What is Global Standardization ? The general definition of global standardization is the ability to use standard marketing internationally. In other words, it’s the ability for a company or business to use the same marketing strategy from one country to the next, and across various cultures.
Adaptation strategy implies changing various aspects of products and services to a considerable extent in order to meet the needs of consumers in international markets taking into account their differences (Chung, 2009).
Product adaptation means that the firm adapts the product to the local markets. It is the process of modifying products for different countries and regions or designing new products for foreign markets. Product standardisation means that the firm sells and advertises a standardized product in the international context.
Firstly, McDonald’s uses a strategy of standardisation by offering identical products worldwide, for example, the Mc Chicken, the Filet-O-Fish, the Happy Meal, the Mc Nuggets, or the Mc Flurry. Those are products that everyone knows all around the world and that helped build the company’s strong brand image.
An example of standardization would be the generally accepted accounting principles (GAAP) to which all companies listed on U.S. stock exchanges must adhere. Standardization ensures that certain goods or performances are produced in the same way via set guidelines.
Global Marketing Strategies Red Bull . Airbnb . Dunkin Donuts . Domino’s. Rezdy . World Wildlife Foundation. Pearse Trust. Nike .
The most important thing to consider is the company’s ability to adapt to the differences in international markets . Adaptation allows a company to individualize its marketing strategies and optimize itself for success in international markets .
What is an Adaptation Strategy ? An Adaptation Strategy aims to increase society’s resilience to climate change. It is a framework for managing future climate risk, prioritising and coordinating action. It offers the potential of reducing future economic, environmental and social costs.
The word ‘ International Marketing ‘ is defined as the exchange of goods and services across national borders to meet the requirements of the customers. It includes customer analysis in foreign countries and identifying the target market . The major participants in international marketing are as follows −
Behavioral adaptations are the things organisms do to survive. For example , bird calls and migration are behavioral adaptations . Adaptations usually occur because a gene mutates or changes by accident! Some mutations can help an animal or plant survive better than others in the species without the mutation.
Manufactures: Rationalize different varieties of products. Decrease the volume of products in the store and also the manufacturer cost. Facilitate the exportation and marketing of products.
Standardization is the process of creating standards to guide the creation of a good or service based on the consensus of all the relevant parties in the industry. Standardization also helps in ensuring the safety, interoperability, and compatibility of goods produced.
In McDonald the business strategy for the company is to make food fast available to its customers at a very low competitive price but to get profit as well by reducing the cost of the product and expanding the business world wide. Operations strategies play a very important role in achieving organizational goals.
The international strategy of McDonald’s is often referred to as the glocalization strategy . The glocalization strategy involves the integration of the global and local. This model has allowed the brand to practice standard operations while adapting to the local and global culture.
The first key to McDonald’s success is their uniformity. Another key factor to the success of the global brand known as McDonald’s is strategic market segmentation. McDonald’s is aware of which audiences are their biggest players and consumers.