The increased competition can make it hard to succeed and stand out from the crowd which is why digital marketing has become such a large and important industry. Additionally, you will find that many international markets undercut rates which makes it much harder for businesses to survive. It used to be that you were only competing against those in your particular region but now consumers can choose brands from all over the world. One of the most obvious effects of globalization is the drastic increase in competition that businesses face now. Globalization can affect all areas of life and, while there are certainly some advantages, there are also a few drawbacks which are important to be aware of too. With the world constantly getting smaller, businesses need to have a firm understanding of globalization and what it can mean for their operation.
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