REACTION PAPER ABOUT THE HISTORY OF GLOBAL MARKET

The global market is the process of producing goods and services of one country are
traded to people of other countries. The history of global markets is devoted to
exploring questions of globally integrated markets from a historical perspective.
Capital, Labour, Knowledge. Factors of production are increasingly allocated
competitively and across national borders. Firms and consumers find themselves
interlinked through a growing network of global markets. 

I believe that going global means venturing into new markets around the world;
markets constitute people with different values which in most cases become
determinants of what they consume. Going global must be preceded by market
research. Effective market research will take time and funds. Carrying out market
research is extremely important if the process of going global must be successfully
carried out. Developing a global marketing strategy helps your business in many
ways. The first way is that marketing globally improves the effectiveness of your
company’s products and services.

In conclusion, Globalizing business activities require advanced planning as many

aspects must be considered. Due to the detailed planning especially at the initial
stages, the process becomes costly and consumes a lot of time. By globalizing
business activities, a business benefits from increased sales and diversifies the risks
associated with the local market.