Globalization Of Markets: Levitt's Premise (Essay Sample)
For this case study, we are going to look at the classic marketing article, The Globalization of Markets by Theodore Levitt. In the famous 1983 article, Levitt makes a case for a globalized approach to marketing and consumer behavior. Now that we have learned a lot in our class, let's use our learning to take a look at Levitt's argument. Here's a link to the article:
In at least a two-page academic paper, please answer the following questions:
1. Discuss the general premise of Levitt's argument and what type of global marketing he is advocating.
2. Based upon your learning of consumer behavior in class, do you agree with Levitt's approach to global marketing? Why or why not? (Please keep a neutral stance, there needs to be a balance between customization and global convergence)
3. Technology has created significant changes in globalism and consumer behavior since the writing of this article. Provide three to four ways you predict global consumer behavior will change in the next ten years.
4. Create at least two strategy recommendations learned from this article that you can apply to your future career in marketing or international business.
Please use Academic Sources from recognized business and marketing journals such as JBR or JCR
Globalization of Markets
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.
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 fr
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