The Globilization of Market

The Globalization of Markets Theodore Levitt writes, "Companies must learn to operate as if the world were one large market-ignoring superficial, regional and national differences" in the Harvard Business review. He further states that there are, "differences in national and international preferences. Gone are the days when a company could sell last year's models or lesser versions of advanced products in the less developed world and gone are the days when price margins, and profits …

…and globalization. Technology helps corporations determine human preferences and globalization help corporations determine economic realities. In conclusion he says, “Given what is everywhere the purpose of commerce, global company will shape the vectors of technology and globalization into its great strategic fecundity. It will systematically push these vectors toward their own convergence, offering everyone simultaneously high quality more or less standardized products at optimally low prices, thereby achieving for itself vastly expanded markets and profits”.