Difference Between Globalization And Localization

Local and Standard Global Market Strategies and the Different Approaches When entering a new product into a global market a company needs to research on the role of the culture in the localization or standardization of a marketing strategy including the exact marketing mix elements in each market. Furthermore, the research that needs to be carried out must include language differences, product distributions, retail structures, climates, and several cultural features such as color, history, restrictions, religion, education, and politics. Although, there are several international marketing strategies that have emerged within standardization and localization but either strategy provides marketers the ability to approach to enter and serve in foreign markets however both strategies have their own unique marketing approach (Haron, 2016).
The Difference between Standard and Local Strategies …show more content…
Sales Increase. Expanding into the global market will expand the customer base and increase sales and with global distributors, Internet and electric communications will make managing global sales easier.
Increased Visibility. As the global market expands so will brand visibility and will give the company greater name recognition that will help recruit local employees, hire new distributors, and work with the media within each country.
Increased Costs. Expanding into the global market requires financial resources and expensive which may require additional personal and technology to monitor and manage the products. It is important to market the product and/or company as much as possible without making language, culture and other changes but the company must be ready to incorporate changes when