Three types of companies populate and compete in the global marketplace. Identify and describe each type.

All three types of global companies employ people in different countries and many have administrative, marketing, and manufacturing operations (often called divisions or subsidiaries) around the world. However, a firm's orientation toward and strategy for global markets and marketing defines the type of company it is or attempts to be. The three are: (1) An international firm engages in trade and marketing in different countries as an extension of the marketing strategy in its home country.
(2) A multinational firm views the world as consisting of unique parts and markets to each part differently.
(3) A transnational firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs more than differences.