Traditionally, marketing-oriented multinational corporations have operated differently in each country, with segmentation strategies that provided different marketing mixes. Today, there has been a trend toward global marketing standardization. What is global marketing standardization? Can companies truly follow the basic premise of the global marketing standardization concept?
What will be an ideal response?
Global marketing standardization presumes world markets are becoming more alike. Communication and technology have made the world smaller, so people everywhere want all the things they have heard about, seen, or experienced. Therefore, serving global markets with standardized consumer products on a large scale is an alternative to marketing global products on a segmentation basis. Firms practicing global marketing standardization produce "globally standardized products" to be sold the same way all over the world.
True global marketing standardization is not entirely evident because marketing mix variations still exist. However, companies are moving toward variations of global marketing in which marketing mix modifications are kept to a minimum. While marketing mixes can be similar, variations in products, pricing, promotional copy, and distribution types may be necessary for each country.
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