In recent years, considerable attention has been focused on the debate over global versus localized marketing strategies for firms competing in international markets. In this assignment, we are going to analyze the debate over global versus localized marketing from a cross-cultural consumer behavior perspective. We also discuss the type of products or services for which a global marketing and advertising strategy whether is it appropriate or not. We will analyze the logic of the global marketing strategies from a consumer behavior perspective of two companies, Samsung and Coca-cola, which using global marketing strategies for one or more of their products or services. We will also discuss the consumer behavior factors that necessitate the use of a localized strategy by McDonald.
Global Versus Localized Marketing Strategies
A truly global marketing strategy would aim to standardize some elements of the marketing mix across the world, while customizing others. The correct approach would be to identify the various value chain activities within the marketing function and decide which of these can be performed on a global basis and which can be localized. Typically, marketing includes the following activities:-
Some of these activities are amenable to a uniform global approach. Others involve a great degree of customization. Within a given activity, parts can be globalized and others performed locally. Product design & development is an activity where the potential to globalize needs to be examined carefully. A globally standardized product can be made efficiently at a low cost but may end up pleasing few customers. On the other hand, customized products targeted at different markets across the world may be too expensive. The trick, as in the case of other value chain activities is to identify those elements of the product which can be standardized across markets and those which need to be customized.