How does an international marketing strategy affect the degree of standardization or adaptation for marketers? Please cite an example of a strategy affecting the marketing mix.
To the standardization versus adaptation global marketing segment offers a solution by focusing in multiple countries targeting same consumer segments in different countries by creating the conceptual framework for offering standardized products and marketing programs. Firm to formulate a global strategy could result in the one segment or multiple segments. However, to implement marketing mix for the effect which is maximum, “Think globally, act locally" would be the principle where this would become a rule which is critical for the marketing effort guide.
The best example of such global standardization vs. adaptation is McDonald where it utilizes the same quality and experience and also uses same brand and slogan for the same product even the restaurants are located in different countries where this requires the standardized processes and keeping the quality of ingredients are similar. However, the strategy used by McDonald in terms of product, price, promotion and place has slight adaptation, although it used same quality and standardization process, but the taste has been changed accordingly and target consumers for such product would be elite consumers.