C.W Park

Companies must first determine their objectives and fit them into the target market's environment to expand successfully into foreign markets. Following this, they can develop a marketing strategy that emphasizes their advantages. It is also crucial to consider how rivals present their businesses and goods. A product's value proposition will vary depending on the needs and wants of the market it is being sold to. For instance, Uber encourages cash transactions over card transactions in developing nations.

A product-based approach to marketing is among the most successful methods used globally. Customers worldwide are very familiar with the name of a well-known brand. When a brand enters a new market, its marketing plan typically modifies consumer preferences by enhancing its offerings, boosting its visibility, or reducing its price. IKEA, a Swedish company that has revolutionized the furniture market in many nations, has succeeded with this marketing strategy. Starbucks, another well-known brand, has penetrated more developed markets with new menus and store designs.

Similar to this, Airbnb successfully uses a product-based global marketing strategy. In 2008, this online marketplace launched in San Francisco and grew internationally. More than 100 cities worldwide currently have more than seven million listings. The success of Airbnb's social media presence can be attributed to it.

Well-known brands frequently combine localization and global standardization in their global marketing strategies. The best strategy for your business will depend on your products, target markets, and financial constraints. You can attract new clients and retain current ones by combining both methods.

While global standardization strategies are better suited for international product marketing, localization strategies are better suited to particular geographic markets. The secret is to create a plan that aligns with your objectives and goals, then implement the right approach. In addition, localization strategies necessitate distinctive local marketing strategies, which may involve using suitable technologies and applications.

Larger businesses that operate in several different countries also profit from standardization strategies. As companies can produce materials on a global scale, using a single global approach for various markets can result in financial savings.

Domino's is renowned for placing a strong emphasis on product quality, which draws a lot of new customers and increases customer retention. Long-term consumer traffic, reorder rates, and sales growth for the business are all on the rise, mainly due to its signature hand-tossed pizza recipe. Throughout its 60-year history, the brand has also innovated numerous times.

A pivot to a tech company was one of the tactics Domino's used to increase its share in the carry-out market. For example, the business teamed up with Toyota to become the first pizza delivery service to use autonomous trucks. In addition, the company is concentrating on new technologies to enhance the customer experience because innovation is a crucial component of Domino's DNA.

Nike's global marketing strategy is a practical illustration of how a well-known brand can use co-creation and customer feedback to advance to the next level of success. The business offers goods through several channels, including retailers and wholesalers worldwide. Through its website, it also conducts direct sales to customers. In addition, customers can share their opinions and experiences with the products on the Nike Digital Sports platform, which the business has unveiled.

Nike's global marketing strategy includes the creation of demand through the promotion of running and sports. Nike can motivate customers to participate in sports and lead healthy lifestyles because of its skill as a storyteller. The brand also supports women's empowerment and social inclusion through various sports. In addition, Nike is dedicated to promoting global sustainability. Its ultimate goal is to dominate the market and expand globally, and to do that, it must get closer to customers and develop products that are suited to their requirements.

Since its founding in 1898, Pepsi has grown to operate in more than 200 nations. Although the company bases its marketing strategy on consumer research and analysis, it also highly values its partnerships with distributors. Pepsi has a network of eateries, shops, and supermarkets, and it uses these connections to make sure that customers can find its products quickly. On the other hand, Coca-Cola is only available in a small market, so this is not the case.

Additionally, Pepsi has tapped into contentious political and social issues with its brand. For example, a celebrity was used in the company's "It's OK to Ask for a Coke" campaign to capture the public's attention. The business also used Black Lives Matter to capitalize on a widespread issue that was gaining ground with the general public.

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