The Future of Global Marketing

“E-business is the final nail in the coffin for bureaucracy at GE. The utter transparency it brings about is a perfect fit for our boundaryless culture and means everyone in the organization has total access to everything worth knowing”

We live in the century of globalization where we can imagine the whole world as a global village. Thus the concept “Marketing” passed from national stages into international and global stages. The goal of a person who leads the marketing department of a business, organization or a nation is to identify new markets and prospects. Kotler (2000) stated that the future isn’t ahead of us. It has happened. Consequently, the strategic mission of marketers is the continuing effort to find markets in all over the world. Keegan (2001) stated that there will be only one standard for corporate success: international market share. The winning corporations will win by finding markets all over the world.

Keegan (2001) indicated the following six changes which have been distinctive as revolutionary changes in the world:

1.      World growth: Many of the poor countries of the world, which have always been poor, are getting richer faster than the rich countries of the world.

2.      The world economy dominates: The world economy is the dominant economic unit.

3.      End of the so-called trade-cycle decision rule: The old trade-cycle model must be revised.

4.      Free markets rule the world: The 75 year contest between capitalism and communism is over.

5.      Accelerating growth of global markets: Global markets will grow at rates that were once thought impossible.

6.      The rise of the Internet and information technology: As Jack Welch, CEO of GE indicated that e-business is revolutionizing the way the world does business.

 The substantial changes in regard to the global environment have changed the rules of the business game. New emerging markets, substantial effect of the Internet, rapid development of transportation and connection of the world, and strategic alliances changes everything in the global markets.

The internet online revolution has empowered the average person like never before. They now live in an era where the control of supply & demand has been taken away from big business & opened up so anybody with a computer can make money quick, get easy make money online. Fact things are never ever going to be the same again. The net has absolutely & radically changed the nations of the world forever. The access to information & much improved communications means that the world is now much smaller. With ease they can speak to & socialize with people from all over the planet. In addition to this there's plenty of more business opportunities based around simple trading models that has made earning money speedy a liberating reality for tens of thousands of ordinary people³. Thus, the Internet has been called as a ‘Super-Highway’ of technology.

Global markets will continue to grow in importance as global marketers continue their quest to identify and serve global segments. This growth will enhance and expand the value of global experience for managers and executives.

The growth of electronic networking in all forms is remarkable. Clearly the information economy has arrived. What is yet to be determined is how it will impact each individual industry and business. The challenge for marketers is to determine how information can be most effectively utilized to meet the needs of the customer and satisfy the objectives of the organization.

‘Within a few years, the Internet will turn business upside down. Be
             prepared—or die’