Theoretical and Practical Perspectives
CHAPTER ONE Growth of International Business and Advertising
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Growth of International Business and Advertising
The keystone of our global economy is the multinational corporation. A growing number of corporations around the world have traversed geographical boundaries and become truly multinational in nature. As a result, consumers around the world write with Bic pens and wear Adidas running shoes, talk on Nokia cell phones and drive Toyota autos. Shoppers can stop in for a McDonald’s burger in Paris or Beijing, and German and Japanese citizens alike increasingly make their purchases with the American Express Card. And, for most other domestic firms, the question is no longer, Should we go international? Rather, the questions relate to when, how, and where the companies should enter the international marketplace. The growth and expansion of firms operating internationally have led to the growth in international advertising. U.S. agencies are increasingly looking abroad for clients. At the same time, foreign agencies are rapidly expanding around the globe, even taking control of some of the most prestigious U.S. agencies. The United States continues to both produce and consume the bulk of the world’s advertising. However, advertising’s global presence is evidenced by the location of major advertising markets. In rank order, the top global advertising markets are the United States, Japan, the United Kingdom, Germany, China, France, Italy, Spain, Brazil, and South Korea. And today, 8 of the top 10 world advertising organizations are headquartered outside the United States (Johnson 2009). This chapter outlines the growth of...
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