Globalization of markets is the process by which national markets merge into a single global marketplace, driven by technology, trade, and converging consumer preferences. It means companies can sell the same products worldwide, and consumers everywhere have access to the same global brands.
Definition of Globalization of Markets Globalization of markets is the process through which distinct national and regional markets progressively merge into a unified global marketplace. It is characterized by the free flow of goods, services, capital, and information across national borders, and by the convergence of consumer preferences across different countries and cultures. The phrase was most famously articulated by Theodore Levitt in his 1983 Harvard Business Review article , where he arg