MANAGEMENT

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: -A marketing strategy that consciously addresses global customers, markets, and competition in formulating a business strategy. The process of global marketing is to convey a final product or service worldwide with the intent of affecting the international marketing community.

Detailed explanation-3: -A multidomestic strategy customizes products or processes to the specific conditions in each country. In the opening example, Lincoln Electric should have used a multidomestic strategy to customize its manufacturing methods to the conditions in each country where it built factories.