International Political Economy
1. Discuss the important international marketing concepts covered in the video
There are many concepts that have been discussed in the video. However, before that, the introduction to Tom Friedman has been given that he is the columnist for the New York Times. He gave important concept about the Globalizations, and they are divided into three layers we can say namely Globalization 1.0, Globalization 2.0 and Globalization 3.0 respectively. After that Friedman’s definition of the Flatness have been explained in the detail. The top flatteners have been discussed that were important. The viral marketing is discussed which is the distribution of free software. Open source software concept is discussed as writing set of principles for the software which source is available to others.
Outsourcing is discussed as sub contract for the design or the manufacturing to the third party. Off shoring is discussed as the relocation of business from one to other country like Assembly of Apple products in China. The concept of the complex supply chain is discussed as system involved in moving products from supplier to customer. In sourcing is said that the penetration of large firms by other firms to support them. In forming is discussed as the rise of the search engines such as Yahoo and Google.
2. What lessons did you as an international marketer learn from this video clip?
I have learned many good concepts about the marketing or international marketing from the video. First Tom Friedman has been introduced that he is the famous columnist for the New York Times. Three-globalization concept that is existence in this world has been introduced that the world is segregated in these three. The world of flatness have been known, and ten best Flatteners have been discussed that the major points. Viral marketing is the great concept that where free software’s are available on a platform. Open source software is a great concept to learn as it also plays an important role.
The outsourcing is the great and very helpful concept as the businesses get their work done by the third parties who have enough resources. Off Shoring is the good concept that we can see implementing practically. Different call centers are the big examples of that. In sourcing also allows the businesses to help them in the form of support of logistics. In the complex supply chain, a whole system of people or organization is involved so that product or service could be moved from the supplier to the customers and finally I have learned that the rise in the search engines as if Google and Yahoo have been categorized by Informing.