Competition in foreign and global environment

Now the rest of the world is racing to catch up. Virtually every important trading partner has declared innovation to be central to increasing productivity, economic growth, and living standards. They are implementing ambitious, farsighted, and well-financed strategies to achieve that end.

Competition in foreign and global environment

Small businesses tended to be local. Today, going global is not only a possibility, it is almost a necessity. Consumers, businesses and governments have become accustomed to searching for the best products and services worldwide.

As business makes country boundaries less and less rigid, your company must learn to compete on a larger playing field. Increased Competition Through Technology You are part of a global economy whether you want to be or not.

Companies market goods and services across borders using the Internet.

The New Global Competitive Environment - Rising to the Challenge - NCBI Bookshelf

That means you may find welcome markets far from your doorstep. Customers don't care where you are, except for concerns about shipping costs. If you can find ways to ship affordably, you can seek markets wherever they may be.

You not only can market through the Internet, but you can collect payments electronically from almost anywhere in the world. You can also send payments for supplies and shipping to almost any location -- but so can your competition.

It's important for you to master electronic transactions because the people who are trying to outdo you already know how to transfer money globally.

You may think you are dominant in your local market, but companies from around the world have access to your customers. Only by competing on a global scale can you secure market share.

You face global competition daily. Be prepared to use your competitors' tactics, which means marketing globally. Innovation Goes Global Quickly When you introduce innovations to the marketplace, copycats are waiting to pounce on your idea and introduce it to other markets.

It's in your best interest to find those other markets before others do. There was a day when you could take your time exploring a local market and then move gradually into other markets.

Today, you are more likely to succeed if you move into global markets simultaneously with your local market. Global Brand Recognition Your brand can become recognized worldwide based on a simple website.

In addition, any articles you publish as an expert in your field, along with marketing efforts, can promote your brand to people thousands of miles away. It's important to recognize that all of your brand promotion has a global audience, even if you tend to focus on needs in your region.

Though international customers may not buy from you at the present moment, when you do start marketing to them, there's a chance they will recognize your brand.


When you talk up your brand, speak to the world.Reason for locating value chain activities for competitive advantages is lower wage rates, higher worker productivity, lower energy costs, fewer environmental regulations, lower tax rates, lower inflation rates, proximity to suppliers and technologically related industries, proximity to customers, lower distribution cost and available or unique natural resources.

Just as competition between liberal democratic, fascist, and communist social systems defined much of the twentieth century, so the struggle between liberal democracy and digital authoritarianism is set to define the twenty-first.

Let's look at the foreign and domestic competition sections of the marketing environment. The competitive environment deals with the number of competitors in the market and the size of the. Increased Competition Through Technology.

You are part of a global economy whether you want to be or not. Companies market goods and services across borders using the Internet. To do this, the United States not only needs to become a more active participant in the global economy—we also need to play a real leadership role in championing the expansion of trade agreements and foreign investment.

environment is, in fact, that the market was open to global competition.

Competition in foreign and global environment

Vehicles and parts imported into the US market on average face a very low tariff, while.

Competition in Foreign and Global Environment - Research Paper Example