Question

When a firm focuses on cost reductions through a variety of efforts including economies of scale, with little customization of products, the firm uses which kind of strategy?

Answer 1

Global standardization

Step-by-step explanation:

Global standardization is when a company(multinational) create a marketing strategy that is results driven in order to sell its products internationally. This type of strategy is used by these companies to promote/advertise, sell their products with a view to making profit.

Global standardization enables a firm to use same marketing strategy from one country to another while considering the culture of the host country. This means that global standardization is a useful tool especially for product like Coca Cola which have same appeal worldwide.