Answer to Question 1
Targeting luxury markets often allows international marketers to use a global standardization strategy. Luxury products typically target individuals with high incomes who are likely to have similar needs and wants and an equal ability to pay. Given this, luxury products are much more likely to have a global price. Otherwise, products could be purchased in cheaper markets and returned to local markets possibly to enter into a grey market.
Answer to Question 2
A global product can create economies of scale in R&D, production, and marketing. It also allows a company to compete against other global marketers. However, developing a global product is not always possible, and product adaptation may be required. For instance, products may be used in different environmental situations. They may have to operate in different political and legal environments. Consumers may have different cultural needs and norms. Local competition in foreign markets may be different than in domestic markets, and customization may be necessary to gain a competitive advantage.
International Television Viewing Rates in Childhood In most developed countries, children watch TV
What kind of dog is it?
Climate change by international treaty
Farmers’ markets provide fresh, local produce to consumers
International space station
Harry and Gus fish the same lake together from the same boat. Each morning Harry typically ...