A booming economy can attract financial capital inflows, which promote further growth. However, capital can just as easily flow out of the country, leading to economic recession. Is a country whose economy is booming because it decided to stimulate consumer spending more or less likely to experience capital flight than an economy whose boom is caused by economic investment expenditure?
Week 8 Assignment Notes to Study for Quiz a. What is the key concept from each of the eras of the marketing evolution The Production Era: “Produce as much as you can because there is a limitless market for it” The Selling Era: production capacity often exceeded the immediate market demand, therefore the business philosophy turned from producing to selling The Marketing Concept Era: Businesses recognized that they needed to be responsive to consumers if they wanted to get and keep their business so marketing concept developed: 1. A Consumer Orientation—find what they want and provide it 2. A service orientation—everyone has same objective—customer satisfaction 3. A profit orientation—goods and services that will generate the most