So, it can be said that globalization complements the standardization of company’s products in various markets around the world, and as a result plays a major role in the influencing and changing the consumer behavior of the masses in various markets around the world. There are some widely popular examples that can be quoted to demonstrate the globalization strategy of companies when they focused on treating the world as a single entity. It has to be noted that different category of products like beverage drinks, electronic goods, music products, clothing accessories implement the strategy related to globalization. The popular sports brand Adidas implements the strategy of globalization for the purpose of communicating value to its customers around the world (Pride and Ferrell, 2010, p. 194). Another company that increasingly categorizes the world as a single entity for the purpose of marketing its standardized products is the globally reputed beverage brand Coke which caters to consumers around the globe, with its widely popular product range which are homogeneous in all markets around the world (Czinkota and Ronkainen, 2007, p. 313). Various companies that have the clothing based product offering like that of Levi Jeans etc, also focus on standardization of its products while offering it to consumers in various markets around the world. Localization Localization happens when companies of a particular country focus on the process of going for market development by entering in to new markets in the country (Hines, 2000, p. 27). Talking in these regards, it can be said that the companies while focusing on the designing of...
As a matter of fact, it can be said that there is a great demand for various new as well as existing products and services in the marketplace. In an attempt to cater for this demand, various companies around the world are focusing on fulfilling this demand by entering into new markets or catering existing markets by offering new values based products and services. This paper discusses in details the multiple processes that companies implement for the process of value generation for a wide range of customers while maintaining their levels of profitability.
As of today’s date in an attempt to survive the cut throat competition in the marketplace, the companies around the world firmly believe, that the process of entering into new markets through the carefully designed strategic moves related to product development, market development, product penetration and diversification will help them achieve significant amount of business growth in the upcoming future. So, the companies are looking forward to implement the various methodologies like globalization, localization as well as glocalization.
On a concluding note, it has to be stated that in this particular assignment, the global brand Apple is taken because of the brand’s significant amount of presence in various markets around the world. The other important factors behind the selection of this particular global brand are the process of high brand equity as well as high consumer demand around the world.