A company that succeeds 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 succeeds in global marketing creates both standardized and localized products. This allows them to maintain consistency in their brand and product offerings while also catering to the varying cultural and social norms of each individual market. Pursuing a "one size fits all" strategy may lead to the failure of an organization in some markets due to cultural differences, and customizing special products for each world country or region may not be feasible or cost-effective. Nurturing an ethnocentric management orientation, which prioritizes the values and practices of the home country, may disregard the opinions and preferences of customers from other countries. Using localized products only may limit the potential market reach of a company and reduce the economies of scale that come with standardized products.

A Company That Succeeds in Global Marketing