Graded Discussion Board No.1 International Marketing (MKT630)

[Shahid Ali]

Due Date: 01/12/2015

Total Marks: 10

Topic: Globalization of Markets

Learning Objective:

The discussion will enable the students to understand the standardized and localized approaches in setting the global strategy.

Learning Outcomes

After attempting the GDB student will be able to understand the variations in the marketing mix across the countries.

The Case:

Standardization refers to manufacturing, marketing or employing the processes in a standard way. If a company offers a product, which is undifferentiated between any of the markets to which it is offered, then standardization is taking place. Localization is mixing standardization and customization in such a way that it minimizes costs while maximizing satisfaction. The great benefit of standardization is the ability to compete with low costs over a large output.

McDonalds uses both standardized and localized strategy against each element of the marketing mix. In the product category, BIG MAC is the standardized product whereas McAloo Tikka potato burger (India) is the locally customized product. Similarly it uses its brand name “McDonalds” globally but Slang ’Macca’s (Australia), MakDo (Philippines), McJoy magazine, “Hawaii Surfing Hula” promotion (Japan) are the other promotional names in different local settings. Free-standing or self-service are the standardized placement approaches used by McDonalds but Home delivery (Pakistan) and Swiss rail system dining cars are the localized strategies. A Big Mac costs 5.21 (Switzerland) and $1.31(China).

It is not difficult to think about the standard marketing mix for a product and how this might vary from one country to another. The product must possess characteristics that make it acceptable for the market - these may be features like size, shape, design, performance and even color.

Point of Discussion:

Considering the above scenario do you think, is it significant for the companies to have both standardized and localized strategies? How do you think the standard marketing mix for a product in different countries could vary? (5+5=10 Marks)

[Shahid Ali]

Please share your ideas regarding the GDB solution and help others quickly.

[+ M.Tariq Malik]

Please Discuss here about this GDB.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

[M Saleem]

Q.1

Considering the above scenario do you think, is it significant for the companies to have both standardized and localized strategies?

If a company offers a product, which is undifferentiated between any of the markets to which it is offered, then standardization is taking place. 

Localization is mixing standardization and customization in such a way that it minimizes costs while maximizing satisfaction. 

Please discuss.....

Q. 2

How do you think the standard marketing mix for a product in different countries could vary?

????????????

[Rockon Nabeel]

Guys discuss please