The debate over the standardization and/or localization of marketing strategy has proceeded without a sound theoretical underpinning. Attempts to generate such an underpinning through the development of a conceptualization of the globalization of world markets. Further, and more importantly, presents a three‐step process to assist marketing managers in assessing the appropriateness of strategy implementation. Utilizes the electronics industry as an illustration of the appropriateness of the model. Provides a much‐needed conceptualization of the globalization process and an enumeration of the necessary economic conditions for marketing strategy determination.
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