THE GLOBAL COMPETITORS WILL SEEK TO

STANDARDISE THEIR OFFERING EVERYWHERE

 Table of Contents
Introduction ................................................................................................................................ 3

Discussion .................................................................................................................................. 3

Adaptation Strategies ............................................................................................................. 3

Adaptation of Different Elements of Product ........................................................................ 4

Critical Review....................................................................................................................... 5

Conclusion ................................................................................................................................. 6

Reference list ............................................................................................................................. 8

Appendices ................................................................................................................................. 9

2
Introduction

The Global market is considered to be integrated with increasing current competitive and
product market level around the national borders. There are different sizes of firms and
industries which eventually conceptualize the strategy on a global basis. There are various
types of approaches which have been adopted for a theoretical basis. The main focus should
be on marketing and Global Strategy. This will mainly result in accepting the process of
global marketing strategy. Different types of research studies are conducted through the
impact of globalization on the position of various competitive markets. This type of particular
framework is established to provide the strategy of global marketing, which will allow the
process of incorporation. Some dominant approaches are set in studying the Global market
and different kinds of theoretical perspectives. Some of the issues are confirmed with the
development process of Global marketing strategy developed. The initial development plan
has been refined by consolidating the strategy for the necessary improvement of efficiency
and also the ongoing process of competition in the market. The main focus is based on
various topics like adaptation and transaction cost. Different Companies must deal with their
issues that are usually related to the international markets strategy procurement process.

Discussion

Adaptation Strategies

According to Linz et al. 2017, a company is generally to be considered as a global marketing

strategy if the Company is involved in the marketing services and products. Firms like Coca-
Cola Company are famous for their non-alcoholic beverages which are expanded all around
the world. This Company controls various types of operations which are mainly managed and
evaluated with different strategies. The increase in globalization creates motivation for
MNC's Companies like Coca-cola. The various strategies followed by MNC's Companies has
developed the products and oriented services provided on the Consumers. It also depends on
the specific social need of the products or services provided by the Company.
According to Kraus et al. 2018, the advent of mass production, which generally increases the
market supply? Multinational companies like Coca-cola have focused on the global market
for the minimization of its production cost and gives quality services all around the world.
Basically, the lower-priced products also determined higher export markets for the Company
to hold the international markets. In the case of the economic conditions mainly deteriorated

3
in the time of global depression. In this period, big MNC's like Coca-cola made a marketing
shift process with a specific strategy. The definite position of the firm incurs the normal
shifting of the base from the unit of machinery. The various types of output related to human
resources are much capable of persuading the targeted customer in which it will fulfill the
different needs of the customers. The main issue is the shifting of focus from the specific
products to the customers.

Adaptation of Different Elements of Product

The adaptation of general business established around the countries with different marketing
products. It mainly suits the entire local and targeted international market. The primary
purpose of this kind of study is marketed with several preferences regarding the cultural
perspective views. The number of patterns is based on the common methods of programming
related to the mind of the customers. There are some shared types of models based on
behaviors and interactions and some affective understanding based on the process of
socialization.
According to Maynard et al. 2017, the various cultural differences mainly results from the
provided variation based on multiple values. The fundamental misunderstandings and
conflicts occur through their best benefits and healing process. The marketing mix consists
mostly of the 4P's as marketing strategies.

Figure 1: Foreign Competition

(Source: https://link.springer.com/article/10.1057/s41267-017-0083-y)
The segmentation process helps various brands in the international market, like Coca-cola, to
promote its brands. The new marketing strategies usually help to develop the new products

4
launched in the market. The frequent use of marketing strategy establishes with the mix of
undifferentiated through the process of marketing strategies. Some certain products help in
the niche marketing process for the new beverages launched by Coca-cola. The Coca-cola
Company mostly uses the positioning strategy for getting ahead of the competitors present in
the market. [Referred to Appendix 1]
The appearance of the product and support usually attracts the various customers to buy it
individually. The process of managing the products and packaging it requires necessary
planning taken in the mind of the customers. The standardized process of adapting the
manufactured product is influenced by some competing element of the marketing mix.

Critical Review

According to Busenbark et al. 2017, standardization is a standard practice of setting, which is

considered to be identical characteristics for different types of services and goods. Both
options are established for adapting the international marketing approach (Schreieck et al.
2017).The process of changing a specific product in the international market needs some
strategies for presenting the product to the needful customers. The traditional standardized
product cultures are based on the managing issues of the global firms facing in the present
time. According to the review of multiple authors, they analyze the various theories which are
accepted on the basis of the possibility of standardization of the product. Global brands like
Coca-cola mainly standardize their products with the process marketing strategy and mix.
There are different types of distribution channels in which global brands have better
bargaining power. The specific advantages created due to the global brands are based on the
supply side. The leading Global Brand is basically associated with the process of high
esteem. The impact of brand globalization has a positive effect which is perceived by the
brand prestige. The international brand's standardization strategy mainly creates various
concerns about the similar elements of the need of the customers. (jyx.jyu.fi 2020)
According to Ketter et al. 2017, mainly considers the communication strategy for the various
international brands present in the market. The four elements of the plan are based on the
proposition of the concept and execution. He also claimed to the thesis about the proposal of
the culture which never can be ignored and all the standards are to be considered to be
standardized. The competitors in the market also attempt for success and different types of
competence present in the specific standardized product strategies. The requirement of the
level of modification is needed for the product span, which is offered around the world. This

5
is mainly done for the adjustment done to the local customers of the products. Similar
techniques are primarily used by Coca Cola Company. The products which are related to the
high technical specifications are considered to be more reasonable for the process of
standardization than the products of customers. There are also many types of technical factors
that depend on specific technology turbulence and even market turbulence. These types of
turbulence mostly play a vital role in the better choice of various products. There are also
many other market factors which are related to the global product standardization based on a
product. Different types of decisions based on the various factors mainly depend on the
image of the Company, which influence the comprehensive product standardization process.
The extent of focal research issues is primarily extended with several consumer responses
elements which are related research on the global marketing strategy. Many types of research
are conducted focused on the specific cultural differences which are adapted by the new
products. The process of internationalization is created by the research findings for the
various facts of the products that are different from the original ones. Many authors have
agreed on the decisions of standardization of products at a large amount of extent, which
mainly promotes the presentation of the products. (diva-portal.org 2020)

Conclusion

The main reason for this study is to create an analysis of the various MNCs like Coca Cola
Company that mainly becomes standardized or adapting the specific product in the
international market. Multiple authors also compared this study to other strategies present in
the global market. The standardization and adaptation of the product will generally
emphasize the specific findings based on the level of MNC adaptation process. The selected
products of Coca-Cola Company which is beverages drinks offered to the customers. The
number of authors also observed the basic need for adjustments of products in the
international market is sometimes not avoided for the differences created due to local
variations. The authors also state that the markets observed on the coca-cola products based
on the level of degree present in MNC's standardization process. Coca Cola Company mainly
leans towards the standardization of the product strategy generated to stay with an identical
profile among the global markets. The main area of standardization and adaptation of many
various types of product strategy are focused on the research done in academic literature. The
adaptation process of product strategies in the global market considers the research facility

6
only. The globalization of society is also affecting the customers, and the business established
all around the world.

7
Reference list

Book
Linz, C., Zimmermann, A. and Müller-Stewens, G., 2017. Radical business model
transformation: Gaining the competitive edge in a disruptive world. Kogan Page Publishers.
Journals
Kraus, S., Meier, F., Niemand, T., Bouncken, R.B. and Ritala, P., 2018. In search for the
ideal coopetition partner: an experimental study. Review of Managerial Science, 12(4),
pp.1025-1053.
Maynard, D.S., Bradford, M.A., Lindner, D.L., van Diepen, L.T., Frey, S.D., Glaeser, J.A.
and Crowther, T.W., 2017. Diversity begets diversity in competition for space. Nature
ecology & evolution, 1(6), pp.1-8.
Busenbark, J.R., Lange, D. and Certo, S.T., 2017. Foreshadowing as impression
management: Illuminating the path for security analysts. Strategic Management
Journal, 38(12), pp.2486-2507.
Ketter, W., Collins, J. and Weerdt, M.D., 2017. The 2018 power trading agent
competition. ERIM Report Series Reference, (2017-016).
Schreieck, M., Hakes, C., Wiesche, M. and Krcmar, H., 2017, June. Governing platforms in
the internet of things. In International Conference of Software Business (pp. 32-46). Springer,
Cham.
Online articles
jyx.jyu.fi (2020), Competitors will seek to standardize their offering, Available at:
https://jyx.jyu.fi/bitstream/handle/123456789/51115/3/Adjusting-software-Ojala-pre-
print.pdf [Accessed on: 01/01/2020]
Websites
diva-portal.org (2020), Competitors will seek to standardize their offering, Available at:
http://www.diva-portal.org/smash/get/diva2:543563/fulltext01 [Accessed on: 01/01/2020]

8
Appendices

Appendix 1: Global Business Strategies

(Source: https://courses.lumenlearning.com/wm-
principlesofmanagement/chapter/responding-to-cultural-differences/)