Global Economic Environment and Marketing Essay - 2

Global Economic Environment and Marketing - Essay Example The changes that have taken place in the world economy have led to the replacement of the traditional trade methods by capital movements. It can be observed that the global economy has given the local economies only a subordinate role in the market operations (Kotler et al., 2012). Economic systems have changed from what was traditionally known to new systems, which have taken into consideration the areas that are affected by globalization. The areas considered in modern economic systems include governance in various countries operating in the global market, capital and trade flows, hierarchy of command in terms of transport and communication, services funded through taxes and many others (Masterton &Pickton, 2004).The field of marketing in the global economy has experienced dynamic changes as well. Therefore, companies operating in the global economy should put into consideration these aspects and employ changes that fit the requirement of marketing in the modem global economy. The report will focus on McDonald, which is a multinational corporation operating in the fast food industry and supplying millions of customers across the world. (Solomon, 2009). The Macdonald Company has established its branches in almost all countries of the world. In this regard, the company experiences varied economic challenges and opportunities in different countries. With the current world economic state, the developing countries are struggling to better their economic status (Drummond et al., 2003).. In this case, the McDonald company experiences reduced economic gains in the developing countries compared to the developed nations. Another challenge that faces MacDonald Company in the global economy is the stiff competition in the developed economies. In this regard, it can be witnessed that operating in the international markets requires outstanding skills and knowledge since it involves dealing with high-level risk. Essentially, operating in a