StudentShare solutions
Triangle menu

Globalization of Markets - Book Report/Review Example

Nobody downloaded yet

Extract of sample
Globalization of Markets

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. It is contingent upon companies to address the new reality, as accurately described and defined by Levitt, if they are to remain competitive within the parameters of a globalised economy while, at the same time, exploit the economic potentials of this reality.
Limitations and future research direction
Levitt's article, as may have been deduced from the preceding, emerges as a definitive introduction to globalisation and its impact on international business operations. Levitt provides a precise and concise definition and discussion of this new reality, alongside a prescript for business and marketing strategies therein. He, however, leaves open the question of consumer perceptions of this new reality and whether indeed, tastes have become more transnationally homogenized. This would be a rich area for future research.
Background of the paper
Levitt's seminal article on the imperatives for, and rational behind, long-term market planning, was first published in the 1960 and since that time, has been reprinted in excess of a quarter of a million times. This stands as a testament to the importance of "Marketing Myopia," where Levitt sheds light on corporate tendencies to overlook changing marketing realities, seize opportunities for market growth and, in short, atrophy.
Conceptual framework and theory
Levitt does not adhere to a defined conceptual framework nor does he draw upon specified theories to present his argument. Nevertheless, it is possible to identify his theoretical framework as based on market evolution theory.
Main conclusions and contribution to marketing literature and practice
Business entities have long operated under the assumption that exponential population growth will ensure the continued growth of markets. Not only does Levitt debunk what he calls the "population myth" but goes on to warn that companies have failed to design and implement marketing strategies which would ensure the positive exploitation of existent markets. Indeed, through the ...Show more


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.
Author : parkermarc
Globalization of Markets essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the book report/review on your topic
"Globalization of Markets"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

International Newspaper Business Report about country Australia
This article juxtaposes the anticipated growth in Australia’s export business with the European debt crisis. The article implies that whereas the European debt crisis is expected to have a negative impact on international business, it will apparently not prevent Australia’s export business from growing in 2011-12 period.
21 pages (5250 words) Book Report/Review
Book Review: Globalization and the Least Developed Countries Potentials and Pitfalls by David Bigman
One of the worst problems is the division between the wealthy and the poor and the way this is impacting prejudice. Bigman states that “The rise in inequality is most visibly manifested by the accumulation of wealth in the hands of a narrow corporate elite and the super-rich, and by the growing gap between the LDCs (Least Developed Countries) and the developed countries” (xiii).
4 pages (1000 words) Book Report/Review
Utopian Economy and Markets
Most interesting was the fact that it promoted excludability as the goods purchased by one consumer becomes consumer’s exclusive item which cannot be consumed by others, even if the consumer does not use it.
3 pages (750 words) Book Report/Review
Rodrick, Dani 2011 The Globalization Paradox : Democracy and the Future of the World Economy
According to the author, individuals must witness the new arrangements in global economies that are based on deliberation of the populations where it is present, and that is within nations. The author argues that economists have, for years, driven forward the globalization cause in financial institutions, trade and labor markets.
3 pages (750 words) Book Report/Review
Globalization and Postcolonialism by Sankaran Krishna
One cannot ignore the other. Globalization is such a fast-moving phenomenon that free-market capitalism is aghast at the speed of its growth and the new challenges that it has brought forth. This is a historical development as the result of industrialization and internet revolution.
5 pages (1250 words) Book Report/Review
Current Topic on International Business or Globalization
In recent times, cross border and international business have been flourished after the establishment of General Agreement on Tariffs and Trade (GATT). Countries are joining community such as G20, G7 in order to flourish the multilateral trade between nations and bring economic prosperity.
5 pages (1250 words) Book Report/Review
Globalization of Democracy in Africa
Angola has been through civil war in the past three decades, and the gruesome events in Angola and Sierra Leone had catastrophic consequences for the people living in the region. The notion of 'blood diamonds' or 'conflict diamonds' resulted from media exposure to these events and prompted the United Nations and the international community to find mechanisms to exclude from international commerce any diamonds traced to rebel movements.
8 pages (2000 words) Book Report/Review
Rodrick, Dani 2011 The Globalization Paradox : Democracy and the Future of the World Economy
The author argues that economists have, for years, driven forward the globalization cause in financial institutions, trade and labor markets. Yet, consistent warning signs have
3 pages (750 words) Book Report/Review
Markets and Environment
However, this fact is not in line with economic planning. A firm has to put in place structures for production, promotion, distribution, selling and pricing. All these factors considered will define the nature of a
6 pages (1500 words) Book Report/Review
Globalization and education
Globalization was seen as the new savior of the world in terms of the wide economic gap between developed and developing nations. However, after some time of its diffusion across
1 pages (250 words) Book Report/Review
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
Comments (0)
Click to create a comment
Contact Us