Theodore Levitt The Globalization Of Markets Essay

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Levitt argues his first point-of-view on the shadow of obsolescence and that "there is no such thing as a growth industry," but growth opportunities. Levitt termed the stagnation of growth industry as a self-deceiving cycle. Within this cycle, there are warning signs that tell if an industry will fail. The first sign is the population myth; the belief that a rise in population "growth is assured by an expanding and more affluent population" does not necessarily mean a rise in the demand of what a particular industry is offering. If the population increases and more people are buying products or services does not mean the business will sustain growth. For example because of unknown reasons, a product may take over in demand such as provided by the petroleum industry. To save themselves, they expanded their sales only from gasoline to complete crude oil products. Another sign of a self-deceiving cycle is the idea of indispensability, believing "there is no competitive substitute for the industry's major product." Because we live in an ever-changing world;...

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