Asked by Nayda Espinoza on May 04, 2024
Verified
From a customer service perspective, one of the four important characteristics for global markets and strategy is that companies need to attempt to standardize to reduce complexity, but they have to recognize that global markets need some customization.
Standardize
To make something conform to a uniform style, size, or method, ensuring consistency and compatibility.
Global Markets
Refers to the international trading environment where goods, services, and capital flow across countries, influenced by globalization.
Customization
The process of modifying products or services to meet individual customer preferences or requirements, often leading to greater customer satisfaction.
- Understand the balance between standardization and customization in global markets.
Verified Answer
Learning Objectives
- Understand the balance between standardization and customization in global markets.
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