Marketing your business in the global economy


Selling is the lifeblood of any business. Selling your product is the key to business success. Sales were profitable. Sales expand the business. Without sales, there is no customer satisfaction or customer relationship.

Therefore, marketing is an important task in any business organization, small, medium or large scale. Businesses spend billions of dollars every year marketing their products in the target market. This can be in the form of advertisements such as billboards, television, radio, newspaper advertisements or sales promotion techniques or public relations.

The key question for any business is how to maximize their marketing costs. It is important that the benefits outweigh the costs. Therefore, the burden of every marketing manager is to describe the marketing media that is most profitable for their business.

The world beyond your ‘world’

We live in a globalized market made possible by various technological innovations, especially through the Internet and mobile technology. The immediate question for every business owner is ‘What is the best way for my business to maximize the globalization market?’ The answer to this question is another question, ‘How do I present my business in the global economy?’

As of April 2018, there are 4,087,000,000 Internet users worldwide, according to the Statistics Portal. Similarly, there are 3,297,000,000 social media users. More than 50% of the world’s population are active Internet users.

For every traditional means of advertising, you have limited access to the number of people in your geographic location. Even if you’re a large-scale company, your ad can only reach the population of your country and perhaps some neighboring countries. China, the world’s most populous country, has less than 2 billion people. Traditional marketing in China can only reach 2 billion.

But with the Internet, the scope of the ‘target market’ has changed. Your target market doesn’t need people living in your geographic location. In a global economy, your target market can expand around the world. A firm in China can position its business online to target consumers in Canada. A manufacturing plant in Nigeria could target consumers in Russia.

This is especially true for people who sell services. An author in South Africa can write for a magazine in the United States, while an accountant familiar with international financial reporting standards and an accounting package can expect clients in distant Australia. A graphic designer in France can design flyers and banners for a client in Ghana. A relationship or self-development specialist in the UK can expect clients in Spain. In a globalized market, language is no barrier to such opportunities.

The first step

The point is; A global marketplace provides unique opportunities for business owners and marketing managers to expand their reach. In a globalized market, the Internet offers vast potential for business growth and industrialization. Your organization’s target market can reach all over the world. If done well, your goods or services could be far removed from customers around the world.

If your business is not yet visible to these 5 billion people, then you are not maximizing your business potential.

Millions of people are searching for information as well as products for purchase through Google and other search engines. Why not put yourself in a position to reap some benefits?

Every serious business in the global economy needs a website. Owning a Website As a business owner, taking advantage of the Internet is the first step. A good business website can cost between $ 100- $ 300 (depending on the developer). In some cases, it may be more or less. In a globalized market, you can get competitive prices from reputable freelancing websites or individual designers who have positioned their services on the web.

Some of the benefits of having a business website include:

1. It provides a platform where potential customers and existing customers can get important information about your business and products 24 hours a day at the click of a finger. Instead of answering thousands of calls every day, your website provides a way to get the basic information you need.

2. It makes your goods and services accessible in a global market 24 hours a day and seven days a week

Google. This is an opportunity to sort through Google and become a destination for relevant Google searches for your product or related product.

It. It provides a platform for detailed descriptions of your products and services without any newspaper page or radio time limit.

the. In the world of the 21st century, having a website presents you as a serious business owner.

Many people around the world rely on the Internet to purchase goods and services. It is important to take advantage of such opportunities.

Having a website is not enough to get sales. But it is the first step in a series of initiatives that could prove to be the most effective marketing strategy in the global economy.

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