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Abstract

Globalization has become a buzzword. But also an undeniable phenomenon, describing, in a narrow sense, the economic integration of national economies into a world economy mainly through trade, foreign direct investments (FDI), capital and technology flows (Bhagwati, 2004, p. 3). Controversy prevails over the consequences of this phenomenon: while some foresee the rise of a universal civilization, including universal values and consumption patterns, others consider local cultures to be relatively resistant to the assumed erosive effects of globalization (Mooij, 2009, pp. 6-7). Moving the debate at the level of corporations, as agents of globalization, one question has dominated the minds of international marketing scholars for the last forty years: should companies ride the globalization wave by relying on the first premise, that of a convergence of consumer behavior around the world, or by catering to the diversity of local tastes, beliefs, preferences etc. The first implies a standardized marketing strategy, with global products and a global marketing-mix, the second involves adapting both products and the marketing-mix to the local reality.

Keywords

European Union Foreign Direct Investment Contingency Factor International Marketing European Union Membership 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Gabler Verlag | Springer Fachmedien Wiesbaden GmbH 2011

Authors and Affiliations

  • Roxana Codita

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