Introduction 1
Global Marketing, Business Analytics, and R&D
Can reduce costs of value creation and add value by better
serving customer needs in the global marketplace.
• Includes distribution strategy.
Mass production of a standardized product can generate unit cost
reductions, but ignoring country differences in consumer tastes
can lead to failure.
Globalization of Markets and Brands
Globalization of World Markets
Theodore Levitt: world markets are becoming increasingly similar,
making it unnecessary to localize the marketing mix.
May be true for bulk industrial products, but not necessarily for
consumer products.
• Consumers may prefer local options if they exist.
Trade barriers and differences in product and technical standards
also limit the ability of firms to sell a standardized product to a
global market.