Globalisation vs. glocalisation 3.3.5 HARRIET BENNETT
- Created by: Harriet
- Created on: 10-04-15 15:15
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- global strategy vs. global localisation 3.3.5
- global marketing strategy
- But
- some sales will be lost if not all segments are catered for
- Turnover & profits mat not then be maximised
- Marketing tactics & or products may cause negative reactions from some segments of the market
- global marketing strategy means that the same products & strategies are used in all markets
- producing large scale is cheaper, designs can be standardised& there may be economies of scale
- the product range can be smaller
- the same marketing campaign can be used everywhere
- less time has to be spent on researching individual markets
- less time is spent on developing individual products for individual markets
- for most businesses the global marketing strategy will not be effective & some degree of adaptation to local conditions & preferences will be needed
- But
- global localisation
- But
- the business cannot fully exploit economies of scale
- researching each market & adapting or developing products takes time & is costly
- wider product range & multiple marketing campaigns are harder to manage
- Average costs are therefore likely to be higher
- market segments will differ in nature, cultural norms, fashions & individual tastes. the marketing plan must take into account customers' expectations & aspiration
- promotion strategies must fit with local media availability. potential customers have to be identified & then promotion is focus on the media they have access to
- Glocalisation means that even when the business operate globally, the products & marketing are adapt to local needs & tastes
- sales are likely to increase as each market is specifically targeted. products tailored to local needs & income. promotion reflects local media
- turnover & profits & maximised
- marketing tactics and/or products are ideally suited to the local situation
- But
- global marketing strategy
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