Introduction

Globalization is defined to be the dynamic process of growth of all national linkages due to the enlargement and deepening of transnational linkages increasing due to the diversification of economic, political, social and even cultural rights. However, it is important to highlight that problems associated can become global as well, rather than just within the nation. Some people condemn globalization while others are all praise for it. It is a mixed fare that has brought riches to some and misery to others. Countries like Mexico, Malaysia, Indonesia, Thailand and India and Pakistan to some extent have had to get a severe jolt because of globalization.

Addressing the economic and financial point of view, globalization is defined to be strengthening the links between national economies on the global markets for goods, services and especially due to their capitals. A similar definition was presented in a report in 1997 of the International Monetary Fund, that:”the phenomenon of globalization is the integration of world economy in strong growth both with the markets for goods and services and the capital”.

Globalization has thrown a new challenge before all the countries of the world. Now, even the companies in developing countries have to compete with the powerful giants of the western world. As a result of this, companies which could not withstand the effect of globalization, had either been completely wiped out or suffered heavy losses. It was once stated that, globalization would increase avenues of employment. While such avenues have increased in certain fields like information technology, dramatics, media, services, etc. They have drastically decreased in other fields like agriculture, manufacturing, and engineering etc. Regarding the global nature of technology, it has had its major sources of technical progress that it is concentrated in the developed world, the scientific research is based on global resources, and implementation of technology is focusing on global concerns just like media, services.

Global marketing deals with the marketing strategy of companies that meet the requirements of globalization and promote this process.