Proponents of standardization take the viewpoint that consumers around the globe are growing more alike in their wants and needs. Also, product life cycles, from launch to discontinuance, are increasingly short. For products produced under this lightning time-to-market pace and short life cycle, standardization offers a fast, ideally universally effective marketing channel in multiple countries around the world.
This is often the approach taken with personal electronics, such as Apple Computers. As with all computer companies, Apple must stay on the cutting edge of processor speed, operating system functionality, and many other aspects of the relentless pace of technology. Their modern, usability-oriented design ethic- the "urban chic" that has become the hallmark of the Apple brand- also demands constant revisions of their computers' physical design.

Apple iMac circa 2001

Apple iMac circa 2003

Apple iMac circa 2004
The relentless product life cycle may not allow sufficient time to tailor campaigns for the nuances in taste of each nation in which the product is sold.
Mac ad running in the USA
the same ad for the German market
Ultimately, the text cites high-status products that can be marketed with an image campaign (the example used is Levi Strauss Jeans), high-tech products (such as the aforementioned Apple computers), and products that capitalize on favorable nationalism (BMWs epitomize German engineering... Stolichnaya Vodka comes from Russia, the quintessential vodka nation).
I would add that the airline industry offers potential for standardization. In fact, it practically demands it. Airlines that are trusted to transport business and leisure passengers all over the world must transmit the values of safety, efficiency, economy and (usually)comfort to passengers in numerous countries who all want the same thing. It is one of the more homogenous markets in which to operate.
Also discussed is when specialization of advertising is the smarter strategy. An example provided by the text is L'Oreal skin care products. The company attempted to use a standardized approach to sell its cosmetics to people of wildly varying skin tones throughout the world. Once localized control was adopted, flat sales climbed into profitability.
Specialization might be a better option when selling in countries with different media regulations or delivery systems, where people have different physical characteristics, if the same product is sold under multiple brand names in different countries, or if the target markets are in different stages of development.
When it comes to execution, the text talks about advertising appeals- which "must be consistent with the values and tastes of the target audience. Some cultures are more resistant to foreign-produced advertisements (remember those goofy Mentos commercials?). The people in some nations, like Japan, find much more appeal in indirect messages- the "soft sell." Some cultures feel that approaches which work very well in the USA, like comparison selling, are disparaging to the competition and insulting to the intelligence of the viewer, who can educate her or himself as to what is best. Sex appeal sells well in Western Europe, Canada, and the USA, but fares poorly in Middle Eastern countries.
Some features seem to cross cultures in terms of advertising appeal. the phrases "New" and "Improved" are universal, as are other terms that increase the wow factor of an ad. Everyone wants something better or novel. Basic themes like hunger, motherhood, and affection are universal as well. (made in the USA).
Also considered in the text to be universal are advertisements based on the country of origin of a product. Whether it's an appeal to patriotism, an appeal to the stereotpical superiority of products in a particular category from a particular nation (German cars, Swiss watches, etc) or an appeal to an ideal that is widely heald about a nation (Australian friendliness in Outback Steak House ads, The tropical beaches in Corona Beer commercials).
Ads that demonstrate the product, utliize sports or cultural heroes, and the lifestyle benefits of consuming that product are also universal in cultural appeal.
The converse of universal appeal is culture-bound appeal. How a particular culture views sex, the role of women, religion, and other factors influences what advertising strategy will be effective within that culture. A frequent criticism of large western advertising agencies is that, in blitzing out standardized advertising messages, they actually start to change how individuals behave within their own cultures, effectively homogenizing the world.
Finally, we must discuss the methods of advertising communication used a part of the particular strategy. In countries with high literacy, avertising copy may be more effective than countries where illiteracy is common. In those nations, strong graphic images and visual metaphors could reach a greater number of people.
Regarding copy, it goes without saying that translation is crucial. Literal translation from language to language does not work. Native speakers are necessary to transmit the sentiment and the message, using the verbiage most apropriate for the new language. Also, since language is fluid and malleable, any 'hip slang' must be carefully monitored for obsolescence.
There is a great deal of room for creativity within this framework. The text has charts and tables listing industry awards and their winners. Personally, this is the least savory part of the industry to me, as the entire ad game seems to be a bunch of guys in black turtlenecks patting each other (and themselves) on the back. I think, with all the Clios and Cannes Awards, advertising agencies sometimes forget they are marketing to consumers and not themselves or each other.