when a firm uses a standardized marketing mix with minimal modifications in all of its domestic and foreign markets, it is known as a marketing strategy.

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10-11-2022
Business

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when a firm uses a standardized marketing mix with minimal modifications in all of its domestic and foreign markets, it is known as a marketing strategy.

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shomerajeshwari90 shomerajeshwari90 · Answer 1 · 2022-11-19T10:42:35+01:00

When a firm uses a standardized marketing mix with minimal modifications in all of its domestic and foreign markets, it is known as a global marketing strategy.

The purpose of this study is to offer a conceptual framework that marketing academics and company executives may utilize to create global marketing strategies that will aid them in effectively pursuing their worldwide operations in foreign markets. In order to do this, the paper makes use of the company's marketing resources, such as market sensing, partner connecting, and customer interaction, and analyzes how crucial each of these resources is for pursuing a worldwide strategy that will provide the company a competitive edge. The significance of control variables, such as international experience and international entrepreneurship, has been discovered after careful consideration of prior literature in the same field, and they are included as having a moderating impact between marketing capabilities and the formulation of global strategy.

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