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Chapter three. The role of economy. Marketers need to operate within the constraints of this environment, and in the case of international marketing there will be more than one environment constraining the company at any one time.

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chapter three

Chapter three

The role of economy

slide2
Marketers need to operate within the constraints of this environment, and in the case of international marketing there will be more than one environment constraining the company at any one time.
slide3
Most of the firm’s environments have to be taken as they are and cannot be controlled, yet they have profound consequences for marketing management. Thus procedures are needed for the speedy identification of fresh market opportunities resulting from environmental change
slide4
A two-step procedure for scanning environments and coping with environmental change is necessary.
  • 1. the firm should predict the external changes that might occur and then detail: how the organization would be affected by them and how it should respond.
slide5
2. it should list the business’s major functions, followed by an outline of all environmental factors likely to affect these functions. Unfortunately there is a huge number of external variables that might affect a firm’s operations, creating the danger that some important variables may be overlooked.
slide6
Very large companies might attempt to influence the governments and institutions that help determine environments in the first place. Lobbying of governments, the media international organizations, etc, can occur via trade associations, chambers of commerce, industry trade missions to foreign countries and similar organizations.
slide7
3.1 world economy overview
  • Revolutionary changes: contrary to much of the received doctrine of economic theory
  • The first change: increased volume of capital movements. Capital movements rather than trade have become the driving force of the world economy. Today, it is capital movements and trade that determine currency value
slide8
The second change: employment in manufacturing--- remains steady or has declined, production---continues to grow
slide9
The third change: uncoupling primary products economy from the industrial economy
  • The fourth change: the emergence of the world economy as the dominant economic unit. The world economy is in control. The macroeconomics of the nation-state no longer control economic outcomes
slide10
3.1.1 the international economic system

世界银行(英语:World Bank Group,简称: WBG)是世界银行集团的俗称。

“世界银行”这个名称一直是用于指国际复兴开发银行(IBRD)和国际开发协会(IDA)。

这些机构联合向发展中国家提供低息贷款、无息信贷和赠款。 它是一个国际组织,其一开始的使命是帮助在第二次世界大战中被破坏的国家的重建。今天它的任务是资助国家克服穷困,各机构在减轻贫困和提高生活水平的使命中发挥独特的作用。

slide11
世界银行集团的机构
  • 除世界银行外其它五个机构是:
  • 国际复兴开发银行(IBRD),1945年成立
  • 国际金融公司(IFC),1956年成立
  • 国际开发协会(IDA),1960年成立
  • 多边投资担保机构(MIGA),1988年成立
  • 国际投资争端解决中心(ICSID),1966年成立
slide12
国际货币基金组织(英语:International Monetary Fund,简称:IMF)于1945年12月27日成立,为世界两大金融机构之一,职责是监察货币汇率和各国贸易情况、提供技术和资金协助,确保全球金融制度运作正常;其总部设在华盛顿。
slide13
国际货币基金是一“拥有186个会员国,致力于促进全球金融合作、加强金融稳定、推动国际贸易、增进高就业率、经济稳定成长以及降低贫穷的组织”。国际货币基金是一“拥有186个会员国,致力于促进全球金融合作、加强金融稳定、推动国际贸易、增进高就业率、经济稳定成长以及降低贫穷的组织”。
slide14
与世界银行的分别
  • 国际货币基金主要的角色是核数师,工作是记录各国之间的贸易数字,和各国间的债务,并主持制定国际货币经济政策。至于世界银行,则主要提供长期贷款。世银的工作类似投资银行,向公司、个人或政府发行债券,将所得款项借予受助国。
  • IMF的成立目的是要稳定各国的货币,以及监察外汇市场。由于IMF不是银行,它不会放款。然而,国际货币基金有储备金,供国家借用,以在短时间内稳定货币;做法类似在往来户口中透支。所借款项必须于5年内清还。
slide15
世界贸易组织(简称世贸组织或世贸;英语:World Trade Organization,简写为WTO,是负责监督成员经济体之间各种贸易协议得到执行的一个国际组织,前身是1948年开始实施的 关税及贸易总协定的秘书处。
slide17
WTO宗旨
  • 提高生活水平,保证充分就业,大幅度稳步地提高实际收入和有效需求。
  • 扩大货物、服务的生产和贸易。
  • 坚持走可持续发展道路,促进对世界资源的最优利用,保护环境。
  • 积极努力确保发展中国家,尤其是最不发达国家在国际贸易增长中获得与其经济发展需要相适应的份额。
  • 通过实质性削减关税等措施,建立一个完整的、更具活力的、持久的多边贸易体制。
  • WTO基本原则
  • 非歧视性原则(最惠国待遇原则,国民待遇原则)
  • 透明度原则
  • 自由贸易原则
  • 公平竞争原则
3 2 exchange system
3.2 exchange system
  • 3.2.1 foreign exchange and international finance
  • Definition: the process of converting the currency of one country into the currency of another country. The exchange rate is constantly changing due to supply and demand and the possible financial difficulty a country is experiencing.
slide19
外汇市场(英语:Foreign exchange,简称Forex或FX)是指用作为外汇交易的市场,其特色是在此市场上有多于一种的货币,被交易为另一种货币,或称外币。
  • 外汇市场是世界经济最大的金融市场之一,市场参与者包括银行、商业公司、中央银行、投资银行、对冲基金、散户、货币发行机构、发钞银行,跨国组织,政府等。每日全球外汇交易总量,大约过数万亿美元。
slide20
factors that affect exchange rate
  • (一)影响汇率变动的经济因素 1.国际收支状况 2.通货膨胀率的差异 3.经济增长率的差异 4.利率差异 5.财政收支状况 6.外汇储备的高低
  • (二)心理预期因素
  • (三)信息因素
  • (四)政府干预因素
slide21
3.2.2 foreign exchange activities
  • soft currency
  • hard currency
  • foreign exchange market
slide22
硬通货是指国际信用较好、币值稳定、汇价呈坚挺状态的货币。由于各国通货膨胀的程度不同,国际收支状况以及外汇管制程度不同,当一国通货膨胀率较低,国际收支顺差时,该国货币币值相对稳定,汇价坚挺。在国际金融市场上,习惯称其为硬通货。 与硬通货相对的是软通货。它是指币值不稳、汇价呈疲软状态的货币。由于货币发行过度,货币含金量或购买力不断下降,与其他国家货币的比价也会不断下降。此外国际收支出现大量逆差,也会使一国货币与其他国家货币的汇率不断下降。在国际金融市场上,通常把这种币值不断下降、汇价呈疲软状态的货币称为软通货。
slide23
3.2.3 foreign exchange controls (government, methods)
  • ①直接在外汇市场上买进或卖出外汇;②调整国内货币政策和财政政策;③在国际范围内发表表态性言论以影响市场心理;④与其他国家联合,进行直接干预或通过政策协调进行间接干预等.
slide24
3.2.4 international financial agencies
  • 国际开发协会(International Development Association,IDA)是世界银行的一个附属机构,这个国际金融机构专门对较穷的发展中国家和地区发放条件较宽的长期贷款。
slide26
国际开发协会的任务,主要是向较穷的发展中国家和地区的公共工程和发展项目提供比世界银行贷款条件宽的长期贷款。开发协会提供的资金称信贷(Credit),世界银行则称贷款(Loan)。二者的区别在于,协会的信贷条件较宽,原则上只贷给发展中国家较穷的会员国及其所属地区。国际开发协会的任务,主要是向较穷的发展中国家和地区的公共工程和发展项目提供比世界银行贷款条件宽的长期贷款。开发协会提供的资金称信贷(Credit),世界银行则称贷款(Loan)。二者的区别在于,协会的信贷条件较宽,原则上只贷给发展中国家较穷的会员国及其所属地区。
slide27
国际金融公司(International Finance Corporation,IFC)也是世界银行下属机构之一。
  •   国际金融公司的宗旨主要是:配合世界银行的业务活动,向成员国特别是其中的发展中国家的重点私人企业提供无须政府担保的贷款或投资,鼓励国际私人资本流向发展中国家,以推动这些国家的私人企业的成长,促进其经济发展。
slide28
国际货币基金组织(International Monetary Fund,IMF)
  • 宗旨是促进成员国在国际货币问题上的磋商与协作;促进汇率的稳定和有秩序的汇率安排,从而避免竞争性的汇率贬值;为经常项目收支建立一个多边支付和汇兑制度,消除外汇管制;提供资金融通,缓解国际收支不平衡;促进国际贸易的发展,实现就业和实际收入水平的提高及生产能力的扩大。其职能为汇率监督、资金融通、提供国际货币合作与协商的场所。
slide29
3.3 international trade
  • definition
  • 3.3.1 balance of trade
  • 3.3.2 the us-china balance of trade
slide30
Key factors in the economic environment of a country in which a firm is doing business are the nature and extent of competition, growth rates and living standards, tax regimes, import controls and market opportunities as a whole.
slide31
International marketing managers need to take an interest in both the economic structures of the countries in which they wish to do business and the international economy as whole in order to establish the sizes and characteristics of various markets, identify high-growth sectors assess the degree of risk attached to operating in specific countries, and deploy resources effectively.
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