INTRODUCTION

TABLE OF CONTENTS
Acapulco Manila Galleon Trade Purpose of Galleon Trade

4Ps of Marketing International Business Basic Marketing


ACAPULCO MANILA
GALLEON TRADE
The Acapulco-Manila Galleon Trade, which united
the Americas, Europe, and Asia in 1565, marked the
start of trade relations between Mexico and the
Philippines. This trade made a significant
contribution to the global economy. A useful
channel for the exchange of not just goods but
also of culture, traditions, literature, and
interpersonal encounters has been created
through the trade route.
The Manila Galleon Trade Route was a
potent commercial structure that
connected Spain to the goods of Asia
through Mexico. It involved taking two
independent trade wind belts across the
Pacific, traveling west from Acapulco to
Manila and then east on the way back.
Large ships known as galleons were
created in the middle of the sixteenth
century and combined the carracks'
cargo capacity with some of the
caravels' maneuverability and speed.
They were the strongest ships in the
world at the time, which is why Spain
chose them for this trade. However, in the
eighteenth century, the "Santsima
Trinidad" came to have a tonnage of
about 2,000 tons and some of its
shipments reached values of over two
and a half million silver pesos, despite
King Philip II's original decree that these
trade galleons could not exceed 300 tons
nor carry goods worth more than
250,000 pesos.
 Manila Galleon's Traced Route

The weight of the galleons was nominally limited to

300 tons by a royal ordinance dated 1593, although
one of them may weigh up to 2,000 tons before
leaving the Philippines. Actually, the typical weight
of a galleon was 1,500 tons. The majority of galleons
were made in the Philippines, and those that left
Cebu often carried goods from China and Japan,
including gold, silk, ivory, sandalwood, copper,
porcelain, musk, camphor, and spices.
Purpose of Galleon Trade
Spanish colonial culture benefited greatly from the Manila galleon
trade. It played a role in shaping the Philippines' very society, which was
dependent on Chinese, Malay, and other players for labor, goods, and cash.
The influence of Chinese products and art on Hispanic and Native American
material culture may still be seen in Mexico. The trade had an impact on the
entire empire's economy. Despite acquiring highly sought-after Chinese
goods, the Philippine colony and its commerce were seen from the Spanish
(and official Mexican) perspective as liabilities. The maintenance of Manila
and the galleons was extremely expensive, but they were successful in
diverting a significant amount of American coinage from the imperial coffers.
Numerous independent traders took risks and perished, but significant wealth
was amassed. The explorer Fray Sebastián Manrique observed that upon
reaching Acapulco in 1634, "this benefit made all sufferings and risks appear
as nothing."
 4 Ps OF MARKETING
Product
Distribution of the product depends on its
definition as well. Business executives must
have a strategy for dealing with products at
every point of their life cycle, and marketers
discounts, rival prices, and retail markup in
must be aware of the life cycle of a product.
Product could be a physical good, services,
consulting, etc.
Place
The concept of place involves
deciding where the product should
be sold—in physical stores and
online—as well as how it will be
displayed.
Price
Price is the sum of money customers are
willing to spend on a thing. Marketers
must consider supply costs, seasonal
addition to connecting the price to the
product's actual and perceived value.
Promotion
Consumers are to be convinced that
they require this goods and that its
price is reasonable through promotion.
Public relations, advertising, and the
whole media plan used to launch a
product are all included in promotion.

INTERNATIONAL
BUSINESS
All commercial endeavors that support the
transfer of goods, services, resources,
people, ideas, and technologies across
international borders are categorized as
international business.
There are several different formats for
doing business internationally:
The transfer of goods between
nations (exporting, importing, trade)
Contracts that let foreign businesses
to use goods, services, and methods
from other countries (licensing,
franchising)
The establishment and operation of
sales, manufacturing, R&D, and
distribution facilities in international
markets.
Understanding the impacts that the
aforementioned actions have on
domestic and international markets,
nations, governments, businesses, and
people is a key component of studying
international business. Successful global
companies are able to manage the risks
and uncertainties of operating in a
constantly shifting international market
because they are aware of the diversity
of the global marketplace.
 Marketing describes the actions a business
does to encourage the purchase or sale of a
good or service. Advertising, selling, and
delivering goods to customers or other firms
are all included in marketing. Affiliates

BASIC
perform some marketing on behalf of a
business.

MARKETING Advertising is one of the primary methods

used by marketing and promotion specialists
to capture the interest of important target
markets. Targeted promotions may include
celebrity endorsements, memorable slogans
or taglines, eye-catching packaging or
graphic designs, and general media
exposure.
Core Concepts
of Marketing
Needs - Needs are the essential elements that all living things need to survive. These primarily
consist of food, clothing, shelter, water, and air. Education, healthcare, entertainment, and
recreation are some more demands that must be met in addition to these. Finding out what a
customer needs can be challenging for a marketer since a customer may not be aware of what
they need, and even if they are, they may not be able to express it adequately.

Wants - Wants often depend on human needs and are one step ahead of necessities. When a need is
focused on a particular item, it transforms into a want. The tastes and preferences of the society are
taken into account when designing wants.

Demand - When a buyer is ready and able to purchase a specific good, there is a demand for that
goods. A corporation should conduct research on both the number of people who want and can really
afford to purchase their goods. E.g. Although there is a high demand for Ferrari cars in the market,
there is only a limited segment of the population that can afford to purchase one.
Demand = Willingness to pay + Ability to pay.
Core Concepts
of Marketing
Customer Value - Value is the culmination of what customers see as tangible and intangible
rewards and expenses. In this case, both economic and non-economic costs are included in
the costs, whereas both tangible and intangible benefits are included in the costs. When a
good or service gives customers value and satisfaction, it is successful. Value typically
combines price, service, and quality.

Exchange - It is the act of asking someone for something you need and giving them something
else in return. When people choose to exchange goods and services to satisfy their needs and
wants, marketing occurs. Marketing aids in establishing a corporate climate conducive to value
exchange.

The fundamental idea of marketing is a social and management process

through which people or organizations get what they need or want by
producing, providing, and trading valuable goods with one another.
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