The paper ' Globalization and Global Marketing' is a great example of a Marketing Term Paper. Globalization has changed the way in which businesses that operate internationally carry out their activities. Many large businesses have to market their products globally in order to reach a wider market that comprises the populations in different countries and regions. Because of globalization, a company can manufacture its products in one or several geographical locations and market the products in different countries or regions in the world. This is facilitated by the factors that characterize globalization, such as improved transport and telecommunication infrastructure, increased cross-border movement of people and capital, and enhanced sharing of information across different networks due to advancements in information communication technologies.
With these changes, companies that want to increase their sales have to market their products globally, especially targeting countries that are characterized by increasing incomes as well as increasing demand for the products in question. While targeting the global market, multinational corporations (MNCs) have to make a decision as to whether to market their products as standardized products across all countries or regions or to adapt the products to suit the needs of different markets across the world. Based on the background information above, this essay will discuss the concepts of globalization and global marketing with reference to the debate around standardization versus adaptation of marketing operations.
The paper is structured as follows. In order to provide a clear understanding of the various concepts involved, the essay will provide definitions of the various terms. Thus, to start with, the definitions of global marketing and globalization will be provided so as to highlight what the concepts are about.
This discussion will be supported by reference to how the concept of globalization affects markets, cultures, incomes, and other issues that are related to the marketing of products. The second aspect of the essay will entail a discussion on the current trends in global marketing. This section will provide the definitions of the terms ‘ standardization’ and ‘ adaptation’ as well as the contingency approach that entails assessing whether an organization has to pursue standardization or adaptation based on the organization’ s situation.
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