Short essay on the Gobalization of Markets.
Date Submitted: 09/28/2004 08:38:33
Category: / Business & Economy / Marketing and Advertising
Length: 2 pages (463 words)
Category: / Business & Economy / Marketing and Advertising
Length: 2 pages (463 words)
Mkt 601- Marketing Management
Summary
Twenty years ago, Theodore Levitt published his summation of the Global Market Place, entitled "the Globalization of Markets", in the Harvard Business Review. Within his review he described the emergence of a truly global market for informed consumer products. As a visionary, he predicted that advances in communication and transportation would pave the way for informed consumers to participate in a convergence of tastes. These technological advances has simplified and …
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…needs and curiosity.
Multinational companies must try to keep in touch with the needs of the people in its target segment. They must segment the markets based on geographical area, customs, and religious beliefs, and cater their products to individual regions in some cases. It's all about giving the consumer what they want with the right balance between price and quality.
Reference
The Return of the Global Brands by john Quelch, Harvard Business Review. August 2003.
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