Globalization has driven competition and posed new challenges among the firms to sustain in the marketplace. Most firms are engaged in developing competitive strategies and innovative differentiations to stay sustainable and competitive in the global marketplace. To gain competitive advantages, companies are also exploring new markets located in the mass and bottom of the pyramid consumer segments. However, moving to new destinations is often complex and causes dilemmas in strategy development and implementation. This chapter discusses the overall impact of globalization on market competitiveness and business growth of companies and illustrates how factors of production can be analyzed to get comparative advantages while exploring new market destinations. The drivers of globalization that influence the marketing strategies of companies doing international business are also discussed in this chapter. The chapter also examines the problems and challenges for companies in selecting strategic choices for sustaining in the competitive marketplace.