Which Approach is Best for Competing Internationally.Competing Internationally Approaches

Competing Internationally Approaches

International competition can be approached from many angles. These include the global standardization and local adaptation approaches, as well as the transnational. Kim and Hwang (1999) found that global standardization involves the creation of a standard product or marketing strategy that is applicable to all countries. Companies with strong brand recognition, loyal customers and an effective marketing strategy can benefit from this approach. The local adapt approach, on the other hand is about customizing marketing and products to meet the needs of specific markets. It is common for companies with multiple products or markets to use this method because it helps them better serve their customers (Hitt and al. 2020).