Question

Consider this statement: Cultures around the world are becoming increasingly similar, so companies should standardize both their products and global marketing efforts. 1. Do you agree or disagree with this line of reasoning? Explain. 2. Are there certain industries for which the statement might be more or less true?

Answer 1

1. Do you agree or disagree with this line of reasoning?

Ans. - I agree with this line of reasoning. As per my observation, the cultures around the world means people lifestyle, their basic needs, aim, passion, work style are becoming almost similar. Many countries people follow other countries culture.  

So many companies should standardize their products to make it acceptable to any customers of any countries. It will also help for companies to do global marketing. As they can show their product sales report in one place to other countries people. This is just because the culture is becoming same and it increases the revenue generation for companies in other countries. Nowadays many customers are interested to use other countries company product and they use it. So if the companies will standardize their products then that will be beneficial for customers and the companies too.

2. Are there certain industries for which the statement might be more or less true?

Ans - Yes, there are some industries for which the statement might be true.

That industries are - 1> Airbnb, 2> Redbull, 3> Domino's, 4> Nike, 5> Mcdonald's etc.