International and global marketing are terms that are often used interchangeably, but they have distinct differences. Here’s an overview of each:
INTERNATIONAL MARKETING:
• Scope: International marketing refers to marketing activities that involve selling goods and services across national borders. It involves marketing products in different countries with an understanding of the local cultures, preferences, and regulations.
• Approach: Companies engaging in international marketing often tailor their marketing strategies to suit each specific country or region. This may involve adapting the product, pricing, promotion, and distribution strategies to meet local requirements.
•Flexibility: The approach in international marketing tends to be more flexible, considering the diverse needs and preferences of consumers in various countries.
GLOBAL MARKETING:
• Scope: Global marketing, on the other hand, involves marketing a product or service with a standardized approach across multiple countries. The focus is on creating a consistent brand image and message that transcends national borders.
• Approach: Companies practicing global marketing typically develop standardized marketing strategies that can be applied universally. The emphasis is on creating a global brand identity, often with uniform product offerings, pricing, and promotional activities.
• Conform: Global marketing depends on standardization to achieve economies of scale and efficiency. The idea is to create a unified and recognizable brand presence worldwide.
Basically, the main difference lies in the scope and approach. International marketing is more localized, adapting to the specific needs of different countries, while global marketing takes a standardized approach, working towards consistency and a unified brand presence across multiple markets. Companies often choose the one that aligns with their business goals and market conditions.