What are the benefits of adopting a standardised vs a localised approach in international marketing?

Adopting a standardised approach in international marketing offers cost efficiency, brand consistency, and simplified management, while a localised approach ensures cultural sensitivity and market relevance.

A standardised approach in international marketing refers to using the same marketing strategy and mix in all of the company's international markets. This approach offers several benefits. Firstly, it can lead to significant cost efficiencies as the company can develop a single advertising campaign for use in all markets, reducing the need for multiple campaigns. This can also lead to economies of scale in production and distribution as the same product is sold worldwide.

Secondly, a standardised approach can help to maintain brand consistency. By using the same logos, taglines, and advertising campaigns across all markets, the company can build a strong, unified global brand image. This can be particularly beneficial for companies in industries where brand image is a key differentiator, such as luxury goods or technology.

Thirdly, a standardised approach can simplify management and control. With a single marketing strategy and mix, it is easier for the company to monitor and control its international operations. This can reduce the risk of mistakes or inconsistencies that could damage the brand image.

On the other hand, a localised approach in international marketing involves adapting the marketing strategy and mix to suit each individual market. This approach also has several benefits. Firstly, it allows the company to be culturally sensitive. By understanding and respecting the local culture, customs, and tastes, the company can develop products and advertising campaigns that resonate with local consumers. This can lead to higher customer satisfaction and loyalty.

Secondly, a localised approach can ensure market relevance. Different markets can have different needs, preferences, and buying behaviours. By adapting its products and marketing to suit these differences, the company can ensure that its offerings are relevant and appealing to local consumers. This can lead to higher sales and market share.

Finally, a localised approach can help the company to respond more effectively to local competition. By understanding the local market and competitors, the company can develop strategies to differentiate its products and gain a competitive advantage. This can be particularly beneficial in markets with strong local brands or unique competitive dynamics.