Inevitably, the level of economic development has a direct contact with the marketing strategy of a company. Basically a company's marketing strategy is a mixture of three things which are distribution, promotion and pricing. Companies usually make its marketing strategies according to the level of economic development in both the multinational and global context. For a developed country, the organizations have an idea that promotion and pricing strategies will be crucial for them merely to accelerate the level of their earnings. There can be a marginal difference between the standardized form of marketing and local method of marketing. Standardized form of marketing compel the organizations to facilitate the consumers in the same way as they wanted while the domestic marketing makes their own rules of entertaining the consumers, this is the main thing why the standardized form is more productive than the domestic form. Standardized form of marketing includes tailoring the products through branding and slogan concepts, while domestic marketing does not emphasize on these concepts with a great deal. Inevitably, the socio-cultural factors play a dominant role in the success of global marketing because it enhances the level of socialism among the products of a company and thus satisfied the appetite of the consumers with a great deal. Exporting, joint ventures and trade marking are some dominant mediums to enhance the global marketing stance for the companies, especially for the foreign companies, so consideration of the same will bring economical advantages for them. There are numerous factors which influence on the essence of global marketing like foreign direct investment (FDI) and exchange and political risk. Entering in a new market for a company is not a piece of cake as it requires extensive research and behavioral studies. Through ad hoc research and development...
Organizations have idea that people can give any amount for the products in the developed countries which induced the organizations to set high amount in that region and set relatively low price in developing countries because of the income effect. The stance of distribution and product manufacturing has a direct relationship with the overall performance of the product of a company as if the product is well being among the customers then the distribution will increase automatically. The level of effect is almost the same for international, multinational and global companies.
Economic Crisis The revelation of the financial crisis that unfolded in United States in 2008 is considered to be the worst economic crisis since the Great Depression, 1929. The distinctive causative factors that have contributed to the U.S. economic crisis 2008- 2009 are differentiated by aggravated financial control, higher risks in capital investment, the housing bubble phenomena in relation to the brisk credit expansion. The aggregation of these factors in the
Economic Crisis Policies US current economic crisis is considered to be started from real estate sector. The real sector started to decline in 2006 and it accelerated in 2007 and 2008. Housing prices have fallen from the peak from about 25% so far. The decline in prices left homeowners with no option and they were unable to refinance their mortgages and causes default of mortgages. This default of mortgages and loans
Economics Define economics Economics is defined as the study of how society allocates limited resources and goods (Encyclopedia Britannica, 2009). Resources include inputs such as labor, capital, and land and are used to produce goods. Goods include products such as food and clothing, as well as services such as those of barbers, doctors, and firefighters. Often goods and resources are deemed scarce because of society's demand for them vs. their availability (Stapleford,
Economics Scenario In the first phase, the price of coffee increased and thus lured producers into the market. This caused the supply to move up the curve. The increased supply caused the demand to decrease and thus caused the overproduction. The mechanism is shown below graphically. The graph shows the coffee market at an equilibrium price of 3.25. The increase in price caused the supply to rise and the demand to fall. This
Economics The situation in the European air cargo industry bears many hallmarks of a cartel, and this was the finding of the European Commission. The OECD (2002) defines a cartel as "a formal agreement among firms in an oligopolistic industry…on matters such as price, total industry output, market shares, allocation of customers, allocation of territories, bid-rigging, division of profits or the establishment of common sales agencies." The main difference between this
Economic Report Card The nature of the economic world is in constant flux and changes, requiring the student of the subject to be aware of the many patterns and tendencies that are contained within any economic or market system. The purpose of this essay is to examine and compare the current economic situation of today to that of five years ago. This essay will explore the monetary and fiscal policies of
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now