Global Marketing and Marketing Management - Essay Example

Thanks to his established brand, his company managed to establish and maintain a standard marketing mix within which he operated. It is to be noted that the lack of significant competition at the time made him survive. However, with increased competition, variations became distinct, and his approach was no longer appropriate. b. The strategy currently in use by Levi Straus is rather a complex mix, whereby managers have the authority to standardize the marketing mix with respect to their specific local markets.

Elements of marketing that Levi Straus changed are decentralizing the marketing responsibility to the local managers. He also introduced new styles for satisfying a variety of style preferences for the customers (Levitt, 1983). c. His new strategy has a high potential for profitability fostering the growth of the company. Although the autonomy of managers is at the expense of economies of scale for advertising, for instance, consumers’ needs are addressed more efficiently. d. The story shows deep insights into the effects of globalization.

The assumption that standardization will result in a perfect market mix has been proved wrong. Rather the customization of styles to suit the customers is preferred. Critical analysisIdentification of important informationWell, the student shows comprehension of the subject in question. However, it is clear that they miss the point when answering the question of the elements of the marketing mix as used in different nations. A straightforward answer would have been more appropriate in that case.

At that, the student fails to identify the most important information as required by the question. In the identification of the main conclusion drawnThe student attempts to hit the bottom line of the questions, but their ways of supporting their notion fall short. Despite sharing deep insights into the questions asked, the student fails to support their arguments in a convincing manner. The result is that, although showing great potential for knowledge in the questions, the student lacks the ability to link elements of their answers conclusively.

Analyze key concepts in order to understand your student’s line of reasoningThe student’s response to question five indicates their line of thought as that of using cost-cutting measures in local markets in an effort to enhance the growth of the company. Furthermore, they assume that the specialization of local markets is supposed to customize the customer’s needs consequently yielding profit. Question 6 is tackled by the student’s use of the market mix concept by which they try to explain how reduced competition in the past favored standardization of market elements.

The student continues to acknowledge the current competitive market that renders a standard market mix as simply incapable. Rather tailoring products to customer preferences is expected to yield a competitive advantage for the brand (Levitt, 1983). The underlying main assumptions of your classmate’s main thinking. The student assumes a globalized market. The anticipated implication of such a condition is increased competition among members of a specific industry as well as improved quality of products.