Globalization And International Marketing Essay

MARKETING IN GLOBAL ECONOMY
INDIVIDUAL EASSAY

GLOBALISATION AND INTERNATIONALISATION OF PRODUCTS AND SERVICES

HISSAM MALIK
S00805291

ABSTRACT

The aim is to deepen the knowledge of globalisation and internationalisation of products and services in the marketing context. As the years go by we can clearly see the emergence of a global economy. The different economies of different countries are integrating together and buying and selling is done internationally. Due to this there is faster communication, financial transactions, transfer of technology and even transport. In a global economy, such integration of markets is known as globalisation. On the other hand, Internationalization refers to the process of planning and implementing

Ricks, Jeffrey S. Arpan and Marilyn Y have explained that it is very important to know the cultures and whereabouts in other countries otherwise you fail. Cultures and norms are very important and always have to be kept in mind if you want to be global. Even large MNCs struggle in host countries because of these reasons. Taking the examples of multinational companies can help in explaining what globalization and internationalization is. It is really important for companies to coop with the changing technologies and trends to compete in a global

For example, the majority of the world’s computers use Microsoft’s Windows operating system. Clearly, standardising of computer operating systems and platforms creates considerable benefits, but critics argue that this leads to a lack of product diversity, as well as presenting barriers to entry to small and local companies.

• Free market imbalance: Large multinational companies can easily switch their capital between different territories in search for the place with most favourable regulations. And then they can operate as local monopolies of labour and push the wages lower than the market equilibrium.

• Recession: the people who criticize globalisation also point out the potential loss of jobs in domestic markets due to unfair trade or an increase in trade. Globalisation can also increase the speed of deindustrialization which slowly kills an economy. This can lead to high unemployment or structural unemployment and could increase the gap between the rich and the