Reflective Portfolio 05204 Essay Example | Topics and Well Written Essays - 3000 words

Reflective Portfolio 05204 - Essay Example The emergence of globalization has highly influenced various internationalisation strategies of organisation in terms of their international trading procedure. Various organisations have started to market their products within a global platform, it has become essential to analyse and select various internationalization strategies such as standardization or adaptation of the marketing mix (Hise and Choi, 2011). Schmid and Kotulla, (2011) have described that increase in technologies has created a union of culture and similarities in customer demands. Therefore, this situation has developed the practice of standardization of international trading. Standardization approach has assisted organisations to achieve economies of scale while efficiently monitoring the global communication. The standardization of international trading strategy of Coca-Cola Company has enabled the organisation to treat their different market as a single global platform (Newburry and Yakova, 2006). Gerpott and Jakopin (2005) have argued against the implementation of standardization by stating that this process provides little scope of flexibility and marketing effectiveness while it can generate negative reaction due to neglecting local requirements. Alternatively, adaptation of local market allows marketers to modify their marketing mix as per local specifications which provide them comparatively strong hold of the global market. Different successful organisations have considered both standardization and adaptation to increase their global marketing reputation. McDonald’s has utilized both these strategies which assist them to maintain their standard in terms of product line, advertising and customer management. This process has assisted them to focus on modifying their product ingredients and specifications as per local taste preferences (Karpiarz, et al., 2014). The increase in globalized economy has also