Global Marketing Strategies

Every business usually starts off with just one store or location in the immediate area. But as a development is very important in every aspect, an expansion is needed. Companies have marketing departments that make them well known throughout their country and eventually in the world. Successful global marketing cannot be achieved overnight, and it is a long-lasting process. Therefore it is very important to understand the difference between international marketing and global marketing. Two opposite viewpoints for developing global marketing strategy are commonly expounded. According to one school of thought, marketing is an inherently local problem. Due to cultural and other differences among countries, marketing programs should be tailor-made for each country. The opposite from the localized strategy is standardized strategy, which view marketing as know-how that can be transferred from country to country. It has been argued that the worldwide marketplace has become so homogenized that multinational corporations can market standardized products and services all over the world with identical strategies, thus lowering their costs and earning higher margins.…