The Globalization of Markets

Topics: Globalization, Corporation, Multinational corporation Pages: 4 (1108 words) Published: December 5, 2012
The globalization of markets
Theodore Levitt
Harvard Business Review, 1983
* Background
The powerful force booms the modernity and stimulates the people’s attraction for the high-tech products and high-touch products, and that force is technology. It results in the fresh reality-global markets. The isolated market and multinational corporations tend to be the global markets for the standardized consumption and price. Although it experienced the challengeable process, the influences of development of technology is far amazing, it enhances the trade among global nations and raises the living standards, work conditions. The most advanced consequences that global markets contribute to are the goods of the best quality reliability at the lowest price. The world’s needs and desires have been irrevocably homogenized and the competitors take strategic measures to adapt to the global market. * Living in the Republic of technology

The development of technology emerged the tendency for everything to become more like everything else. The tendency has pushed the markets toward global commonality and produced the standardized products with reasonable price. Apparently, the high-touch products exists every in the world, like Coca-Cola, Revlon cosmetics, Sony TV and McDonalds are all globally standardized and successfully dominate the markets. The products and methods from these worldwide operating companies play a single tune for the entire world and the entire world eagerly dances to it. Success in world competition focuses on the efficiency in production, marketing, and management, and the definitely price, no matter how large the market scale. From the surging success of the Japanese companies, we can clarify that high quality and low costs are not opposing postures, they are compatible, twin identities of superior practice. * Vindication of the Model T

The theory mentions that if a company forces costs and prices down and pushes quality and reliability up,...
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