Identify three disadvantages and three advantages of standardizing the marketing mix worldwide
What will be an ideal response?
Students should identify any three of the following disadvantages. Standardizing the marketing mix:
? ignores differences in consumer needs, wants, and usage patterns for products
? ignores differences in consumer response to marketing-mix elements
? ignores differences in brand and product development and the competitive environment
? ignores differences in the legal environment
? ignores differences in marketing institutions
? ignores differences in administrative procedures
Students should identify any three of the following advantages. Standardizing the marketing mix:
? helps the company achieve economies of scale in production and distribution
? lowers marketing costs
? increases power and scope
? fosters consistency in the brand image
? offers the company the ability to leverage good ideas quickly and efficiently
? allows for uniformity in marketing practices
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