Globalization And India 's Rising Demand For Foreign Brands : Lessons For Marketers

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Globalization and India’s Rising Demand for Foreign Brands: Lessons for Marketers
(Article Submitted to – Paradigm (2015): Nourishing the Intellect, Theme – Rising Stars Setting Suns).

Submitted By:
Aastha Verma Vohra
(Doctoral Student)
Faculty of Management Studies, University of Delhi,
Delhi-110007
Phone: 9811208423
Email: aastha178@gmail.com

Globalization and India’s Rising Demand for Foreign Brands: Lessons for Marketers
Globalization
Globalization is an inevitable phenomenon that is leading the entire world towards becoming one market, a global village. With the world becoming a single market, globalization has had a major contribution in enabling the organizations worldwide to step out of the restricted domestic markets and to set up their operations across the globe with confidence. This has largely led to a decline in the importance in national borders and a greater emphasis on what the consumers actually demand no matter the consumer is located in the very country in which the organization exists or an entirely different part of the world. Moreover, with the rapid increase in global competition, companies that strictly adhere to and cater to the needs of the local markets are finding themselves at a disadvantage and gradually losing the competitive advantage that they so much strived to achieve. However, for some products and services the tastes and preferences of consumers in different nations are beginning to converge on some global norm.

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