Globally Evolving Marketing Strategies – ‘Think Globally, Act Locally’ is a popular strategy that is becoming more and more relevant in a globalized world where there are no boundaries when it comes to movement of goods and global marketing services. Now it has become evident that companies cannot insulate itself from Global marketing competition by remaining in the domestic market or specific markets.
When it comes to consumer tastes, preferences and interests, there is nothing universal about it. They differ from country to country, climatic zones, GDP levels (Gross Domestic Product), customs and traditions. The food industry has successfully used ‘local flavoring’ strategy with good success. In much of Asia Domino’s Pizza uses sea food for its toppings while in India they use curry. Dunkin Donuts have used flavors according to local preferences- in Russia it’s marketed as Dunclairs, in Korea as Grapefruit Coolata and Mango Chocolate Donut in Lebanon while in China they serve dry pork and seaweed donuts. MacDonald’s varies its menu according to local tastes- the Green Chilli Cheeseburger (Mexico), bulgogi burgers (South Korea), McArabia (for Arab nations).
Until a few years ago, it was not easy to have multi-locational operations to deliver a product. With advances in technology, better logistics and economies of scale, it is possible for the parent company to design a product in their headquarters or in an emerging market, get them fabricated in a different country, do the manufacturing there and export it other countries. Many global brands such as HP, Toshiba, Acer follow the strategy of manufacturing in China, Taiwan, Thailand or some other nation where it is cheaper to manufacture. And it is shipped to the consuming country and still enables good margins on sale of products.
On a global scale none is more power than social media to reach a wide audience. For campaigns with picture, video and lesser text, Face Book would be the appropriate medium while for sharing industry global marketing news, especially those involving B2B product.
Graphic Era (Deemed to be University), Department of Management Studies, Dehradun is organizing Series of Workshops, FDP and International symposium on above stated theme. This plethora of information can change your way of thinking. The duration of the workshop is 3 days, International Symposium 1 day, & FDP 1 day will be conducted at Department of Management Studies, Graphic Era (Deemed to be University), Dehradun from 6-19th Nov 2019.