The practice of standardizing marketing activities when cultural similarities exist and adapting them when cultures differ is called a _____ marketing strategy.

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The practice of standardizing marketing activities when cultural similarities exist and adapting them when cultures differ is known as a global marketing strategy. This approach involves developing a standardized marketing mix for all markets where there are enough similarities in consumer preferences and behavior to justify a uniform marketing approach. However, companies must be able to adapt their marketing efforts to local cultures and customs to address differences in consumer behavior, preferences, and expectations across markets. A global marketing strategy seeks to balance the benefits of standardization, such as efficiency and consistency, with the need for adaptation to local market conditions.

The Practice of Standardizing Marketing Activities When Cultural Similarities Exist