What are global marketing strategies
Marketing strategy, global
| [s.a. Global Marketing] A global marketing strategy that is based on a geocentric orientation of international business activity (EPRG concept) can be characterized by the following features (cf. Kreutzer, 1989, p. 28; Wrona, 1999, p. 123ff.):|
- The thinking and acting of a company takes place in global market dimensions, the goals of individual subsidiaries must always be checked with regard to their compatibility with the global goals.
- The subsidiaries no longer operate independently on a national level, but must be integrated into a global system of division of labor and specialization in order to exploit synergy and cost-cutting potentials (network models).
- In order to optimize the achievement of goals for all company units, an imputed country balance is sought. With this compensation, suboptimal solutions are accepted in individual branches, insofar as this serves to achieve the global corporate goals. - Marketing programs are standardized (standardization), with standard programs being developed in cooperation between the head office and the country branches. Process standardization, i.e. the unification of information, planning and control processes, can also lead to advantages in the context of a global marketing strategy.
The aim of global marketing strategies is to improve international competitiveness by integrating all company activities into a coherent overall system (cf. Meffert, 1989, column 1413). It is necessary to determine the optimal level of standardization for the individual functions, which deviates from one another in different industries. The ideal strategy adapts the level of strategy globalization to the globalization potential of the industry (see Yip, 1989, p. 34). The interaction between strategy and organization (marhefing organization) should not be neglected in globalization strategies. An effective introduction of global marketing strategies requires a high degree of coordination and the associated efficient coordination and control instruments.
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