If you want to create a market-driven strategy, you must decentralize your management, distribution and your marketing. By decentralization we mean that you have to create specific offices in each country where your business is operating. Each office in each region must have the control on marketing and product management.
The main goal here is to release the product in the market and make sure that each consumer can relate to the product, and there is no other way to make the products relevant to the consumer than to let the people on the region manage on the production. They know their culture better and they know what their people want, so you should leave this up to them. It is not easy to craft the product and target the consumer in a particular region if the decision came from the central office.
Through decentralization, you can take advantage on the expertise of your local office. You can achieve local success through this. Decentralization strategy is a must for the products that require high level of support.
Showing posts with label global business strategy. Show all posts
Showing posts with label global business strategy. Show all posts
February 28, 2010
February 25, 2010
Global Business Strategy Number 3: Products Customization
In a global market, you are targeting different kind of customers from different part of the world. To effectively target the variety of customers, you have to customize your products in such a way that it will satisfy the needs and tastes of customers in the locality.
The packaging and product features should be based on the preferences of the culture and should be in accordance to the buying patterns of local consumers. The more you will customize your products based on the local global consumers, the more you can maximize your sales in each region where you sell your products.
If producing products and sourcing local raw materials is more cost effective than producing and distributing from one location, you can use customization strategy. This is the best and most effective way to reach out to the needs of your customers. Local buyers prefer to buy products where they can relate, so you should customize your products from packaging to the product content.
The packaging and product features should be based on the preferences of the culture and should be in accordance to the buying patterns of local consumers. The more you will customize your products based on the local global consumers, the more you can maximize your sales in each region where you sell your products.
If producing products and sourcing local raw materials is more cost effective than producing and distributing from one location, you can use customization strategy. This is the best and most effective way to reach out to the needs of your customers. Local buyers prefer to buy products where they can relate, so you should customize your products from packaging to the product content.
February 24, 2010
Global Business Strategy Number 2: Centralization
It is important that you could centralized managing your global business. This will allow you to make decisions in a corporate vantage point. Without centralization, the decision will come from a country specific view which is sometimes vague. If your local knowledge is not essential for success and product customization needs are low, then centralization is effective for your global business.
When we say centralization, it is the process of centralizing your management, distribution and marketing efforts. You are using a single location to implement these things. This will lead to a unified approach and good coordination when it comes to decision making.
You can hire or outsource from one region and assign duties and responsibilities based on their location. You can have a marketing team in your headquarters and you can coordinate with your regional marketing personnel, they should be responsible of distributing your materials in their own respective local markets. You have centralized the production of your materials, so it is easy for you to manage the distribution to local markets in each region.
When we say centralization, it is the process of centralizing your management, distribution and marketing efforts. You are using a single location to implement these things. This will lead to a unified approach and good coordination when it comes to decision making.
You can hire or outsource from one region and assign duties and responsibilities based on their location. You can have a marketing team in your headquarters and you can coordinate with your regional marketing personnel, they should be responsible of distributing your materials in their own respective local markets. You have centralized the production of your materials, so it is easy for you to manage the distribution to local markets in each region.
Global Business Strategy Number 2: Centralization
It is important that you could centralized managing your global business. This will allow you to make decisions in a corporate vantage point. Without centralization, the decision will come from a country specific view which is sometimes vague. If your local knowledge is not essential for success and product customization needs are low, then centralization is effective for your global business.
When we say centralization, it is the process of centralizing your management, distribution and marketing efforts. You are using a single location to implement these things. This will lead to a unified approach and good coordination when it comes to decision making.
You can hire or outsource from one region and assign duties and responsibilities based on their location. You can have a marketing team in your headquarters and you can coordinate with your regional marketing personnel, they should be responsible of distributing your materials in their own respective local markets. You have centralized the production of your materials, so it is easy for you to manage the distribution to local markets in each region.
When we say centralization, it is the process of centralizing your management, distribution and marketing efforts. You are using a single location to implement these things. This will lead to a unified approach and good coordination when it comes to decision making.
You can hire or outsource from one region and assign duties and responsibilities based on their location. You can have a marketing team in your headquarters and you can coordinate with your regional marketing personnel, they should be responsible of distributing your materials in their own respective local markets. You have centralized the production of your materials, so it is easy for you to manage the distribution to local markets in each region.
February 22, 2010
Global Business Strategy Number 1: Standardization
Standardization method can enhance your global business profit. In standardization, you can use your standard products to market your business globally. You do not need to put extra effect on your products. You can later on customize the products based on the legalities required by each country where you establish your business.
For example, if you are selling chips, you can sell the same product all over the world, but you can change the packaging. You may customize the language on the package to reflect the country where you are selling the chips. But you must have to consider also the legalities involve for this. Study the legal requirements of the country where you are selling the product.
With standardization, you can expand your business quickly in global market. You can maximize your profits without compromising the cost of business expansion. Standardization approach is recommended for those products that are accepted globally without the need of implementing a lot of customizations.
For example, if you are selling chips, you can sell the same product all over the world, but you can change the packaging. You may customize the language on the package to reflect the country where you are selling the chips. But you must have to consider also the legalities involve for this. Study the legal requirements of the country where you are selling the product.
With standardization, you can expand your business quickly in global market. You can maximize your profits without compromising the cost of business expansion. Standardization approach is recommended for those products that are accepted globally without the need of implementing a lot of customizations.
September 9, 2009
Employ a Smart Global Business Strategy
Most successful small businesses are successful because they develop smart strategy and execute on that strategy. Yet many small business owners often confuse decisions and strategy.
Every small business owner makes decisions about their business. For example, they decide where to market, how to market, how much money to spend on marketing and sales, what types of products and services to market and sell, etc. These decisions are important - but they are not strategy. These day-to-day decisions are like the moves we make in a game of chess. Knowing how to make a move lets you play the game. It takes strategy and execution to win.
Every small business owner makes decisions about their business. For example, they decide where to market, how to market, how much money to spend on marketing and sales, what types of products and services to market and sell, etc. These decisions are important - but they are not strategy. These day-to-day decisions are like the moves we make in a game of chess. Knowing how to make a move lets you play the game. It takes strategy and execution to win.
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