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Local Marketing VS Global Marketing

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					Local or Domestic Marketing vs Global or International
Marketing




Local marketing and Global marketing are both marketing plans. All renowned and famous
companies have both local and global marketing plans. Companies that make progress locally
spread their business globally or internationally at a certain point of time. However, there are
certain major differences between conducting business on a local scale and an international
global scale.



Local marketing is a simple process whereas global marketing is a complex process. Local
market generally follows the primitive and traditional ways of marketing. It does not require
much effort once it is established in your locality. Global marketing is quite the opposite. The
strategies of global marketing vary from time to time and requires lots of effort to compete
with the other market of the similar service or product worldwide. Information is also simple in
local marketing whereas in global marketing it is much more complex.



Local market follows some simple rules with limited options. If you market high quality
products compared to other markets in a locality, you will get more customers. Global
marketing does not work this way. It does not abide by any constant rule or formula and
options of global marketing have no limits. No matter how good your product is, you will always
find your competitor somewhere in the world.
Global marketing is much more competitive than local marketing. In local marketing you
compete with the companies in your locality only but in global marketing, the whole world is
your competitor.

The number of workers and employees involved in local marketing is limited. In global
marketing there is increased need of qualified workers and employees and sales
representatives.



In local marketing, consumer relationships with you are strong because the products are sold
locally and face to face. On the other hand, in global market, relationships are weaker and there
is no scope to meet or know a customer personally. Locally you are recognized by your
personality and product but globally your product or brand defines your personality and
reputation.



Profit in local marketing is more certain than global marketing. Price of similar products in a
local market is more or less same and does not vary that much, but in global marketing some
companies might sell their products at a cheap rate to draw mass population. If your
production cost and labor cost is higher than that company, you will not be able to sell your
products in that price or otherwise you will not gain any profit, rather go through loss. Profit in
local market is always within a range but in global markets you will not be able to make an
assumption of your profit before marketing your product. You can get a very little profit to a
very high profit.



Promotion of your product is necessary but not mandatory in local marketing but in global
marketing it is essential because nobody knows anything about you and your products.

Local marketing is less risky and less profitable. Global marketing is riskier but at the same time
much more profitable.

The pricing of the local market normally depends on production cost but pricing of the global
market not only depends on production cost or labor cost but also depends on shipping cost.
Instant shipping is more costly than delayed shipping and will increase the cost of your product.

Capital required for local marketing is far more less than global marketing. To start global
marketing you must have a good capital in your hand. Otherwise you will lag behind in the
competition.
Sales volume is limited and less variable in local marketing. It depends on the demands of the
local community which is constant and easily predictable. But sales volume in international
market can be highly variable. You can be out of stock within an hour of releasing your product
depending on its cost, quality and demands.

				
DOCUMENT INFO
Description: Local marketing and Global marketing are both marketing plans. All renowned and famous companies have both local and global marketing plans. Companies that make progress locally spread their business globally or internationally at a certain point of time.