Global Marketing Strategy
The world that we know today is becoming more and more connected due to the effect of
globalization, but consumers still attempt to link their personality to the brands they buy by association (Curran & Healy, 2014). Today’s markets as we know are highly volatile and opinionated.
McDonalds uses an
internationalization strategy wherein they have different marketing campaigns, and different menus across different regions all over the world. As a result, McDonalds' is perceived as a luxury dining place in India and China whereas it's just convenient fast food in the West. This is among the most successful strategies for venturing into different markets, but it is also known to be the most expensive.
There is a less expensive way in which brands can create a personality with which people from all over the world can associate themselves. This is called a
global marketing strategy although it’s not enough that one just uses this strategy in order to become successful (Douglous, 1995).
The most successful brands which have had luck with global marketing have
similar characteristics:
- Bacardi: A white rum which showcases Cuban heritage. Highly successful.
Although it should be taken into account that Bacardi actually uses a different marketing strategy at home which does not showcase Latin heritage or culture. Consumers in other countries perceive Latin culture more attractive. This suggests that the Latin heritage is more lucrative to Non-Latin countries than their own home counties (Van Gelder, 2005 p. 42).<\li>
- Fosters: True Blue Australian Beer. Popular and successful in Asian countries.
Fosters Beer which is advertised as true blue Australian actually only sells fosters beer internationally. Fosters operates in Australia by selling another beer brand under its umbrella like Victoria Bitter. Consumers from all over the world associate with fosters as a truly Aussie experience when it is actually difficult to find in Australia itself. Isn’t this ironic?
- Alfa Romeo: Advertised as the car truly handcrafted in Italy. Highly successful in Western countries.
McDonalds, Pizza Hut, KFC try to become truly local players, but brands like Fosters and Bacardi stay foreign and still gain competitive advantage.
Sources:
Curran, J. M., & Healy, B. C. (2014). The Loyalty Continuum: Differentiating Between Stages of Loyalty Development. Journal of Marketing Theory and Practice, 22(4), 367-383.
Van Gelder, S. (2005). The New Imperatives for Global Branding: Strategy, Creativity and Leadership. The Journal of Brand Management, 12(5), 395-404.
Douglas, S. P. (1995). Global Marketing Strategy. McGraw-Hill College.
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