BU362 Chapter 17: Chapter 17 Marketing
Document Summary
Trade agreements: an intergovernmental agreement designed to manage and promote trade activities for a specific region (ex: north. Analyzing the economic environment using metrics: a firm conducting an economic analysis of a country"s market must look at 3 major economic factors: general economic environment, market size and population growth, and real income. 0-0. 5 = low human development, 0. 5-0. 8 = medium development, 0. 8+ = high human development. In india, 1. 2 billion people live overwhelmingly in rural areas. Evaluating real income: firms can make adjustments to an existing product or change the price to meet the unique needs of a particular country"s market. In china and south korea they use lots of non-verbal cues like handshakes, where they have trust in honour. Hofstede believes cultures differ on six dimensions: power distance: willingness to accept social inequality as natural, guatemala, panama, high in this. Colombia, chile, guatemala low: masculinity: the extent to which dominant values are male oriented.
