Marketing Mix
Although one of the main features of global marketing is the cost efficiency through standardization of the elements of the marketing mix (product, price, place, promotion) as much as possible; often this becomes an impossible task for marketing managers. Having that said, “the extent to which areas of the marketing mix need to be adapted for the foreign markets is an important consideration in the determination of global marketing strategy” (Werner, Sepehri, & Murphy, 2011).