Final answer:
Global efficiency improvements in distribution channels are driven by reductions in trade barriers, and advancements in transportation, and communication technologies. These factors have expanded market access, increased consumer awareness, and significantly escalated global competition.
Step-by-step explanation:
The subject in question pertains to the efficiency of traditional distribution channels on a global scale. Influential factors like reductions in tariffs, quotas, and other trade barriers, enhancements in transportation, and advancements in communication media, including the Internet, have contributed to a heightened awareness of global market offerings. This increased awareness is due, in part, to the powerful dynamic of globalization and the expanding reach of communications and information technology.
These developments have broadened market definitions and intensified the level of competition facing firms. Global consumers can now easily purchase products from different regions or countries online, which forces local retailers to compete on a much larger scale. Similarly, ‘business-to-business’ platforms facilitate transactions between buyers and suppliers from around the world, further amplifying competition in various sectors. The interconnectedness of technology and globalization has redefined market structures and competitive landscapes, making it imperative for businesses to innovate and adapt continuously.