STANDARDIZATION IN INTERNATIONAL MARKETING Introduction This paper is about a comprehensive discussion, explanation and analysis of standardization of international marketing strategy. This will be in a form of literature review oriented discussion, explanation and analysis of standardization of international marketing approach. The literature review will look into the positive and negative standardization aspects. This is backed up with relevant theories dealing with the process of standardisation within
Beliefs, values and customs are the three components of culture which influence the international adaptation of products (Usunier, 1993). These three components have an effect on the individual’s consumption behaviours and the buying pattern. Individuals purchase products due to some references from their own culture. Beliefs, values and customs send direct and indirect messages to customers concerning the assortment of products and services; it is known as the cultural message (Doole & Lowe, 2001)
Standardisation versus Adaptation in a Globalisation context Challenge This is the challenge facing primarily multinational firms whether to standardise their local offering or adapt/localise it for the market they are selling into. According to De Wit and Meyer (2010), the question facing managers is whether they should anticipate and encourage global convergence by emphasising global standardisation, centralisation and coordination or should managers acknowledge and exploit international diversity
standardization and localization. It is more about degree and decisions will vary by product category, consumer preferences, the market environment and so on. In 2003, McDonald’s launched the “I’m Lovin’ It” campaign. It was the company’s first global marketing campaign made in 12 languages and airing in more than 110 countries (MacArthur 2003). The intent of the campaign was to create a consistent global brand image, while also allowing for local cultures to be represented. Achieving the local flare was
universality of sound management practices would lead to societies and countries becoming more and more alike and interlink. On the other hand, according to divergence approach, companies will try to adapt its strategies with different host-country context in order to sustain its business continually in different countries. However, in my point of view, MNCs need to have a well-balanced strategy which combines global efficiency and local responsiveness strategy in doing their business around the world
International Business Environment There are numerous environmental factors that a company must consider when operating outside its domestic market which have a significant impact on international marketing decisions and are imperative for success. The key environmental factors are outlined below: Doole and Lowe (2004) stated the key problem faced by international marketers is dealing successfully with the multi-dimensionality and complexities of the international environment. By understanding
launched within the Chinese market, as it is close to become the largest luxury market in the world. In order to make this project as successful as possible, this essay will be divided into two parts. On the one hand, we will be analysing the marketing environment of the Chinese market by identifying major market opportunities. Also, the selection of a suitable target market for Cartier jewellery products will be made, and we will recommend which aspects of the product’s international marketing mix strategy
Innovative Marketing, Volume 3, Issue 4, 2007 Demetris Vrontis (Cyprus), Alkis Thrassou (Cyprus) Adaptation vs. standardization in international marketing – the country-of-origin effect Abstract The literature on international marketing presents a confrontation between two mainstream schools of thought regarding international marketing. The one supports the standardization approach and argues that multinational companies’ behavior should be uniform to minimize total costs and promote a global
and full text archive of this journal is available at www.emeraldinsight.com/0265-1335.htm IMR 24,4 Multiple roles for branding in international marketing 384 Faculty of Business and Informatics, School of Commerce and Marketing, Central Queensland University, Rockhampton, Australia, and Ho Yin Wong Bill Merrilees Department of Marketing, Griffith Business School, Griffith University, Gold Coast, Australia Abstract Purpose – The purpose of this study is to empirically examine
International HR Best Practice Tips: Spring 2010 Dee Birschel. Benefits Quarterly. Brookfield: Third Quarter 2010. Vol. 26, Iss. 3; pg. 61, 1 pgs Copyright International Society of Certified Employee Benefit Specialists Third Quarter 2010 Global companies must always attend to local jurisdictional laws and regulations. HR should initiate charitable activities to benefit regions hit by major disasters only after checking local laws about payroll deductions, tax deductions, consent rules and consultation