The Global Marketing Task

The opening of previously closed economies has led to greater global market opportunities but also to the threat of disruptions by terrorism and anti-globalization forces.

A lot of businesses are going global today. Ten or 15 years ago, global business was mainly in the hands of a select number of multinational giants. Small and medium-sized businesses concentrated on their home markets and perhaps one or two neighboring countries. Not so any longer. Even the smallest businesses have realized that they have something to market in faraway countries, many of which have recently opened to foreign competition. Today, companies of all sizes in various industries from many countries are actively competing in the world’s markets.

As long as world markets remain open and terrorism and anti-globalization forces are under control, there is no stopping the spread of global competition. No markets are immune, as even government procurement business is open to foreign suppliers. Deregulation and privatization confront sleepy public utilities with new and vigorous competitors, sometimes from countries in the same trading bloc.1 Efficient foreign competitors from leading countries enter previously protected country markets and flush local companies out of comfortable market pockets. The lesson for all is that no market position is secure without attention to customer satisfaction and constant innovation.

The lesson is that intense competition at home and abroad forces a company to be internationally competitive. Today’s global marketing manager must understand and learn from foreign competitors and foreign customers.