How does Marketing affect the Global Economy
Nowadays, the development of global economy is closely related to the Marketing which involves some professional behaviour to sell or promote the goods. There are no possibilities to push the economic growth without the strategies of the Marketing, on the other hand, the Marketing cannot be separated from the global economy. During the financial crisis, the amounts of global transaction declined keeping company with the economic recession. In this case, it illustrates directly the interaction between the Marketing and the global economy. Not only does the Marketing play a fundamental role in the development of the micro companies’ ...view middle of the document...
During the production orientation era, merchants devoted to produce good because there were little goods in the market and the customers were eager to shop. As soon as something was produced, people desired to buy it. (Spencer Brace, 2012).The second era is sales orientation era. During the twentieth century, there was more competition in the market and people started to sell products. For the profit, the sellers planned some strategies like communications, advertisings and branding to encourage people to buy the products (Heather Moore, 2012). The marketing orientation era is the final stage. Since the 1960s, marketing has become increasingly competitive and saturated in the society. The management of Marketing has been enhanced to cope with the complex market. Marketers tried to create more strategies to attract customers and eventually a system about marketing formed. The marketers turned to think about the customers’ needs and the methods to catch each customer. (i.b.i.d)
Compared with the historical method to sell, contemporary approaches of marketing are much more complicated. There are four main methods which are often used by the companies and the managers: command, change, consensus and culture (Marketing strategy, Ferrell). Command method is that leaders or the superiors will assess the strategies of Marketing. The other method to research the Marketing named change approach is pretty like the command method. However, this method put more emphasis on implementation. The third method is consensus method which should be involved with the participation and evaluation of all grades managers. Culture method is the final method. It should include the third method and be more premise (i.b.i.d) . However, even each method has been taken, a leader still has to think an appropriate way to
B: The Global Economy
The global economy is the economy of the world, considered as an international exchange of goods and services. (American English Definition of with Pronunciation by Macmillan Dictionary, 1.2.2015).
The graphs below shows the rank of each country’s current economy and the development of the world economy separately.
Predictive List of the 50 Economies with the Greatest contribution to Global Economic Growth in Nominal GDP from 2010 to 2020 |
Rank | Country | Incremental GDP
(billions of US$) | Share of Global
GDP Growth |
— | World | 32,909.363...