How Can Globalization Influence the Standardization of International Marketing Strategies?
SYNOPSIS
Thesis Topic: How can globalization influence the Standardization of International Marketing Strategies?
Introduction
One of the most intriguing discourses in the field of contemporary marketing management is the standardization of international marketing strategies.
The intent of this paper is to examine the standardization of marketing elements within a multinational marketing strategy. A majority view among international marketers is that each national is unique and thus each must be treated as a separate and independent operation. A growing number of international marketers however, are finding that by standardizing various elements of their marketing strategy across national borders, cost savings and /or increased revenues to be realized can yield greater profits. The second and major part of the paper examines the opportunities for and potential benefits of standardization of product, packaging, advertising and pricing.
The prevailing view of MNCs is that marketing strategy is a local problem which differs from country to country. However, there are potential benefits in standardizing multinational marketing strategy. In view of the trend toward at least partial centralization of marketing management, the right balance between local autonomy and central coordination is essential if marketing strategy is to encompass a multinational perspective. Significant cost savings, consistency in dealing with customers, improved planning and control and the exploitation of good ideas represent potential gains with an integrated approach to marketing strategy.
The research work carried in this field dates back to 1960s ,described it as a common market program and/or process on a national, regional or worldwide level, where marketing program referred to the various aspects of marketing mix and marketing process involved management tools used to develop and implement the designed processes. The contemporary studies on the issue are now more focused towards
Thesis Topic: How can globalization influence the Standardization of International Marketing Strategies?
Introduction
One of the most intriguing discourses in the field of contemporary marketing management is the standardization of international marketing strategies.
The intent of this paper is to examine the standardization of marketing elements within a multinational marketing strategy. A majority view among international marketers is that each national is unique and thus each must be treated as a separate and independent operation. A growing number of international marketers however, are finding that by standardizing various elements of their marketing strategy across national borders, cost savings and /or increased revenues to be realized can yield greater profits. The second and major part of the paper examines the opportunities for and potential benefits of standardization of product, packaging, advertising and pricing.
The prevailing view of MNCs is that marketing strategy is a local problem which differs from country to country. However, there are potential benefits in standardizing multinational marketing strategy. In view of the trend toward at least partial centralization of marketing management, the right balance between local autonomy and central coordination is essential if marketing strategy is to encompass a multinational perspective. Significant cost savings, consistency in dealing with customers, improved planning and control and the exploitation of good ideas represent potential gains with an integrated approach to marketing strategy.
The research work carried in this field dates back to 1960s ,described it as a common market program and/or process on a national, regional or worldwide level, where marketing program referred to the various aspects of marketing mix and marketing process involved management tools used to develop and implement the designed processes. The contemporary studies on the issue are now more focused towards