Topic > Analysis by Theodore Levitt The globalization of markets

For example, Henry Ford had developed automobiles accessible to the middle class using the assembly line. While he didn't invent the automobile or the assembly line, he created affordable cars for the American middle class by producing the exact same cars. By manufacturing the same product, he was able to lower the price of each unit and also lower the unit cost of the automobile product. Therefore, price is an essential factor that drives consumers' purchasing decision. Therefore, standardized product is an effective way to attract more consumers because the price is