Global Marketing Socialism 2

8/3/2019 Global Marketing Socialism 2

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GLOBAL MARKETING

TOPIC: SOCIALISM

PREPARED BY :PUTERI NURUL FARHANA ABD AZIZ

PREPARED FOR:

MADAM KHALILAH BT IBRAHIM



Socialism Especially Influenced by

Adam Smith

Wealth of Nations, 1776Laissez Faire Economics

Government does not interfere with

business --“hands off”



WHAT IS SOCIALISM?

Socialism: A political and economictheory that a country’s land, transport,

natural resources and chief industries

should be owned and control by thewhole community or by the state, andthe wealth should be equally

distributed.



SOCIALISM

Socialism does not have a commonmeaning. Different people include differentthings in it. However the basic thinking is the

same, i.e.; the government should have control over

economic activities, and private ownershipof land and capital abolished or put under

tight restrictions.

Bridge between Capitalism andCommunism



SOCIALISM DEFINITION

Dickinson defines it as,

Socialism is an economic organization of society, in which the material means of

production are owned by the whole community and operated by the organs,representative of, and responsible to the community, according to a general plan; all

members of the community are being entitle to have equal benefit from the resulting production .



SOCIALISM TERMINOLOGY

The term Socialism or Socialist can refer toseveral related things:

An ideology or a group of ideologies,

a state that exists or has existed.

In Marxist theory:

the society that would succeed capitalism,

and then develop further into communism.



HISTORICAL BACKGROUND

Industrial Revolutions

Threw thousands of handcraft workers into thelabor Market

Crowed slum were established around thefactories

Crimes, disease, hunger and misery were a wayof life

Industrial accident and no compensation forfamilies

No Rights of wage earner

Union were illegal



SOCIALISM’S PRINCIPLES

Egalitarianism(equality)Humankind will be unified and cooperative

Wealth owned in common, used for the common

goodCapitalism exploits the very people who create

society’s wealth.

Moralism

Division of rich and poor is evil



OWEN’S IDEOLOGY

People are formed by theirenvironment

Created better living conditionsBusinesspeople are not enough

concerned with their employees

Provided better hours, wages,benefits



EXAMPLE OF COUNTRY

People's Republic of China (since October 1, 1949)

Republic of Cuba (since January 1, 1959)

Lao People's Democratic Republic (since

December 2, 1975) Socialist Republic of Vietnam (officially in reunified

Vietnam since July 2, 1976, but in the North since1954)

Democratic People's Republic of Korea (sinceSeptember 9, 1948

http://en.wikipedia.org/wiki/China

http://en.wikipedia.org/wiki/Cuba

http://en.wikipedia.org/wiki/Laos

http://en.wikipedia.org/wiki/Vietnam

http://en.wikipedia.org/wiki/North_Vietnam

http://en.wikipedia.org/wiki/North_Korea

http://en.wikipedia.org/wiki/North_Korea

http://en.wikipedia.org/wiki/North_Vietnam

http://en.wikipedia.org/wiki/Vietnam

http://en.wikipedia.org/wiki/Laos

http://en.wikipedia.org/wiki/Cuba

http://en.wikipedia.org/wiki/China



SOCIALISM DEVELOPS AS A MOVEMENT TO DISPLACE CAPITALISM

Private individualsown and operatemeans of production

Private ownersprovide people with

goods and services Individual owners

make decisions

Government (representing people)owns and operatesmeans of production

Government

determines needs ofthe people

Government plansthe economy

CAPITALISM SOCIALISM



TYPES OF SOCIALISM

Utopian Socialism

State Socialism

Christian SocialismAnarchism

Marxian Socialism



Social Justice

Better allocation of resources

Improving productive efficiency

Social security and welfare

Economic stability



ADVANTAGES OF SOCIALISM

In environments with plentiful resources,socialism provides all members with theirsurvival needs, creating a stable social

environment.Members that cannot participate

economically - due to disabilities, age, orperiods of poor health - can still impart

wisdom, emotional support and continuity ofexperience to the system.



DISADVANTAGES

Since there is no culling and no economicadvantage to working harder, socialisticsystems provide no inherent incentive to

participate. This makes socialism internallyunstable.

Due to a lack of incentives, socialisticsystems tend not to be competitive, making

them externally unstable.



SOCIALISM IS THE NEW WORLD ORDER – HOW WILL MARKETERS SURVIVE?

Marketers need to LIE in order to be successful.

L: LISTEN: Trust is built by understanding and actingupon the needs of the customer. To understand theneeds, you need to listen in.

I: INFLUENCE: After Listening and Learning about thecustomer needs, you need to act on it in an authenticmanner.

E: ENGAGE: If you constantly listen and learn from thecustomer AND influence her by acting in a transparent

and authentic manner, you will engaged with customer..Customers are the most profitable. They providefeedback and suggestions They are willing to pay ahigher price



Misallocation of resources

Loss of economic freedom

Economic equality not achieved

Concentration of power in the state

Global Marketing Socialism 2

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