What is the multi-domestic strategy?
Chapter6: International Management
Section6.3: The Globe Framework
Problem 2DQ: What are the implications of the above differences for how business is conducted in Malaysia and...
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What is the multi-domestic strategy?
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Multi-domestic strategy:
A multi-domestic strategy is an international marketing approach that looks to focus the advertising and other related marketing efforts with a bid to focus on the needs and desires of the local market. This strategy does not follow a general global or universal approach. The companies operating under this strategy will be looking to understand the local beliefs, cultures, and develop a marketing and advertising strategy that is in level with those beliefs and cultures. A multi-domestic strategy does not follow a mass-market approach.
Multi-domestic strategy:
The advantages are:
- The strategy allows organizations to meet the specific needs and of each of the markets more accurately.
- The organizations can alter and swiftly respond to localized changes in demand.
- The company can target the reaction of customers towards local rivals.
- Companies can respond more quickly to local opportunities and threats.
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