Photo AI
(a) Explain the benefits of customisation as a global marketing strategy - HSC - SSCE Business Studies - Question 24 - 2021 - Paper 1
Question 24
(a) Explain the benefits of customisation as a global marketing strategy. A customised global marketing strategy requires a marketing manager to alter their market... show full transcript
Worked Solution & Example Answer:(a) Explain the benefits of customisation as a global marketing strategy - HSC - SSCE Business Studies - Question 24 - 2021 - Paper 1
Step 1
Explain the benefits of customisation as a global marketing strategy.
Answer
Customisation as a global marketing strategy offers several significant benefits:
-
Enhanced Customer Satisfaction: By tailoring products and marketing messages to fit local preferences, companies can improve customer satisfaction and loyalty. This customization aligns with consumer expectations and cultural nuances.
-
Competitive Advantage: Customisation allows businesses to differentiate themselves from competitors who may offer more generic products. This advantage can be particularly valuable in saturated markets where standing out is crucial.
-
Increased Market Penetration: Businesses can penetrate new markets more effectively by adapting their offerings to meet the specific demands of local consumers, thus increasing their reach and market share.