mkt 620 3-2 short paper

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Apr 3, 2024

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Running Head: 3-2 SHORT PAPER 3-2 Short Paper: Global Marketing, Localized or Standardized Strategy Selection Jordan Sadler Southern New Hampshire University MKT 620: Consumer Behavior & Marketing Professor Chellberg

Running Head: 3-2 SHORT PAPER Localization or Standardization There are many factors for a business to consider when thinking about expanding a United States based product to a global market. It takes a lot of research, time, and data collection to prepare an effective marketing strategy for a global launch. Because of the differences that are present in culture, language barriers, and local market preferences, marketing strategies might need to be adjusted to help ensure that the product will be successful in new markets. It is very important for businesses to consider adopting new approaches that address these differences in order to successfully enter into new international markets. Businesses must first have a thorough understanding of the market that they are entering to craft a comprehensive and efficient marketing strategy. By investing time in understanding the target market, businesses can position themselves for success and growth within the global marketplace. Once a business has a solid understanding of the target market they are entering, they can then go into deciding whether a standardized or localized marketing strategy would be the best approach at the product launch. A standardized marketing strategy delivers consistent messaging across all markets. With a standardized strategy, businesses ensure that their products and the way that they are marketed are typically the same everywhere around the world regardless of the country or culture. The goal of this strategy is to reduce cost and complexity while creating a universal experience for the brand. Some of the advantages of standardization are creating a uniform brand image and economies of scale. Because this strategy means marketing all products the same everywhere and using the same marketing campaigns everywhere, this can help create a consistent brand image. This can be very beneficial for larger companies that already have a global reputation (Global standardization vs localization: Choosing the right strategy for Success, 2023).

Running Head: 3-2 SHORT PAPER A localized marketing strategy would be tailoring marketing strategies and campaigns at the local level and considering each market individually. When using a localized marketing strategy, marketing content is created to connect with the local audience. Not only does it take into account the language that is spoken, but also the different customs and belief systems. Localization can also help a business bypass culture barriers, and businesses that become localized fasted typically grow more quickly. Creating localized marketing content also shows clients that they are important to the company. Localized content typically resonates better with local consumers, and shows that businesses have a deep understanding of local markets. Clients become more comfortable with a business when they provide culturally appropriate information and services during the customer journey. In turn, clients will spend more money with your business if they feel that their needs and preferences are truly being understood and met (Global standardization vs localization: Choosing the right strategy for Success, 2023). I believe that using a hybrid of both the standardized and localized strategies would be the best approach for a U.S. based product expanding into a global market. A balanced approach that blends the advantages of both strategies could be the best route for a successful global expansion. To accomplish this, businesses must consider which aspects of their marketing program can be standardized and which elements will see the most value from localization. This decision will depend on a variety of factors like product category, target market, cultural nuances, etcetera. Businesses should be able to maintain brand identity and core product features while also tailoring marketing content to align at the local level. A successful global strategy should be flexible and using a blend of both standardization and localization. Maintaining brand integrity while also being adaptive to cultural and local differences will allow businesses to successfully introduce their products into a global market.

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Running Head: 3-2 SHORT PAPER References Global standardization vs localization: Choosing the right strategy for Success . Acclaro. (2023, February 16). https://www.acclaro.com/academy/global-standardization-vs-localization- choosing-the-right-strategy-for-success/

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