Global Orientation
Global Orientation Global marketing has the potential to bring a company to its proverbial next level. In order to understand how to thrive in global marketing one must first understand the conditions leading to the development and sustainment of global market. The need and environment for a global market stemmed from a number of factors. One factor is the rapid technological advances in equipment, communications, and transportation, which are all major drivers of both the ability and the desire of companies to expand globally. Advances in production equipment allows companies to create larger volumes of product which, when paired with the expanded customer base of a global market, can generate greater profits which can be reinvested into research and development efforts. These increases in product volume and profit are aided by faster communication and transportation, which serve to shrink the global marketplace and provide less costly methods for companies to distribute products, information, and financial flows. Another factor is the international system, which includes the development of the International Monetary Framework, trading blocs, General Agreements on Tariffs and Trade (GATT), and other such formations of international agreements facilitated by the spread of global peace. One final factor is the spread of awareness in disparate markets of different products and processes. In the process of forming international infrastructures, global experiences have served to change attitudes and behaviors of entire segments of domestic markets. Being exposed to ideas from around the world has affected these market segments’ tastes and professed needs, eventually leading to a convergence of world markets to global markets sharing common tastes and needs across geographical boundaries.
From a more conceptual angle, global markets derived from the Bretton Woods system of global free trade and are able to thrive under the policies of a hegemon, or
From a more conceptual angle, global markets derived from the Bretton Woods system of global free trade and are able to thrive under the policies of a hegemon, or
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