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28 Cards in this Set
- Front
- Back
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Globalization |
The process whereby the world's people are becoming increasingly interconnected in all facets of their lives - cultural, economic, political, technological, and environmental |
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Developed Countries |
Shifted emphasis from producing textiles and apparel to consuming them PD encompasses the design and engineering of products to be serviceable, producible, salable, and profitable Examples: US, EU (28 developed European countries) England, Australia, and Canada |
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Developing Countries |
Significantly improved overall economic condition beyond those of newly developing countries Embraced the production of textile and apparel products as a way to compete in the global marketplace No longer the lowest-cost labor sources |
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Newly Developing Countries |
GDP Nations whose overall economic conditions fall well below the world avg in GDP per capita and other measures Apparel production con't to be the vehicle that provides employment where unemployment and poverty rates are high and wages are low |
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Least-Developed Countries |
Rank the lowest in measures of economic well-being Frequently begin to develop when apparel production services for export are initiated Often suffer from governmental exploitation, ongoing tribal wars, lack of education, and traditions inhibiting change. |
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Developing market economy |
An economy with a low-to-middle per capita income |
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Emerging markets are marked by |
Forecasts of high pop. growth Increasing income levels Offer great opportunities for trade, technology transfers, and foreign direct investment |
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First movers advantage |
Gained by the first sig. company to move into a new market |
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The emerging markets' share of global GDP |
Was about 45% in 2008 Expected to grow to 51% in 2014 |
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Unique characteristics that make emerging markets attractive to foreign investors |
Growing economy with increasing GDP Reduced legislative burden Market saturation Domestic competition |
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Consumer Spending Power in Emerging Markets |
Rapidly changing the retail industry The middle-income segments is expanding and represents up to 70% of the total pop. in some emerging markets Intense interest in branded products |
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Four distinct consumer groups |
Global tier Glocal tier Local tier Bottom of the pyramid |
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Common retail formats |
Hypermarket Supermarket Cooperative store Warehouse club Main street stores Mom and Pop store Cash and carry stores |
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Entry modes for emerging markets |
A retailer chooses its entry format based on a country's regulations Franchising Joint Venture Licensing Direct Investment Wholly owned subsidary Acquisition Greenfield Investment |
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Franchising |
A license given to a manufacturer, distributor or trader that enables them to manufacture or sell a named products or service for a period of time
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Joint Venture |
A contract btwn two companies to conduct business for an agreed upon duration of time |
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Licensing |
An agreement by which a company permits a foreign company to set up a business in a foreign market using the licensor's manufacturing processes |
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Direct Investment |
The foreign company owns 100% of the company |
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Ease of Doing Business with Turkey |
55 |
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Capital of Turkey |
Ankara |
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Istanbul Formerly known as: Famous For: |
Largest city in Turkey Constantinople
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Consumers in Turkey: Women |
Influenced by the media In big cities, they are fashion forward In small cities, they are more conservative They are the largest segment of apparel sales Modest Dress - hijab Brand consciousness is HIGH in young pop. Hair care largest share of health and beauty Growing pop. of cosmetic surgery |
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Consumers in Turkey: Men |
2ns largest of apparel sales Prefer Western Dress Religious men - no above the knee shorts, sleeveless shirts or tight clothing Brand consciousness is high in younger pop. Wear baggy pants, (salvar) Deodorant and shaving items - major beauty product |
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Turkey Consumers con't |
Rising interest in social media Facebook = most pop. site (91% of 25-29 year olds access it) Look for reviews of products they own or want to own 87% of young adults access social media daily |
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Turkey Consumers con't |
Increased use of CC's Big ticket items, small purchases, bill paying 71% pay off debts at once Increase due to relaxed restrictions and qualifying for credit |
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Turkish Fashion Trends |
Influenced by TV Series and soap operas Blogs collate these styles for their readers Hollywood actresses are influencers Very similar to Western Europe Colorful headscarves, watches, sunglasses Second-hand clothing for women and men Accessible fashion, less luxury Spend LESS on footwear than European counterparts |
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Turkish Fashion Designers |
Ece Gozen Les Benjamins Arzu Kaprol Hussein Chalayan |
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Ease of Doing Business in Russia |
51 |
