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'Going global, acting local - communicating global brands to global markets' - Assignment Example

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'Going global, acting local - communicating global brands to global markets'

For instance the issues related to the differences in the cultural, political, social and economical factors. This report highlights on the Global, Local and Glocal Strategies followed by various brands. Global, Local and Glocal Strategies The theory of standardization for the marketing activities works on a marketing level but is often seen to lack richness of details that is needed to act at a tactical and operative level. Marketers of multinational organizations are facing difficulties in creating products and advertising programs that can communicate effectively with the diversified target markets. To provide a solution to this problem and assist in this task various frameworks have been developed that would determine the degree of effort required and which effort to follow global, local or mixed. Globalization Robertson (1992, cited by Waters, 2002) stated that globalization can be defined as a concept that leads to compression of the world and at the same time intensifies consciousness. Speaking broadly two complementary disciplines namely sociology and political economy are seen to make significant contribution to the study of globalization (Coca-Stefaniak & Parker, 2010). From the political economic point of view globalization is defined as an integration of nation economies with the global economies through investment and trade further advanced by technology, “the process is driven by the theory of comparative advantage, the goal of international competitiveness and the growth model” (Hines, 2000, p. 4). A more diverse viewpoint has been presented from the sociology view point. Ritzer (2004) and Giddens (1991) has seen globalization as standardised and homogenised phenomenon and finally construed by Albrow (1992, p. 248) as “the process whereby the population of the world is increasingly bonded into a single society”. Hence globalization addresses the business issue by taking a product to the global market (Pym, 2009). While designing marketing strategy the whole world is viewed as a single entity and standardised products are developed and marketed in the same way everywhere (Vignali, 2001). Zara is a leading international fashion clothing retailer and one of the successful and fastest growing companies in Spain (Hill & Jones, 2009). The designers at Zara create approximately 40,000 new designs every year from which only 10,000 are selected. Zara offers clothing for men (about 22% of sales), women (about 58%) and children (about 20%) (Torun, 2007). It is well known for its fashion sensitive product being manufactured internally. The products offered by Zara are designed as such that it matches with the climatic, cultural and physical differences of the country like small size cloths for people of Japan, cloths matching to the different seasons of South America and special cloths for women in the Arab countries. However 85% to 90% of the basic designs available at Zara are common for all the countries in which it serves (Ghemawat And Nueno, 2006). This commonality is due to the regular interaction between La Coruna, the creative team and the local store managers. About 10%-15% of the product offered by Zara does not differ from country to country; they are retrieved from the same menu of products. The products ...Show more

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Going global, acting local - communicating global brands to global markets Name of the Student University Table of Contents Table of Contents 2 Introduction 3 Global, Local and Glocal Strategies 3 Globalization 3 Localization 5 Glocalization 7 Macro factor that may affect Zara in future 8 Recommendations 9 REFERENCES 10 Introduction In the present era the major challenge for the global corporation is to decide and adapt to a marketing strategy…
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