All companies need a proper marketing strategy to thrive in the current market. However, when it comes to international business, there are many more variables they must consider.
This is where global standardization comes into play. How does it help companies to expand? Keep reading to find out!
🔝 Top 5 Global Standardization Strategy Example Essays
- TUV Nord Company's Certification & Standardization
- International Marketing Strategy
- IKEA’s Internationalization Strategy: Review and Analysis
- The Concept of Glocalization Analysis
- Global Standards in Non-financial Reporting
✈️ What Is Global Standardization: Definition
A global standardization is an approach that uses a standardized marketing strategy worldwide. It’s commonly used by international businesses to appeal to customers belonging to different cultures. It results in a globally consistent and recognizable brand image.
What Is the Goal of Global Standardization?
The goal behind global standardization strategy is to help companies keep things consistent across the international market. This approach has many financial benefits, mainly because it generates profits from many countries. It also helps companies save money on tailoring marketing strategies to different cultures.
What Are Standardization Strategies?
The primary role of standardization strategies is to deliver a consistent message conveying the same meaning across the globe. They are opposed to localization, which is an approach that requires changing the company’s marketing strategy according to the cultural norms of each country.
What Is an Example of a Global Standardization Strategy?
A great global standardization strategy example is one used by Dunkin’ Donuts. Everything from the packaging to the brand’s vibe is the same all around the globe. However, the shops are managed by local owners who introduce unique flavors that appeal specifically to their country’s demographic.
🪄 Key Elements of a Global Standardization Strategy
There are 8 elements to formulating an efficient global strategy:
- Settling on a specific service or product with the most potential worldwide.
- Understanding whether the product will create the same appeal abroad as in its country of origin.
- Understanding the market and the features of a specific culture.
- Determining which countries have the most business potential.
- Analyzing the competitors and the strategies they use.
- Setting specific achievable goals based on the company’s message.
- Ensuring uniform features of the brand, such as the logo and brand colors.
- Creating a marketing plan aimed at attaining the set goals.
🤩 Global Standardization Strategy Example Companies: Top 5
Check out the following organizations that act as notable global standardization strategy examples thriving worldwide.
Red Bull Global Standardization Strategy
Red Bull does a great job with global marketing thanks to the tactics it has applied in its strategies. One of the most successful examples of this is the extreme sports events the brand hosts, which take place all over the world. From Grand Prix to the Red Bull Air Race, these events act as great marketing strategies everyone enjoys.
Coca-Cola Global Standardization Strategy
Coca-Cola is another example of a company with a great global standardization strategy. Their approach to selling identical products everywhere has its own advantages and disadvantages, but the reliable experience is undoubtedly a benefit. Coca-Cola is also known for its heart-tugging adverts which elevate its global marketing potential to another level.
IKEA Global Standardization Strategy
IKEA’s strategy is very effective, especially considering the benefits and fame it has garnered throughout the globe. And just recently, it adopted a great global strategy which proved very advantageous for the economies of scale.
Airbnb Global Standardization Strategy
Companies such as Airbnb have efficient strategies set up to ensure growth on a worldwide scale. A great example is Airbnb’s recent video campaign, which has gathered a considerable amount of views.
Other companies using global standardization strategy include:
As you can see, global standardization is a very interesting strategy that many companies use. Have fun exploring it in your business essays!