GLOBALIZATION OF MARKETS

Theodore Levitt is often considered to be the first to recognize the trend towards globalization and states that: “companies must learn to operate as if the world were one large market – ignoring superficial regional and national differences…” In addition, he argues that the companies that do not adapt to the new global realities will become the victims of those that do.

Theodore Levitt’s 1983 article about the globalization of markets is one of the most discussed essays on this subject. Many companies have become disillusioned with the sales in the international marketplace as old markets become saturated and new ones must be found. Levitt in his essay asserts that well-managed companies have moved from emphasis on customizing items to offering globally standardized products that are advanced, functional, reliable and low priced. Only global companies will achieve long-term success by concentrating on what everyone wants rather than......

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Title: Globalization Of Markets
Approximate Word Count: 769
Approximate Pages: 4 (250 words per double-spaced page)

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