Ch9 - Emerging Markets Chapter 9 9-2 What Should You Learn?...

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Emerging Markets Chapter 9
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9-2
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What Should You Learn? The political and economic changes affecting global marketing The connection between the economic level of a country and the marketing task Marketing’s contribution to the growth and development of a country’s economy The growth of developing markets and their importance to regional trade The political and economic factors that affect stability of regional market groups The NIC growth factors and their role in economic development
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Global Perspective Wal-Mart, Tide, and Three-Snake Wine China and emerging markets will account for 75% of the world’s total growth next decade and beyond New patterns of consumer behavior are emerging Countries prosper People are exposed to new ideas and behavior patterns via global communication networks Old stereotypes, traditions, and habits are cast aside or tempered A pattern of economic growth and global trade will extend well into the 21 st century Three multinational market regions Europe, Asia, and America
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Marketing and Economic Development The stage of economic growth Affects the attitudes toward foreign business activity The demand for goods The distribution systems found within a country The entire marketing process Static economy Dynamic economy Economic development Means an increase in GDP and implies a widespread distribution of increased income Economic development presents two challenges Study of economic development is necessary to gain empathy regarding the economic climate within developing countries Study of state of economic development with respect to market potential, including the present economic level and the economy’s growth potential
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Stages of Economic Development The United Nations groups countries into three categories MDC s (more-developed countries) LDC s (less-developed countries) LLDC s (least-developed countries) Newly Industrialized Countries (NICs) Countries that are experiencing rapid economic expansion and industrialization Do not exactly fit as LDCs or MDCs Have moved away from restrictive trade practices Instituted significant free market reforms
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Standards of Living for Selected Countries Exhibit 9.1
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NIC Growth Factors Economic growth factors for NICs Political stability in policies affecting their development Economic and legal reforms Entrepreneurship Planning Outward orientation Factors of production Industries targeted for growth Incentives to force a high domestic rate of savings and to direct capital to update the infrastructure, transportation, housing, education, and training Privatization of state-owned enterprises (SOEs) that placed a drain on national budgets
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Information Technology, the Internet, and Economic Development New, innovative electronic technologies are key to a sustainable future for developed and developing nations
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This note was uploaded on 07/30/2011 for the course ACCT 302 taught by Professor Brown during the Spring '11 term at Maryland.

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Ch9 - Emerging Markets Chapter 9 9-2 What Should You Learn?...

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