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ODU MKTG 311 - Understanding and Reaching Global Consumers and Markets

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MKTG 311 1st Edition Lecture 24 Outline of Last Lecture I. Classification by Merchandise SelectionII. Retail PricingIII. Store LocationsIV. Retailers: Ways to classify by Organizational Approach (owned)V. Second way to Classify Retailers: Level of ServiceOutline of Current Lecture I. Retail Communication- Store layoutII. Grid Layout versus Free Flow LayoutIII. Non-store RetailingIV. Global Perspective on World Trade from 12th editionV. Economic ConsiderationsA. Indicators of Economic Health- GDP and balance of tradeB. Level of Economic DevelopmentCurrent LectureI. Retail Communication- Store layout- Store Layout- Refers to how merchandise is arranged in the store.II. Grid Layout versus Free Flow Layout- Grid Layout- Used by grocers and divg./ Convenience storesThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Free Flow Layout- Specialty stores/ Department stores organized in circular fashion, more conducive to.III. Non-store Retailing- Any method the firm uses that doesn’t require the customer to visit the actual storefront to complete purchase and growth in this area.- HSN: Home Shopping NetworkIV. Global Perspective on World Trade from 12th edition- Total value for World Trade: Expected to be$25 trillion ¾ manufactured goods and commodities ¼ services.- Primary Countries/ Regions World Trade: USA, Canada, Western Europe, China and Japan.- China will replace US as largest country for world trade in 2015, Asia will replace Western Europe as largest region for world trade.V. Economic ConsiderationsA. Indicators of Economic Health- GDP and balance of trade- GDP= Gross Domestic Product. Total $ value of goods and services produced inside a country in a year. Most common measures- US- $15T, China- $8T, Japan- $6T- When exports exceed imports: Surplus- When imports exceed exports: Deficit- 2 Trends: Balance of trade in US.1. Imports exceed exports2. Level of imports and exports have continued to rise.- 4 countries that US exports/ imports: China, Canada, Mexico, JapanB. Level of Economic Development- Developed countries- Developing Countries: Countries that have achieved the characteristics. Brazil, Russia, India, and China (BRIC). Countries operating in a pre- industrial economy. Africa, some countries in the Middle


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ODU MKTG 311 - Understanding and Reaching Global Consumers and Markets

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