References: Levitt‚ Theodore. 1983. The Globalization of Markets. Boston‚ MA: Graduate School of Business Administration‚ Harvard University. Papavassiliou‚ Nikolaos and Stathakopoulos‚ Vlasis. 1997. "Standardization versus adaptation of international advertising strategies: Towards a Framework" European Journal ofMarketing. 7 (31): 504-527. Solomon‚ Cornell and Nizan. 2009 Advertising and Promotion in Real Time Edition: Flatworld knowledge
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product and pricing strategies across international markets and locations. A company can decide to choose one of the four basic strategies. Global standardization strategy‚ localization strategy (multidomestic)‚ transnational strategy‚ and international strategy. Global standardization strategy - Companies that are pursuing a global standardization strategy focus on increasing profitability by lowering the costs that come from economies of scale and location economies. They want to market a standardized
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Hill state that companies usually choose among four main strategic strategies when they want to compete globally these are: 1. Global Standardization Strategy 2. Localization Strategy 3. Transnational Strategy 4. International Strategy The figure above shows in what kind of conditions which kind of strategy is the most suitable. 1. Global Standardization Strategy This strategy lays the focus on increasing profitability by reaping the cost reductions that come from economies of scale
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They are global standardization‚ localization‚ transnational and international. Each strategy leads to the deciding factor that firms will use to determine the amount of pressures for cost reduction and local responsiveness. Global standardization is used to increase profitability by obtaining cost reductions through economies of scale. A firm whom wants to pursue a low-cost strategy on a global scale will normally offer a product that can be mass-produced at a low cost. A localization strategy offers
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Table of Contents 1. Introduction With the improvement of living standards and the acceleration rhythm of life has encouraged more development of fast food consumption. Currently‚ fast food is increasingly being accepted by all‚ and gradually integrated into people’s lives in China. The rise of the fast food industry and the rapid development of the Chinese economy is also a very compelling new phenomenon. KFC and McDonald’s fast food companies‚ the two well-known fast food companies in Chinese
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Example 1 Localization strategy of McDonald’s McDonald is using localization strategy in term of choose to localize the language that they use to sell the items especially burger and tries to localize the food itself‚ localization is absolutely necessary to attract customers across nations. One of the examples is McDonald’s localization of its food menu. u. Even though the menu is to a certain degree standardized all over the world‚ but some of items are unique to each country and that taste also
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growing and adjusting to local demands‚ while at the same time building a coordinated strategy with direction from the center. Thus‚ we need to come up with a blended solution that can combine standardization and localization. Coca-Cola has pursued many strategies of localization and also standardization‚ yet none of them were successful. However‚ the midpoint strategy of my predecessor Neville Isdell was most successful. Our company needs to develop a marketing mix in which each channel of distribution
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International Marketing Written Report 1 Starbucks – A Coffee Kingdom How it comes to enter into the Hong Kong market? Content Introduction ......................................................................................................................................... 1 An introduction of Starbucks .............................................................................................................. 2 History...........................................................
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Localization (multidomestic) strategy is characterized by customized products for particular market segments. The strategy seeks to adapt products and marketing strategy to the specific characteristics of individual markets. This strategy is effective when there are clear differences between national and regional markets and low pressure for cost reduction. We can choose MTV as an example of a company‚ which eight TV channels in Western Europe each in a different language. Advantages: 1. Increased
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2012 第 15 屆科技整合管理研討會 June 16‚ pp1-17 Culture Implications for the Operations StrategyWalmart Experience in China Ming-Ling Chuang1 James J. Donegan2 Michele W. Ganon3 Abstract Many multinational corporations are aware of the topology of the Chinese market‚ what they lack is an in-depth understanding and the skills needed for effective operations. The paper describes the challenges faced by walmart as it attempts to replicate in China their lean retailing successes elsewhere in the world.
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