Why Global Marketing Is Imperative

Why Global Marketing is Imperative

1. The terms global, international, or multinational have different meanings.

a. Competition has changed in the last twenty years.

b. Old companies have declined and new ones have emerged primarily because of global influences.

2. There is more need for global cooperation.

3. Another profound change in the last decade is the proliferation of the Internet and electronic commerce.

4. By examining the top 100 companies in the world, profound changes can be observed.

c. The number of Japanese companies on the list fell from 24 in 1999 to 20 in 2002.

d. The number of U.S. firms in the largest 100 increased from 33 in 1990 to 40 in 2002.

e. As Japan has declined because of its numerous recessions, the U.S. has risen.

f. Two other countries, Canada and Australia, are also represented by 16 and six companies on the Fortune 2002 list respectively.

g. One of the biggest changes since 1990 has been the emergence of China.

5. The changes observed in the past 30 years simply reflect that companies from other parts of the world have grown in size relative to those of the United States.

h. Pressure is on executives in all countries to do better in the upcoming decade.

i. Political and economic events have also had an impact on the nature of global competition:

                  1). The demise of the Soviet Union.

                 2). The establishment of the European Union.

                 3). The establishment of NAFTA.

                 4). The deregulation and privatization of state-owned industries.

            c. Growth of Eastern Europe and Southeast Asia will also eventually have an impact on global marketing and business.

5.  The term “global” epitomizes both the competitive pressure and the expanding market opportunities around the world.

Evolution of Global Marketing

1. What is Marketing?

a. Marketing is essentially a...