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2) Marketing standardization
i) Advantages of marketing standardization
ii) Disadvantages of marketing standardization
3) Local adaptation
i) Advantages of local adaptation
ii) Disadvantages of local adaptation
Globalization has influenced the marketing environment of organizations in a great way. Global marketing for hospitality based industries is more based on decision making on the global entry strategies to make use of. The marketing options available to hospitality companies are mainly either adapting to the local market or being standardized globally. This decision is however made with the aim of choosing the option that not only provides a better global strategy, but also allows for profitability and maintenance of a competitive edge. Marketing standardization and local adaptation for the hospitality sector are opposing forces which mean that the market research for the best marketing mix has to be made. Global standardization is not easy for the company neither is adaptation since both require adequate information and resources. It is thus definite that each of these options has both advantages and disadvantages leaving the management to make the best decision based on the hospitality industry sector and nature of products dealt with.
Marketing standardization in marketing implies that the products or services offered are homogenous to fit the global market. This concept aims at establishment of the brand, cost reduction and offering of products or services to the vast audience (Samiea & Roth, 1992). In the hospitality sector, for example, a multinational organization having various hotels or restaurants in various other countries globally, offers the same food,... [continues]
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