Local And Standard Global Market Strategies Essay

1432 Words Aug 27th, 2016 null Page
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 There are various definitions for standardization but from a marketing perspective it is viewed as a common marketing program with common pattern of resources to allocate a marketing mix. Therefore, a standardized strategy is characterized as global commonality where companies sell standard products in the same way throughout all countries. The standard marketing strategy is built on the premises that consumers will prefer the company’s standardized products to help push costs and lower the prices but at the same time maintain suitability. Therefore, the standardized strategies respond…

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