Question

Lilly’s Beauty Company sells haircare products such as shampoo, conditioner, and hairspray. The company does not sell new or customized products in order to meet the specific needs of certain groups of people. Which of the following approaches is illustrated in this scenario? a. Medium market segmentation strategy b. Focus strategy c. Standardization strategy d. High market segmentation strategy e. Focus market segmentation strategy

Answer 1

Answer:

c.

Explanation:

Based on the information provided it can be said that in this scenario it seems that the approach being illustrated in this scenario is a standardized strategy. This type of strategy in which the company in question treats the entire world as one big market that hold little to no variation, and therefore market their product exactly the same in every location. Which is exactly what Lilly's Beuty company is doing by selling the same products all around the world.

Answer 2

Answer:

C

Explanation:

Standardization strategy

A standardization strategy is used when a company behaves as if the everyone just uses one product with little meaningful variation. The believe is that one product can meet the needs of people everywhere. Many business-to-business companies can use a standardization strategy. Machines tools and equipment or information technologies are universal and need little customization for local conditions. A standardization strategy produces efficiencies by centralizing many common activities, such as product design, gaining scale economies in manufacturing, simplifying the supply chain, and reducing marketing costs.

In the case of Liliy's Beauty Company their products are the same every where no special or customized products for any specific need.