of the
marketing function is identifying gaps in the market so
that new products can be developed to fill those gaps.
Developing new products requires R&D; thus, the linkage
between marketing and R&D. Marketing dictates to R&D
whether to produce globally standardized or locally
customized products.
.
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Web Source
Chapter 17
http://www.chinadaily.com.cn/english/doc/2004-04/13/content_322876.htm
http://www.ebusinessforum.com/index.asp?doc_id=7018&layout=rich_story
http://www.softtek.com/USA/html/localization.htm
OUTLINE OF CHAPTER 17: GLOBAL MARKETING AND R&D
Opening Case: Marketing Coca-Cola in China
The Globalization of Markets and Brands
Market Segmentation
Product Attributes
Cultural Differences/ Economic Development/ Product and Technical
Standards
Distribution Strategy
A Typical Distribution System/ Differences between Countries/ Choosing
a Distribution Strategy
Communication Strategy
Barriers to International Communication/ Push versus Pull Strategies/
Global Advertising
Pricing Strategy
Price Discrimination/ Strategic Pricing/ Regulatory Influences on Prices
Configuring the Marketing Mix
New-Product Development
The Location of R&D/ Integrating R&D, Marketing, and Production/
Cross-Functional Teams/ Implications for the International Business
Chapter Summary
Critical Discussion Questions
Closing Case: Procter & Gamble in Japan
TEACHING SUGGESTIONS
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Have students read the passage from Levitt (or read it aloud), and then ask for comments
and critique can get a good discussion going. The general view is usually that while
Levitt overstates the case, he does identify a clear trend.
TRANSITION
Have students give examples of truly global products, products that have become global
recently, as well as those that will likely continue to be quite different in different
countries also stimulates discussion. You can use some of the teaching suggestions from
chapter 1 as well to transition into the case.
LECTURE OUTLINE FOR CHAPTER
Slide 17-2 Opening case
China is a major market for Coca-Cola. Coca-Cola’s goals call for China to become
the company’s largest overseas market within a decade, and quite possibly the largest
market in the world, surpassing consumption in the United States. With a population
four times the size of the United States, that goal seems attainable even if the Chinese
do not consume as much on a per capita basis as Americans.
In order to reach this goal, Coca-Cola embarked on an aggressive marketing
campaign. In the battle to grow volume, Coke’s main weapon is market information.
As recently as the mid 1990s the company had little knowledge of who was drinking
its product and where. Trucks would line up outside bottlers to collect products, but
after that Coke didn’t know where they ended up. During the past few years Coke has
been trying to map every supermarket, restaurant, small store, or market stall where a
can of soda might be consumed.
Transportation costs are high as most plants were situated in the big cities. This also
meant that Coke is most expensive in those parts of China were people are poorest.
To bring the price down, Coke has started to open bottling plants in the hinterland,
close to rural customers, and it is using recyclable bottles.
Slide 17-3 The globalization of markets and brands
Modern transportation and communications technologies, such as MTV, are facilitating a
convergence of the tastes and preferences of consumers in the more advanced countries
of the world. The popularity of sushi in Los Angeles, hamburgers in Tokyo, hip-hop
music, and global media phenomena such as Pokémon, all support this. In the long run,
such technological forces may lead to the evolution of a global culture.
At present however, the continuing persistence of cultural and economic differences
between nations acts as a major brake on any trend toward global consumer tastes and
preferences. Trade barriers and differences in product and technical standards also
constrain a firm’s ability to sell a standardized product to a global market using a
standardized marketing strategy.
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Globalization seems to be the exception rather than the rule in many consumer goods
markets and industrial markets especially in many basic industrial products, such as steel,
bulk chemicals, and semiconductor chips.
Firms may need to vary marketing mix in each different country. Even firms such as
McDonald’s, an archetypal example of a consumer products firm that sells a standardized
product worldwide, modifies its menu from country to country in light of local consumer
preferences
Slide 17-4 Market segmentation
Market segmentation refers to identifying distinct groups of consumers whose
purchasing behavior differs from others in important ways. Firms must adjust their
marketing mix from segment to segment. These Segments can be based on:
Geography, Demography, Socio-cultural factors and Psychological factors
Slide 17-5 Market segmentation
In international business, segmentation needs to consider two issues, the existence of
segments that transcend national borders and understand differences across countries in
the structure of segments.
For a segment to transcend national borders, consumers in that segment must have some
compelling similarities that lead to similarities in purchasing behavior.
Where such similarities do not exist, there must be some customization if the firm is to
maximize performance in the market. This customization may be in the product, the
packaging, or simply the way in which the product is marketed.
Global market segments are much likely to exist in industrial products (e.g., memory
chips, chemical products, corporate bonds) than in consumer products
Slide 17-6 Product attributes
A product can be viewed as a bundle of attributes. Different customers value different
attributes, and value the same attributes differently. A US soccer mom may value her
automobile for its ease of use, but her Latin American counterpart may value its
durability.
Slide 17-7 Cultural differences,
Product attributes have to be varied from country to country to account for differences in
consumer tastes and preferences. In classes with “foreign” students, it is sometimes
useful to ask them what products they have found to be different in their home country
from the country they are studying - what products that they thought would be the same
did they find to be different. Sometimes they report even the same brand to be notably
different. On occasion this has led into a nice discussion of why these differences exist.
Today some cultural differences in tastes seem to be converging. Example MTV.
Slide 17-8 Economic development,
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Consumer behavior is influenced by economic development. Consumers in highly
developed countries tend to demand extra performance attributes in their products. Price
not a factor due to high income level.
Consumers in less developed countries, value basic features as more important. Price a
factor due to lower income level. Cars: no air-conditioning, power steering, power
windows, radios and cassette players. Product reliability is more important
Differences in consumer tastes and preferences between countries are a function of
differences in culture and economic development.
Slide 17-9 Product and technical standards
Differences in product and technical standards may require the firm to customize product
attributes from country to country. Within the EU the need to meet differing technical
standards is being reduced - but some of these previous technical standards have shaped
consumer preferences as well. Even in advanced products like cellular phones, the new
“global” GSM standard for digital communication (which allows customers to travel in
many countries and still receive calls) has not been approved in North America.
Government standards can rule out mass production and marketing of a standardized
product.
US tech executives are currently concerned that China has a complicated China only
technical standard for the manufacture of chips which discriminates against foreign chip
makers.
Slide 17-10 Distribution strategy
Distribution strategy is about choosing the best channel to deliver a product to the
consumer. The way the product is delivered is determined by the firm’s entry strategy,
Slide 17-11 A typical distribution system
Figure 17.1 illustrates a typical distribution system.
Slide 17-12 Retail concentration
In countries with concentrated retail systems, a few retailers supply most of the market.
In Germany, for example, 4 retail chains control 65% of the food market. In nearby Italy,
no chain controls more than 2% of the market. Such differences clearly affect how a firm
gets its products to consumers.
Slide 17-13 Channel length, Slide 17-14 Channel length
In some countries channel length is short, whereas in others it is long. And in some
countries’ distribution channels, access may be difficult.
The longer the channel the greater the aggregate mark-up and the higher the price that
consumers are charged for the final product. Despite this, the benefits of using a longer
channel may outweigh the drawbacks, particularly if the retail market is very fragmented.
The benefits of using a longer channel are that longer channels may economize on selling
costs and assist the firm to gain market access.
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Slide 17-15 Channel exclusivity
The degree to which it is difficult for outsiders to access distribution channel varies
between countries. Japan has an exclusive system because personal relations often
decades old play important role in stocking products this made it difficult for new firm to
get shelf space as compared to an old firm
Slide 17-16 Communication strategy
A critical element in the marketing mix is communication strategy; which is the process
of communicating the attributes of a product to prospective customers.
A number of different communications channels are available to a firm. These include
direct selling, sales promotion, direct marketing, and advertising via many different
media.
A firm's communications strategy is partly defined by its choice of channel.
Slide 17-17 Barriers to international communication
The effectiveness of international communication can be hindered by three potentially
critical variables - cultural barriers, source effects, and noise levels.
Slide 17-18 Barriers to international communication
Source effects occur when the receiver of the message (the potential consumer in this
case) evaluates the message based on the status or image of the sender. Source effects can
be damaging for an international business when potential consumers in a target country
have a bias against foreign firms. Many international businesses try to counter negative
source effects by deemphasizing their foreign origins. When British Petroleum acquired
Mobil Oil’s extensive network of U.S. gas stations, it changed its name to BP, diverting
attention away from the fact that one of the biggest operators of gas stations in the United
States is a British firm.
Slide 17-19 Barriers to international communication
Noise refers to the amount of other messages competing for a potential consumer’s
attention, and this too varies across countries. In highly developed countries such as the
United States, noise is extremely high. Fewer firms vie for the attention of prospective
customers in developing countries, and the noise level is lower.
Slide 17-20 Push versus pull strategy, Slide 17-21 Product type and consumer
sophistication, Slide 17-22 Channel length, Slide 17-23 Media availability
The choice in communication strategy is two fold either the push or the pull strategy.
A push strategy emphasizes personal selling rather than mass media advertising in the
promotional mix. Although very effective as a promotional tool, personal selling requires
intensive use of a sales force and is relatively costly.
Push strategies tend to be emphasized more in the following circumstances; 1) for
industrial products and/or complex new products, 2) when distribution channels are short
and 3) when few print or electronic media are available
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A pull strategy depends more on mass media advertising to communicate the marketing
message to potential consumers.
The choice between push and pull strategies depends upon product type and consumer
sophistication, channel length, and media availability.
Pull strategies tend to be emphasized more in the following circumstances; 1) for
consumer goods products, 2) when distribution channels are long and when 3) sufficient
print and electronic media are available to carry the marketing message.
Slide 17-24 Global advertising
There has been much discussion about the pros and cons of standardizing advertising
worldwide. One of the most successful standardized campaigns in history was Philip.
The campaign theme of “Come to where the flavor is. Come to Marlboro country” was a
worldwide success. This ad with “the Marlboro man,” a rugged cowboy smoking his
Marlboro while riding his horse through the great outdoors. proved successful in almost
every major market around the world, and it helped propel Marlboro to the top market
share in the world
The support for global advertising is threefold.
First, it has significant economic advantages. Standardized advertising lowers the costs of
value creation by spreading the fixed costs of developing the advertisements over many
countries.
Second, there is the concern that creative talent is scarce and so one large effort to
develop a campaign will produce better results than 40 or 50 smaller efforts.
Third, many international firms want to project a single brand image to avoid confusion
caused by local campaigns. This is particularly important in regions such as Western
Europe, where travel across borders is almost as common as travel across state lines in
the United States.
Against Standardized Advertising: There are two main arguments against globally
standardized advertising.
First, cultural differences between nations are such that a message that works in one
nation can fail miserably in another. When Coca cola was first sold in China the name
translated to”Bite the wax tadpole” No wonder the Chinese were slow to take to the
product. The firm then changed the way the name was written to translate into
“happiness in the mouth”
Second, advertising regulations may block implementation of standardized advertising.
For example, Kellogg could not use a television commercial it produced in Great Britain
to promote its cornflakes in many other European countries. A reference to the iron and
vitamin content of its cornflakes was not permissible in the Netherlands, where claims
relating to health and medical benefits are outlawed.
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Slide 17-25 Pricing strategy
There are three aspects to international pricing strategy. They are price discrimination,
strategic pricing and regulatory influence on prices
Slide 17-26 Price discrimination
Price discrimination exists whenever consumers in different countries are charged
different prices for the same product. Price discrimination can assist a firm in the process
of maximizing its profits.
Two conditions are necessary for profitable price discrimination.
First, the firm must be able to keep its national markets separate. If it cannot do this,
individuals or businesses may engage in arbitrage. Arbitrage occurs when an individual
or business capitalizes on a price differential for a firm’s product between two countries
by purchasing the product in the country where prices are lower and reselling it in the
country where prices are higher. Example the European auto industry.
Second, different price elasticities of demand must exist in different countries.
The elasticity of demand is determined by a number of factors, of which income level and
competitive conditions are probably the most important. In general price elasticities tend
to be greater in countries with lower income levels and greater numbers of competitors.
Slide 17-27 Elastic and inelastic demand curves, Slide 17-28 Price discrimination
Figures 17.2 and 17.3 illustrate how price elasticity and price discrimination allow firms
to maximize profits
Slide 17-29 Strategic pricing
Predatory pricing involves using the profit gained in one market to support aggressive
pricing in another market, the objective being to drive competitors out of the market.
The ability of a firm to engage in price discrimination or strategic pricing is limited by
antidumping regulations and nation competition policy. Antidumping regulations limit
firms’ ability to price below cost or below the price in its domestic market. Competition
regulations can limit firm's ability to charge monopoly prices.
Slide 17-30 Strategic pricing
Multipoint pricing becomes an issue when two or more international businesses compete
against each other in two or more national markets, a firm’s pricing strategy in one
market may have an impact on its rivals’ pricing strategy in another market.
For example, multipoint pricing is an issue for Kodak and Fuji Photo because both
companies compete against each other in different national markets for film products
around the world. Aggressive pricing in one market may elicit a competitive response
from a rival in another market.
Slide 17-31 Strategic pricing
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Experience curve pricing involves aggressive pricing to build up accumulated global
volume as rapidly as possible, thereby moving the firm down the experience curve as
rapidly as possible. Incurred losses are made up as company moves down experience
curve, making substantial profits
Slide 17-32 Regulatory influences on prices
Governments have regulations designed to promote competition and restrict monopoly
practices. The ability of a firm to engage in price discrimination or strategic pricing is
limited by antidumping regulations and nation competition policy. Antidumping
regulations limit firms’ ability to price below cost or below the price in its domestic
market.
Slide 17-33 Configuring the marketing mix
A firm might vary aspects of its marketing mix from country to country to take into
account local differences in culture, economic conditions, competitive conditions,
product and technical standards, distribution systems, government regulations, and the
like. Such differences may require variation in product attributes, distribution strategy,
communications strategy, and pricing strategy. These factors make it rare for a firm to
adopt the same marketing mix worldwide.
Standardization versus customization is not an all or nothing concept. In reality most
firms standardize some things and customize others. When looking at the overall
marketing mix and message, one often finds some aspects of standardization and some
aspects of customization in all products depending on local requirements and overall cost
structures
Slide 17-34 New product development
New product development is a high risk but high return activity. In order to build up a
competency in new product development, the international business must do two things;
1) disperse R&D activities to those countries where new products are being pioneered,
and 2) integrate R&D with marketing.
Other things being equal, the rate of new-product development seems to be greater in
countries where:
•
More money is spent on basic and applied research and development.
•
Underlying demand is strong.
•
Consumers are affluent.
•
Competition is intense.
Basic and applied research and development discovers new technologies and then
commercializes them. Strong demand and affluent consumers create a potential market
for new products. Intense competition between firms stimulates innovation as the firms
try to beat their competitors and reap potentially enormous first mover advantages that
result from successful innovation.
Slide 17-35, Slide 17-36 Integrating R&D, marketing and production
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A firm’s new product development efforts need to be closely coordinated with the
marketing, production, and materials management functions. This integration is critical
to making certain that customer needs are met and that the company performs all its value
creation activities efficiently.
Tight cross-functional integration between R&D, production, and marketing can help a
company to ensure that
1. -Product development projects are driven by customer needs.
2. -New products are designed for ease of manufacture.
3. -Development costs are kept in check.
4. -Time to market is minimized.
Close integration between R&D and marketing ensures that product development projects
are driven by the needs of customers. A company’s customers can be a primary source of
new-product ideas. Identification of customer needs, particularly unmet needs, can set the
context within which successful product innovation occurs. The marketing function of a
company can provide valuable information in this regard.
Integration of R&D and marketing are crucial if a new product is to be properly
commercialized. Without integration of R&D and marketing, a company runs the risk of
developing products for which there is little or no demand.
Slide 17-37 Cross-functional product development teams
One way to achieve cross-functional integration is to have cross-functional product
development teams. The objective of the team is to take a product development project
from the initial concept development to market introduction.
Effective cross-functional teams should be led by a heavyweight project manager with
status in the organization, have members from all the critical functional areas, have
members located together, have clear goals, and have an effective conflict resolution
process
ANSWERS TO CRITICAL DISCUSSION QUESTIONS FOR CHAPTER 17
QUESTION 1: Imagine you are the marketing manager for a US manufacturer of
disposable diapers. Your firm is considering entering the Brazilian. Your CEO believes
the advertising message that has been effective in the United States will suffice in Brazil.
Outline the possible objections to this. Your CEO also believes that the pricing decisions
in Brazil can be left to local managers. Why might she be wrong?
ANSWER 1: While babies’ behinds serve the same function in all cultures, and the
product's technical standards may be similar, sensitivity to bodily functions does vary
across cultures. Thus the advertising message may need to be changed for different
attitudes towards what is appropriate advertising. Likewise, where it might be
progressive to show an ad with a male changing a diaper in some countries, in other
countries this message could be lost or misinterpreted. Another consideration would be
the noise level created by the advertising message of competitor's products, which may
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well be different in Brazil. While local demand and price elasticity decisions should play
an important role in Brazil, pricing should not be left solely to the discretion of the local
managers. Since this is a global business, your firm will likely be competing in Brazil
with some of the same competitors as elsewhere. Thus pricing decisions in one country
can have an impact on pricing and competition in other markets. Relatedly, your firm
may want to position and price the brand similarly across different South American
countries.
QUESTION 2: Within 20 years we will have seen the emergence of enormous global
markets for standardized consumer products. Do you agree with this statement? Justify
your answer.
ANSWER 2: One could either choose to agree or disagree, while the best answer would
likely hedge it somewhere in the middle. There clearly already are enormous global
markets already for products like Coke and Levis, while it is questionable whether there
will ever be a global consumer market for Norwegian lutefisk. More global consumer
markets will likely emerge, but there will continue to be national distinctions for many
products.
QUESTION 3: You are the marketing manager of a food products company that is
considering entering the Indian market. The retail system in India tends to be very
fragmented. Also, retailers and wholesalers tend to have long-term ties with South
Korean food companies, which make access to distribution channels difficult. What
distribution strategy would you advise the company to pursue? Why?
ANSWER 3: Given the fact that one is marketing a consumer good in a country with
long (and seemingly blocked) distribution channels and where there are many different
types of media advertising available, a pull strategy would probably be the best.
QUESTION 4: Price discrimination is indistinguishable from dumping. Discuss the
accuracy of this statement?
ANSWER 4: In some specific instances this statement is correct, but as a general rule it
is not. When a firm is pricing lower in a foreign country than it is in its domestic market,
it can be difficult to distinguish dumping from price discrimination unless it is clear that
the firm is selling at below cost in the foreign market. Yet when costs are reasonably
well known and all prices are above these, or if the firm is pricing lower in its domestic
market than in foreign markets, it can reasonably concluded that price discrimination
rather than dumping is occurring.
QUESTION 5: You work for a company that designs and manufactures personal
computers. Your company’s R&D center is in North Dakota. The computers are
manufactured under contract in Taiwan. Marketing strategy is delegated to the heads of
three regional groups: a North American group (based in Chicago), a European group
(based in Paris), and an Asian group (based in Singapore). Each regional group develops
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the marketing approach within its region. In order of importance, the largest markets for
your products are North America, Germany, Britain, China, and Australia. Your
company is experiencing problems in its product development and commercialization
process. Products are late to market, the manufacturing quality is poor, and costs are
higher than projected, and market acceptance of new products is less than hoped for.
What might be the source of these problems? How would you fix them?
ANSWER 5: The dispersion of activities makes sense - products are produced in the
lowest cost location and marketed by people familiar with local conditions. (The R&D in
North Dakota must be a historical fluke.) Yet this makes the coordination task extremely
complex, and information required for successful commercialization is likely not being
effectively communicated among all the appropriate people. Greater cross-functional
integration in the new product development process should help to improve product
development and commercialization.
TEACHING SUGGESTIONS FOR THE CLOSING CASE OF CHAPTER 17
QUESTION 1: How would you characterize P&G’s product development and marketing
strategy towards Japan in the 1970-1980s? What were the advantages of this strategy?
What were the drawbacks?
ANSWER 1: P&G original approach was to take basic products developed in the US,
and then essentially introducing them unchanged in Japan. Some localization of
advertising was done, but the general view was that its products fulfilled universal needs.
The basic utility of a diaper is not particularly culturally determined, and the need for
clean clothes and dishes is fairly similar across developed countries. Unfortunately, P&G
was wrong.
The basic advantage of the old strategy was economies of scale.
QUESTION 2: How would you characterize their strategy since the early 1990s? What
are the advantages of this strategy? What are the potential drawbacks?
ANSWER 2: P&G is much more locally responsive in its product development and
marketing approach. It is willing to develop new products specifically for individual
markets. This has led not only to a higher market share in individual markets, but P&G is
also learning that products developed for one market may prove valuable in other
markets.
The potential drawbacks are higher costs to collect market information and develop new
products for local markets.
QUESTION 3: Which strategy has been more successful? Why?
ANSWER 3: The locally responsive strategy has been more successful. For the last
decade P&G has been delegating more responsibility for new-product development and
marketing to its major subsidiaries in Japan and Europe. The company is more responsive
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to local differences in consumer tastes and preferences and more willing to admit that
good new products can be developed outside the United States. Evidence that this new
approach is working can again be found in the company’s activities in many countries for
example in Japan. Until 1995, P&G did not sell dish soap in Japan. By 1998, it had
Japan’s best-selling brand, Joy, which now has a 20 percent share of Japan’s $400 million
market for dish soap.
QUESTION 4: What changes do you think P&G has had to make in their organization
and company culture to implement this strategic shift?
What does P&G’s experience teach us about the argument that consumer tastes and
preferences across nations are converging and global markets are becoming more
homogenous?
ANSWER 4: The company is more responsive to local differences in consumer tastes
and preferences and more willing to admit that good new products can be developed
outside the United States. This meant delegating some key activities to its offices in
Europe or Japan. The company decided that its U.S.-centered way of doing business did
not work.
One reason is that needs are not entirely universal. Differences exist in washing
temperature, types of foods (cleaning needs), and preferred attributes (e.g., trim fit). The
existence of local competitors also meant that positioning needed to be localized to
respond to local conditions.
STUDENT EXERCISES FOR CHAPTER 17
globalEDGE™ Exercise Questions
Answers to Exercise questions
http://globalEDGE.msu.edu/
Chapter17 – Exercise 1
The overall and industry rankings of the world’s top 100 global brands are prepared
annually by Business Week and Interbrand. The rankings can be accessed by searching
the term “global brand” at http://globaledge.msu.edu/ibrd/ibrd.asp. This resource is
named “Interbrand: Global Brands Scoreboard” and is found under the globalEDGE
category “Research: Rankings”.
Search Phrase: “global brand”
Resource Name: Interbrand: Global Brands Scoreboard
Website: http://bwnt.businessweek.com/brand/2003/index.asp
globalEDGE™ Category: “Research: Rankings”
Chapter 17 – Exercise 2
The “World’s Top 100 Global Marketers by Media Spending” is an annual ranking
published by the Ad Age Magazine. The ranking can be reached by searching for the
term “advertising” at http://globaledge.msu.edu/ibrd/ibrd.asp. The link is located under
the globalEDGE category “Research: Rankings”.
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Search Phrase: “advertising”
Resource Name: AdAge: Advertising and Marketing Rankings Data Center
Website: http://www.adage.com/datacenter.cms?dataCenterId=1
globalEDGE™ Category: “Research: Rankings”
SUGGESTED READINGS FOR CHAPTER 17
Bartlett, Christopher A. and Sumantra Ghoshal 1989. Managing across borders: The
transnational solution. Boston: Harvard Business School Press.
Clark, Kim B. and Steven C. Wheelwright 1993. Managing new product and process
development. New York: Free Press.
Douglas, Susan P. and Yoram Wind 1987. The myth of globalization. Columbia Journal
of World Business. 22: 19-29
Levitt, Theordore 1983. The globalization of markets. Harvard Business Review. 61(3):
92-102
Pickering, J. F. 1974. Industrial structure and market conduct. London: Martin Robertson.
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