Global Market Environment

Global market environment Name Affiliation Course Tutor Date Global Market Environment The entire marketing environment involves creating and sustaining good relationships with consumers to ensure continuous profit-making in the industry. Therefore, marketers and all the other individuals in the field should get familiarized with the Global Marketing Environment to build strong and profitable relationships with the customers. An efficient market relationship ensures the continuous flow of goods and services such that the marketers will not have any setbacks due to unmoving commodities in the market. In this case, customers have already gained full trust in the products hence creating a sustainable market. The global marketing environment is undergoing significant phases of change due to the rapid growth of competition between different firms around the globe. This factor calls for successful marketers to keep updated with the revolutions in an attempt to maintain and increase the level of their sales. Most companies indulge in global marketing for survival and competition against foreign marketers who might enter the market with better products but at a relatively lower price (Ahmed, 2014). Global marketing involves the various activities going on outside the home market and which might affect the latter significantly, leading to instability in profitable customer relationships. In global marketing, marketers have a duty of getting more customers to buy the existing goods, venturing into other areas for the same products, develop new products in the current markets and make sure that they acquire new markets for the existing products for profitable continuity of the business. All marketers work towards achieving great value to enhance survival in the current competitive markets. Success in marketing originates from continuous hard work to ensure the maintenance of high-quality products continuous communication with customers. All investors work towards minimization of cost and maximization of prices. In the global market, such strategies will include getting the cheapest available raw materials and sources of labor to ensure the high productivity of products at low prices (Ahmed, 2014). Sellers must ensure that products are of good quality and acceptable brand according to the preferences, tastes, and choices of consistent customers. This plan promotes the maintenance of the ever buying consumers creating a sustainable market for the products. A company gains a competitive advantage in the market if it can overdue the available competitors by creating the best value and trust in products for the available customers. Competition exists either locally, nationally or globally depending on the type of products offered for sale by the...