Standardization And Adaptation Strategies of Macdonalds, Pepsi, Toyota Essay - 8

Standardization And Adaptation Strategies of Macdonalds, Pepsi, Toyota Motors in International Market - Essay Example This research will begin with the statement that the globalization of the world has totally changed the way to carry out business as companies forced to be precocious concerning the choice of their internationalization strategy. The last few decades have transformed the business world into a marketing mix where companies strive in making globalized decisions to fit the competition spectrum. With globalization, a set of universal needs has developed among people all over the globe, therefore setting a pace for companies to no longer target markets by country. Instead, they target by the segment that congregates groups of citizens from diverse countries with universal needs. This trend is so robustly present in the current world that it creates a completely different class of companies that benefit from international markets. Fascinatingly, the concepts of standardization and adaptation strategies are not new terms in the global marketing perspective. Product strategies of standardizat ion and adaptation experimental investigation have been in existence since the 1970s. Nonetheless, the entry of companies in the international arena does not come effortlessly, for many of these companies are encountered with the challenges of whether to standardize or adapt the essentials of their marketing blend. As stated earlier, the entry of Multinationals in the international market is characterized by some challenges, the researcher will analyze some of the challenges these companies are facing. A final segment of this report will be a recommendation or likely solution to the challenges these companies are facing.