Consider this statement: Cultures around the world are becoming increasingly sim
ID: 342626 • Letter: C
Question
Consider this statement: Cultures around the world are becoming increasingly similar, so companies should standardize both their products and global marketing efforts.
1. Do you agree or disagree with this line of reasoning? Explain.
2. Are there certain industries for which the statement might be more or less true?
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Explanation / Answer
Solution:-
“Cultures around the world are becoming increasingly similar, so companies should standardize both their products and global marketing efforts.” I partially agree with this statement.
Yes, Cultures around the world are becoming increasingly similar thanks to globalization, communication mediums and other number of things. Companies should standardize their products at some extent because there is always some proportion of consumer who are travelling and living around the world, tourists, students, professionals, players are some of the example occur under this category. Global marketing strategies should be redesigned and reconsider due to cultural similarities and differences occur worldwide. Mass marketing strategy should be adopted for products which make global appeal for example coke. While targeting specific population make sure that it have something unique regarding that targeted market.
Industry wise strategies varies, some strategy for food industry will not be applicable for steel industry. So, yes, there are certain industries for which it might be more or less true. For e.g. Apparel industry, the fashion and clothes are generally according to weather conditions of specific location, so it’s quite obvious that strategy for clothes in Thailand and clothes in London will vary. On the other hand due to cultural similarities and globalization, food from all over world is available and having market. Like we see Chinese food stalls are everywhere just little difference is change in recipe to match local flavor. Standardization of products due to similarity in culture will not any effect on raw materials of any industry for e.g. textile production and marketing will be same with respect to change in strategy of apparel industry.