Question

Which of these companies exemplifies the globalization of markets? a. The clothes of Sea Shell Fashions, a U.S.-based company, are hand-sewn by workers in India. b. The accounts of a U.K.-based finance company are maintained and managed by an accounting firm in the Czech Republic. c. Fluffy Pillows, a U.S.-based pillow company, sells the same pillows worldwide. d. Iconic Industries Inc., a U.S. energy company, has generated capital from investors all over the world. e. Wine producer Violet Wines procures high-quality grapes from neighboring countries.

Answer 1

Answer:

c. Fluffy Pillows, a U.S.-based pillow company, sells the same pillows worldwide.

Explanation:

Globalization of markets occurs when different markets in the world are integrated and merged into just one market when similar tastes, preferences, norms, convenience and values are identified which facilitate a gradual change in culture towards the use of similar commodities.

The the sale of the same pillows worldwide by the U.S.-based pillow company, Fluffy Pillows, is a good example of globalization of markets .This is because the company has been able to integrate and merger all the pillow markets in the world to just one and has therefore facilitated a gradual change in tastes and preferences for its pillow making the use of the same pillow possible worldwide.

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Answer 2

Answer:

c. Fluffy Pillows, a U.S.-based pillow company, sells the same pillows worldwide.

Explanation:

Although it can be argued that all provided options have some form of globalization and international business; the option that really addresses 'marketing on a global stage' is that of Fluffy Pillows

Levitt (1983) was the pioneer of the concept of globalization, and he asserts that marketing is moving from being customized in one country to being standardized on a global scale.

Theodore Levitt further commented that Global marketing is simply “marketing on a global scale or taking commercial advantage of global operational differences, in order to meet global objectives".