Global Standardization and Local Adaptation of Marketing---A Critical Review of the Literature

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DOI: https://doi.org/10.30564/jbar.v4i2.2887

Abstract:

This paper discusses and critically reviews the causes and consequences of global standardization and local adaptation of marketing strategies. The scope of the literature review is in the fields of international marketing, international trade, and corporate strategic management. It also aims to emphasize finding gaps after reading the literature. Even though the studies’ scope is extensive, this paper limits the reach: firstly, it introduces the standardization and local adaptation, discusses the advantages and disadvantages of both by researchers. At the same time, untangle the relationship between international marketing strategy and marketing mix. Secondly, it is divided into macro and micro to collate and analyze the leading factors affecting international strategy, so that the cross-market fit of global marketing tactic can be realised. Finally, focus on the KPI. The indicators of financial return were selected as the review from the factors representing the intuitive development level of the company. The goal was to concentrate on the mutual feedback and adjustment between the standardization/adaptation and performance of multinational companies. Among them, the diversities between developed and emerging markets are interspersed in each link. As this difference is a trend that scholars have begun to notice in recent years. Although many existed bibliographies are revolved around particular multinational companies or regions to assessment, this paper will focus on the impact of practical research article review and evaluation. It would not involve specific corporate and country.

References:

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