Term Paper on "Global Marketplace"
Term Paper 4 pages (1169 words) Sources: 4
[EXCERPT] . . . .
Economics is the name of how to earn money and how to consume it. Adam Smith is known as the father of economics who proposed the basic and the most authentic definition of the term 'Economics'. Economics is a subject which is used in almost every walk of life.The field of economics is as broad as it has the entire world in it (John, pp. 16). As per the qualified professionals, economics is the most important subject to read. The government of every country always tries to enhance the knowledge of this particular subject among every citizen.
The concept of economic development is not new for the economics' coursework. The element of economic development is not only practical but also applied in a number of places. The main perspective of this assignment is to pen down different economic development phases and then evaluate its effects on the marketing strategies for a company. For this piece of work the researcher has to evaluate and answer the considerations for promoting, distributing and charging different prices at different economies of scale. The author has adopted a step-by-step (SBS) approach to complete this task in a well understandable manner. In the next section discussion about the economic development and its level has jotted down followed by the main brainchild of this paper.
Economic Development and its Levels
Basically economic development is the name of increment in the living standards of the population of a nation or country. It has been referred as development because it interchanges the level of sustainable economic growth of a country from low income group to high income group. The essence of economic devel
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Development means improvement, so economic development means improvement in the economy of the country but its concept is not limited to the economy only as it accounts for improvements in different indicators of the country like life expectancy, literacy rate, poverty rates, unemployment rates, inflation rate and Gross Domestic Product Rate (GDPR). Economic development has a direct relationship with the country's overall growth and it is also related to the human development of a country.
The levels of the economic development prescribed by many economists are underdeveloped economy, developed economic and developing economy. As definition, developed economy is those economies that are already in a good economic position while developing economies are those countries or economies that are in the queue to become developed economies. The United States (U.S.), United Kingdom (UK) and Japan can be referred as developed economies while China, Pakistan and India are developing economies. Apart from that, the economies that are in miserable levels like Africa and Uganda has been referred as underdeveloped economies.
As an organization, the officials have to undertake different strategies while entering in any of economic development levels. The idea of taking and implementing the right strategy at the right time is quite crucial from the standpoint of an organization and the same has been discussed under the next heading.
The Influence of Economic Development on Marketing Strategy
Marketing is a term which has so many definitions and unfortunately not a single one describe its entire function appropriately. Generally marketing is a term uses to market the products in front of the customers.
Marketing strategies… READ MORE
Quoted Instructions for "Global Marketplace" Assignment:
“On the global stage, economies develop at different rates. For example, countries tend to be labeled as more or less developed from an economic perspective. The development of countries has a great deal to do with their ability to promote, distribute, and properly identify the value of a product.
Discuss the different levels of economic development and how this may influence your proposed marketing strategy. Your response should address the following:
Evaluate the special considerations for distribution, promotion, and pricing strategies in international, multinational, and global environments.
Discuss and identify the differing levels of economic development.
Explain what the differences mean to the company and how the differences would affect distribution, promotion, and pricing strategies in the 2 potential expansion markets.
Explain how these economic levels may affect demand for the company products and services and for potential adaptations of the marketing strategy in the 2 potential expansion markets.
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How to Reference "Global Marketplace" Term Paper in a Bibliography
“Global Marketplace.” A1-TermPaper.com, 2011, https://www.a1-termpaper.com/topics/essay/economics-name/3504. Accessed 5 Oct 2024.
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Sat, Oct 5, 2024
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