Standardized and localized strategies

Localization strategy is geared toward understanding local consumer preferences and other locale-specific requirements and then adapting the marketing mix and other business strategies to best satisfy consumer needs and wants.

The most common example is when companies use transliteration strategies to localize their English brand name to a completely different writing system, as in the case of Chinese script. While this technique almost never offers economies of range for the global company, it facilitates local service and expedited local business development Advantages of Standardization - Standardization as a global marketing strategy bears a number of advantages which make it an attractive choice for many globalizing companies Douglas and Breeze, Viswanathan and Dickson identified three constructs as part of a normative framework for a global standardized marketing strategy: University of Hawaii Press, Tailoring your strategy to fit the culture.

For example, if research shows that Parisians enjoy avocados on their burgers, market your burgers in Paris to include avocados. He is one of the pre-eminent Cross-Cultural Digital Media advisers, having investigated cross cultural communications for the past 12 years and has published numerous top academic papers and books in this area.

Standardize or Localize- A better way to lead markets

The example which can be taken in this case is that of Cummins. Even within confirmed activity, parts can be globalized and others performed locally. All these strategies have definitely done a world of good for increasing Standardized and localized strategies revenues of most of the telecom players.

Konbini are an integral part of Japanese shopping culture and daily life. Differentiation If you are a business owner who uses global standardization to market your product, you may also run the risk of losing out to local competitors who can tailor their goods and marketing efforts to the local population.

Demographic Concerns Not every market has the same wants and desires.

What Is Standardization and Localization?

For example, the color green in Iran has been linked with opposition to the government, while in Ireland it is a national color. Order now When considering the marketing, product, and positioning strategies involved with taking a US based consumer product global, there are many variables to consider.

Expedited local business development Localization allows companies to quickly and aggressively deal with local competition as the global brand identification continues to be in its early on development. A good example of a company that uses global standardization in marketing is Coca-Cola, according to University of South Carolina professors Saeed Samiee and Kendall Roth.

This is because companies now target diverse audiences with their own languages and standards of quality. A good example of a company that uses global standardization in marketing is Coca-Cola, according to University of South Carolina professors Saeed Samiee and Kendall Roth.

The lack of localization strategy can mean missing the consumer sweet spot or, even worse, making costly errors that result in sanctions, product recalls or even consumer boycotts.

Global Marketing, Localized or Standardized Strategy Selection Paper

While the company no doubt wants to maintain a consistent image across different markets, it must also take into account the cultural context into which its marketing material is entering. Some of the marketing activities may most probably to a standard global approach while others may require a great degree of customization.

Journal of Marketing Management, 2 2 Product, Price, Place distributionand Promotion. Even when dealing with industries or product categories that do not seem to need localization, there is a chance that a certain element of the marketing mix may need adaptation if the product s will be marketed internationally.

The lack of localization strategy can mean missing the consumer sweet spot or, even worse, making costly errors that result in sanctions, product recalls or even consumer boycotts.

The globalization of markets. This type of marketing strategy conforms to work across different cultures and countries to promote a product. If planned and implemented properly, a product line, service or brand can be tailored to a local market while leveraging all of the benefits of economies of scale and scope.

Skin-whitening products are widely consumed by in Asian countries such as China, India, Japan and Korea, where women view whiter skin as a symbol of beauty, good health, and high social status.

The tortuous evolution of the multinational corporation. Indian consumers can order online or call for home delivery. They are also an integral part of Japanese e-commerce as they allow the consumer to order online and pick up and pay for the merchandise at the store. However, standardization also benefits manufacturers, who need to stick to only one production method -- effectively minimizing production costs -- and can target a much larger audience when producing goods or services complying to widely accepted standards.

I asked my students what they thought of Chinese car brands such as Geely or Cherry; they responded that they sound too feminine. Some of the food alternatives available from street vendors and local shops in India cost less than half of these prices. The role of cultural style in a world and its effect the consumption Culture has been known as a system of worth and norms that are shared among a group of people that when taken jointly constitute a design for living.

A Localized Global Marketing Strategy

Singh holds a Ph.Unit 1 Standardized and localized strategy ABSTACT This paper looks at the standardized and localized strategy used by various corporations in the business world.

The advantages and disadvantages of both strategies are discussed in depth through the paper as well as ethnocentric, polycentric, and geocentric orientations and the.

A standardized strategy is characterized by global commonality where corporations sell the standardized products in the same way everywhere (Levitt, ). Standardization is build on the premise that, customers will prefer the world standardized products of the company that is able to push costs and prices down while at the same time.

Examples List on Standardized And Localized Strategies

Global Marketing, Localized or Standardized Strategy Selection When considering the marketing, product, and positioning strategies involved with taking a US based consumer product global, there are many variables to consider. Standardization and localization are two of the most important processes of global business.

Even though there is no connection between the two processes, as one happens independently of the other, they both became a crucial part of business when trade reached a global scale.

A Localized Global Marketing Strategy Dr Nitish Singh Jun 25 Finding the balance between standardization and localization of the web content is one of the preeminent dilemmas that companies face when tapping international markets. the elements of standardized and localized strategies.

What Is Global Standardization in Marketing?

It also examines the role of cultural patterns in a society and its effect on consumption. The author seeks also to suggest that in the design of the marketing research plan, care is needed to ensure fit with the specific.

Download
Standardized and localized strategies
Rated 0/5 based on 19 review