Globalization

Theodore Levitt, had created a strong influence on globalisation, and since then this term has been on every individual's lips. When his article, "The Globalisation of Markets" was published in 1983, many companies such as Coca-Cola, McDonald's and Walt Disney had followed his view of having a standardised consumer product. Supposedly, a standardised approach would foster mass production hence achieving economies of scale. With a standardised marketing plan, sales would escalate as a product image is created across the globe.
However, Levitt's assumptions are invalid because not everyone shares the same taste, culture, customs and traditions. Furthermore, he assumes that customer needs and interests have become homogeneous worldwide, but he had failed to recognise that adaptation of the marketing mix is vital so as to satisfy the needs of the consumers in each region. People around the world still want to preserve their own heritage and culture by purchasing local products.
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