Standardized Versus Localized Strategy: The Role of Cultural Patterns in Society on Consumption and Market Research
Abbott J Haron*
Business Department, Higher Colleges of Technology, Abu Dhabi, United Arab Emirates
- *Corresponding Author:
- Abbott J Haron
Instructor, Business Department
Higher Colleges of Technology
CAA institution, Abu Dhabi
United Arab Emirates
Tel: +971 2-681 4600
Received Date: December 13, 2015 Accepted Date: December 29, 2015 Published Date: January 09, 2016
Citation: Haron AJ (2016) Standardized Versus Localized Strategy: The Role of Cultural Patterns in Society on Consumption and Market Research. J Account Mark 5:151. doi:10.4172/2168-9601.1000151
Copyright: © 2016 Haron AJ. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Many companies are realizing that industry competition has moved past being only domestic approach to a global approach. Hence, when a competitive analysis is prepared, it is not sensible for businesses to limit the analysis to just a domestic approach. Corporations need to prepare competitive analysis with a global understanding and global scale. The author reveals that the prevailing literature on international marketing presents two key schools of thought on how international marketing should be performed. In addition, part of this paper will discuss these two phenomena, which are specifically standardization and localization. This paper discusses the advantages and disadvantages of both approaches for both the corporation and customers and discusses a strategy which would enable companies to take advantage of both phenomena and minimize the impact of the particular disadvantages. Furthermore, the author discusses the significance of having a profound appreciation of various markets and the degree cultural patterns have on consumption, as well as approaches on how to conduct effective marketing research.