Question

Justify how can a company's product line reflect on the statement "think globally, act locally"?

Answer 1

The slogan "think globally, act locally" signifies that if the companies want to be successful in marketing then they should have to tailor their marketing according to each geographical audience while maintaining a global brand.Every company or business has to think globally due to globalization of world and act locally according to conditions prevailing in local markets particularly related to economy, politics, environment, international laws, development etc. Local markets have different tastes and requirements which may be different from rest of world. So, global brands if want to become successful in local markets should modify their strategies, products, pricing models, sales and distribution techniques which suit the requirements of local markets.

Example McDonald's is global brand and has its presence in many countries of world. Its main product is the beef burger which is relished all over the world. But this strategy failed in India as Indians worship cow and having beef is forbidden in India. To e successful in India McDonald's change its strategy according to local markets of India. Indian people like to have vegetarian food products.

So, McDonald's change its menu and stopped providing beef burger. In fact it started selling normal "aloo tikki burger" which became a great hit. The price was kept reasonable as India has mainly middle or low income population. Also ingredients consisted of snacks made from potatoes which are very popular with Indian population. In this way McDonald's justified the slogan " think globally and act locally" and became successful in India.