MKTG209 Study Guide - Final Guide: Digital Divide, Economic Integration
Document Summary
Economic definitions: nic: newly industrialised countries, nie: newly industrialised economies, bric: brazil, russia, india & china, opec: organisation of petroleum exporting countries, gdp: gross domestic product. The economic environment: marketing is essentially an economic activity and companies must understand the economic environment in which they are operating, the global economy is dynamic and fast changing, traditional markets have stagnated, emerging economies are growing rapidly. Market characteristics: analysing the following can capture the main dimensions of a market: population, income, consumption patterns and infrastructure. Infrastructure: the availability & quality of a country"s infrastructure is important in evaluating opportunities abroad. Marketers rely heavily on these services in order to operate: marketers must investigate, energy consumption, transportation (land, air, rail and water) distribution, communications (telecom, internet & media, digital divide & internet in emerging economies. Impact of the economic environment on social development: economic success comes with a price tag.
