![]() ![]() Marketer adapts to national or even local needs. Arrow Shirts, Gucci purses, Coca-Cola, RayBan glasses, Toyota cars, McDonald’s Hamburger, and-so on.Įveryone, everywhere wants many things they have heard, seen or experienced through TV, radio or other means of communication. ![]() Levitt’s article on “Globalisation of Markets” points out that world markets are being driven towards a converging commonality, i.e., consumer demand round the world tends to have similar needs, desires and expectations for the same product, e.g., Soni TV, Nokia mobile, Levi’s Jeans. Indeed, the process of globalisation on the supply side has already begun. This is the true explanation of the growth of global markets and the phenomenal development of multinational companies to fulfil the common worldwide demand. Hence, we are steadily witnessing the emergence of global markets having common needs and desires, i.e., common demand for products in many countries, particularly, after 1981. Marketers can also employ similar decision technology. There is also the trend in favour of Global Standardisation of Commodities (ISO). Both time and distance are rapidly shrinking on account of intensive and faster satellite communication, speedy transport, and free financial flows. In the last decade of the 20 th century many companies all over the world have started developing global marketing plans. Global marketing is especially important to companies that provide products or services that have a universal demand such as automobiles and food. Different strategies are implemented based on the region the company is marketing to. Proper global marketing has the ability to catapult a company to the next level, if they do it correctly. Global Marketing is the process of conceptualizing and then conveying a final product or service worldwide with the hopes of reaching the international marketing community. Kulkarni “Global marketing involves identifying needs, wants and demand of global customers and making the products/services available to them either through own manufacturing or outsourcing and distributing the product/service at the places convenient for consuming.” people, money and physical assets and objectives of an organization on global market opportunities and threats”Īs per Prof M.V. New Economic Policy since July 1991 has introduced Globalisation in India.Īccording to Warren J Keegan, “Globalisation is the process of focusing the resources i.e. MNCs can enter a number of crucial sectors. Indian companies can enter into foreign collaborations in India and set up joint ventures abroad. MNCs have freedom to import foreign capital. It means our economy is open to foreign direct investment by providing facilities to foreign companies to invest in different fields of Indian industry/commerce. Globalisation means integrating the economy of a country with the Global/World Economy.
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