Explain the advantages and disadvantages of the global standardization strategy
Answers
Answer:
Explanation:
The advantages of this include:
*Lowered costs since the company employs similar strategies across different outlets and this helps them enjoy economies of scale.
*It ensures they protect their brands adequately since changes and differences in the offerings expose the brands to risks.
Disadvantages of standardization include:
*Lack of adaptation, since markets are different and dynamic, standardization is always challenged to meet these changes.
*Lack of uniqueness; different outlets and regions offer unique opportunities which may be beneficial to the company, but due to standardization these opportunities are not acted upon since all outlets are forced to conform to the standard practice.
Answer:
The U.S. economy is big enough to accommodate thousands of small businesses, but that doesn’t mean that you shouldn’t be looking for ways to extend your reach to a new group of consumers. If you’ve targeted your customers properly, your ideal consumer won’t change when you decide to promote your products and services to the international market. More importantly, you can market to your overseas customers using social media platforms and your website content, which cuts down on marketing