The Globalization of Markets Essay Example

y. The desire for the things people have learned about, witnessed, or encountered through new technologies is universal. As a result, global markets have emerged to cater to the demand for standardized consumer products on an unprecedented level.

Corporations that embrace this new reality experience significant advantages in production, distribution, marketing, and management. These advantages allow them to lower global prices and outcompete rivals that cling to outdated beliefs about the functioning of the world. Traditional distinctions based on national or regional preferences have disappeared. Moreover, it is no longer viable for companies to sell outdated or inferior products in emerging markets. Lastly, the time when prices, profit margins, and profits overseas were usually higher than domestic figures is now a thing of the past.