Globalization of Markets

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Book Report/Review
Miscellaneous
Pages 11 (2761 words)
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In the "Globalisation of Markets," Theodore Levitt raises the question of corporate behaviour within a globalised market place. The study derives its impetus from the phenomenon of the internationalisation and unification of global markets and clarifies the challenges and opportunities which confront corporations therein.

Introduction

Therefore, while the study is framed by classical international marketing and business theory, it extends beyond the stated to propose a globalisation marketing theory.
Levitt's research relies on secondary data, observation and statistical evidence pertaining to the globalisation of markets via technological innovation and the emergence of global products. He does not define his research strategy, nor does he clearly specify his data sources. This, however, does not detract from the value of his study as what emerges is a highly valuable and well-articulated explanation of an emergent market phenomenon.
Levitt concludes that the world has become flat and that corporate entities must tailor their marketing strategies for greater consistency with this new reality. As he contends, the flattening of the world/globalisation, has led to the evolution of the global consumer, with the implication being that consumer preferences are no longer determined by geography and culture. In addition, emergent technologies have transformed economic realities in such a way that national borders are increasingly porous, thereby facilitating the transnational flow of goods and services. ...
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