Answer to Question 1
When managers build on commonalities in customer preferences and attempt to standardize their international marketing program, they can expect at least three major benefits:
a. Cost Reduction: Standardization reduces costs by making possible economies of scale in design, sourcing, manufacturing, and marketing. Offering a similar marketing program to the global marketplace or across entire regions is more efficient than having to adapt products for each of the numerous individual markets.
b. Improved Planning and Control: Standardization provides for improved planning and control of value-adding activities. Fewer offerings mean that management can simplify quality control and reduce the number of parts that it stocks for repairing defective products. Marketing activities are also simplified. Instead of designing a unique marketing campaign for individual countries, the firm is able to standardize its campaigns.
c. Ability to portray a consistent image and build global brands: A brand is a name, sign, symbol, or design intended to identify the firm's product and differentiate it from those of competitors. A global brand is a brand whose positioning, advertising strategy, look, and personality are standardized worldwide. Standardization allows the firm to establish and project a globally recognized corporate or product brand. It increases customer interest and reduces the confusion that arises from proliferation of products and marketing programs.
Answer to Question 2
TRUE
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