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All three forces act to increase downward pressure on prices. Globalization means that companies will move their production to cheaper sites and bring products into a country at prices lower than those charged by the domestic sellers. Hyper-competition means that there are more suppliers competing for the same customer, leading to price cuts. And the Internet means that people can more quickly compare prices and move to the lowest cost offer. The marketing challenge, then, is to find ways to maintain prices and profitability in the face of these macro-trends. No country’s industry is going to hold on to its customers if it can’t continue to lead in offering the most value. And the answer has to be: better targeting, differentiation and branding.
At the same time, various world regions are becoming more integrated and more protective. The members of a region are seeking preferential terms from the other members of the region. But artificial trade preferences cannot last long against a substantial deterioration of value.
Yes it does but in current scenario sinking feeling is visible and it might take some more time to over come it.
Agree with the answer and explanations given by Mr. Vinod Jetley.
