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The Japanese Economy

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Dan Wise

on 3 December 2012

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Transcript of The Japanese Economy

One of the most dominant forces in Japan’s popular culture is Manga – a billion dollar comic book industry







Many of the comics are very violent,
considering Japan is a nation that forbids war, where guns are strictly controlled, and where the crime rate is extremely low Sean Bowman, Minghuang Shan, Rafaela Dominngues, Daniel Wise Japanese Culture is one of the most complex cultures in the world
Foreigners must have an understanding of Japanese culture before engaging in any business deals
It is easy to offend the Japanese if you lack a basic understanding of Japanese culture and manners The economy of Japan is the third largest national economy in the world after the United States and the People's Republic of China.
According to the International Monetary Fund, the country's per capita GDP (PPP) was at $34,739 or the 25th highest in 2011. 1) Introduction
2) Japanese History
3) Culture
4) Advertising
5) Marketing
6) International Exporting and Importing
7) Asian Tigers
8) SWOT Analysis Japanese Culture and History History
Japanese Life
Holidays
Business Etiquette
Manners Japan joined the Allied nations during WWI and siege control of the German-held territory in China and the Pacific, but mostly remained out of conflict
After the war, a weakened Europe left a greater share of international markets to the United States and Japan, which in return strengthened Japanese competition History The Japanese people have lived a long isolated life during the feudal period of the Japan, The Tokogawa Shogunate
Japan finally opened up to trade during the Meiji Restoration period, upon the arrival of the Black Ships
The Meiji restoration brought changes to Japan’s social structure, internal politics, economy, military, and foreign relations Japanese “industrial revolution” occurred during the Meiji Restoration
When the United States ended Japan’s isolation policy, Japan found itself defenseless against military and economic pressures from the West
Following Japan’s victory in the Russo-Japanese War (1904-1905), Japan emerged as an international power After WWII Japan was left a mess after the bombings of Nagasaki and Hiroshima
Japan established relations with China and the United States, this resulted in a general warming of relations between these two countries and Japan
Japan’s economy boomed during the postwar period. During the Korean war, Japan became a supplier for the UN which helped contribute to a further boom in their economy
Japan then emerged as a significant power in the manufacturing of: steel, cars, and electronic goods The Japanese life has a large focus around education
Japan has a literacy rate of almost 100%
Most Japanese live in apartments and single family houseing
Cafes and drinking coffee is popular in Japan. Japan imports 85% of Jamaica's coffee production
The Japanese use four writing systems: Romaji, Katakana, Hiragana, and Kanji During every meal the Japanese eat rice along with other food
Reading Manga and Watching Japanese anime are popular among Japanese youth
Most Japanese teens have a lot of pressure on them to do well in school
Graduating high school is a lot tougher than graduating college!! Japanese Life Holidays Hina Matsuri- The doll festival, celebrated by girls
New Year- Shogatsu, considered the most important holiday in Japan
Coming of Age- celebrated during the second Monday of January, the coming of age of 20 year old men and women celebrate this holiday
Valentine’s Day- Women give chocolates to men on Valentine’s Day
White Day- Men give women cakes or chocolate
Obon- festival to commemorate deceased ancestors
Respect for the Aged Day(Keiro no hi)- Respect for the elderly Business Etiquette You may be awarded a small amount of business as a trial to see if you met your commitments
If you respond quickly and with excellent service, you prove your ability and trustworthiness
Never refuse a request
Always provide a package of literature about your company (usually including articles and testimonials)
Always give a small gift
Business cards or “Meishi” are exchanged when meeting for first time and should be given and accepted with two hands. Be sure to observe the card closely Appointments are always required before setting up a business meeting. Telephoning is the best way
It is important to be punctual for the meeting. Always arrive on time
Japanese businessmen will always meet in a group of people, this is a group society
The most senior Japanese businessman will be seated furthest from the door, while the rest in descending rank until the most junior person is seated closest to the door
It may take several meetings for Japanese counterparts to become comfortable with you and be able to conduct business Manners Avoid staring someone in the eyes
Do not stick your chopsticks vertically into a bowl of rice
Do not pass food to someone else with you chopsticks
Polite to say “itadakimasu” before eating or drinking and “gochisousama deshita” to your host when leaving Never enter a house with your shoes on
When invited to a Japanese families house, present a small gift to them
Say “O-Jama Shimasu” or “sorry for disturbing you” when entering someone’s house
Always sit down to eat
It is ok to slurp your soup or noodles The Asian Tigers Korea Korea Export Treemap Has become a world leader in manufacturing information technology
In June 1989 panels held planning sessions on the production of new materials such as robotics, bioengineering, microelectronics, fine chemistry, and aerospace
Relies upon the exportation of finished products to fuel it’s economy Hong Kong The main export partners of Hong Kong are: China, European Union, USA, and Japan
Hong Kong’s main exports are: clothing, textiles, footwear, electrical appliances, watches and clocks, toys, plastics, and precious stones. Hong Kong Exports Hong Kong is the world’s freest economy and is the seventh largest port in the world
Hong Kong stock exchange in the 6th largest in the world
Hong Kong is the worlds 11th largest trading entity, with its total value of imports and exports exceeding its GDP. Singapore Combines economics planning with a free market system
Exports are primarily in electronics, chemicals, and services
Most companies in Singapore are registered as private limited-liability companies Singapore Exports (2006) Open-pro business environment
Singapore is known for its corruption-free business environment
Low tax rate (14.2 GDP)
Singapore has one of the highest GDPs in the world
Given the nickname “Singapore Model” because of its innovative yet steadfast form of economics Taiwan 19th largest country by PPP (Purchasing Power Parity)
18th in the world by GDP
Inflation and unemployment are low and foreign reserves are the world’s fourth largest
Taiwan’s strength is in it’s information technology industry Electronic components and personal computers are the areas of strength in Taiwan’s information technology center
Taiwan also exports plastics, basic metals, optical and photographic instruments, and chemicals
The main export partners are: China & Hong Kong, USA, Japan, Europe, and ASEAN countries SWOT Analysis The 3rd largest economy in the world


Automobile industry


Allied with the USA


World class education system Strengths Declining birth rate and long-life expectancy


Natural disasters


Reliance on exports


Fiscal budget deficit Weaknesses Private equity in Japan


Pro-reform political parties


Emerging market
Bank cross holdings

Young entrepreneurs decrease

Domestic savings and debt crisis

Zombie companies Threats Godzilla The Economy Of Japan Japanese Marketing Now collapsing profits have forced organizations to realize that the producer driven market is gradually beginning to change into a:
More competitive and
Consumer driven economy Japanese Marketing cont… Japan was primarily a producer driven market
In the past Japan’s consumer goods firms have been
Strong on innovation but
Weak on consumer research,
However this is beginning to change into a more competitive and consumer driven economy. Japanese Marketing cont… One of the most dominant forces in Japan’s popular culture is Manga – a billion dollar comic book industry
Many of the comics are very violent, considering Japan is a nation that forbids war; where guns are strictly controlled and where the crime rate is extremely low Iconological Interpretation Japanese language is very sparse in vocabulary that is neutral with regard to status differences.
Copywriters avoid condescension and attempt to express respect
The audience is commanded to buy from characters such as comedians, flirtatious women or timid children Iconographical analysis Advertising is seen as a form of entertainment in Japan
Advertising that is sexy and risqué is often seen in Japanese advertising
Examinations of mass-distributed magazines highlight the number of sex related products being advertised Iconological Description Japanese Advertising & Marketing Soft selling (emotional connection) and appealing to status is more common in Japan, whereas modernity/youth appeal is less common.
Brand building, consumer research and testing and creativity have all become vital aspects to marketers in Japan.
Direct mail, price-cutting and brand building are slowly gathering momentum. Japanese Marketing cont… Japanese styled marketing is based on sensitivity
American styles and words used in promotion are also seen as modern and high-status
Price should not be used as the major appeal to the Japanese buyer Japanese Marketing There are strict codes of public conduct, but no barriers to fantasy and imagination. Iconological Interpretation cont… Japanese culture believes ‘words are the root of all evil’
Facial expressions, length and timing of silences, seemingly meaningless grunts and body positions are forms of non-verbal language Iconographical analysis cont… Like western agencies, Japanese agencies are paid a percentage of the price of the television time or print space they buy for their clients.
In Japan media buying is the core of the business.
The average person in Japan watches 3-4 hours of television daily
Advertising is a medium of cultural information The Basics Japan was primarily a producer driven market

Now collapsing profits have forced organizations to realize that the producer driven market is gradually beginning to change into a:

More competitive and

Consumer driven economy Japanese Marketing cont… Japanese styled marketing is based on sensitivity

American styles and words used in promotion are seen as modern and high-status

Price should not be used as the major appeal to the Japanese buyer Japanese Marketing Advertising Japanese culture believes ‘words are the root of all evil’









Facial expressions, length and timing of silences, seemingly meaningless grunts and body positions are forms of non-verbal language Advertising Is seen as a form of entertainment in Japan

Advertising that is sexy and risqué is common

Examinations of mass-distributed magazines highlight the number of sex related products being advertised Advertising Japanese Advertising & Marketing Soft selling (emotional connection) and appealing to status is more common in Japan, whereas modernity/youth appeal is less common

Brand building, consumer research and testing and creativity have all become vital aspects to marketers in Japan

Direct mail, price-cutting and brand building are slowly gathering momentum Japanese Marketing Conclusion There are strict codes of public conduct, but no barriers to fantasy and imagination Japanese Marketing Influences on Advertising Japanese language is very sparse in vocabulary that is neutral with regard to status differences

Copywriters avoid condescension and attempt to express respect

The audience is commanded to buy from characters such as comedians, flirtatious women or timid children Advertising Like western agencies, Japanese agencies are paid a percentage of the price of the television time or print space they buy for their clients

In Japan media buying is the core of the business

The average person in Japan watches 3-4 hours of television daily

Advertising is a medium of cultural information Advertising: The Basics Historically, from 1979 until 2012, Japan Exports averaged 4 Billion JPY reaching an all-time high of 7.7 Billion JPY in March of 2008 and a record low of 1.2 Billion JPY in January of 1979. Export Exports in Japan decreased to 5.1 Billion JPY in October of 2012 from 5.4 Billion JPY in September of 2012.

"It is going from bad to worse for the Japanese export sector," Martin Schulz of Fujitsu Research Institute told the BBC. Export Historically, from 1979 until 2012, Japan Imports averaged 3.4 Billion JPY reaching an all-time high of 7.5 Billion JPY in July of 2008 and a record low of 1.4 Billion JPY in August of 1986. Import Imports in Japan decreased to 5.7 Billion JPY in October of 2012 from 5.9 Billion JPY in September of 2012.

Its main imports partners are: China, United States, European Union, Saudi Arabia and United Arab Emirates. Import Japan is the 3rd biggest economy of the world

It’s a very important country and economy Japanese Economy Opportunities
declining birth rate and long life expectancy


natural disasters


reliance on exports


fiscal budget deficit South Korea is the seventh largest exporter and tenth largest importer

Is still one of the world's fastest growing economies
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