Definition Of

Global firm

Global firm refers to a firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors. The global company sees the world as one market. It minimizes the importance of national boundaries and develops global brands. It raises capital, obtains materials and components, and manufactures and markets its goods wherever it can do the best job.

Share it:

More from this Section

  • Integrated logistics management
    Integrated logistics management refers to the logistic concept that emphasizes teamwork- both inside the company and all the marketing channel organizations...
  • Advertising media
    Advertising media refers to the vehicles through which advertising messages are delivered to their intended audiences. The major steps in advertising...
  • Superstore
    Superstore is a very large store traditionally aimed at meeting consumers’ total needs for routinely purchased food product, nonfood items, and services.
  • Order-routine specification
    Order-routine specification is a stage of the business buying process in which the buyer writes the final order with the chosen supplier(s), listing the technical specifications...
  • Age and life-cycle segmentation
    Age and life-cycle segmentation refers to dividing a market into different age and life-cycle groups.
  • Service retailer
    Service retailer refers to a retailer whose product line is actually a service, including hotels and motels, banks, airlines, colleges, hospitals, movie theaters...
  • Sales branches and offices
    Sales branches and offices- set up by manufacturers to improve inventory control, selling, and promotion. Sales branches carry inventory and are found in industries...