BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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E-commerce, improvements in production, globalisation and decrease in competitiveness
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Good relations between important countries, excellent infrastructure, increase in customer options
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Globalisation, transportation improvements and internet/e-commerce
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More sophisticated opportunity costs, economies of scale, globalisation and better market research
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Detailed explanation-1: -Globalization leads to increased competition. This competition can be related to product and service cost and price, target market, technological adaptation, quick response, quick production by companies etc. When a company produces with less cost and sells cheaper, it is able to increase its market share.
Detailed explanation-2: -These factors include: the digital revolution; international economic integration; socio-cultural convergence; global education providers; cross-border political influence; financial liberalisation; intense competition; increased international business and trade; and the need for economies of scale.
Detailed explanation-3: -Innovations in the transportation industry have driven globalization further. Developments such as containerization for ocean shipping allows companies to ship large products more efficiently, thereby decreasing cargo costs.