What is the difference between advertising strategy when a company follows a multi domestic strategy rather than a global market strategy?
A global marketing strategy assumes all consumers in all countries or geographic regions are the same. This strategy is best suited for standardized products such as copy machines and Coca-Cola, where there is little to no need for product differentiation. Coca-Cola, for instance, can be found all over the world, and is easily identified as such. Global marketing has distinct advantages, allowing for centralized management and coordination of critical business functions, such as human resources, finance and product.
A multidomestic marketing strategy assumes consumers in different countries or geographic regions differ drastically from one another. Products are tailored for each market, based on consumer wants and needs. A multidomestic marketing strategy is ideal for highly differentiated products, such as laundry detergent and candy, or any other product dictated by local preferences. Decision-making control is decentralized because management must be able to respond on a local level.