Many need to discover the difference between Global and international marketing. However, the application and the criteria behind each market concept are different.
What is Global Marketing?
Global marketing can be achieved the company's global goals using a single marketing strategy to sell its products/services worldwide across different countries.
What is International Marketing?
International marketing can be applied to strategies that fit each market in different countries.
Key Differences Between Global Marketing and International Marketing:
Global Marketing:
- Applying a single universal strategy worldwide.
- Creating products/services that fit the global market (standard).
- Hiring cross-cultural marketing personnel in the headquarter.
- The company headquarter is responsible for marking budgeting.
- One main social media presence across multiple platforms for the company.
International Marketing:
- Applying tailored strategies for each country's target market.
- Creating products/services or subsidiaries that are designed according to the local market needs of each country (customized).
- Hiring native marketing personnel from targeted countries.
- Each international subsidiary is responsible for its marketing budgeting.
- Multiple social media presence across various platforms for each subsidiary.
The Importance of Global Marketing:
A company can build a new customer base by expanding worldwide. Moreover, it can overcome its competitors' competitive advantages by delivering good quality products and services while following a standard approach in the expansion.
The Importance of International Marketing:
International marketing is about expanding a certain business in different countries with a customized marketing strategy for each market in the targeted countries. This can help build connections with new customers in each country and increase customer engagement.
Examples of Global Marketing:
Walmart can be an example of Global marketing. The brand maintains a standard and uniform product structure and design for the target countries.
Examples of International Marketing:
McDonald's is a great example of international marketing. It operates in almost 100 countries around the world. The fast-food chain customized its marketing strategies according to the target countries. For example, McDonald's customized products to suit each market. For example, the Japanese appetite is small compared to other countries. So the burger sizes were tailored to be small in size. Many need to discover the difference between Global and international marketing. However, the application and the criteria behind each market concept are different.
Conclusion:
Going for a customized or standard strategy depends on the company's overall goals. Every step needs research to conquer, but you can always get a professional consultation from specialized marketing agencies to walk you through the right path.