Chapter 11, Problem 1TAI1

Summary Introduction

To Determine:

If you agree or disagree with the given line of reasoning

Introduction:

Globalization and technology have increased the interaction between the different nation's markets. The ease of access to international markets has resulted in similar cultures and markets around the world. In other words, Globalization and advanced technology are rapidly removing the cultural differences.

Given information:

According to the given statement, Cultures around the world are becoming increasingly similar, so companies should standardize both their products and global marketing efforts.

Answer to Problem 1TAI1

Solution:

Yes, I agree with the given statement.

Explanation of Solution

The given statement can be seen a sort of current scenario and a perfect picture of the future. Globalization and technology have increased the interaction between the different nation's markets. The ease of access to international markets has resulted in similar cultures and markets around the world. In other words, Globalization and advanced technology are rapidly removing the cultural differences.

So it becomes necessary for organizations to standardize both their products and global marketing efforts.