Business Degree Certification Practice Test

What type of marketing strategy uses minimal modifications for foreign markets?

1. Lateral entry

2. Unipolar

3. Global

4. Multidomestic

The correct answer is: Global

A global marketing strategy is designed to keep marketing efforts consistent across various countries and cultures, aiming for economies of scale. This approach entails minimal modifications to the marketing mix (product, price, place, promotion) for different foreign markets. By standardizing the marketing strategy, businesses can maintain a uniform brand image and often reduce costs related to marketing and distribution. In contrast, a multidomestic strategy emphasizes customizing products and marketing tactics to fit local markets, which involves significant adjustments and adaptations. Therefore, it wouldn’t apply to the description of using minimal modifications. Lateral entry and unipolar strategies are not commonly recognized terms in marketing strategies and do not accurately capture the essence of a global marketing approach.