MARKETING-W/MINDTAP ACCESS CARD
12th Edition
ISBN: 9781305427198
Author: Lamb
Publisher: CENGAGE L
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Chapter 5, Problem 1LO
Summary Introduction
To discuss: The significance of global marketing.
Global marketing refers to the process of bending the strategies of marketing of the organization to adapt to the prevailing conditions of the other countries.
Expert Solution & Answer
Explanation of Solution
The significance of global marketing is as follows:
Companies or business people who implement global vision they are better in identifying global marketing opportunities and compete against external competition in home markets, create effective strategies of global marketing, and understand the nature of global systems.
Large companies has traditionally been the main global competitors but many small businesses are entering the international markets. In spite the fear of job losses to other countries with cheaper labor, there are various advantages to globalization, which includes the increase in standard of living and reduction of poverty.
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MARKETING-W/MINDTAP ACCESS CARD
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