Think global, market local.(Brief Article)

There has been much discussion about the benefits of going global versus the need to be local. Most would agree there needs to be a judicious combination of both. According to the chairman of Bain & Co, companies must produce, package, brand and communicate, on a local basis but use centralised R&D, management training, cultural values, and opportunities for generating product ideas globally. In other words, companies must think globally and market locally. Examples of this kind of strategy are Coca-Cola, with its hefty global brand supporting 400 local brands in 200 countries, and Pepsi producing snacks that are feta-flavoured in Greece and seaweed flavoured in Thailand. …