Rapid Globalisation

Technological and economic developments go on to shrink the distances between countries. The world is becoming global village due to advancement in connecting technologies. The world is shrinking quickly with the advent of faster communication, and financial flows and transportation. In Twenty-First century, the firms can no longer afford to pay notice only to their domestic market, no matter how big it is. Various industries are global industries, and those firms that operate globally get lower costs and higher brand awareness. At the similar time, global marketing is risky because of the reason, unstable governments, variable exchange rates, protectionist tariffs and trade barriers, and other excessive factors.

Global Marketing into the Twenty-First Century:

     I.  The world is shrinking rapidly with advent of faster communication, transportation, and financial.

     II. Domestic companies never thought regarding foreign competitors till they suddenly found them in their backyard.  Firm that stays at home to play it secure might not just lose its chance to enter other markets but also risks losing its home market.

     III.  However  some  companies  would  like  to  stem  tide  of  foreign  imports  via protectionism, this response would be just a temporary solution and, in long run, would raise the price of living and protect inefficient firms.

     IV. Longer that companies delay in taking steps toward internationalizing; the more they risk being shut out of growing global markets.

     V. A global firm is a firm that, by working in more than one country gains production, marketing, R&D, and financial reward in its costs and reputation that are not available in purely domestic competitors.