Global marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. It is the process of planning and executing the marketing mix in more than one nation.
Local marketing is the process of planning and executing the marketing mix in one specific nation.
The main difference between global and local marketing is the scope of the marketing campaign. Global marketing campaigns are designed to reach consumers in multiple countries, while local marketing campaigns are designed to reach consumers in one specific country.
There are several benefits to global marketing. First, global marketing allows companies to reach a larger customer base. Second, global marketing can help companies to increase brand awareness and brand equity. Third, global marketing can help companies to achieve economies of scale. Finally, global marketing can help companies to hedge against risk.
There are also several benefits to local marketing. First, local marketing allows companies to tailor their marketing mix to the specific needs and wants of local consumers. Second, local marketing can help companies to build strong relationships with local retailers and distributors. Third, local marketing can help companies to gain a better understanding of local culture and customs. Finally, local marketing can help companies to better control their supply chain.