Question

“International marketing has become indispensable for economic development of developing countries.” Comment on this statement.​

Answer 1

Answer:

International marketing has become indispensable for economic development of developing countries ...

Answer 2

It has become indispensable as it helps in widening of market and promotes growth.

• International commerce between countries is a key role in increasing living standards, creating jobs, and allowing consumers to access a wider range of goods.
• It is beneficial as -

1. Guarantees a high quality of living and prosperity for residents of countries who participate in it.
2. One of the primary advantages is logical allocation of resources and guaranteeing their optimal utilization at the global level. It invites nations to export whatever excess they have.
3. It may also aid in a country's development by allowing it to exchange low-growth-potential local goods for high-growth-potential foreign commodities.
4. It encourages economic growth by encouraging the export of commodities from one country to another. International marketing is used to increase infrastructure facilities.