Global marketing strategy and global localisation (glocalisation) - 4.3.1
Global marketing strategy - A product strategy to increase sales through promotion and advertisements to the international market. It focuses on the 4Ps - Price, Place, Promotion and Product - on a range of foreign markets. Marketing strategy - A process to allow a bsuiness to focus limited resources on the best opportunities to increase sales and thereby achieve a sustainable competitive advantage. Glocalisation - is the adaptation of a global marketing strategy in order to meet the requirements of local geographic markets. The term is a mix of globalisation and localisation. MNCs such as Coca-cola and McDonald's use the same global marketing strategies in each market in which they operate, which has the advantage of economies of scale across global markets, called global brands. This would be a transnational corporation approach which is also used by Rolls-Royce cars, Chanel handbags and Tiffany jewellery, all luxury products. However, businesses increasingly have found t...