Marketing strategies in global markets: A transaction cost analysis.

Contrasting viewpoints have emerged regarding the selection of marketing strategies in global markets. One group of scholars recommends standardized global marketing strategies based on the premise that technological advances in telecommunication, transportation, and media are leading to similarities in customer preferences across the world. Other researchers recommend multi-domestic strategies on the premise that consumer heterogeneity continues to increase even within countries. Firms marketing products in global markets appear to adopt global marketing strategies, multi-domestic strategies, and various intermediate strategies that encompass different degrees of standardization.