As the world has become more interconnected and interdependent through the processes of globalisation, businesses too have sought to market on a multinational basis. Multinational marketing is complex and requires open, innovative thinking and extensive planning. The key contextual distinction that exists within the concept of multinational marketing is the global and the local. Arguments for a standardised global approach point to cost effectiveness and integrity maintenance, while those in favour of local adaptation cite higher returns and brand equity levels.
Multinational marketing is the marketing of brands sold in multiple countries, encompassing advertising or other related activity in those countries.
1. To succeed in China, global brands must adapt to its unique realities
As Chinese consumers become more prosperous and sophisticated, they are less impressed by global reputations. Global brands are seen as more distinctive but have failed to understand and innovate fast enough against Chinese expectations. They should be aware Chinese consumers value wellbeing and making life easier and more pleasant. Global brands also need to understand the different digital and retail ecosystem versus the West and the crucial role of mobile throughout the path to purchase. And the importance of employing local talent, connecting with the local distribution system and understanding the right way to set up their digital presence.