Compare and contrast standardization with customization of international marketing strategies.
The notion of globalization - a global firm pursuing a global strategy - is very appealing to managers. (Hardy, 1994, p365). As soon as the firms decide to expand into the global marketplace, the international marketing manager should determine what strategy would be adopted to mix the four P's of marketing: product, pricing, promotion, and place in the complex environment in future. In other words, the manager must decide either the standardisation strategy or customization strategy is suitable for the particular foreign market.
1.The meanings of standardization and customization strategies
Standardization became a popular buzzword in the 1980s, as proponents such as Kenichi Ohmate argued that customers in the Triad were becoming increasingly alike, with similar incomes, educational achievements, lifestyles, and aspirations. (Manoney, Trigg, Griffin, and Pustay, 1998, p612). Therefore, standardization strategy indicates that the firm tends to offer the similar products with same price and distribution to the consumers. …
