Buisiness Notes Globalization
Globalization drives more collaboration in international marketing activities among firms in co-marketing alliances, and such cooperation enables firms to enhance their international marketing effectiveness.
Globalization leads to increased competition. This competition can be related to product and service cost and price, target market, technological adaptation, quick response, quick production by companies etc. When a company produces with less cost and sells cheaper, it is able to increase its market share.
Customers have a large multitude of choices in the market and this affects their behaviors: they want to acquire goods and services quickly and in a more efficient way than before. They also expect high quality and low prices. All these expectations need a response from the company, otherwise sales of company will decrease and they will lose profit and market share. A company must always be ready for price, product and service and customer preferences because all of these are global market requirements.
Exchange of Technology
One of the most striking manifestations of globalization is the use of new technologies by entrepreneurial and internationally oriented firms to exploit new business opportunities. Internet and e-commerce procedures hold particular potential for SMEs seeking to broaden their involvement into new international markets.
Technology is also one of the main tools of competition and the quality of goods and services. The company has to use the latest technology for increasing their sales and product quality. Globalization has increased the speed of technology transfer and technological improvement, this allows marketers to utilise management techniques to further market their product to a wider customer base.
Knowledge/Information transfer
Information is a most expensive and valuable production factor in the current environment. Information can be easily transferred and exchanged from one country to another. If a company have a chance to use
Globalization leads to increased competition. This competition can be related to product and service cost and price, target market, technological adaptation, quick response, quick production by companies etc. When a company produces with less cost and sells cheaper, it is able to increase its market share.
Customers have a large multitude of choices in the market and this affects their behaviors: they want to acquire goods and services quickly and in a more efficient way than before. They also expect high quality and low prices. All these expectations need a response from the company, otherwise sales of company will decrease and they will lose profit and market share. A company must always be ready for price, product and service and customer preferences because all of these are global market requirements.
Exchange of Technology
One of the most striking manifestations of globalization is the use of new technologies by entrepreneurial and internationally oriented firms to exploit new business opportunities. Internet and e-commerce procedures hold particular potential for SMEs seeking to broaden their involvement into new international markets.
Technology is also one of the main tools of competition and the quality of goods and services. The company has to use the latest technology for increasing their sales and product quality. Globalization has increased the speed of technology transfer and technological improvement, this allows marketers to utilise management techniques to further market their product to a wider customer base.
Knowledge/Information transfer
Information is a most expensive and valuable production factor in the current environment. Information can be easily transferred and exchanged from one country to another. If a company have a chance to use