Abstract:

Looking into the future, it is tempting to believe that markets, increasingly, will become 'globalised' and it is even more tempting to believe that therefore there is hope for standardised products in international markets. These temptations, I would urge, must be resisted for two reasons: It is wrong to assume that all markets (I mean the markets for all kinds of products and services) will show a detectable tendency to globalise. Some products and services are already in global markets. It is wrong to assume that a tendency for a consumption pattern to become global means that you can invariably meet it with a standardised product offering. Ford motor cars are a very good example of this approach to product design and manufacture. So my conclusion is that global markets will gradually continue to emerge, but that that does not invariably mean that a standardised product offering is appropriate.