Think 'glocally' for marketing success
Global companies often follow the same generalised trend sets throughout the year, no matter where they find themselves in the world.
The trick however is adapting these widespread trends so that they apply to customers in a specific local market, this process is known now as ‘glocalisation’.
In order to be effective and appeal to consumers, companies must make the most of these global trends by applying them in a meaningful and customised way.
In its recent webinar ‘The Global Brain’, market insight specialist Trend Watching highlighted some global trends for 2016.
One trend focus is that of ‘Sympathetic pricing’ which, if done effectively, can create an appealing human image for global companies by addressing local challenges or ‘pain points’ with discounts. Companies can expect to improve their brand image by for example, an optician offering older consumers more discount off their prescription glasses, or helping in times of need, such as offering discounted flights to those helping combat a refugee crisis.
Another trend is all about creating a ‘new normal’, which looks at stepping away from typical stereotypes and empowering diversity. This can be achieved by adapting to local contexts, which challenge social norms and traditions, in order to attract and appeal to consumers. A great example of this is supporting ‘ungendered fashion’, which celebrates diversity.
The third trend ‘multi-task madness’ addresses the multi-function of objects, when ‘everyday objects are imbedded with innovative new functions’. This trend however differs depending on the market.
In emerging markets, necessity leads to innovation. The multifunctional properties here are likely to aid health or local issues. For example, in Papa New Guinea, an innovative cardboard packaging for beer included mosquito repellent to help fight the epidemic in the region. Alternatively, in Sri Lanka in order to focus the population on personal hygiene, bus tickets that turn into flannels to wash hands after use were invented.
This trend changes slightly when it comes to affluent markets. Here the innovation is linked to status rather than necessity, take the 15 feature travel jacket from BauBaux, which includes a built-in Neck Pillow, Eye Mask, Gloves, Earphone Holders and Drink Pocket, most of which are far from essential.
If companies can apply this to specific local needs of a community, this can be very powerful in terms of brand appreciation.
A consumer in Spain may have a different idea of what they see as convenient or appealing to that of a consumer in India. It is therefore very important that companies try to avoid a generalised mass-market approach where possible and mould their marketing according to each country’s and cultures’ needs and values in order to attract consumers effectively.