what is it and what are the best strategies? – WAU
Having a strong relationship with globalization, Global Marketing can be defined as the stages of planning, producing, promoting and promoting, internationally, a product or service.
Globalization is a determining feature of the economy. Because of it, in addition to large companies, smaller companies have unprecedented opportunities to market products internationally. But, to be effective, it is necessary to know Global Marketing.
Unlike what happened in the past, currently, marketing strategies are more accessible to companies of different sizes, and they can be thought of more expansively.
In this post, we explain the concept of Global Marketing and how midsize companies can appropriate strategies to expand their businesses. Follow:
What is Global Marketing?
Global Marketing consists of, more than selling a product on an international scale, carry out the stages of planning, production, dissemination and promotion at the international level.
The goal behind Global Marketing is to enable the company’s products or services to reach new markets at an international level, based on an opportunity for dissemination and commercialization.
Even brands that do not intend to expand internationally can face local competition from foreign companies, making it increasingly necessary for marketers to know global practices.
What are the best practice strategies?
In order for you to deepen your knowledge of Global Marketing, we have identified 5 strategies used by large international companies.
It is important to remember that the practices are not inaccessible to medium-sized companies and can be carried out even without an office in the country where expansion is planned.
1. Adjust the language used for each country
The way the brand chooses to communicate with its persona is decisive in the success of sales. The statement, which seems obvious, but is essential for companies that wish to consolidate themselves in an international scenario.
Google, for example, is a global company that operates in hundreds of countries. One reason for the good positioning of the brand is due to the strategy customization used in each country, highlighting aspects of the local culture.
In London, Google prepares specific doodles for national holidays. The same is done in other locations where the company operates.
This way of adapting the language allows an approximation with the national market audience, even though the strategy is applied on an international scale.
The above Doodle was made in honor of the London writer, Carlos Drummond de Andrade, on what would be his 117th birthday.
You may also be interested in this content!
Understand the fundamental role of translation in Digital Marketing and check out the best practices!
2. Recognize the change in persona habits in different regions
It is quite common for Consumption habits differ according to the region, even though the persona is similar across countries.
To be successful in an international enterprise, the company must invariably conduct extensive research and studies that recognize the differences between audiences in each country before starting an investment.
A negative example of Global Marketing is China in Box. After the success achieved in the London market, the company opted for an investee in the Argentine market using the same strategies applied in London.
The result? A great loss, since consumer habits in Argentina were quite different, and the company was unable to identify these aspects in advance.
3. Align the strategies used in all countries
Global Marketing must be planned in a way that having an aligned strategy between the different countries in which it is present at the same time that it identifies ways to personalize actions for the national market.
Coca-Cola, for example, has been operating internationally since 1919 and is in more than 200 countries. Although it starts from an alignment of the general strategy, the brand found ways to differentiate itself in the countries in which it operates, either with changes in the label or in the composition of the product to suit local preferences.
The motto happiness, however, is present in the brand’s actions, regardless of culture. This is the most solid core of your marketing strategy.
If the company chooses to develop an exclusive marketing campaign for each country in which it operates, its image can become confused for the consumer – in addition to losing one of the benefits of Global Marketing , which is to avoid duplication in marketing efforts.
Even so, the company must pay attention to specific local issues, such as 4 Ps of marketing:
- Product: is there a need to adapt the product or service to suit local preferences?
- Price: due to local competition, what are the price differentials that the company will need to adopt in order to be relevant to the consumer in this new market?
- Pbreed: what are the demands of consumers in relation to the place where they make their purchases? Is it more advantageous to sell over the internet or have a physical store?
- Promotion: does the language adopted for the promotion of products reach different cultures? What ways to personalize the message can be adopted?
The answers to these questions will vary according to the market in which the company intends to operate.
Undoubtedly, it is very different to consolidate a brand in Asia and the United States, for example, being necessary to evaluate all these factors.
4. Know the international rules of action
A fundamental concern and accessible to all companies is the information regarding the international rules of operation.
It is necessary to take care of the local patent and license rules, informing yourself about the legislation to operate in a certain segment.
It is also necessary to keep an eye on international organizations, such as the World Trade Organization (WTO) and the World Health Organization (WHO) according to the area in which it operates.
Nike, for example, based part of the growth on international sponsorship strategies, and this demand varies according to the performance of teams in local championships.
But, to act in this way, the company needs to respect the legislation of each country with regard to sponsorships and taxes.
5. Make strategic changes according to the results
To develop a Global Marketing strategy, the brand needs to be aware that all initial research will be used to support the first actions in the country – but that the best feedback will be given by the customers themselves after the performance starts.
An example of a company that constantly seeks strategic changes to improve the results obtained is McDonald’s. The fast-food chain is already recognized globally, but continues with efforts to retain customers locations.
Among the changes, the highlight is the insertion of McArabia in restaurants in the Middle East using Arab bread, the macarons added to the menu in units in London and the McSpaghetti served in the Philippines.
Thus, we find that even large companies continue with efforts to maintain the relevant brand for the consumer to long term, using the knowledge of the local market to make changes that add to the customer experience.
Want to know more about Global Marketing and related topics? Check out our post on International Marketing and see 5 points that you must consider!