Looks at the issue of standardization versus adaptation faced by multinational companies in the process of product development.
Written in 2009; 2,825 words; 12 sources; APA; $ 84.95
Paper Summary:
This paper defines the process of standardization as manufacturing one common product across different international markets regardless of any dissimilarities in cultural and social contexts; whereas, the process of adaptation involves modifying the existing product in order to address these variations. Global market segmentation, the author underscores, which is an important process in terms of creating a sustainable competitive advantage, is dependent on correct market information. The paper uses Apple's iPod, which enjoys universal appeal regardless of the target market, as an example that demonstrates the critical success factor of conducting the new product development process so that the actual product features will appeal to different geographic customer segments.
From the Paper:
"The feasibility of standardization in the current business environment is illustrated by the iPod. Apple has marketed exactly the same product regardless of the international market. This has been facilitated through targeting the teen segment which exhibits similar purchasing patterns regardless of cultural and social contexts. This trend has been strengthened through the advent of the Internet which has facilitated the sharing of information thus weakening the effect of cultural differences."
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