Marketing chap 7

Marketing chap 7 - 2/3 of world trade occurs US Europe...

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2/3 of world trade occurs: US, Europe, Canada, China and Japan Indicators of Economic Health : 1. Gross Domestic Product – Total dollar value of goods and services produced within a country. most common measure. US -> 14.7 trillion. China -> 9.8 Trillion. Japan -> 4.3 Trillion. 2. Balance of Trade – Difference between the monetary value of a nations exports and its imports. a. Exports > imports (surplus) b. Imports > exports (deficit) Two trends relating to exports and imports : 1. Imports have significantly exceeded exports, larger trade deficits 2. Volume of exports and imports increased Primary importers and exporters - > China, Canada, Japan, Mexico Level of economic development : 1. Developed countries – US, Europe, Canada, Japan a. Sophisticated marketing system b. Strong private enterprise c. Market potential for many goods and services 2. Developing countries a. Economy shifts its emphasis from agriculture to industry b. Growing middle class c. Standards of living increasing d. Education levels increasing e. Technology increasing f. Global firms beginning to enter the market: education and purchase power f.i. Achieved the characteristics defined – Brazil, China, India f.ii. Locked in a preindustrial economy – Africa Economic infrastructure : 1. Transportations system
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This note was uploaded on 04/09/2012 for the course MKTG 311 taught by Professor Carpenter during the Spring '12 term at Old Dominion.

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Marketing chap 7 - 2/3 of world trade occurs US Europe...

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