International Marketing

Economic development and the Americas

1. Define: BEM, Economic development, Infrastructure, NICs

 a. BEM: big emerging markets is used to describe the core group of populous
nations that will account for much of the growth in world trade among
developing and newly industrialized countries.
b. Economic development: it is an increase in national production that results in an
increase in average per capita gross domestic product (GDP) or gross national
income (GNI)
c. Infrastructure: it is the collective assortment of capital goods that serve the
activities of many industries and support production and marketing.
d.NICs: newly industrialized countries are countries that are experiencing rapid
economic expansion and industrialization.

2. It is possible for an economy to experience growth as measured by total GNP

without a commensurate rise of the standard of living. Discuss fully.
 It is not possible for an economy to experience growth as measured by total
GNP without commensurate rise of the standard of living. If there is an increase
of GNP, people tend to spend more money and buy more products due to the
appearance of many new needs and wants in the market.

3. Why do technical assistance programs of more affluent nations typically ignore

the distribution problem or relegate it to a minor role in development planning?
Explain.
 Technical assistance programs of more affluent nations typically ignore the
distribution problem or relegate it to a minor role in development planning
because when the economy of a country reaches growth, there would be
effective distribution of the services entitled for the country’s population. It can
be also due to effective distribution policy that are already existent in the
technical assistance programs implemented by the countries.

4. Discuss each of the stages of evolution of the marketing process. Illustrate each
stage with a particular country.
 There are 3 stages with two substages for each:
a. Agricultural and raw materials: self-sufficient and surplus commodity product. For
an example of this would be the indigenous people of the world that live off of
all natural resources and live in an agricultural economy. These people eat the
foods grown from the ground and hunt animals. They do not use currency,
instead they do business with exchanges of food or materials
b. Manufacturing: small scale, mass production. An example of this would be the
U.S. during 1885-1914 when it was beginning to produce and create products
nationally. It also became a producer for others.
c. Marketing: commercial transmission (U.S. economy 1915-1929), mass distribution
(U.S. economy 1950 to present). An example of this can be China. It is constantly
creating new products for other countries and for itself. There is rapid product
innovation, national, regional and export markets.