Evolution of global marketing

September 5, 2010

Marketing is the procedure through which companies promote its products or services to its customer. Marketing is basically done to create the customers and to convince their needs. In most countries markets are composed of local, regional and international brands. A local brand is one marketed in single country. A regional brand is one marketed throughout the region and an international brand is available virtually everywhere in the world.

Marketing emerged when the emphasis changed from importing products to exporting products. This change involved the global markets and thus evolved marketing globally. Advertising was used to introduce, explain and sell the benefits of a product especially branded products in the markets outside the home country. Previously when there was no concept of global market advertising was restricted to a particular region, but with the emergence of globalization in twentieth century new pattern of advertising a product internationally also become known. This evolution of global marketing where on one hand increased the business there on other hand it also increased the competition in the market. Now a product maintaining monopoly in a regional market also has a threat of competitors due to this market globalization.

One of the reasons of global marketing is the product reaching its saturation point in its home market. Although saturation of the home country market isn’t the sole reason companies venture outside the home market. Research shows market potentials for products in other countries, mergers and acquisitions with foreign businesses and moving into other markets is for preempting development by competitors.