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Globalization = Standardization + Localization: What does this equation really mean about optimizing a firm’s offerings...

Globalization = Standardization + Localization: What does this equation really mean about optimizing a firm’s offerings for maximum market penetration?

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Answer #1

Globalization includes global standardization as well as localisation. Therefore, in order to achieve maximum market penetration, firm should not only try to achieve global standardization, it should also adapt to local market needs. It must apply it's international experience and knowledge to meet the local needs.

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