How do globalized marketing strategies differ from customized marketing strategies? What are the implications of each for marketing managers?
What will be an ideal response?
Like domestic marketers, international marketers develop marketing strategies to serve specific target markets. Traditionally, international marketing strategies have customized marketing mixes according to cultural, regional, and national differences. There are many international issues related to product, distribution, promotion, and price. For example, many developing countries lack the infrastructure needed for expansive distribution networks, which can make it harder to get the product to consumers. Realizing that both similarities and differences exist across countries is a critical first step to developing the appropriate marketing strategy effort targeted to particular international markets. Today, many firms strive to build their marketing strategies around similarities that exist instead of customizing around differences.
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Give an example of currency translation that is a change in numeraire
What will be an ideal response?