Global Market

Essay by prettynicky4College, UndergraduateA+, December 2008

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Global marketing is defined as the sale of a good or service to every corner of the globe. Being involved in the global market is very important if you want to your company to succeed and grow. More than ninety percent of all companies believe it's important to send their employees on assignments in other countries. This helps employees get a better understanding of what exactly is going on outside of the United States, which later leads into employee motivation and growth. Trading with other countries is the main focus of the global market. The global market includes such things like food, raw materials, clothing, and technology. Also the global market brings a new way of growing such as the entertainment market which includes movies or sporting events. When it comes to shaping the global market there are many strategies that are used to increase the growth of a particular market.

Along with strategies there are also forces that affect the market and how it performs. The world trade organization is important in that it focuses on mediating trade disputes among nations. Another important factor that affects the global market is the relationship between the United States and the European Union.

Trading with other nations is important for many reasons. Firstly, no nation can produce all of the products their people want or need. Secondly, some nations have an abundance of nation resources while others have sophisticated technology. Free trade is a pact between two countries or area in which they both agree to lift most or all tariffs, quotas, special fees and taxes, and other barriers to trade between the entities. The purpose of free trade is to allow faster and more business between the two countries or areas, which should benefit both. There are many advantages for free...