Globalization according to Dennis Flynn and Arturo Giraldez is the permanent existence of globular trade, when whole major zones of the world exchange products continuously and on a scale that generates deep and lasting impacts on all trading partners. Globalization describes the process by which regional economies, societies, and cultures study become integrated through a orbicular communicate of political ideas through communication, transportation, and trade.
Global Standardization: Current Trends in the orbicular markets indicate that world(a) customer needs and interests be becoming homogeneous worldwide. Various companies like Apple intentional products that crater to the needs of global customers. Customers today argon universally not willing to trade-off specific features for a turn away price. In many product and help markets an interest in multiple product features, product quality and service are given more importance. Companies around the globe are producing products and service that crater to the needs of various customers and countries. International companies like Honda entered into an bail bond to with a local anaesthetic player in India to enter into the local markets.
Thus facilitating the international companies to better understand the new markets and piddle products that are specific to the country.
Global Market Segments: Marketing of global products to various global segments enables development of a uniform global image throughout the world. The existence of global segment is a key motivating factor for developing a global product and brand strategy. Standardization of strategy and operations across a number of countries may also enable the acquisitions of growing of specific types of expertise. Improvements in technology and communication systems have easily increased capacity to manage operations on a global scale and hence facilitate the global standardisation strategies.
In the past governments of various countries had very...If you want to get a full essay, order it on our website: Orderessay
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