Assertion (A): International product standardization is least costly in terms of both manufacturing and marketing costs for the company. So companies should bring uniformity in their marketing mix elements.
Reason (R): No change in the product itself is required for marketing overseas but many items may require some adaptation for making them suitable to the foreign markets.
Which of the following option is correct?
Both the statements (A) and (R) are correct and (R) is the correct explanation of (A)
Both (A) and (R) are correct but (R) is not the correct explanation of statement (A)
Statement (A) is correct and statement (R) are incorrect
Both statement (A) and (R) are incorrect