Global Market Definition
It has no physical location and operates 24 hours a day, seven days a week.
It sets the exchange rates for currencies with floating rates. Global Market Definition
This global market has two tiers. The first is the Interbank Market. Global Market Definition
It’s where the biggest banks exchange currencies with each other.
Even though it only has a few members, the trades are enormous.
The second tier is the over-the-counter market.
That’s where companies and individuals trade.
The OTC has become very popular since there are now many companies that offer online trading platforms.
New traders, starting with a limited capital, need to know more about forex trading.
It’s risky because the forex industry is not highly regulated and provides substantial leverage.
Foreign exchange trading is a contract between two parties.
There are three types of trades.
The spot market is for the currency price at the time of the trade.
Global Marketing Strategies
The forward market is an agreement to exchange currencies at an agreed-upon price on a future date.
A swap trade involves both. Global Market Definition
Dealers buy a currency at today’s price on the spot market and sell the same amount in the forward market.
This way, they have just limited their risk in the future. Global Market Definition
No matter how much the currency falls, they will not lose more than the forward price.
Meanwhile, they can invest the currency they bought on the spot market.
Customized global marketing is an international marketing approach. Global Market Definition
That adjusts marketing strategy and marketing mixing elements into each international target market.
By optimizing the marketing strategy in each market, overall marketing costs increase.
However, As a result, it expects that the optimization of different markets gets a large market share and returns on investment. Global Market Definition
It has been emphasized in numerous management studies that companies cannot be to the domestic market in the age of globalization. Global Market Definition
Firms must devise global marketing strategies to gain competitive advantage and escalate profit.
Global marketing enables marketing managers to look for emergent target markets and product opportunities in abroad.
Global marketing occurs when marketing executives use a global plan to successfully market their goods and services at a global level.
Several management scholars affirmed that global marketing strategy is one of the constituents of a global strategy.
In order to be successful, it must integrate all functional aspects of a business from finance to operations to R&D.
It must also have a well-defined objective. Global Market Definition