Question

Why is it important for companies to market globally?

1.It is easier to sell products internationally than it is domestically.
2.Most of the world's population lives outside the United States.
3.Compared to domestic marketing, it is less expensive to market globally.
4.The benefits of marketing globally always outweigh the costs.
5.Selling products globally does not require the use of all elements of the marketing mix.

Answer 1

It is important for companies to market globally because it allows them to reach a larger customer base, it can be less expensive than domestic marketing, and it can lead to better products and increased profits.

Step-by-step explanation:

In today's globalized world, it is important for companies to market globally for several reasons. Firstly, a large portion of the world's population lives outside the United States, so by marketing globally, companies can tap into a wider customer base and increase their sales potential.

Secondly, marketing globally can be less expensive compared to domestic marketing. Reductions in trade barriers, improved transportation, and communication media have made it easier for companies to access international markets and reach customers without incurring high costs.

Lastly, by marketing globally, companies can benefit from competition and access better or cheaper products. This can lead to increased profits and better products for consumers, ultimately benefiting the nation as a whole.