United States of America, EU (European Union – 27 developed European

countries), England, Australia and Canada.

Note – Also, see page 1 for further explanation. Halepete Text.

FIRST MOVERS ADVANTAGE – SEE PAGE 2….

GLOBAL TIER - consumers who want products and goods to have the same attributes and quality as products in developed countries. Most companies that enter foreign markets try to cater to consumers in the global tier. GLOCAL TIER – consumers who demand customized products of near-global standards are willing to pay a shade less than global consumers. Intensified competition between domestic and foreign companies. LOCAL TIER – These consumers follow the glocal consumers. This consumer is happy with local quality and local prices. BOTTOM OF THE PYRAMID – The lowest tier. Can only afford the least expensive. Poor folks. All on pagae 8.

HYPERMARKET – supermarkets and department stores combined….example in USA?

SUPERMARKET – A large self-serve store that carries a wide variety of food, household products. High volume, low prices. Example in USA?

COOPERATIVE STORE – owned and controlled by members of the cooperative who use the products and not an individual owner. Good product quality is shared and the profits as well. WAREHOUSE CLUB – a cut price retailer that sells a limited selection of brand name grocery items, etc..at a substantial discount to members….example in the USA?

Pages 8 to 10

Let’s discuss various domestic examples.

FRANCHISING – A license given to a manufacturer, distributor or trader that enables them to manufacture or sell a named products or service for a period of time….examples in USA?

JOINT VENTURE – a contract between two companies to conduct business for an agreed upon duration of time.

LICENSING – an agreement by which a company permits a foreign company to set up a business in a foreign market using the licensor’s manufacturing processes, patients, etc..for a payment or royalty.

DIRECT INVESTMENT – the foreign company owns 100% of the company. See pages 10 to 11.

*NOTE – Joint Venture is usually the most efficient entry for companies to enter foreign markets.

Let’s discuss various examples.

REGIONS OF THE WORLD IN WHICH GLOBAL RETAILERS ARE BASED.

Walmart is the world’s largest retailer, an American company. However, Carrefour is the largest

European retailer which had its origins in France.