1+GlobIntroEconSt

1+GlobIntroEconSt - QuickReview Marketingdefined: n...

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Quick Review Marketing defined: n Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (AMA December, 2007)
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Economic Political and Legal Social Natural Technological Competitive TM P P P P Dimensions of Marketing Environment
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"Have it your way" n Means: q Customer orientation (learning about consumer needs and wants) q Coordination and integration of all activities q A Profit Orientation Marketing Concept 
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n Domestic-market saturation in the industrialized parts of the world. n Intensifying competition around the world n Technology Why Global Marketing is Imperative
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PRINCIPLE : EVEN IF YOU ARE ABLE TO DO EVERYTHING YOURSELF -- AND AT LESS COST/ENERGY THAN ELSEWHERE -- IT STILL PAYS TO SPECIALIZE IN WHAT YOU DO RELATIVELY BEST -- AND TRADE FOR OTHER PRODUCTS AND SERVICES. Comparative Advantage
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n COMPARATIVE ADVANTAGE IS WHEN ONE COUNTRY PRODUCING A GIVEN PRODUCT IS ABLE TO DO SO WITH LESS SACRIFICE IN THE OUTPUT OF OTHER PRODUCTS THAN ANOTHER COUNTRY CAN. THIS CREATES A RELATIVE ADVANTAGE IN PRODUCTION.
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Comparative Advantage Theory Specialization just before trade
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In the next ten to twenty years, Emerging Markets will provide many opportunities in
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This note was uploaded on 11/15/2011 for the course ECON 100 taught by Professor Tofighi during the Spring '11 term at IUPUI.

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1+GlobIntroEconSt - QuickReview Marketingdefined: n...

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