What is the process of applying the same marketing mix to all markets in an international marketing effort?

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Standardization refers to the process of applying the same marketing mix to all markets in an international marketing effort, avoiding any changes or adaptations to fit local preferences or characteristics. This approach assumes that there is a universal set of customer needs and wants that can be satisfied by a standardized product, price, promotion, and distribution strategy. Standardization can result in cost savings, efficiency, consistency, and global branding. It works best when there are similarities among consumers and markets, and when the product has a strong global identity and image. However, standardization may also face challenges such as cultural differences, legal requirements, competitive pressures, and varying levels of economic development.

What Is the Process of Applying the Same Marketing Mix