The Marketing Strategy

Segmentation. Targeting. Positioning. These are key components to developing a marketing strategy. It is important to localize target markets to get the most value out of selling goods and services because consumers are unique; however, the article “Why Localizing Marketing Doesn’t Always Work,” suggests that consumers might not be as different as marketers presume. It is easier to develop a study or test that shows differences among the population. Tests that show similarities are almost nonexistent.

Consumers do have similarities such as human needs such as a desire for security, wanting to belong, and providing for one’s family. Products and services that address these needs don’t require much localization. Many resources are used to localize offerings such as positioning, prices, and promotion.

Organizations have been trying to focus on using both similarities and differences to position their products using three methods.

1.       Statistical tests of difference should be more practical and realistic rather than being close-minded. It should also consider the amount of resources are being used to localize offerings.

2.       Companies that operate in several countries thrive on scale. They are more biased towards similarities rather than differences.

3.       Since markets and media are becoming more global, similarities are becoming more visible and statistical tests are beginning to identify converging consumer tastes.