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How does global factors differ fromtechnological factors in the marketing environment?
Weegy: Global marketing has become vital for the growth of various organizations as a result of – • Saturation of domestic markets. • Liberalization of various developing economies like India. • Rapid technological developments that have enabled [ manufacturers to produce good quality products at low prices. This in turn, enabled these companies to enter new markets in developing economies, where they could leverage the advantage of their superior quality products. Global marketing will help multinational companies leverage the following advantages – • Marketers can source good quality materials from places where they are available at economical rates. • Multinational companies can reduce their development time and recover the investments in research and development rapidly by marketing their products in the global market. • By entering new markets, the companies can meet the expectations of the shareholders and capital market regarding earnings, growth objectives, and future prospects of the company. ............. Technological environment : Innovation is the new mantra of success for modern day marketers. With rapid technological advancements in the market, no player can afford to remain stagnant for a long period. Many multinational modern corporations like Phillips, Hewlett Packard, Samsung, Sony and many others are constantly attempting to beat their competitors by producing technologically advanced products. Technological edge is fast becoming a competitive advantage for many companies. This boom in technology is also supported by customers, as they are increasingly becoming techno savvy and demanding innovative and technologically advanced products. ................ ] (More)
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