Global Markets and Market-Space Competition

Abstract

Globalisation imposes transition in the spatial competition relationships, specifically the abandonment of a competition domain coinciding with specific physical or administrative contexts (a product category, a country, a region, a geographical area, etc.). Competition in global markets shapes a multi-dimensional space so that a given geographical context can imply the simultaneous presence of very different competitors. Competition practices are further revolutionized, as they must take into account: saturated markets, and time-based competition. Global markets with over-supply determine a new approach to competition, with a complete overturning of the hierarchy between customer satisfaction and manufacturing: goods are manufactured only when the level and amount of  satisfaction required by customers is known.