BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Tailoring the marketing mix to meet the needs of local consumers.
|
|
|
Doing what Ferrari does.
|
|
|
Producing products locally.
|
Detailed explanation-1: -Global localization is the business practice of adapting a brand’s message or product to the local language, culture and customs. Benefits of implementing global localization techniques include gaining an edge over the competition, building customer loyalty and increasing revenue.
Detailed explanation-2: -What is localization in global marketing and why is it important? Localization is the process of adapting all elements of your global marketing campaign to your target markets, so it can reflect the needs, interests, and context of customers in that specific area.
Detailed explanation-3: -A global marketing strategy (GMS) is a strategy that encompasses countries from several different regions in the world and aims at co-ordinating a company’s marketing efforts in markets in these countries. A GMS does not necessarily cover all coun-tries but it should apply across several regions.
Detailed explanation-4: -What is localization strategy? Localization strategy is how a company adapts its message to a particular language or culture. When entering a new market, you need locally consumable websites, social media, marketing campaigns, and more.