True or False: Standardization in global marketing refers to the practice of using the same marketing strategy and product design across all markets.

• TRUE

• FALSE

True or False: Product adaptation involves modifying product features, packaging, or promotion to fit the needs of a particular country or region.

• TRUE

• FALSE

True or False: A standardized approach is often less costly for companies as it reduces production and marketing expenses.

• TRUE

• FALSE

True or False: Standardization allows companies to respond more effectively to cultural differences in individual markets.

• TRUE

• FALSE

True or False: Product adaptation increases the likelihood of a product’s success in foreign markets by meeting local needs and preferences.

• TRUE

• FALSE

True or False: The decision to standardize or adapt a product is solely based on the company's production capabilities.

• TRUE

• FALSE

True or False: Standardization is more common for products with universal appeal, such as technology gadgets and luxury goods.

• TRUE

• FALSE

True or False: Product adaptation can lead to brand inconsistency across different regions.

• TRUE

• FALSE

True or False: Companies that choose standardization are more likely to focus on global branding and economies of scale.

• TRUE

• FALSE

True or False: Product adaptation requires less market research than standardization since the product is already defined.

• TRUE

• FALSE