When you are addressing how to take
your marketing strategy worldwide, there will be the temptation to use a cookie
cutter approach; this temptation must be squelched. As a student in integrated marketing at
Northwestern University, I have seen how understanding a nation’s cultural
values will allow your strategy to truly flourish.
A Look At
Marketing In Brazil
Finding the
right product for a unique marketplace means having to invest far less in your
offering, as the product will match up with the wants and needs of your target
market. For instance, open a new page to
look at Metro’s article on this Brazilian offering: http://bit.ly/1mYdoSi. Outsiders see a
ridiculous luxury item. Brazilians see a
chance to cherish their heritage in their beautiful game. The upcoming 2014 World Cup will sell a
unique souvenir: Pele’s hair crystallized into diamond form. The soccer superstar’s hair is taken and
transformed into 1,283 diamonds (equaling his goal tally) and will be on sale
for £4,500.
Brazil's spending on Consumption Shows Great Promise
Coca-Cola
shows a second example of understanding an international market, more
specifically the feelings of said market.
Coca-Cola plans on scaling back its upbeat marketing campaign leading up
to the World Cup. Coca-Cola realizes
that if there is a discord between their campaign and the overall sentiment of
Brazil, their company image will suffer.
Take a second to look at Fox’s article on this strategy in a new page: http://fxn.ws/1iuunpI. As a result, Coca-Cola moves stride in stride
with their target market.
So,
marketing internationally must align the values of the market with the
offerings of the company. When looking
at how to move forward, a CMO and marketing department must work to fulfill
these points:
1.
Market Towards Specific Markets: Like Pele's diamonds, if you find a way to focus on what your target market desires, the selling point becomes much easier
2.
Capitalize on Current Events: Partnering your company with major events in your market is a great way to permeate the market
3.
Sync marketing strategy with market emotions: Consumers want to see that the company they are buying from understands them. Take a page out of Coca-Cola's book and partner your company's status with the state of your target market
Seamus Naughton is an
Economics and Integrated Marketing Communications student at Northwestern
University. He is interested in both
business internationally and more specifically in the Lusophone world. He studies the Portuguese language and
operates a twitter feed on the topic.
Follow him at @Lusophonenews on Twitter.
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