Page 58 - GLOBAL STRATEGIC MARKETING

• Marketing

infrastructure

• Trade

Restrictions

• Procedures and

documentations

• Highly

unpredictable

1.1 Introduction

The slogan ‘think globally, act locally’ is often used to describe the ideal
managerial mindset. It captures the need to think in global terms when

going into new markets, and to design your product or services to suit the
needs of the local consumer. International marketing strategy has become
important to companies around the world for three reasons:

1. Foreign markets constitute an increasing proportion of the total
world market.

2. Foreign competitors are increasing their market share in one
another’s markets.

3. Foreign markets can be essential sources of low-cost products,
technology and capital.