Global Marketing Standards and Local Adaptation: An Analysis of the Literature
DOI:
https://doi.org/10.31674/ijmhs.2023.v07i02.006Abstract
The origins and effects of world-wide standardization and native customization of advertising techniques are discussed and critically reviewed in this essay. The areas of global marketing and business strategy, with an emphasis on foreign commerce, are covered by the literature study. It also wants to underline the importance of identifying gaps in the literature. Notwithstanding the broad breadth of the studies, this paper restricts their application. First, it explains standardization and local adaptation and explores the benefits and drawbacks of each for researchers. Separate the elements of a global marketing strategy from the marketing mix. The cross-market viability of a global marketing strategy may be realised by first breaking it down into macro and micro levels so that the most important factors influencing the plan can be compiled and evaluated. Lastly, concentrate on the KPI of the criteria indicating the company's level of intuitive development; the financial return indicators were chosen as the review. The focus was on the reciprocal opinion and alteration competition between the results of multinational corporations and standardization and adaptation. Each link between them has variations between developed and emerging markets. As a trend, experts have started to observe this discrepancy in recent years. This work will concentrate on the influence of analyzing Research Articles in Real Life, despite the fact that many existing bibliographies center on certain multinational businesses or locations to analyze. It wouldn't involve a particular company or nation.
Keywords:
Standardisation, Global Marketing, KPI, Native CustomizationDownloads
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