GLOBALIZATION TECHNOLOGY & SOCIAL CHANGE
Global markets
Source: http://globalmarkets.jmls.edu
What is Global Market
Global markets are the process of selling and buying of goods and services between all around the world. Global markets allow to trade products from one country to another. It allows to develop markets in different countries, by making plan of how to build a market to other countries, what to produce, what to sell and what services to provide for the customers. According to the article, globalizations of business helps to expand the global markets by reaching out to more customers in different countries by giving them new markets with new products. Which is a good thing for both the markets owners for being able to sell more products, and expand markets faster. Also, the customers for being able to access to the markets.
Read more here: https://www.ukessays.com/essays/marketing/the-advantages-of-global-marketing-marketing-essay.php Before the developments of technology, transportation of products and for people was so hard. It used to take months for the products to be ship from one to another places and also it was hard for people to travel for marketing. It takes lot of time for people to travel and to trade products worldwide. Where as, now it's much more quicker.
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According to the article: The 10 biggest global companies are:
(excluding oil and energy)
(excluding oil and energy)
- Wal-Mart
- Toyota
- Volkswagen
- Japan Post Holdings
- Glencore International (commodities)
- ING (financial services)
- General Motors
- Samsung Electronics
- Daimler
- General Electric
Advantage of global marketing
1. Business turns to global markets, which increases its opportunity to grow more.
2. Gain more customers, sell more products.
3. Earn more profits
4. Owners develop more skills by marketing worldwide.
5. Gain experiences
Disadvantage of global marketing
1. More competition over different brands and producers.
2. Customers' need and desire might be different than what the owners have produced already in the markets.
3.Customers response might be different.
4. If the markets is not universal demands like grocery markets, than it might not fit into everyone's cultures and believes
1. Business turns to global markets, which increases its opportunity to grow more.
2. Gain more customers, sell more products.
3. Earn more profits
4. Owners develop more skills by marketing worldwide.
5. Gain experiences
Disadvantage of global marketing
1. More competition over different brands and producers.
2. Customers' need and desire might be different than what the owners have produced already in the markets.
3.Customers response might be different.
4. If the markets is not universal demands like grocery markets, than it might not fit into everyone's cultures and believes
Reference
“The Advantages Of Global Marketing Marketing Essay.” UKEssays, www.ukessays.com/essays/marketing/the-advantages-of-global-marketing-marketing-essay.php.
Global Marketing | What Is Global Marketing?, www.marketing-schools.org/types-of-marketing/global-marketing.html.
Shethna, by Jesal. “International Marketing vs Global Marketing (10 Differences).” EduCBA, 3 May 2017, www.educba.com/international-vs-global-marketing/.
By: Rima Begum