Parker Pen Company faced a decline in the late 1970s and 1980s due to several factors: 1) The rising value of the US dollar hampered profits as Parker sold products globally. Parker also had outdated and inefficient manufacturing facilities. 2) There was a lack of coordination between Parker's production and marketing departments. The marketing department could not effectively plan strategies. 3) Parker failed to properly segment markets and place the right products in each market. A "one-size-fits-all" approach to advertising did not work globally. 4) Parker addressed these issues by overhauling manufacturing facilities, improving coordination between departments, restricting subsidiary autonomy, and tailoring products and advertising to local