Standardized global marketing is an international marketing strategy that uses the same marketing strategy and marketing mix in all of the company’s international markets.
Further Discussion on Standardized Global Marketing
There is a debate over brands approaching international markets with either a standardized or adapted approach. Supporters of the adapted global marketing approach claim that consumers in different countries differ significantly in their needs and wants, spending power, product preferences, and shopping patterns. They contend that marketing strategies should be tailored to the target country’s specific cultural needs while maintaining the overall brand image.
On the other side of the debate, supporters of standardized global marketing believe that technology is making the global market a smaller place and that the needs of consumers around the world are becoming similar. As a result, there is a need for a standard approach to a company’s marketing strategy. Global branding and standardization result in greater brand power and reduced costs from economies of scale.
Some marketing experts don’t believe that either adapted or standard strategies are best if acted alone. The latter believe that a mix of both standard and adapted global marketing is a better approach. They suggest that companies should think globally, but act locally, meaning they should adopt a standardized global marketing strategy, but adapt to their local international markets.
Example of Standardized Global Marketing
Starbucks Coffee utilizes a global brand approach by leveraging its global brand image. However, it adapts its marketing and operations to local markets.
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