How Globalization changed Marketing Strategy?
Can anyone please answer the following question? Appreciate a lot. Thanks.
How Globalization and Technology changed marketing and marketing management strategy?
Hi Cupid Wan,
Since you have been using the Yahoo Answers for a few years now, I think you already know part of the answer. Technology has allowed expansion of a marketplace from what was once very local to what is now worldwide. In terms of products with significant associated costs and size, such as houses and buildings and, to a lesser extent, automobiles, local markets still rule most of the time. But technology has made intellectual property available world-wide in an instant, whereas even 15 years ago a book would have to be shipped. Globalization really has only become a force due to technology, and this is a boon to almost any business that chooses to capitalize on it, since an intellectual property market now exists world-wide, and many inexpensive or no-cost informational materials can be sold worldwide for almost no cost at all. An ebook takes little time and money to create, but a million copies can be sold in less than a day for a massive profit. A traditional publisher certainly can generate a million sales of a good book, but after printing costs, marketing costs, shipping costs, and tariffs or port fees, the profit margin is heavily impacted.
Globalization has also expanded the sales of hard-line items to a large extent, from foreign cars, to building materials, to tropical berries, to medicines, and more by opening communication lines that formerly were much more challenging and unreliable (overseas mail, telephone, and a lengthy paper-trail). As the internet has expanded world-wide, an online order form and instantaneous purchase has streamlined the buying process.
And last, but not least, globalization has allowed people all over the world to be exposed to all sorts of different peoples and cultures. This has created demand for products that not too long ago were limited to tourism. Now when a buyer reads about a Chinese jade necklace, or an Indian Sari, or a book by an Iraqi author, they simply do a search and buy what they want.
If this answers your question, then I am glad I could help!
My best,
Dave Cleinman
http://www.davecleinman.com
Hi Cupid Wan,
Since you have been using the Yahoo Answers for a few years now, I think you already know part of the answer. Technology has allowed expansion of a marketplace from what was once very local to what is now worldwide. In terms of products with significant associated costs and size, such as houses and buildings and, to a lesser extent, automobiles, local markets still rule most of the time. But technology has made intellectual property available world-wide in an instant, whereas even 15 years ago a book would have to be shipped. Globalization really has only become a force due to technology, and this is a boon to almost any business that chooses to capitalize on it, since an intellectual property market now exists world-wide, and many inexpensive or no-cost informational materials can be sold worldwide for almost no cost at all. An ebook takes little time and money to create, but a million copies can be sold in less than a day for a massive profit. A traditional publisher certainly can generate a million sales of a good book, but after printing costs, marketing costs, shipping costs, and tariffs or port fees, the profit margin is heavily impacted.
Globalization has also expanded the sales of hard-line items to a large extent, from foreign cars, to building materials, to tropical berries, to medicines, and more by opening communication lines that formerly were much more challenging and unreliable (overseas mail, telephone, and a lengthy paper-trail). As the internet has expanded world-wide, an online order form and instantaneous purchase has streamlined the buying process.
And last, but not least, globalization has allowed people all over the world to be exposed to all sorts of different peoples and cultures. This has created demand for products that not too long ago were limited to tourism. Now when a buyer reads about a Chinese jade necklace, or an Indian Sari, or a book by an Iraqi author, they simply do a search and buy what they want.
If this answers your question, then I am glad I could help!
My best,
Dave Cleinman
http://www.davecleinman.com
References :
It hasn’t changed strategy at all.
Technology is a way to describe a marketing tool.
Strategy is designed with a brain.
References :