3-2 Short Paper Global Marketing, Localized or Standardized Strategy Selection

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Southern New Hampshire University *

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Feb 20, 2024

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Southern New Hampshire University MKT-620: Consumer Behavior & Marketing Professor Natalie Rudzinskyj 3-2 Short Paper: Global Marketing, Localized or Standardized Strategy Selection Elizabeth A. Hauck I. Overview: There are significant hurdles for a United States’ based product to expand and market into international areas. It requires tumultuous amounts of research, time, and data collection to prepare an effective marketing strategy. Marketing strategies must be modified to ensure that the product is successful in new markets. This is due to the presence of cultural differences, language barriers, and local market preferences. To effectively penetrate into new international markets, it is critical to adopt tailored approaches that address these unique challenges. One key aspect of this adaptation involves adjusting messaging, branding, and distribution channels to effectively align to the needs and preferences of that specific target market. This requires a thorough understanding of the market(s) and conducting research to develop a comprehensive and impactful marketing strategy. By investing time and effort into these areas, businesses can position themselves for success and maximize their potential growth in the global marketplace. Luckily, in today’s world, there are many effective advertising strategies to consider to successfully enter into international markets.

Utilizing social media, digital marketing, while partnering with local influencers and running targeted online ads can help reach specific regions and audiences. II. Product / Brand: Ensuring the business has a strong brand image is critical in establishing a positive reputation as well as creating a lasting impression on consumers. A well-defined brand will allow a company to showcase their unique identity and values, which will help them be set apart from their competition. This differentiation plays a significant role in attracting and building a loyal customer base. A business with a strong brand image can automatically instill trust and credibility in the minds of consumers. The product (or service) is perceived as reliable and high quality, prior to entering into the market. This pre- determined perception is a competitive advantage, as customers are more likely to choose a brand that they know is trustworthy over a brand with a weaker image. According to this week’s reading of, “The Role of Individualism VS. Collectivism in the Formation of Repurchase Intent: A Cross-Industry Comparison of the Effects of Cultural and Personal Values,” the impact of relational switching costs and customer satisfaction is more pronounced in services, while the influence of public brand image is stronger for products. This moderation effect highlights the importance of these

factors in the differentiation between service and product offering. When expanding into internal markets, a business must access the market demand for their specific product. Conducting thorough research provides valuable insights into the potential performance of the product and helps make informed decisions about entering into the market. III. Positioning Strategy: The most effective strategy is for the product to successfully expand into an international market and establish a strong presence is to thoroughly assess and analyze your competition. This include brands that are both direct and indirect competition. This critical step helps gain valuable insights and identify potential areas of opportunity and avoid any threats. It is imperative to understand that each country and/or region has its own distinct buying habits and cultural norms. Thus, it is essential to tailor your approach accordingly and take these unique factors into consideration. This strategy will ensure that the brand resonates with the local audience and effectively meets their needs as well as navigate any complexities of entering into a new market to ensure long-term success. To maintain its position, the business must adapt its positioning strategy for each country. This is essential because the brand will be evaluated in

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different contexts in each market. Understanding these contextual differences is critical to avoid translation issues and ensure clear communication. IV. Local Strategy: Ensuring that there is a local understanding is critical for the business’s success, as it allows them to familiarize themselves with the market and targeted consumers prior to expansion. Having an in-depth knowledge of the local market will allow the business to effectively assess the performance of their product and identify any areas for improvement and/or necessary adaptations. However, there is a delicate balance between maintaining consistency and adapting to local markets. It is critical to uphold a consistent brand image across different regions, but it is equally important to tailor brand messaging ad approaches to effectively resonate with local audience(s). By doing so, businesses can establish a strong and confident presence in each market that they enter into. Having a local reach goes beyond language translation. It involves understanding the cultural preferences and behaviors of the targeted audience. These insights allow the brand to develop marketing strategy that effectively connect with the local community and fosters a sense of familiarity and trust within the product.

By investing both time and resources into building a local understanding, companies can position themselves for success in international markets. The ability to adapt and adjust to unique needs and/or expectations of each market will enhance the brand reputation, build customer loyalty, and drive profitability. References: Benefits of International Expansion . Bizjournals.com. (n.d.). https://www.bizjournals.com/bizjournals/how-to/growth-strategies/2017/12/5-benefits-of- international-expansion.html Developers, F. (2023, May 15). Global vs local marketing - where things get sticky - . Freedman International. https://www.freedmaninternational.com/insights/global-vs-local-marketing- where-things-get-sticky/ Evocalize. (2023, October 31). Why local marketing is important . LinkedIn. https://www.linkedin.com/pulse/why-local-marketing-important-evocalize-lm7je Langholz, S. (2022, November 23). International Marketing Tips: How To Adapt Your Messaging . Customer Engagement Blog. https://onesignal.com/blog/understanding- international-messaging-preferences/ Strategy, B. (2023, December 6). How can you position your brand for international expansion? . Brand Positioning Techniques for International Expansion. https://www.linkedin.com/advice/0/how-can-you-position-your-brand-international- expansion-fkhje#:~:text=To%20position%20your%20brand%20for%20international %20expansion%2C%20focus%20on%20comprehensive,ensure%20compliance%20with %20international%20regulations. Ting, S.-C. (2014, August 13). The relationship between customers’ switching cost and repurchase intention: The moderating role of satisfaction . Journal of Service Science and Management. https://www.scirp.org/html/5-9201681_49140.htm

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3-2 Short Paper Global Marketing, Localized or Standardized Strategy Selection

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