Business – 8.2 Marketing strategy – International marketing | e-Consult
8.2 Marketing strategy – International marketing (1 questions)
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Increased globalisation expands the potential customer base but also introduces greater diversity, forcing firms to rethink segmentation:
- Cultural segmentation: Language, values, and social norms vary widely. Multinationals must identify cultural clusters (e.g., collectivist vs individualist societies) and adapt product features, branding and communication to resonate with each cluster.
- Geographic segmentation: Physical distance, climate, and regional economic development affect demand. Firms often create regional segments (e.g., North America, EU, ASEAN) to align distribution and pricing with local purchasing power.
- Behavioural segmentation: Purchase occasions, usage rates and brand loyalty differ across markets. Data‑driven analytics help identify high‑value behavioural segments such as “tech‑savvy early adopters” in urban centres worldwide.
- Standardisation vs adaptation:
- Standardisation offers economies of scale, consistent brand image and lower production costs.
- Adaptation allows firms to meet local preferences, comply with regulations and gain competitive advantage in niche segments.
Most successful multinational firms adopt a glocal approach: they maintain a core brand identity (standardised) while tailoring key elements (product features, messaging, pricing) to distinct cultural or geographic segments.