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Standardization/Adaptation of Marketing Solutions in Companies Operating in Foreign Markets: An Integrated Approach

Keywords: internationalization , globalization , marketing solutions , standardization/adaptation of marketing solutions , glocalization

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Abstract:

Analysis of the change of marketing solutions in the process of internationalisation of a company reveals that the formation of marketing strategy in international markets is an evolutionary process and decisions made during that process differ based on the stage of international development of the company. As activities evolve, companies encounter a critical choice: to standardize or to adapt strategic marketing solutions. The use of competitive advantages acquired during unique multinational operations is the main success factor when forming a marketing strategy in the global market. Until now most research claimed that in order for a company to be successful in foreign markets, it should evaluate its marketing solutions and experience and to choose one strategy – standardization or adaptation – when pursuing its aims. But researchers still do not agree on the definitions of standardization/adaptation and analyse these strategies from different aspects of these strategies.

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