Impact Of Globalization On The Marketing Industry Essay

1252 Words Dec 2nd, 2016 6 Pages
Today’s modernizing world would not be possible without the use of globalization as it virtually improves and reaches all aspects of life. Without the process of globalization many essential products, goods and services would not be available on the market, due to trade barriers. Globalization consists of interactions between trading countries to promote free trade worldwide and allows businesses to operate in innovated ways. This paper will focus on the effects globalization has on the marketing industry, the opportunities an open economy without trade barriers can create for marketers, the challenges open economies face, and how globalization will develop marketing strategies in certain areas of the world more than others.
Globalization is perceived by many people as the stepping stone towards world peace as it involves of the world 's countries coming together as one to promote economic equality and reduce world poverty. A business review by (Naghi, 2013) outlined many of the benefits globalization will have upon marketing but also some drawbacks the industry will be challenged by.
Globalization would offer many advantages to the marketing industry to improve and expand publicizing processes. A major component of marketing involves the consumer 's decision process which is based on the consumer’s willingness to pay for a particular item. Globalization will essentially lower the costs of products by allowing companies to outsource and offshore manufacturing to…

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