Standardization vs Adaptation in International Marketing

This article discusses the debate between standardization and adaptation in international marketing strategies. It explores the benefits and drawbacks of each approach and how they impact companies' success in global markets. The article also highlights the importance of considering factors such as culture, distribution channels, currency, and coordination when entering new markets.

1. Standardization state that there is a similarity in environmental and client demands for
cultures that are united. They contend that exchange barriers are getting lower and that
innovative advances and firms are showing a worldwide orientation into their techniques.
For this school of thought, creating one technique for the global market and standardizing
the elements of the market mix can accomplish consistency with clients and in addition
lower costs.
While supporters of the global adaptation approach, accentuate the significance of
customization. The essential premise of the adaptation school, is that when entering an
international market one must consider all factors, for example, language, environment,
race, occupations, taste, distinctive laws, societies, and social orders. This school of
thought trust that multinational organizations ought to discover how they should conform
a whole marketing strategy and, including how they sell and distribute it, so as to fit new
market needs. It is vital to change the marketing strategy and marketing mix to suit local
tastes, meet certain market demands and consumers different request.
2. Internal strengths include, client demands to the absence of competition in the external
environment, technical know-how, capabilities, and many more qualifications of the
consultants will all be important to be included in the company's strength. A large
customer base with some top notch organizations cutting across Europe and America.
Solid business relations and customer driven techniques will also help in creating
industry based, sustainable value for their partners.
Internal weakness include various units cooperatively working with the customers and
with each other. This may prompt conflicts if we lack internal coordination. Due to the
fact that its business is in medical and health consulting and drug sales, which forms a
major part of its income, it can be risky for the organization in the long run since running
such a large operation requires, to the point that the firm be prepared for bad budgetary
days.
3. External opportunities will include the following.
By focusing on governments and the health sectors of the targeted markets, exploiting
other emerging economies (Market advancement), Superdrugs can build its income

significantly more. Expansion may give us room to acquire some other firms who are as
of now established. Such acquisitions can increase the analytic strength of Superdrugs
and help in its expansion. Superdrugs may likely diversify into other areas based on the
social qualities and assets of its host environment which will likewise increase
organization income. Likewise, this diversification will be a cushion during difficult
financial times.
The threat to be considered include the following.
There is bound to be tough competition from rival companies that are also well rooted in
drug manufacturing and sales. This is an area of concern for the company. If there is ever
a financial downturn, it will be intense for the organization due to over dependability on
premium customers. The very large customers will always be the main ones to be
affected gravely by the financial downturn. Hence, the income drive to Superdrugs will
drop gravely.
4. A competitive analysis permits you to identify your competitors and assess their
individual strengths and weaknesses. By knowing the activities of your competitors, you
will have a superior understanding of the services you ought to render; how you can
market them adequately; and how you can position your business. Competitive analysis is
a continuous process. You ought to always gather information about your competitors.
Converse with your clients to perceive how they feel about competitive services. Each
business has its own competition, and you have to discern who your clients can approach
to get a service rendered to them. Regardless of the possibility that your product is really
innovative, you have to consider what else your clients would buy to perform this task.
After you've made sense of who your competitors are, determine their strengths and
discover what their weaknesses are. Why do clients purchase from them. Is it cost?
Value? Comfort? Reputation? Focus more on perceived strengths and weaknesses as you
do on real ones. This is on the grounds that client observation may really be more
imperative than reality.
Porter's diamond is a model utilized as part for the analysis stage of the planning process.
Porter proposed that there are four primary components which decide national
competitive advantage and showed them in a diamond form.

Factor conditions
Ideal factor conditions include:
(i) Physical assets, for example, area, minerals and climate
(ii) Capital
(iii) Human assets, for example, skills, cost and industry relations
(iv) Knowledge that can be utilized successfully
(v) Infrastructure.
Porter likewise found that nations with factor disadvantages were compelled to innovate
in order to beat these issues, e.g. Japanese firms experienced high energy costs and were
compelled to create energy effective products and procedures that were later requested
around the world.
Value Chain Analysis is a useful tool for working out how you can create the greatest
possible value for your customers. Value Chain Analysis helps you identify the ways in
which you create value for your customers, and then helps you think through how you
can maximize this value: whether through superb products, great services, or jobs well
done.
5. Positioning is an essential part of launching your product and company in the market.
Positioning creates an image of your company’s product in the mind of your target
customer. There must be a solid home market demand for the products. This determines
how commercial enterprises see and react to customer needs and creates the pressure to
innovate. You must define the market and your company’s place within it. This involves
positioning your company to visionary buyers as a thought leader within an emerging,
highly promising market category. You must also demonstrate your product’s benefit or
competitive advantage against existing products and the status quo. From a high-level,
the goal of a marketing strategy is to identify a target market and develop a marketing
mix that will appeal to those potential customers.
6. There are five strategies utilized by firms for entry into new international market.
Technical innovation strategy
Product adaptation strategy

Availability and security strategy
Low price strategy
Total adaptation and conformity strategy
Typical methods for growing the markets are by extension of product line, geographical
development or both. Note that the more the product line and/or the geographic area is
extended, the more will be the managerial complexity. New market opportunities might
be made accessible by expansion yet the dangers may exceed the benefits, actually it
might be ideal to focus on a couple of geographic zones and do things well. I would
prescribe the method of entry we pick is by exporting or licensing on the grounds that
they have the most reduced risks and its advantages is considerably more than it
disadvantages.
7. The marketing mix is fundamental to the decisions we make in marketing. They shape all
marketing activities. The marketing mix as propounded by McCarthy is product, price,
place and promotion.
Product
Must meet client demands, whatever it may be.
Place
Around one fifth of the cost of a product is spent getting it to end users. Obviously, the
real figure differs broadly from product to product however, distributing products to end
users is very important in the mix. Different companies use diverse ways to get to their
clients.
Promotion
This is the process of communicating with clients. For the purpose of marketing,
communications of products and services adds to the persuasion procedure to urge
customers to benefit themselves of whatever product is on offer.
Pricing
Should be pertinent to the product/service and the market. For instance, BIC the maker of
razors, pens and lighters tries to give the world's market products at moderate prices. A
company's pricing strategy is frequently aimed at drawing a particular market segment.

Aside from the marketing mix, there are other imperative factors which a marketer trying
to delve into other markets ought to prioritize in order to accomplish his goal. They are
but are not limited to culture, channels of distribution, currency, control and coordination.
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