Globalization Of Markets: Levitt's Premise

Globalization of Markets Student’s Name Institutional Affiliation Date Introduction The idea of globalization as discussed by Levitt declares that during the period in which there is competition globally, the tactics used by the most successful companies and industries during marketing is growing from presenting modified market blends to every individual nation market in the direction of presenting a particular typical market assortment globally. The aspects of promotion in relation to globalization have been majorly discussed, yet, the strategy that is concerned with the global merchandise has been ignored for ages. Addition of interest in the links when it comes to product policy and production has however been witnessed. With increased competition from the extra national companies that have been stressing associated production, the US companies and firms have come to a realization that novelty of products only cannot withstand their competitive place when there lacks a product policy that connects product and production inventions. The growing industries are increasingly using better methods to put up with the growing competition worldwide. The current competition globally is representing a competition environment whereby significance is majored on increasing the income and making the costs of products lower, as well as increasing speed and suppleness. Levitt’s Premise According to Theodore Levitt, most firms have been disheartened when it comes to sales in universal markets as the ancient markets become flooded and there must be mushrooming of new markets. There has been a problem when it comes to customization of products in accordance to the demands of the fresh markets, as well as the uncertainty of the products required by customers. Levitt believes that well-kept firms have transformed from focus on the customization of substances to giving internationally unvarying merchandises that are more reliable and found at a lower price as well. Many national firms that focus on characteristic customers’ partialities have become muddle...