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29: Global, International and Local Marketing

29: Global, International and Local Marketing

What are the differences between global, and international marketing. Isn’t it the same thing? Personally I think that the terms get thrown around rather loosely. There are differences. International marketing simply means seeking consumers beyond one’s own borders. It could just be in one other country, where the decisions are made on an individual country basis. So there are a local team of managers in each country? There are. The staff tend to come from the same country and have the same culture and are knowledgeable about the target markets inside that country. In international marketing, the company lets a subsidiary serve their local market, paying attention to local customs and lifestyles. The products and services are localized and are handled at a local level. Yes. Promotional techniques are tailored for the local market. Now, Global marketing is the idea of a global business relationship with the rest of the world. It offers the same products and services throughout multiple countries. Global marketing uses the whole world as one market and distributes a product using the same promotional tactics across the world like Coca Cola or Nike. The same in every country? They don’t adapt products and services to domestic requirements? In global marketing the marketing staff work at the company’s headquarters in a generally diverse group of people that don’t necessarily come from the same country or culture. The budget in global marketing is managed directly from the corporate headquarters in the home country. Promotion uses ads that are in sync with a global audience. What about just staying home? Domestic marketing means not marketing abroad. There are different categories for this though. Local marketing is when customers buy products in the region where they are produced. Usually to a target of only 10 to 20 miles away. Any marketing focuses on the local area, where the audience is more relevant. It could be less expensive, and there is a good opportunity to create viral word of mouth marketing. There’s also room for partnerships with other local businesses, government individuals or even community goodwill. What is it when you expand past that? Regional marketing focuses on a selected part of a country. With a large country like the US, regional marketing can still be quite expanse. National marketing focuses on the entire country, and has risks similarly related to marketing on a global scale. Most multinational companies execute marketing campaigns that combine all three types. If a company is already participating in a global marketing, then a regional and national campaign is much easier. Wow! There are so many variables! That’s why the marketing executives are paid the big bucks. I like money.

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