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Think Globally, Act Locally

This document discusses strategies for implementing global marketing while balancing local and global concerns. It emphasizes that companies should "think globally, act locally" by considering both individual markets and opportunities to transfer products between regions. Success requires balancing local and regional/global priorities to avoid pitfalls like insufficient local research or overstandardization. Management orientations range from ethnocentric to seeing the world regionally or globally. Achieving this balance requires coordinating headquarters and local managers, allowing local control while maintaining global brands.

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2K views18 pages

Think Globally, Act Locally

This document discusses strategies for implementing global marketing while balancing local and global concerns. It emphasizes that companies should "think globally, act locally" by considering both individual markets and opportunities to transfer products between regions. Success requires balancing local and regional/global priorities to avoid pitfalls like insufficient local research or overstandardization. Management orientations range from ethnocentric to seeing the world regionally or globally. Achieving this balance requires coordinating headquarters and local managers, allowing local control while maintaining global brands.

Uploaded by

sabbir.ale
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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“Think Globally, Act

Locally”

Presented by:
Sabbir Ali Bhutta
MSRMI
7410
+91-9742012618
Implementing Global Marketing….

 “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
 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)

Polycentric:
Ethnocentric: Each host country Is
Home country is Unique, sees differences
Superior, sees In foreign countries
Similarities in foreign
Countries

Regiocentric:
Sees similarities and Geocentric:
differences in a world World view, sees
Region; is ethnocentric or Similarities and
polycentric in its view of Differences in home
the rest of the world 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 structures
 The shift to global account management
 Corporate 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)
 Developing standardized products marketed
worldwide with a standardized marketing mix
 Essence of mass marketing
 Global localization (Adaptation)
 Mixing standardization and customization in a
way that minimizes costs while maximizing
satisfaction
 Essence of segmentation
 Think globally, act locally
Examples….
THANK YOU……

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