Changing any component of the marketing mix to better meet the needs of a local market is known as which of the following?

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Adaptation refers to making changes to the marketing mix (product, price, promotion, and place) in order to better suit the needs and preferences of a specific local market. This approach recognizes that consumer preferences and behaviors can vary greatly across different regions, cultures, and countries, and therefore requires customization of marketing efforts. Standardization, on the other hand, refers to the use of a uniform marketing mix across different markets, typically for the sake of efficiency and cost-savings. Global marketing involves the creation and execution of marketing strategies that can be applied across multiple countries and regions, and may or may not involve adaptation. Individualized marketing and regional marketing are not widely used marketing concepts, but may refer to marketing approaches that are highly customized to individual consumers or specific regions, respectively.

Changing Any Component of the Marketing Mix to Better Meet