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There are numerous issues that underpin the development of global marketing strategies. Currently, there is no universal framework that can provide precise guidelines for reaching an efficient balance between adaptation and standardisation. Therefore, a dedicated analysis is needed that allows for a better understanding of the numerous phenomena that stand behind the emergence and evolution of various economic incentives and strategies in an increasingly globalised world.
Marketing has long been considered one of the spheres that are significantly influenced by globalisation. The media and the ease of information transmission have allowed numerous professionals working in marketing to successfully implement a wide range of techniques in foreign countries. When a multinational corporation considers various types of market penetration, it is generally most inclined to utilise its expertise in marketing prior to the establishment of other operations. Constructing factories and organising regional offices in the region usually happen after the creation of sophisticated logistics and marketing networks.
Multiple scholars have been involved in recent debates concerning the general tendencies worldwide. Candelo (2019, p. 2) states that convergence in marketing management techniques often points to the globalisation of an industry. Nevertheless, the emerging evidence suggests that the globalisation process has been significantly slowed by the increasing role and influence of Asian economies. Thus, large parts of the population currently live in the regions where the scale of the economy and numerous policies allow for the development of cultural phenomena that rival those imported from the West. Numerous scholars have suggested that the globalisation process that is primarily associated with standardisation relies on the dominant role of the West in various spheres. Thus, the decreasing scale and pace of westernisation may point to the decline of globalisation trends.
An empirical investigation focusing on three different countries suggests that one of the most crucial characteristics attributed to a nation is its place on the individualism-collectivism spectrum. The scholars came to the conclusion that values of uncertainty avoidance and individualism/collectivism directly influence service quality dimensions (Malhotra, Agarwal and Shainesh, 2018, p. 6). Therefore, for marketing specialists worldwide, it is essential to evaluate all the risks and opportunities of using specific marketing material concerning the above-mentioned phenomenon.
Moreover, various goods demonstrate different characteristics that may be valued in certain cultural regions more than in other parts of the world. Given that encouraging second-order services have become instrumental for the enhanced business strategy, marketing professionals seek to find the essential feature of a product or a service that can be emphasised. It is crucial for targeting foreign markets in the most efficient way.
Reliability is one of the features that can characterise products, services, and companies. According to Figure 1, among the five most commonly evaluated factors that determine the quality of products or services, reliability stands out as the most widely considered in certain societies. Therefore, in highly collectivist societies that are concentrated predominantly in Asia, it is essential to emphasise this quality. Moreover, in collectivist communities, people tend to rely on others experiences to a greater degree, which makes the original increased investments and efforts justifiable. Therefore, the analysis of a single phenomenon that underpins the culture and the hierarchy of values allows for the enhanced image of business opportunities. The initially high costs of building a solid brand lead to a substantial, loyal customer base.
Some Western brands have reached remarkable performance due to the above-mentioned phenomenon describing highly valued reliability in collectivist societies. Certain products and services, if appropriately marketed and targeted, can become a significant part of a culture in an Asian nation. KFC, the fast-food chain that specialises in fried chicken, has proven that the approach often leads to unprecedentedly high sales figures. The company has put significant efforts into marketing campaigns that promote the quality of its products and the atmosphere that can be created by a purchase of a large basket of fried chicken for Christmas. Although the initial links between the fast-food chain and Christmas were not obvious, the American company managed to overcome cultural barriers and create an entirely new niche solely for itself.
Such marketing efforts in highly collectivist societies target a small loyal customer base that can then significantly influence neighbours, friends, and colleagues. Consequently, a chain reaction often happens in such societies, as people are afraid to be left behind a universal trend that has already become the norm. Thus, on the 25th of December, dozens of millions of Japanese purchase insurmountable quantities of fried chicken cooked following a Kentucky recipe. It is just one of the numerous success stories of a multinational able to realise how cultural phenomena can contribute to the establishment of an entire niche reserved for the innovator.
There are multiple frameworks that seek to explain the decision-making process in multinationals concerning the most efficient formation of a purchase intention in a wide range of customers. As depicted in Figure 2, proximity and cultural orientation have become increasingly influential factors that determine the demand when entering a new market. Nevertheless, the perceived overall effectiveness of a good or service continues to be the most crucial factor that is taken into consideration when making a purchase decision. Thus, despite the recent tendency to focus on adaptation to local tastes, cultural factors, and other features, the emphasis on the essential qualities of goods and services should always prevail in all marketing materials.
In the 1990s, a new era of globalisation unexpectedly began, as the political tendencies in Latin America and Eastern Europe allowed multinationals from wealthy Western countries to gain dominant positions in these regions. At the same time, De Mooij (2019, p. 32) states that US firms promoting their goods and services abroad often prioritise American criteria for marketing strategies. Protectionism became highly unpopular throughout the world, which deprived numerous developing countries of an opportunity to industrialise. Nevertheless, the notorious race to the bottom and the rapidly growing might of multinationals were compensated by the enhanced living standards for billions of people.
Given the enormous role that globalisation has had for the last thirty years, it has become clear that numerous scholars and entire educational institutions have become trapped in complex theoretical frameworks. The emerging evidence suggests that the deglobalisation process is starting to take place. First, the new economic powerhouses have developed across Asia, which allows consumers worldwide to switch to goods and services that were created in a country with a similar culture. Secondly, China and several other countries are capable of producing various high-tech equipment while offering reasonable prices. This trend undermines the current dominance of Western multinationals working in a large number of industries.
Moreover, the fastest growing regions that are destined to shape multiple trends in the economy of the 21st century are India and Africa. The former has already demonstrated that it does not rely on Western standards in various industries and seeks to develop independent cultural and technological frameworks for its manufacturers. The latter, meanwhile, demonstrates increasingly close economic ties with China, which take the form of abundant investment, infrastructural projects, and trade. Thus, the economic world in this century will feature several economic centres.
More importantly, the West, India, China, and several other regions will start to produce technologies that diverge from the existing global standards. According to Abdulmajid (2019, p. 207), digital marketing has substantially altered the way various brands use technology in their marketing strategies since the 1990s. Politics and sophisticated economic strategies, taking the form of increasingly efficient soft power tools, will lead to the rapid development and establishment of standards and entire ecosystems (in IT, banking, and retail) that are not interlinked.
The above-mentioned tendencies will serve as a hook for neighbouring countries that will start to rely on high-tech goods and equipment coming from a single source. According to Kotabe and Helsen (2020, p.289), global products and component standardisation encourage the development of international marketing strategies. Thus, global marketing strategies thrive only due to the standardisation of goods they promote. This will inevitably become a new factor that should be taken into consideration by marketing professionals of the future.
There is a plethora of new trends that have become global in recent years. Alon et al. (2020, p. 7) claim that sustainability, corporate social responsibility, and ethics significantly influence the development and application of modern marketing strategies. Thinking global, protecting the Earth has turned into a crucial competitive advantage for companies operating in different industries. Despite the decreasing number of trends that could be considered international, all the green efforts and the promotion of sustainable development have become the trend that appeals to the vast majority of the worldwide population.
Due to the efficiency of the global economy and the ability of consumers to create excessive volumes of goods, the role of marketing worldwide has increased substantially. As in the case of any other sphere that has become essential for successful business performance, marketing has rapidly become regulated and dependent on cliches. What is more, the institution itself has become too self-centred. Trust and efficient relationships between marketing and sales teams are instrumental for the successful product launch for a subsidiary market (Le MeunierFitzHugh, Cometto and Johnson, 2021, p. 3). The study performed by Le MeunierFitzHugh, Cometto and Johnson pinpointed the disbalances between the incentives of various teams and departments. The authors claim that numerous objectives have become unrealistic and do not contribute to increased sales figures.
Close operation between various departments underpinned by the functional role of marketing helps achieve better performance through different phenomena. Pricing is generally considered the most challenging part of the marketing mix, as a plethora of factors is to be taken into consideration in each case (Kalogiannidis, Melfou and Papaevangelou, 2020, p. 2086). The study underlines that prices in several industries have become dependent on marketing strategies and have minimal correlation with costs, which can diminish customer loyalty in the long run.
The research conducted by Leonidou and Hultman pinpoints the essential role of proper business relations. Marketing agencies and departments worldwide began to concentrate predominantly on appealing to customers. At the same time, scholars claim that business-to-business communication is often neglected. Leonidou and Hultman (2019, p. 4) emphasise the role of cultural variables in mitigating crises in business relationships between exporters and importers. Rezende, Galdino, and Lamont (2018, p. 6) claim that knowledge applied in international opportunity development constantly influences how a firm seeks to enter a foreign market. Therefore, it is essential to explore various types of communication strategies that can enhance cooperation, as export remains one of the major options for entering a new market.
A remarkable number of studies emphasise the prominent role of different forms of art and social media in standardisation. For instance, film industries worldwide are significantly influenced by globalisation and the application of new technologies (Madichie, Ajakaiye and Ratten, 2019, p. 9). Therefore, according to the study, multinationals working in the sphere show the tendency to apply standards developed by film-making studios in countries such as the US, India, Brazil, and Turkey.
Global marketing is generally associated with multinationals with remarkable financial resources that can be allocated to research and design. Spreen et al. (2020, p. 491) claim that generic advertising and promotional activities are the most efficient tools in commodities marketing. At the same time, the rise of information technologies allows numerous small companies to start exporting goods and services with minimal barriers. The prevalence of small to medium-sized enterprises marketing in the informal economy has led to multiple debates over related issues. (Madichie, Nkamnebe and Ekanem, 2020, p. 4). Therefore, the study pinpoints that small and medium-sized companies currently shape the approach to international marketing alongside multinationals.
Similarly to the debate over adaptation and standardisation in marketing through globalisation, the quality of transformation has raised numerous concerns. Seamless multimodal language mixing may significantly decrease the perceived quality of marketing materials. (Martin, 2019, p. 3). The study performed by Martin provides the analysis of numerous marketing materials translated from English to French in French-speaking countries. The scholar came to the conclusion that the reliance on close translation can lead to a poor perception of the brand in general.
Several other studies point to the remarkable role of developing a brand image in each market. For instance, Paul (2018, p. 723) claims that massive marketing strategies can help to generate higher prestige value. The scholar claims that the global marketing strategies that are developed by multinationals should promote predominantly the brand itself, not solely goods and services. Another study from Slovakia has investigated the issue and demonstrated that brands have to establish efficient, emotional connections with customers. Poradova (2020, p. 4) states that communication with customers represents the cornerstone of modern marketing strategies. Therefore, both researchers emphasise the multinationals ability to build long-term appeal based on trust and values.
Given the number of studies that explore the evolution of marketing strategies, numerous scholars have gradually developed different perspectives on the issue. For instance, Shultz et al. (2022, p. 2) state that marketing is the most global institution on Earth. Meanwhile, Wei, Ang, and Liou (2020, p. 7) argue that cause-related marketing and focus on customers cultural orientation are instrumental in the implementation of successful marketing strategies in many parts of the world. Therefore, it is essential to combine the expertise provided by both types of studies, which will help to distinguish between the marketing methods that can utilise standardisation heavily and those that rely on cultural factors.
The world economy is changing rapidly, as do the multiple other spheres of human activities. The development of new sophisticated frameworks in politics, economics, science, and culture has accelerated to a point where the analysis becomes a complex undertaking. Wichmann et al. (2021, p. 3) claim that advancements in technology, environmental changes, and socioeconomic and geopolitical shifts have altered the common marketing approaches substantially. A medium-sized company can utilise a flexible system and evaluate several factors that can contribute to the creation of an efficient marketing strategy centred around its relatively small product line.
At the same time, multinationals operating in various industries that operate sophisticated networks of research centres, logistic hubs, and other facilities do not have much room for manoeuvre. According to Wu et al. (2018, p. 6), the international depth of a firm typically has adverse effects on innovation performance. These scholars from Nanjing University of Information Science and Technology pinpoint that every change in multinational corporations leads to a remarkable increase in costs, alongside several months of decision-making on different levels.
Modern international marketing strategies are influenced by globalisation and deglobalisation. Moreover, the operations of multinational corporations are shaped by the confrontation between standardisation and adaptation. The overview and the analysis of the studies mentioned above on the issue allow for a comprehensive understanding of the various trends that underpin both convergence and divergence in marketing methods applied by multinationals with different scales of operations. The rapid development of new financial and economic centres and numerous recent consumer trends, with sustainability being the most prominent, are destined to change marketing. Although adaptation and customisation will be utilised in global marketing strategies more frequently, the introduction of new cultural and technological standards by countries, such as China, will accelerate in the near future.
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