Ah, there's an oft overused phrase for you--world-class marketing. I'll note that world class' initials also stand for waste can, water closet--you get the idea.
World-class marketing sounds great, but what does it mean?
CNN takes a stab at defining it in their annual Global Influentials special section. Selling to the World covers the obvious need to customize marketing strategies based on local lifestyles, cultural differences and more. One of my favorite passages notes why companies usually fail at doing this:
Arrogance or ignorance can foil a company's bid for global success, especially those who fail to understand what worked in the past, or in its home country, might not work everywhere."The issue is knowing what your product stands for, while being flexible in terms of what the local culture can accept," said Peggy Mitchell-King, a senior consultant with Morgan Anderson. "You may have to step back and say, gee, we are not the center of the Earth."
The key is having a well-defined brand and the willingness to customize your marketing strategies, and sometimes even the product, to fit the location. How well defined is your brand?
This reminds me of an idea from veteran marketer Jim Taylor on product positioning: "instead
of a product's differentiation, focus on a product's point of distinction. Customers will make the safest bet and buy the product with the least amount of risk. Rather than make your product appear different (read: an unknown quantity) make it stand out from its field of competitors. Make it the best at what it does."
You might say, make it world-class? Or perhaps industry-leading? Insert your favorite buzzword here.
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