�uA����@�,�vYon��[J,*��p����Y��ؾ5\�1����B��J��.j�����3"����w��%�\��[q��-�WQ��I3o0�[P�. The concept of Brand Adaptation calls for the reuse and a minor change in the visual, typographical or messaging elements of a brand and its overall branding strategies by the firm. Within the field of international business marketing, decision of standardization or adaptation issue is one of the longest debates. A business may change a brand name in a foreign language-heavy new market where the name corresponds to an unflattering or brand-damaging word or idiomatic usage in the foreign language. Brand adaptation calls for retooling any number of the visual, typographical or messaging elements of a brand. This product adaption refers to the process of modifying the existing products in order to reach to each market. Adaptation strategy implies changing various aspects of products and services to a considerable extent in order to meet the needs of consumers in international markets taking into account their differences (Chung, 2009). In such cases, it is possible that the brand name corresponds to an unflattering nature or a brand … This is a strategy mostly used by Multi-National Companies(MNCs). 2. Furthermore, there should be uniformness in brand core values or visible organizational cultural aspects. This is an opposite approach to an adaptation strategy, under which multinational companies differentiate their product and adapt it to fit the unique needs of countries. This marketing strategy has also several advantages and disadvantages to the firm and the market as well. �,o�k ��:�s��ld�� z�����* %����_Cj�R�$A��Ќ$�����X����0C�`��������\ᐣ"n��6��C9׎ t��$u��W\6FM�=�����D� �1���NG�Y6�cV؂0K�ɸ]e�2�#�yGI�ړ�b�|��Յ g��F���@,O@o2m$�����9�!�y��ډ����T#�J������Q�sG�7 p/b2������#�i� As a business enters a new market, it must cope with cultural and demographic differences in the way it handles marketing. This research paper examines the issues of standardization (global strategy) and adaptation (customization) in global marketing strategy and suggests methods that can guide multinational companies compete effectively and efficiently within the international markets. Social Media, Digital Marketing & Adaptation. Marketing, 10th Edition; Roger A. Kerin, et al. An alternative, the adaptation marketing strategy, forgoes universality in favor of tailoring marketing to appeal to the cultural or demographic particulars of customers in the new market. Globalization has helped in reducing the differences between countries. A new market may respond favorably to a business’ brand messaging, but not its products. Previous researches in marketing literature have noted the international marketing mix activities. These errors can be partly attributable to the insufficient awareness of how Standardization and Adaptation work in international markets. Most of those studies examined the marketing mix activities with theoretic arguments (Grönroos, 1994) and focused on standardization or adaptation of the marketing mix strategy (Lariomo and Kontkanen, 2008). �@�3��m'=`������I�Rd�QL>�p�$�ˎ�X ��tEm�.�*�ZWæV�f��!�S�������vWJN?����)�k�J�65ϥ��(�)k+~5�b�A,x�&�Ro���*�����bA�)���k-�t��,�ƃ�YX ���H� �4�i�5���~^��i*�v}�\?A�SP����X�zm9G��9gHk���+�b;Z}W��Ro�(�~J!8$�:$g6�È \jӱ�k��AC�Jo�����=_v�8�� ��77�т Product adaptation may not be the most cost effective, but it has shown to affect product performance positively (Calantone et al., 2004). Adaptation versus standardization The main goal of a global strategy is management of the great differences that emerge beyond domestic borders (Ghemawat, 2007a). The subject of marketing strategy and marketing mix element adaptation versus standardization has been the subject of much marketing … It may be redesigned or repackaged to meet the diverse bu… ����SF"g�y&}��d#+�g���E����RV��ĭW�W�9��I�`.��4��o���^ˠ����% ���Y�a��f���zm�ߊ5���-Z?��4ّPۛko������bN��2�I�? )ɣn�m�gb8y{�͚��� Product adaptation is vital for companies that export their goods to foreign nations as it enables them to meet the foreign laws and re… Product adaptation is the modification or changing the features of a product to reach new customers or new markets. The survey obtained information on the extent of adaptation across the marketing mix elements and on company, industry, and market factors that influence this process. The differences between MNCs’ home markets and the emerging markets in external environment could make different of international business marketing strategy and influence performance of MNCs. The theoretical framework of this thesis was constructed based on the literature of standardization and adaptation strategy, the marketing mix and the influences of culture on international marketing. Both international of businesses and an increasing level of globalization have had a significant impact on how businesses plan and view their global marketing strategy (Wang & Yang, 2011). Price adaptation is a major device by which a firm attempts to implement its marketing strategy with regard to channels of distribution. In these cases, a business can opt to alter or even develop products to incorporate specific needs or cultural practices. The results indicate that adaptation is greatest for distribution, followed by price, promotion, and product. Full adaptation strategies often prove cost prohibitive, as they often require building new marketing campaigns from the ground. There will likely be differences in business regulations and laws that must be … Adaptation strategy offers advantages of meeting differences of local markets at various levels, and in this way achieving greater levels of customer satisfaction. Adaptations in International Marketing Adapting the Brand Message. Heinz. Its platforms are usually underestimated in their infancy. Price variations may reflect differences in marketing tasks performed by various types of resellers or differences in the competitive environments in which they operate. A business should weigh the financial costs against the probability of success before embarking on an adaptation marketing strategy. Acquiring a brand also gives a business the chance to leverage the experience of that brand’s management staff. Since the start of the 1980s, globalization issue has developed significantly and critical to modern businesses. It may also include manufacturing a new product with basis of customizations of a product already in existence. Global Marketing Standardization Versus Adaptation by Coca-Cola... Marketing Coca-Cola Global Marketing strategies Introduction The Coca-Cola Company is the world’s leading manufacturer and marketer of non-alcoholic beverage concentrates in the world with sales and operations in over 200 countries. In some cases, a business can find it more productive to create a new brand or acquire an existing brand instead of revamping the existing marketing. @article{Otuedon2016StandardisationVA, title={Standardisation versus Adaptation as an International Marketing Strategy: The Role of Cultural Pattern in a Society and its Effect on Consumption}, author={McLeish Ukomatimi Otuedon}, journal={Journal of Marketing and … Product Adaptation – Communications Extension: Alternatively, firms might adapt their product but … Repositioning can result in substantial short- or long-term loss of market share if the strategy drives off existing customers without replacing them with new customers. An alternative, the adaptation marketing strategy, forgoes universality in favor of tailoring marketing to appeal to the cultural or demographic particulars of customers in the new market. The drawbacks include potentially alienating consumers, misaligned positioning, %PDF-1.4 A business that caters to a particular immigrant group might provide packaging that features that population’s native language or develop a product that closely mimics a difficult to import item in common use in that group’s home country. Social Media as a whole has had two constants in its relatively short life span on the Internet:. Standardization. Marketing messages for a brand that work in one market or market segment can fail spectacularly for others. x��XKoEE����(��D̂���NĎ68��� ���Gb�c�I W\8�8�S��#���3�����^����S�������S�(���v�s\�Z������û��l�8-�����c�2EO��d�`�{�x��˨�^kU���q�UICm��J��ɽJ[�N[�ikɩq�6��S��ۃ��J0�����Q�`�ܮ��*�ʧh�|����˞D�{W'��-�e9CH�Ǖ�.H�����Y�w��$�i�Q�����;��ez�YEi2��x;֐�TT2م��@X�tV��9���Y��Q�-v5E�D�h 11������2����I�rI~�%i1Iʕ[aW <> The authors conceptualize that adaptation of a marketing-mix component is a purposeful process that is influenced by a firm’s past adaptation strategy, and they investigate the importance of that marketing-mix component to the firm’s success. 5 0 obj The opposite of adaptation is standardization. There are several product adaption strategies that an entity can use such as product, target market, package and design, ingredients, language, culture, religion etc. Advantages & Disadvantages of Business-Level Strategy, International Business Review: Standardization Versus Adaptation of International Marketing Strategy: An Integrative Assessment of the Empirical Research, Media Horizons: Brand Repositioning – Adapt or Die, Ad Age: Just as People Adapt to Cultural Shifts, So Must Brands, Wharton School of the University of Pennsylvania: Managing Brands in the Global Markets – One Size Does Not Fit All, The Role of Social Media in International Branding. This approach has the advantages discussed below for both the customers and the company globally and locally (Solberg 2000). Adaptation marketing strategies can also fail to overcome customer loyalty to established local brands. Has also several advantages and disadvantages to the process of modifying the products. 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