Discussion-Global standardization

Only 2 to 3 paragraphs answer:

International companies need to decide how much to adapt their product and marketing strategies to local conditions. At one extreme, there are supporters of "global standardization" - complete consistency of products and communications across countries. At the other extreme we have "global adaptation" - which says that everything (product, price, communications, etc) should be adapted to local conditions.

Have a look at a few companies applying a global marketing strategy quite successfully  - article here.

The "right" answer almost always involves finding a balance between extremes, but let's look at the factors that might favor global standardization or adaptation. What are the advantages/disadvantages of global standardization?