How do comparative advantage and Internet technologies act as driving forces for the creation of global markets? Provide a specific example. The involvement of comparative advantage in the creation of global markets can be made clear by referring to the strategies used by the Japanese firms for entering the global market…
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The leadership style and the management techniques of Japanese firms were also elements of these firms’ systemwide advantages. These advantages were gradually transformed incorporating other elements, such as the brand name advantages (Porter, 1986, p.38). Through the decades the Japanese firms managed to improve their position in the global market using their comparative advantages – as explained above – in order to make their brand names popular. From this point of view, it could be stated that comparative advantage can have a crucial role in the creation of the global market. Internet technologies had also a crucial role in the creation of the global market. This fact is proved by the case of Amazon bookstore; the above enterprise managed to expand its activities worldwide by developing an effective electronic marketing scheme (Hollensen, 2007, p.87). Through the Internet the firm has been able to communicate with customers worldwide, to collect important data on the consumers’ preferences – in the context of the international market – and to arrange the delivery of its products in customers around the world (Hollensen, 2007, p.87). It is made clear that without the Internet technologies, the specific firm would not be able to enter the global market. References Hollensen, S. (2007). Global marketing: a decision-oriented approach. ...
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