BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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adaptation strategy
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Standardization strategy
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New product development strategy
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new product research strategy
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Detailed explanation-1: -A global standardization strategy refers to the ability to use standardized marketing messaging and campaigns across markets, countries, and cultures. The world’s biggest brands, such as Adidas and Coca-Cola, use a global standardization strategy to create a consistent brand experience across regions and languages.
Detailed explanation-2: -Four main global strategies form the basis for global firms’ organizational structure. These are domestic exporter, multinational, franchiser, and transnational. Each of these strategies is pursued with a specific business organizational structure (see Table 16-3).
Detailed explanation-3: -An international strategy involves the tactics adopted in different countries specific to the markets of those countries whereas, a global strategy is a concept that involves putting together plans that are unique for the worldwide market.
Detailed explanation-4: -A global standardization strategy example is Coca-Cola Company which utilizes various international marketing efforts. One of the initiatives the company has adopted is product uniformity in their sodas globally. Although wordings may differ due to language differences, the branding and packaging are the same.