the last lecture summary of each chapter

... Deciding How to Enter the Market Trang 21Deciding How to Enter the MarketExporting is when the company produces its goods in the home country and sells them in a foreign market It is the simplest means ... move the products to the borders of the foreign nations Channels within nations move the Trang 34 19 - 34Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Deciding on the ... percentage of cost but can cause problems in countries with high costs Trang 33Deciding on the Global Marketing ProgramSeller’s headquarters organization supervises the channel and is also a part of the

Ngày tải lên: 18/01/2020, 19:42

... obvious and the euro has reduced the amount of price differentiation. Trang 20Global Distributionwhole-channel view of distributing products to final consumers. of intermediaries serving each foreign ... 15Deciding on the Global Marketing Program– Selling largely the same products and using the same marketing approaches worldwide. – Producer adjusts the marketing mix elements to each target ... environment.  Deciding whether to go international.  Deciding which markets to enter.  Deciding how to enter the market.  Deciding on the global marketing program.  Deciding on the global marketing

Ngày tải lên: 18/01/2020, 20:23

... and good for you Chapter Three Analyzing the Marketing Environment Trang 2Analyzing the Marketing Environment• The Company’s Microenvironment • The Company’s Macroenvironemnt • The Demographic ... Environment • The Economic Environment • The Natural Environment • The Technological Environment • The Political and Social Environment • Topic Outline Trang 3The Marketing EnvironmentThe marketing ... products to final buyers Trang 9The Company’s MicroenvironmentTrang 10The Company’s Microenvironmentpositioning their offerings against competitors’ offerings Trang 11The Company’s Microenvironment•

Ngày tải lên: 18/01/2020, 21:30

... all of the other actors operate in a larger macroenvironment of forces that shape opportunities and pose threats to the company. Trang 15Demographic Environment Demographics: The study of ... experiences: • Increasing divorce rates. • More of their mothers employed. • First generation of latchkey kids. – Cynical of frivolous marketing pitches. – Care about the environment. Trang 19Demographic ... to the company that affect its ability to serve its customers. – Macroenvironment: larger societal forces that affect the microenvironment. • Considered to be beyond the control of Trang 7The

Ngày tải lên: 19/01/2020, 01:45

... programs (work with firms to promote each other) – Viral marketing (Internet version of word-of-mouth) Trang 26The Future of Online Advertising May grow to 10-15% of media mix for low-involvement ... connects users around the world. Trang 5Forces Shaping the Digital Age Internet Explosion – Explosive worldwide growth forms the heart of the New Economy. – Increasing numbers of users worldwide, ... Sites The 7 Cs of Effective Web Site Design: Trang 24Online Ads Forms of online advertising: – Banner ads: • Tickers (move across the screen) • Skyscrapers (tall, skinny ads at the side of a

Ngày tải lên: 19/01/2020, 02:27

... 9• There is one interest rate, called the equilibrium interest  rate, at which the quantity of money demanded equals the  quantity of money supplied.Trang 10• The level of output responds to the aggregate demand for  ... in the Money MarketQuantity fixed by the Fed Money supply Trang 12The Downward Slope of the Aggregate • The quantity of goods and services demanded falls Trang 14Figure 2 The Money Market and the ... The aggregate demand curve slopes downward for three reasons: • The wealth effect • The interest­rate effect • The exchange­rate effect Trang 8• People choose to hold money instead of other assets that  offer higher rates of return because money can be used to 

Ngày tải lên: 03/02/2020, 20:42

... important goals of the tax system. The efficiency of a tax system refers to  the costs it imposes on the taxpayers The equity of a tax system concerns  whether the tax burden is distributed  fairly among the population. ... Because taxes distort incentives, they  entail deadweight losses. The deadweight loss of a tax is the  reduction of the economic well­being of  taxpayers in excess of the amount of  revenue raised by the government. Trang 29Administrative ... principle, it is fair for people to pay  taxes on their capability to handle the  financial burden. Trang 50The distribution of tax burdens is not  the same as the distribution of tax bills Much of the debate over tax policy 

Ngày tải lên: 03/02/2020, 23:18

... Trang 4The Functions of Money• Money has three functions in the economy: • Medium of exchange • Unit of account • Store of value Trang 5The Functions of MoneyTrang 6The Functions of MoneyTrang 7The ... PRICES IN THE LONG RUN Trang 229 The Monetary System Trang 3THE MEANING OF MONEY• Money  is the set of assets in an economy that  people regularly use to buy goods and services  from other people. ... 7The Functions of Money• Liquidity • Liquidity is the ease with which an asset can be  converted into the economy’s medium of exchange Trang 8The Kinds of MoneyTrang 9Money in the U.S Economy•

Ngày tải lên: 04/02/2020, 00:20

...  The Farmer and the Rancher  Specialize and Trade   Each would be better off if they specialized in producing the product they are more suited to produce, and then trade with each other. The farmer should produce potatoes.  ... producers of a good according to their opportunity cost. The producer who has the smaller opportunity cost of producing a Trang 17   The Opportunity Cost  of Meat and Potatoes 8 pounds of  meat ... potatoes at a lower cost the farmer or the rancher? Differences in the costs of  production determine the following: Trang 15   Absolute Advantage Describes the productivity of one person, firm,

Ngày tải lên: 04/02/2020, 03:16

... Advantage and Trade • The Rancher’s opportunity cost of an ounce of potatoes is ¼ an ounce of meat, whereas the Farmer’s opportunity cost of an ounce of  potatoes is ½ an ounce of meat • The Rancher’s opportunity cost of a pound of meat is only 4 ounces of potatoes, while the  ... produce, and then trade with each other.Trang 14Table 2 The Gains from Trade: A SummaryCopyright © 2004 South-Western Trang 15Figure 2 How Trade Expands the Set of Consumption 0 Meat (ounces) (a) The ... The Rancher’s opportunity cost of a pound of meat is only 4 ounces of potatoes, while the  Farmer’s opportunity cost of an ounce of meat  is only 2 ounces of potatoes Trang 26Copyright © 2004 South-Western…so, the Rancher

Ngày tải lên: 04/02/2020, 05:47

... political problems in Mexico in 1994, they sold some of their Mexican assets and used the  proceeds to buy assets of other countries Trang 38Figure 7 The Effects of Capital FlightCopyright©2003 Southwestern/Thomson Learning (a) The Market ... A policy that reduces national saving, such as a government budget deficit, reduces the supply  of loanable funds and drives up the interest rate • The higher interest rate reduces net capital  outflow, reducing the supply of dollars • The dollar appreciates, and net exports fall ... increases the supply of pesos 5 which causes the peso to depreciate. E Trang 40• Net capital outflow is the variable that connects the two markets.Trang 41Copyright © 2004 South-WesternSummary

Ngày tải lên: 04/02/2020, 06:41

... next, the value of a dollar rises, even if the price of  the good stays the same. • If the quality of a good falls from one year to the  next, the value of a dollar falls, even if the price of  the good stays the same. • The BLS tries to adjust  the price for constant  ... Measuring the Cost of Living• The CPI is an accurate measure of the selected goods that make up the typical bundle, but it is not a perfect measure of the cost of living Trang 20• The index overstates the increase in cost of living by not  ... Choose a Base Year and Compute the Index:  • Designate one year as the base year, making it the  benchmark against which other years are compared.  • Compute the index by dividing the price of the  basket in one year by the price in the base year and 

Ngày tải lên: 04/02/2020, 08:03

... sellers are willing and able to sell.  • Law of Supply • The law of supply states that, other things equal, the quantity supplied of a good rises when the price of the good rises Trang 26The Supply Curve: The Relationship ... Quantity demanded is the amount of a good  that buyers are willing and able to purchase. • Law of Demand • The law of demand states that, other things equal, the quantity demanded of a good falls when the price of the good rises.  ... in the Demand Curve• Prices of Related Goods • When a fall in the price of one good reduces the demand for another good, the two goods are called  substitutes. • When a fall in the price of one good increases the demand for another good, the two goods are called 

Ngày tải lên: 04/02/2020, 08:33

... South-WesternSummary • Competitive, profit­maximizing firms hire each factor up to the point at which the value of the marginal product of the factor equals its price • The supply of labor arises from individuals’  ... Product and the Demand for Labor • The value­of­marginal­product curve is the labor demand curve for a competitive, profit­maximizing firm Trang 19Figure 3 The Value of the Marginal Product of LaborCopyright©2003 ... When a competitive firm hires labor up to the point at which the value of the marginal  product equals the wage, it also produces up to the point at which the price equals the marginal cost Trang 22Copyright © 2004 South-WesternTHE

Ngày tải lên: 04/02/2020, 10:43

... ProductDiminishing marginal product  is the  property whereby the marginal product of an  input declines as the quantity of the input  Trang 7Your Journal QuestionYou have just been given 10  acres of land. The land is of varying quality ...  can be determined by  dividing the firm’s costs by the  quantity of output produced.  The average cost is the cost of each  typical unit of product.  Trang 15Family of Average CostsAverage Fixed Costs (AFC) ... Trang 2The Firm’s ObjectiveThe economic goal of the firm is to maximize profits. Trang 4Economic Profit versus Accounting Profit Revenue Total opportunity costs

Ngày tải lên: 04/02/2020, 11:31

... Funds • The interest rate is the price of the loan • It represents the amount that borrowers pay for loans and the amount that lenders receive on  their saving • The interest rate in the market for loanable  ... Now, subtract C and G from both sides of the equation: Trang 20Copyright © 2004 South-WesternThe Meaning of Saving and Investment • Public Saving • Public saving is the amount of tax revenue that the government has left after paying for its spending. ... South-Western• The financial system consists of the group of financial system institutions in the economy that help to match one person’s saving with another person’s  investment • It moves the economy’s scarce resources from savers to borrowers

Ngày tải lên: 04/02/2020, 12:11

... choosing a portfolio with lower risk and lower returns • The value of an asset, such as a share of stock, equals the present value of the cash flows the  owner of the share will receive, including the  stream of dividends and the final sale price ... Firms undertake investment projects if the  present value of the project exceeds the cost Trang 5Copyright © 2004 South-WesternPRESENT VALUE: MEASURING THE TIME VALUE OF MONEY • If r is the interest rate, then an amount X to be  ... South-WesternSummary • According to the efficient markets hypothesis, financial markets process available information rationally, so a stock price always equals the  best estimate of the value of the underlying 

Ngày tải lên: 04/02/2020, 13:41

... Policymakers are often concerned with the  efficiency, as well as the equity, of economic outcomes Trang 43Copyright © 2004 South-WesternSummary • The equilibrium of demand and supply  maximizes the sum of consumer and producer surplus ... South-WesternUsing the Demand Curve to Measure Consumer Surplus • The area below the demand curve and above the price measures the consumer surplus in the market Trang 16Figure 3 How the Price Affects ... 35• Free markets allocate the demand for goods to the  sellers who can produce them at least cost.• Free markets produce the quantity of goods that  maximizes the sum of consumer and producer 

Ngày tải lên: 04/02/2020, 13:42

... Average costs can be determined by dividing the  firm’s costs by the quantity of output it produces.  • The average cost is the cost of each typical unit of  product.  Trang 28Table 2 The Various Measures of Cost: Thirsty Thelma’s ... The economic goal of the firm is to maximize  profits. Trang 6Copyright © 2004 South-Western/Total Revenue, Total Cost, and Profit • The amount a firm receives for the sale of its  output. • The market value of the inputs a firm uses in  ... AND THE ORGANIZATION OF INDUSTRY Trang 2Copyright©2004 South-Western13 13 The Costs of Production Trang 4Copyright © 2004 South-Western/WHAT ARE COSTS? • According to the Law of Supply:Law of Supply

Ngày tải lên: 04/02/2020, 15:19

... to its natural rate, regardless of the rate of  inflation, is called the natural­rate hypothesis • Historical observations support the natural­rate hypothesis Trang 18The Natural Experiment for the Natural Rate HypothesisTrang ... Inflation  • The natural rate of unemployment depends on various features of the labor market • Examples include minimum­wage laws, the  market power of unions, the role of efficiency wages, and the effectiveness of job search ... IN THE PHILLIPS CURVE: THE ROLE OF EXPECTATIONS• The Phillips curve seems to offer policymakers  a menu of possible inflation and unemployment outcomes Trang 10The Long-Run Phillips Curve• In the 1960s, Friedman and Phelps concluded that inflation and unemployment are unrelated 

Ngày tải lên: 04/02/2020, 18:00