A critical ingredient for the Third Era of globalization is:
A) the global emphasis on tailoring products and marketing strategies to meet perceived local needs
B) technological advances, especially in information technology and communications
C) the global emphasis on profits and efficiency
D) the global emphasis on the marketing mix and marketing functions

Question

Quizplus · Accepted Answer

Technological advances, especially in information technology and communications, have been a critical ingredient for the Third Era of globalization as they have enabled faster, cheaper, and easier international communication, collaboration, and commerce. This has facilitated the integration of markets, industries, and economies, and accelerated the pace and scale of global exchange and innovation. Without these technological advances, the Third Era of globalization would not have been possible or as impactful. The other choices may be important factors as well, but they are not as essential or transformative as technology.

A Critical Ingredient for the Third Era of Globalization Is