The TNC Marketing Strategy – Balance of the Global and the Local

• Main Author: Shevchenko Yuliia I.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2020-10-01
• Series: Bìznes Inform
• Subjects: marketing strategy; transnational corporations; global strategies; multinational strategies; marketing mix; product life cycle
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2020-10_0-pages-434_442.pdf
• ISSN: 2222-4459; 2311-116X

Competitiveness of enterprises in the international market of goods and services is one of the main trends in the development of the world economy. In order to preserve and strengthen their competitive advantages, transnational corporations (TNC) are forced to reconsider sometimes conservative approaches to the development and implementation of marketing strategies. The article is aimed at studying the theoretical and practical aspects of the formation of TNC marketing strategies, analyzing the factors that influence the choice and substantiation of these strategies in the context of uncertainty of the global environment. TNC do not use only global or transnational marketing strategy. For the most part, compromise approaches prevail, which can be conventionally defined as standardized adaptation. Reducing the product life cycle (PLC), the use of synchronous expansion of national markets provide TNC leadership on a global scale. Finding the best time to enter foreign markets, rationalizing of marketing strategies and prioritizing the use of marketing mix tools at each stage of the international life cycle is the key to the success of TNC in the competitive struggle for international and national markets. For all TNC, the problem of marketing strategy efficiency remains the main one. Each company experiences a discussion on global and adaptive strategy in different periods of its life cycle. The combination of global thinking and local implementation according to the needs of the market, building a new level of relationships with partner (manufacturer, supplier, consumer, etc.), business processes management and integration of management functions with effective saturation with digital solutions and innovations is not an easy but effective formula for the success of TNC marketing strategies.