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International Marketing Concept

International Marketing Concept

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Published by anmol

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Published by: anmol on Mar 04, 2011
Copyright:Attribution Non-commercial

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09/18/2012

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International MarketingConcept
 
G
lobalization
‡ Globalization is defined as a process of economicintegration of the entire world through the removalof barriers to free trade and capital mobility as wellas through the diffusion of knowledge andinformation‡ It is a historical process of moving at differentspeeds in different countries and in differentsectors‡ One of the results is that firms, whose output waspreviously significantly more limited by the size of their domestic market, now have the chance toreap greater advantages from economies of scaleby µbeing global¶
 
‡ The revolution in information and communicationtechnology (ICT) in the last 10-15 years has alsomade communication much cheaper and faster ‡ The transaction costs of transferring ideas andinformation have decreased enormously and thearrival of the Internet has accelerated this trend‡ This implies that countries with advancedtechnologies are best placed to innovate further ‡ Moreover, unlike in the past when inventions andinnovations were considered breakthroughs, todaythey are a regular occurrence‡ This implies that the transformation process iscontinuous and has far-reaching consequencesboth for the overall organization of firms and for policy making

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