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The document discusses four global strategies for companies operating internationally: global, transnational, export, and multi-domestic strategies. A global strategy treats the world as a single market with standardized products and advertising, while an export strategy focuses domestically but exports some products. A transnational strategy balances global efficiencies with local responsiveness through customization. A multi-domestic strategy handles each country's market independently by adapting products and advertising to local needs and tastes.
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This document discusses strategies for global marketing mix standardization versus localization. It outlines four main strategies: the ideal global strategy of marketing a standardized product to a global market using uniform programs; the ideal national strategy of locally adapting the marketing mix for each national market; Hybrid I of standardizing products but adapting other mix elements; and Hybrid II of standardizing one key element but adapting others. Each element of the marketing mix - product, price, promotion, and place - is then analyzed in terms of whether it should be standardized globally or varied locally. Factors like product differences, demand variations, legal/cultural norms, and competitive landscapes must be considered for effective standardization versus localization of the global marketing mix.
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Global strategy slide
- 1. Global Corporate Strategies Which Global Strategy is Most Relevant to Your Company? High Globalization Transnational Strategy Strategy • Treats world as a single global market • Seeks to balance global efficiencies • Standardizes global and local responsiveness Need for Global Integration products/advertising strategies • Combines standardization and customization for product/advertising strategies Export Multi-domestic Strategy Strategy • Domestically focused • Handles markets independently for • Exports a few domestically produced each country products to selected countries • Adapts product/advertising to local tastes and needs Low High Need for Local Responsiveness