1. International companies must decide how much to adapt their marketing strategy to fit local conditions. Discuss the advantages and disadvantages of standardization and localization strategies.
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This is a three-part question.
1. International companies must decide how much to adapt their marketing strategy to fit local conditions. Discuss the advantages and disadvantages of standardization and localization strategies.
2. Identify and describe the product adaptation strategies that a firm might employ, and
3. Evaluate the localization methods that a company of your choice has adopted to better meet the needs of a foreign market that is has entered.
Please provide details and supply references.
Step by step
Solved in 3 steps
- What role does localization play in global marketing, and how can global marketers balance the need for standardization with the need for customization?This is about the development of new products in international markets. Remember that products are defined or refer to goods and services. You must answer the following questions: Discuss the advantages of conducting market research and analysis in order to implement a product internationalization strategy. Contrast the concepts of standardization and adaptation from the perspective of international marketing strategies.It is decided to open Kalyan Jewellers, a prominent Indian Jewellery store in Malaysia and now it is the time to frame international strategy using application of standardisation and localisation framework. In this aspect, please consider opening a showroom in Malaysia as standardisation aspect and localisation involves connecting with other businesses and offering products to them for sale to create awareness about the business. Please corelate the following and explain the standardisation and localisation framework adressing briefly and covering all aspects of it outlining advantages and disadvanatges
- PepsiCo, Inc. is an American multinational food, snack and beverage corporation headquartered in New York. It offers same product line and uses same marketing strategy across various countries. Analyse the international marketing approach used. Select one: a. Customization of the product b. Standardisation of the product c. Global approach for product d. Ethnocentric approachThis article's goal is to define an international marketing information system (IMIS) and describe how it works.In what kind of industries does a localization strategy make sense? When does a global standardization strategy make the most sense?
- As a marketing consultant hired by a local company in your country, you are asked to give advice to the company since their goal is to launch their product into an international market.(a) What are three (3) major decisions in international distribution that should be undertaken by global marketers and how can companies optimize the most cost-effective ways to get their product to the end-user in the least amount of time. (b) Discuss the role/s that an Integrated Marketing Communication approach would play in the global company's promotional strategy.International Market Research Your presentation was very well received Yet, having no previous work experience with moving into international markets, you think it might be best to contract with an external service to research international markets In the discussion board, meet with your marketing team and discuss the following challenges ahead of you Consider and discuss the following: – What are the key considerations in choosing such a partner? – What would you expect of them? – How would you go about finding such a partner and what would your selection criteria be? – Is the marketing research process you have learned applicable in part or whole to this effort? – Is it more cost effective to do the research yourself?This is about the development of new products in international markets. Remember that products are defined or refer to goods and services. You must answer the following questions: How are standardization and adaptation strategies applied in SMEs that pursue the internationalization of their products? Define in your own words the concept of marketing in terms of the local and international context.
- Instructions: Analyze and answer the following questions A US Company plans to sell farm equipment in a country in Asia. This country traditionally had not conducted business with companies outside of its geographic region. Answer these questions for the US company. How might economic conditions affect business decision What social and cultural influences could affect business decisions? How could politics and laws after the company's exporting activity? What geographic factors might influence the company's international business activities?Kindly elaborate your answer. Thank you so much!What does the acronym CAGE mean in the context of internationalisation? Select one: a. Cultural, added, geographic, and economic distances. b. Cultural, adequate, global, and economic distances. C. Cultural, administrative, global, and economic distances. d. Cultural, administrative, geographic, and economic distances.Which of the following allows a foreign company to sell a company’s products or use its intellectual property in exchange for royalty fees?Choose one answer.a. Joint venture b. Licensing agreement c. Strategic alliance d. Offshoring