What is a global marketing strategy?
Now that you have explored how push and pull factors can encourage companies to expand into international markets, let’s go on to explore what is meant by Global Marketing Strategy (GMS) and why it is important.
All organisations need a guiding strategy. Without strategy, an organisation cannot understand where it has been and where it intends to go. Strategy becomes even more important when organisations are spread across multiple countries or continents due to the challenges this can create.
The work of Zou and Cavusgil (2002) is important in helping contextualise what global marketing strategy is. Their article, which you will read below, helps provide an insight into global marketing strategy and review some of the key academic concepts in this area.
Read pages 40–44 of The GMS: A Broad Conceptualization of Global Marketing Strategy and its Effect on Firm Performance (Zou and Cavusgil 2002), up to the heading ‘A Model of the GMS and Firm Performance’.
Consider the following points when reviewing this reading:
- What constitutes a global marketing strategy?
- The article discusses product standardisation; what role do you think adaption plays?
- Why is the Zou and Cavusgil article important?
Share your thoughts with other learners in the ‘comments’ area.
Zou, S., and Cavusgil, S. T. (2002) ‘The GMS: A Broad Conceptualization of Global Marketing Strategy and its Effect on Firm Performance’. Journal of Marketing 66 (4), 40-56
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