Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
The standardization strategy is a global method applicable to different markets. The standardization policy takes place in the context of the globalization of markets, which is the merging of historically different and separate national markets into one huge global market (Hill 14). This approach is the highest level of large-scale marketing activity and one of the most economical. A standardization strategy assumes that certain products have universal properties that are attractive to consumers regardless of their country of residence. The strategy of globalization lies in the fact that a single volume of products is sold according to a standard marketing program. The rationality of the standardization strategy is substantiated by the assertion that the latest means of communication form the unity of tastes in all cultures. It results in a global market with identical demand for goods of good quality and reliability at reasonable prices.
A standardization strategy can be applied if it is necessary to reduce consumers’ prices. The price, quality, and reliability of standard products outweigh any benefits that accrue from the cultural adaptation of products. Standardization also allows manufacturers to achieve significant economies of scale. Standardization can be used to save on product marketing. The most important goal that a company can pursue by introducing standardization is an easier entry into the world market and participation in global competition. In the long term, the strategy is advantageous for improving the population’s quality of life and promoting socio-economic growth. Product quality and control requirements are also increasing, encouraging the manufacturer to care more about reputation.
The main goal of the standardization policy is to create a unique product that will be equally good for buyers from all over the world. Due to the lack of focus on national and cultural adaptations, this technique can effectively save money. The strategy can be applied to facilitate entry into the international market and increase brand popularity; it is helpful if a company desires to save on marketing.
Work Cited
Hill, Charles W. L. Global Business Today. 12th edition. McGraw-Hill Education, 2021.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.