“Think globally, act locally” is a standard method that is becoming more and more important in today’s globalized society. It is used when transporting goods and marketing services around the world. Businesses can no longer avoid competition from other companies worldwide by only selling in their own country or a few select markets.
Marketing Plans for the Whole World
To understand other countries’ different markets, cultures, local traditions, and manners and etiquette, you need to spend money, time, and people. Here are some things businesses might want to think about:
Don’t try to fit everyone into the same mold; instead, give a touch of local flavor.
There is no one thing that all customers want or are interested in. It depends on the weather, the country’s Gross Domestic Product (GDP), and the people’s customs and traditions. The food business has done well by using local flavors.
A Japanese car company, Suzuki, makes many different versions of its SX-4 model. In Europe, it’s a hatchback; in the US, it’s an SUV, and in India and other parts of the world, it’s a sedan or an S-Crossover. Changes were made to the engine power, fuel options, and design standards based on what people wanted. Since its release in 2006, it has been the most talked-about car.
Know the differences between cultures.
It would help if you did some research on international marketing to find out what the word or words mean in the country where you want to launch your brand. Cue failed as the name of a popular pornographic magazine in France, and Vicks cough drops failed in Germany because the letter “V” is pronounced like the letter “F,” which is slang in Germany for sexual activity. Some Nike products are being taken back because they look like Allah, the Arabic word for God. Using the wrong brand name in a particular cultural or linguistic setting can severely hurt a company’s reputation and marketing efforts. International email marketing is also a blooming scope for the marketers.
Team up with a business in your area that knows the market well.
Many countries don’t see results from spending a lot of money on marketing and distribution or running extensive media campaigns. The best way to ensure success is to work with a local partner in the same business or with a global marketing partner. It is essential to know the local market inside and out. This will make it much faster for the international company to take over the market. The Swedish company Forbes was the first to sell a vacuum cleaner in India. In the 1980s (Eureka Forbes through a joint venture in India). Through partnerships with Indian companies, Starbucks (Tatas), Sharp (Kalyani), and several other international brands have set up shop in India.
Logistics, making things and selling them
It was hard to deliver a product from multiple locations a few years ago. Thanks to improvements in technology, logistics, and economies of scale, the parent company can now design a product at its headquarters or in an emerging market, have it made in another country, make it there, and then ship it to other countries. There are a lot of global brands that make their products in places like China, Taiwan, or Thailand, where it is cheaper to make things. While still letting companies make a good profit on goods sent out of the country.