Globalization and Marketing
Introduction
Marketing can be defined as a discipline that involves researching and developing a product and then facilitating the sales and distribution of said product to the general public. Marketing has been around for a long time, and has been constantly evolving to meet the needs and purchasing behaviors of consumers. Marketing today is very different from what it used to be a few decades ago, mainly due to a rapidly changing world economy and the development of fast and virtually free knowledge distribution and exchange. Marketing faces many new challenges in the 21st century but none for important than the surge of globalization and information technology, both which impact current businesses more than any other factors. These 2 challenges can make or break a business and it requires the implementation of brand new strategies to cope with the rapidly evolving global market we have today.
Globalization
Globalization, as Wikipedia defines it, is a complex series of economic, social technological, cultural and political changes seen as increasing interdependence, integration and interaction between people and companies in disparate locations. With the onset of technological advancements within the past decade, globalization has never been faster. Airplanes and jets shrink geological distances whilst the surge of the internet, telephone and satellite television shrinks cultural distances. The flow of information and improvement of logistic has thus allowed companies to expand their market worldwide in a very small amount of time. It is very evident today that the impact of globalization, regardless of size, is visible in our everyday life. For example, the coffee we purchase on our way to work is a hybrid product. The coffee beans were probably cultivated in Latin America, the Espresso machine made in Europe., while paper cup the coffee was served in produced locally. Globalization has infused a certain amount of complexity in current market
Marketing can be defined as a discipline that involves researching and developing a product and then facilitating the sales and distribution of said product to the general public. Marketing has been around for a long time, and has been constantly evolving to meet the needs and purchasing behaviors of consumers. Marketing today is very different from what it used to be a few decades ago, mainly due to a rapidly changing world economy and the development of fast and virtually free knowledge distribution and exchange. Marketing faces many new challenges in the 21st century but none for important than the surge of globalization and information technology, both which impact current businesses more than any other factors. These 2 challenges can make or break a business and it requires the implementation of brand new strategies to cope with the rapidly evolving global market we have today.
Globalization
Globalization, as Wikipedia defines it, is a complex series of economic, social technological, cultural and political changes seen as increasing interdependence, integration and interaction between people and companies in disparate locations. With the onset of technological advancements within the past decade, globalization has never been faster. Airplanes and jets shrink geological distances whilst the surge of the internet, telephone and satellite television shrinks cultural distances. The flow of information and improvement of logistic has thus allowed companies to expand their market worldwide in a very small amount of time. It is very evident today that the impact of globalization, regardless of size, is visible in our everyday life. For example, the coffee we purchase on our way to work is a hybrid product. The coffee beans were probably cultivated in Latin America, the Espresso machine made in Europe., while paper cup the coffee was served in produced locally. Globalization has infused a certain amount of complexity in current market
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