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Global Market Research – A Key to Competitive Edge

Global marketing is identified by the Merriam Webster’s Book as “the process of advertising and trading manufactured things over a global market”. It is actually used to seek advice from the advertising practice through which products are produced and offered for sale in different market segments for different factors. For example a fresh toothpaste brand is promoted in the US since it has better taste and is certainly preferred with a large percentage of the public. The marketing practice therefore focuses on gaining market share to achieve financial goals. Therefore there is not any necessity to promote toothpaste inside the developing countries because because country there is a huge with regard to it. The true reason for this is that toothpaste will not be of any use to them and their only goal is to get cavities filled and save money.

Global marketing can be explained as the integration or harmonizing of domestic and global marketing practices to get financial desired goals. This practice has become required for understand the competitive advantages of any business in the current global marketplace. The concept of global marketing is definitely not fresh; however with the passage of the time it has become more important. With the creation of globalization, the companies currently have begun to promote their products in all the significant markets around the globe including Asia, Europe and Latin America.

The global sales strategies help to gain a competitive advantage within the competitors. To illustrate marketing in Asia facilitates the companies to lessen their fixed costs like cost to do business cost and labour cost. They also give attention to marketing their products in various segments with the market like high development markets, smaller middle school, students etc. By doing so they will attract a large number of customers by these sections which will lead to growth inside their business. This really is one of the major advantages for global researching the market for the betterment of any business.

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