A specific strategy that treats the world as one market by using a standardized approach to products and markets is called ________.
A) globalization
B) rationalization
C) differentiation
D) integration

Question

Quizplus · Accepted Answer

The specific strategy that treats the world as one market by using a standardized approach to products and markets is known as globalization. It involves minimizing differences between different markets and countries to create a consistent and uniform brand image across the world. This approach is often adopted by large multinational corporations to achieve economies of scale, reduce costs, and increase market share. Rationalization typically refers to streamlining and optimizing business processes, while differentiation and integration are other marketing strategies that focus on creating unique product offerings and leveraging synergies between different business units or departments, respectively.

A Specific Strategy That Treats the World as One Market