Think Global, Act Local..

 "Think global, act local" means you have to tailor your marketing to
each geographic audience, while maintaining a global brand.

 In this ever increasing global market the trend to earn success in business is
through think globally and act locally.

 Well every businessmen have to be think globally due to globalisation of the

world around him and act locally in his local market watching the things
around him as like economy, politics, environment, international laws, poverty,
development, etc.

 This way you can learn from others mistakes or see the advantages of other
countries and implement them in your local market, so you can grow in the
market you are in.

 Local markets have their different tastes and centred to their own local
markets and not aware of things going around the world. This can be the
problem of the local markets.

 But for the international brands to enter the local markets they need to study
the local markets and modify the products and establish the brand in the local
market.

 Beyond that, new market need to tailor strategies, modify products, adjust
pricing models, adapt sales and distribution approaches and rethink marketing
programs.

 The international companies should have a local approach to target the local
market which is the main principle of this thinking.
 Suppose a car company launched a specific model in European market, the
features of same model launched for Indian market need not be same. They
may have cut cost and features for the Indian market.

 e.g.- Like Audi cars in India need to have a greater ground clearance as
compared to German model of same car. This is due to difference in
conditions of driving and road and market in both countries.

 There is no need to have a big company to succeed offshore. The starting

point is to become more aware of what’s happening offshore, what skills,
services and expertise are in demand globally, and then you can modify your
home product to the standard required for the offshore market.

 Thus each company should follow the rule of putting on customers shoes in
each local market and thus to achieve the success in international market.

 International marketing and export development are significant challenges for

companies of any size. Just like your domestic market however, the focus
should be on developing a close understanding of your customers in each
international market. If you do this, the probability is that you will respect local
cultures, develop a relevant promotional strategy and ultimately make the
right decisions on what elements of your strategy need to be adapted.