Firms must decide if it is preferable to use a Standardization versus Localization$-$Adaptation approach. Considerations supporting a Localization$-$Adaptation approach are:

Customer segments in many countries still have differing preferences across marketing mix variables.

Some products are expensive to develop, produce and have learning curve issues.

It is the optimal strategy to have only one standard product and standard marketing mix.

Companies using a standardized approach can gain economies of scale in both production and marketing when customer segments have converging preferences.