topic 8 dq1

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Grand Canyon University *

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MKT450

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Marketing

Date

Jan 9, 2024

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docx

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Uploaded by sarahsprang142

Review the "Global Environment for Marketing" topic Resource. In your own words, explain the concept of globalization as it relates to marketing. Describe two benefits of globalization for an organization focused on both local and global growth. Support your ideas by citing the topic Resources. In replies to peers, provide feedback on the benefits they provided and include additional benefits that have not already been discussed. Examination of the "Global Environment for Marketing" in further detail demonstrates that, from a marketing perspective, globalization is centered on the increasing interdependence and consolidation of markets. People in developing nations, such as Morocco, are reportedly still adjusting to internet marketing and buying (Najoua Bennani, 2018). What this implies, as best as I can tell, is that there is a systematic way for organizations to increase their impact on a worldwide scale. To make matters worse, Morocco is only now figuring out how to utilize the internet, putting it at a technological disadvantage. That means they are blocked from resources like skilled workers, innovative tools, and necessities. Manufacturing costs per unit of products or services may be reduced thanks to globalization and economies of scale, which increase production efficiency. Products become more competitive in local and foreign markets because total profitability is enhanced due to efficiency improvements. Many businesses have discovered cost savings by sourcing components and materials worldwide. Moving specific tasks to regions with cheaper labor costs also reduces total expenditures. Manufacturers' ability to reduce costs and provide competitive rates makes products more enticing to purchasers globally.

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