A company that engages in global marketing:
A)pursues a "one size fits all" strategy by creating identical products for homogeneous markets.
B)customizes special products for each world country or region.
C)creates both standardized and localized products.
D)nurtures an ethnocentric management orientation.
E)uses localized products only.

Question

Quizplus · Accepted Answer

A company that engages in global marketing must strike a balance between standardized and localized products. Standardized products help reduce costs by using the same production and marketing strategies across different countries, while localized products cater to the specific needs and preferences of each market. This approach is known as a glocalization strategy, where global products are adapted to local markets. Pursuing a "one size fits all" strategy (choice A) is not effective as it neglects the differences between markets. Customizing special products for each country (choice B) may be costly and impractical. Nurturing an ethnocentric management orientation (choice D) can limit a company's ability to adapt to different cultures and markets. Using localized products only (choice E) may not allow the company to benefit from economies of scale and could limit its global reach.

A Company That Engages in Global Marketing