Companies spend a lot of time and money in conducting market research around the globe. Not only are they trying to appeal to consumers from foreign nations, they are also trying to conduct business in regions with rules and regulations that might not be similar to the home country.
Knowing the tastes and preferences of individuals around the world is an important way to penetrate the market successfully. Different cultures have different values which lead to differences in likes and dislikes. Taking these differences into account, what happens when you start to notice a growing convergence in these likes and dislikes?
Globalization has increased standardization as more companies create a product that will appeal to all. Cost savings and profits seem to be the main objectives of big corporations and localization is more of an inconvenience. Some companies have been able to achieve a global level of attractive by hitting each market the right way.
A company’s product of service might be the same, but companies have snuck their way into foreign markets by personalizing the way they reach their customer and use advertising as a ploy to sell the same standardized product.
3 Most Popular Products Across the Globe
What you might not realize is that someone across the globe might be celebrating with the same drink in their hands. While they might be sipping their drink for dinner, you might be enjoying your drink for breakfast. Here are 5 products the whole world has enjoyed or still can’t get enough off.
1. Coca Cola
No one can deny the power of a refreshing can of coke. This beverage is enjoyed by 2 out of 10 people every single day. Coca Cola has the ultimate strategy to appeal to markets – foreign or not. Whether your young or old, a cold glass of coke fits right in at any occasion.
With their marketing strategy revolving around happiness, coke has managed to break through to every market in numerous countries.
Despite the tough competition with tablets out there, Apple’s iPad is no doubt one of the most popular. About 211 million iPads have been sold since its launch in 2010. In 2013 the iPad took over the tablet market with 40% market share and are since enjoyed by children and grown ups all around the world.
3. Rubik’s Cube
This colorful puzzle took the world by storm with its simple yet challenging concept. The Rubik’s Cube gained so much popularity that there are many competitions that revolve around this toy. With so many videos and blogs on how to solve the cube, the Rubik’s Cube is still a favorite product among many, even though it has been around since 1980.
An interesting concept to grasp, even though there are extreme differences in cultures and values, products such as the ones mentioned above are a way of bringing us all closer together. These products, in a very tiny way, help us put our differences aside and let us know that we can share a Coke and solve a Rubik’s Cube with each other.