国际市场营销课件英文版chapter2补充Economicfinancial

The Global Economic & Financial Environment,Global Marketing,THE ECONOMIC ENVIRONMENT,Overview Local, regional, and global economic environments influence marketing mix decisions.,Economic Integration,Free Trade Area,Economic Union,Customs Union,Common Market,Harmonization of Economic Policies,Factor Mobility,Common External Trade Policy,Regional Economic Integration,Levels of economic integration Free Trade Area Goods and services are freely trades among all members. Each country maintains its own trade barriers vis-vis nonmembers. Customs Union Members establish a common trade policy with respect to nonmembers.,Regional Economic Integration,Levels of economic integration Common Market Factors of production mobility is emphasized. A common external tariff is adopted Economic Union Integration and harmonization of economic and monetary policies is achieved leading to political union.,European Union Integration,Expected economic growth from: Eliminating transaction costs Economies of scale will be attained as production becomes concentrated More intense competition from EU companies Operations from one country can be freely expanded to other countries. Products can be freely sold across borders to millions of new consumers.,Fortress Europe May Develop,EU integration may result in increased restrictions on trade and investment.,Economic Integration in the Americas,The North American Free Trade Agreement (NAFTA) created the worlds largest free market. 390 million U.S., Canadian, and Mexican consumers,The Maquiladoras,Plants in Mexico that make goods and parts or process food for export back to the U.S.,Economic Integration in Asia,Association of Southeast Asian Nations (ASEAN) East Asia Economic Group South Asian Association for Regional Cooperation (SAARC) Asia-Pacific Economic Cooperation (APEC),Economic Community of West African States (ECOWAS) Afro-Malagasy Economic Union East Africa Customs Union West African Economic Community Maghreb Economic Community Gulf Cooperation Council (GCC),Annual global trade in goods and services . Daily international financial flows now exceed $1.2 trillion (万亿）. World GDP growth.,Integration,Integration (contd.),According to Standard & Poors Global Insight, world exports of goods and services will reach $11.4 trillion by 2005 (24% of world GDP).,Integration：Why so？,The net result of these factors has been the increased interdependence of countries/economies and increased competitiveness.,Integration,Foreign direct investment (FDI) involves investment in manufacturing and service facilities in a foreign country.,Integration,Cross-border mergers and acquisitions (M&As) remain the main stimulus, especially in developed countries. The increase in foreign direct investment has also been promoted by the efforts of many national governments to woo multinationals. Portfolio investment or indirect investment refers to investments in foreign countries that are withdrawable at short notice, such as investments in foreign stocks and bonds.,Integration,Examples of severe currency fluctuations are the 1995 Mexican meltdown and the Asian financial crisis (1997-1999). Unfortunately, the influence of these short-term money flows are nowadays far more powerful regarding exchange rates than an investment by a Japanese or German automaker. Recent examples of financial crisis occurred in Argentina and Brazil.,Major Economies,Group of Five United States Britain France Germany Japan Group of Seven The Group of Five, plus Italy Canada,Group of Ten The Group of Seven, plus Sweden the Netherlands Belgium,European Economic Area,N. American Free Trade Area,Japan and the Tigers,Population (million),GNP (billion),GNP Per Capita,393,$ 8,354,$ 21,248,284,$ 19,831,374,$ 8,293,$ 22,134,U.S., Canada, Mexico,Hong Kong, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand,1997 figures,% of World:,7%,30%,% of World:,5%,21%,% of World:,7%,30%,EU: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden, U.K. EFTA: Iceland, Switzerland,$ 5,638,The Expanding Triad,Economic Environments,Population demographics Age distribution, life expectancies, household size, urbanization Income Distribution of low, medium, and high incomes Gross domestic product per capita Purchasing power parity,next,Consumption Ability Index： Population x GNP per capita,Whats these?,Urbanization, life expectancy, literacy rates, etc. Physical Quality of Life Index (PQLI),return,PQIL,Steps to Calculate Physical Quality of Life: 1) Find percentage of the population that is literate (literacy rate). 2) Find the infant mortality rate. (out of 1000 births) INDEXED Infant Mortality Rate = (166 - infant mortality) 0.625 3) Find the Life Expectancy. 3)INDEXED Life Expectancy = (Life expectancy - 42) 2.7 4) Physical Quality of Life = (Literacy Rate + INDEXED Infant Mortality Rate + INDEXED Life Expectancy) / 3,return,Economic Environments,Consumption patterns Income spent on necessities and luxuries Product saturation or diffusion Other Indexes: - Output in specific industry - Price (Gold, Steel, Al, Wheat, Cotton, Rice) - Finance (Currency exchange rate, 股票发行，原始商业票据，货币供应） - retail, investment loan, wholesale stock index,Whats this?,Availability and quality of infrastructure Rail traffic networks for distribution capabilities Communication systems for marketing Energy (electrical and fuel) consumption,Infrastructure,What are these?,Degree of foreign direct investment in country or in a specific industry Rules governing foreign investment,行业结构（微观环境）,法律？经济政策？,Economic Integration and the International Marketer,Assessing opportunities and problems Marketers must envision the impact of integration on the firms mode of market entry (local production) increased scale of entry (on interregional basis or other segmentation basis) targeted markets change And develop a strategic response to build long-term sustainable competitive advantage through expansion, acquisitions and alliances.,Multinational Corporations,The U.S. government defines a multinational corporations (MNC) for statistical purposes as a company that owns or controls 10 percent or more of the voting securities, or the equivalent, of at least one foreign business enterprise. At present, there are 65,000 MNCs with 850,000 affiliates in foreign countries. MNCs total sales amount to almost $19 trillion.,Multinational Corporations,One third of multinational companies trade is accounted for by intra-firm activities. Two-thirds of of world trade in goods and services is controlled by multinational companies.,Multinational Corporations,By 1995, less than half of the 36,000 multinationals identified by the United Nations came from four countries: the United States, Japan, Germany, and Switzerland.,The Financial Environment,Overview Understanding and managing the key elements of the financial environment are requisites for successful global marketing,Foreign Exchange System,Exchange Rates - The Price of One Curr