Think Globally, Act Locally

“Think Globally, Act Locally” Presented by: Sabbir Ali Bhutta MSRMI 7410 +91-9742012618

Implementing Global Marketing…. 

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“Think globally, act locally” is the operative phrase for global marketers competing in country markets. Product choices should consider individual markets as well as transfer products from one region to another. Success will come from a balance between local and regional / global concerns

Global Marketing Pitfalls to Avoid…  Insufficient

local market research  The tendency to overstandardize the product  Inflexibility in planning and implementation

Global Marketing Pitfalls to Avoid..  The 

“Not-Invented-Here” syndrome (NIH)

How to avoid the NIH syndrome 

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Ensure that local managers participate in the development of global brand marketing strategies Encourage local managers to develop ideas for regional or global use

Management Orientations (EPRG)

Ethnocentric: Home country is Superior, sees Similarities in foreign Countries

Regiocentric: Sees similarities and differences in a world Region; is ethnocentric or polycentric in its view of the rest of the world

Polycentric: Each host country Is Unique, sees differences In foreign countries

Geocentric: World view, sees Similarities and Differences in home And host countries

Management Orientations (EPRG) Ethnocentric orientation • Home country is superior to others • Sees only similarities in other countries • Assumes products and practices that succeed at home will be successful everywhere • Leads to a standardized or extension approach

Management Orientations… Polycentric orientation  • Each country is unique  • Each subsidiary develops its own  unique business and marketing  strategies  • Often referred to as multinational  • Leads to a localized or adaptation  approach that assumes products must  be adapted to local market conditions

Management Orientations… Regiocentric orientation • A region is the relevant geographic unit • Ex: The NAFTA or European Union market • Some companies serve markets throughout the world but on a regional basis • Ex: General Motors had four regions for decades

Management Orientations Geocentric orientation  • Entire world is a potential market  • Strives for integrated global strategies  • Also known as a global or transnational company  • Retains an association with the headquarters country  • Pursues serving world markets from a  single country or sources globally to  focus on select country markets  • Leads to a combination of extension and  adaptation elements

Localizing Global Marketing…  Achieving

a balance between in-country managers and global product managers at corporate headquarters will require action to develop and implement a global strategy.  Management processes  

Enhance the global transfer of communications Interchange personnel to gain experience abroad

Localizing Global Marketing….  Headquarters

should coordinate and leverage

resources  Permit local managers to develop their own programs within defined parameters

Localizing Global Marketing  Maintain

a product portfolio that includes local as well as regional or global brands  Allow local managers control over marketing budgets to respond to local customer needs and counter global competition

Localizing Global Marketing  Organization 

The shift to global account management

 Corporate   

structures

culture

The world is not one single market Plan and execute programs on a worldwide basis A global Identity favors no specific country.

Standardization versus Adaptation 

Globalization (Standardization) 

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Developing standardized products marketed worldwide with a standardized marketing mix Essence of mass marketing

Global localization (Adaptation) 

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Mixing standardization and customization in a way that minimizes costs while maximizing satisfaction Essence of segmentation Think globally, act locally

Examples….

THANK YOU……