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Global Market Research — A Key to Competitive Advantage

Global advertising is defined by the Merriam Webster’s Dictionary as “the process of marketing and merchandising manufactured merchandise over a global market”. It can be used to reference the marketing practice through which products are designed and offered in different market segments for different reasons. For example a new toothpaste brand is bought in the US as it has better taste and is certainly preferred with a large percentage of the human population. The promoting practice in that case focuses on attaining market share to achieve financial goals. Therefore there is not any necessity to market toothpaste in the developing countries because because country there is also a huge demand for it. The explanation for this is that toothpaste will not be of any use for them and their only purpose is to get major filled and save money.

Global marketing can be explained as the integration or perhaps harmonizing of domestic and global promoting practices to get financial desired goals. This practice has become required for understand the competitive advantages of any business in the current global market. The concept of global marketing is certainly not new; however with the passage of your time it has become more important. With the associated with globalization, the companies include begun to sell their products out of all key markets across the world including Asia, Europe and Latin America.

The global marketing strategies help to gain a competitive advantage over the competitors. By way of example marketing in Asia facilitates the companies to lessen their fixed costs like cost cost and labour price. They also give attention to marketing goods in various segments of the market like high expansion markets, decrease middle category, students and so on. By doing so they will attract a large number of customers coming from these sections which will result in growth inside their business. This really is one of the major factors behind global researching the market for the betterment of any business.

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