Worldwide Marketing Strategy
When we use the word “Worldwide” it can mean many different things. At its most basic, it is a synonym for worldwide economy. It can also mean worldwide significance, the idea that the whole world is connected or interdependent. Most commonly however, worldwide means encompassing the entire globe-all of humanity as a whole. International is usually confined to having or containing to do with a specific country while worldwide encompasses the entire world, including all human civilizations, states, and peoples.
The idea that the entire world is connected is the broadest sense of the term worldwide. Simply put, it means everything encompassing human interaction and civilization in some form or another. A few broad terms that are often used to define the scope of worldwide meaning are inclusive, extending throughout, worldwide, and universal. Exclusivity describes a situation in which something is exclusive to a particular place or culture.
Extending globally, on the other hand, describes the interconnectedness of the global market. In business terms, this refers to the ability of a product, a company, or an industry to be available to people in a wide variety of locations at the same time. Global connectivity therefore describes the ability of objects, products, and services to be bought and sold virtually, anywhere in the world. Global extendability refers to the capacity of a global market to extend throughout the world. This aspect of the global market is particularly important today as increased trade, technology, and travel have made the world a much larger place.
Universal, on the other hand, refers to the ability of anything to be accepted and used by people regardless of their nationality, race, color, or religion. It goes beyond mere connectivity. Universal acceptance would include the general acceptance of the language, culture, and product of any nation. In addition, it would extend to the entire world. In essence, universal marketing means “the right for anyone to use or access anything that anyone else has.”
The ultimate goal of worldwide marketing is to reach the largest market possible. In order to do so, you must expand your marketing into multiple countries simultaneously. For example, if you were a clothing manufacturer in the United States, you would not want to stop production in Canada due to tax barriers between the two countries. Likewise, a food manufacturer in the United Kingdom and a manufacturer in China would not find a compatible distribution channel. The best way to reach all markets simultaneously is to sell your products over the Internet.
As you can see, a worldwide marketing strategy has many variations. In general, however, the overall goal is to increase the market share for a company in any corner of the globe. Worldwide market definition constrains the parameters of how and where you can market to a global market. It also dictates the parameters of the kind of products you can produce and distribute to the global market. As a result, your strategy should be flexible enough to incorporate various marketing approaches and marketing platforms.