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Chapter 9 The United Nations classifies a country’s stage of economic development on the basis of its level of industrialization, the three categories are: More developed countries (MDCs); industrialized countries with high per capita incomes Less developed countries (LDCs); industrially developing countries just entering world trade Least developed countries (LLDCs); industrially underdeveloped, agrarian, subsistence societies with rural populations with extremely low per capita income levels, and little world trade involvement. McGraw-Hill/Irwin Copyright ? 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Economic Development and the Americas 9-* Learning Objectives LO1 The importance of time zones for trade relationships and marketing operations LO2 The political and economic changes affecting global marketing LO3 The connection between the economic level of a country and the marketing task LO4 The variety of stages of economic development among American nations LO5 Growth factors and their role in economic development LO6 Marketing’s contribution to the growth and development of a country’s economy LO7 The foundational market metrics of American nations LO8 The growing importance of trading associations among American nations 9-* International Time Zones Time zones make a difference Jet lag is an important problem Virtual meetings are difficult to execute: they can disrupt sleep and family life. of the three kinds of distances—miles, time zones, and cultural distances—time zones have the greatest influence on the success of their commercial efforts abroad.? Most countries maintain good trade relationships with contiguous countries An associated pattern of economic growth and global trade has emerged 9-* Multinational Market Regions The common time zones give the Europeans advantages in both Africa and the Middle East. Within each trading bloc described in Exhibit 9.1 are: fully industrialized countries such as the Unit
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