GMS 522 Chapter Notes - Chapter 3: Newly Industrialized Country, Least Developed Countries, Gross Domestic Product
29 Nov 2017
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Gms chapter 3 - economic and financial environments. Economic variables such as interest rates, exchange rates, inflation income and unemployment levels are important determinants of global marketing success but are clearly beyond the control of the global marketing manager. Provide a more robust basis for making inter-country comparisons: debt levels, excessive debt constrains the ability of consumers, industrial buyers and government departments to purchase foreign products. Most countries embrace a free enterprise or capitalist economic system (private firms) Socialist or planned economic systems differ from free enterprise because production is primarily under the control of the state. Market socialism (china) private firms making production and investment decisions within a bread framework of state ownership. Mixed economies in the middle of capitalist and socialism. Consumers at the base of the economic pyramid (bop) represent a vast untapped market which has historically been ignore by multinational firms.
