Reply to statement below in 100 words or more about Globalization of markets
Marketing globalization is a synergistic term combining the promotion and selling of goods and services with an increasingly interdependent and integrated global economy. It makes companies stateless, without walls, with the Internet an integral marketing and cultural tool. Nowhere is marketing globalization felt more than in the stock market. Stocks rise and plummet on the “news” that a product or service is not faring well in some part of the world. Take crude oil as an example. If the cost per barrel rises, prompting gas prices to shoot through the roof, some stocks will still fall. If one country’s political machine decries another nation’s goods or services are bad, but societal demand runs rampant, stocks run amok. Marketers plan with damage control in mind. So they “brand” products and services, or get the name of the product or service known, to promote them in as many countries as possible, with particular cultures in mind.
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