What Is The Globalization Of Markets?


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Nouman Umar answered
The globalization of markets means that the expansion and access of businesses to all over the world to reach the needs of the customers internationally. Now due to the advancement of technology and IT revolution there is less problems of boundaries. The main reason is due to the advent of the internet that has facilitated to the customers and companies to interact at a common place by just sitting it home and it decreases the cost of product and other costs as well which is the benefit for the both parties. Now the companies are able to sell its product and services internationally. It is commonly believed that the taste of the consumers living in the different parts of the worlds are now emerging now MTV has become local channel, ordinary people wear levis Jeans and the access to the McDonald pizza is very easy.

Now not only big multinationals but also small companies who were lack of resources can now reach the customers internationally. This all happened due to the globalization of markets. Many big markets have emerged into one single market due to the customer's needs and demands. So this gives benefits to the consumers and the producers as well.

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