Volume : V, Issue : III, March - 2016

STANDARDIZATION V/S ADAPTATION IN INTERNATIONAL MARKETS

Dr S. K Mahajan

Abstract :

 The term ‘globalization’ has become a very important issue since the beginning of the 1980s. Globalizing means homogenizing on a world-wide scale. With growing globalization differences between countries are getting smaller but still exist. The trend towards globalization and internationalization of business has strong impact on companies’ strategy. Due to increasing globalization and global competition MNCs are faced with a very important marketing decision between standardization and adaptation of marketing strategy. There are two different perspectives on the international business marketing issue. On the one hand, supporters of the standardization point of view argue that a single and standardized marketing strategy should be used in international markets to minimize total costs and promote a global corporate image. On the other hand, supporters of the adaptation point of view argue that there is the need for marketing adaptation to fit the unique dimensions of each local market. The study finds that it is most common for the multinational firms to adapt to the local market; however certain product segments, particularly the high priced luxury ands keep a standard product offering worldwide.

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Article: Download PDF    DOI : https://www.doi.org/10.36106/gjra  

Cite This Article:

DR S.K MAHAJAN STANDARDIZATION V/S ADAPTATION IN INTERNATIONAL MARKETS Global Journal For Research Analysis, Vol: 5, Issue : 3 March 2016

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