Global marketing and advertising development based on cultural specificities in the world

  • Ekaterina Lisitsa State enterprise “Belarusian Railways”
  • Svetlana Pavlovskaya Belarusian State University of Economics
Keywords: global marketing and advertising, global strategy, EPRG system, multinational corporations, China, advantages, advertising, internalization, localization

Abstract

The object of the research: the connection of global marketing and advertising with cultural differences in the world economy. The main aim of the research: on the ground of revealing the global marketing approaches of TNC’s in the world to define main its elements based on cultural differences and to find driving and restraining forces, that affect global integration and global marketing. The methods: general scientific methods of analysis and synthesis, methods of grouping, detailing, generalization and systematization of data, as well as economic and mathematical models. The results: The article contains analysis of main approaches to the development of global marketing and advertising of TNC’s, taking into account the cultural differences in the world economy, EPRG orientations (Ethnocentric, Regiocentric , Polycentric  and Geocentric), and comparative analysis of internationalization and localization marketing strategies. Based on SWOT-analysis of main TNC’s global marketing in the world, the main existing combinations of strategic elements and main directions for national companies are identified. The results can be used to increase the quality of marketing strategies in national companies and could help in the process of internalization, to promote the international trade, competitiveness and national companies’ marketing strategies due to cultural differences. Conclusion: Globalization has led to the strengthening of foreign economic relations between states and the formation of a new global infrastructure. This predetermined the relevance of the creation of national companies’ marketing strategies, based on the global marketing strategies of TNCs with cultural differences of host countries. To take into account the cultural differences of countries’ domestic markets allows to avoid significant losses building an appropriate marketing strategy (for example, an EPRG system), to build an appropriate symbiosis of all the company's resources (including financial, labor, innovation, etc.), which allows to gain new niches in the market or keep competitive advantages. The regional trade agreements, the removal of tariff and non-tariff restrictions in world trade also influence. It allows to identify the driving and restraining key factors affecting global integration and global marketing strategies in modern conditions.

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Author Biographies

Ekaterina Lisitsa, State enterprise “Belarusian Railways”

leading economist, Ph.D. (economics), associate professor of Finance department of “Belarusian State University of Economics”

Svetlana Pavlovskaya, Belarusian State University of Economics

Ph D. (economics), associate professor, Deputy Dean of the Faculty of  Economics and Management УО "Білоруський державний економічний університет"

Published
2019-06-19
How to Cite
Lisitsa, E., & Pavlovskaya, S. (2019). Global marketing and advertising development based on cultural specificities in the world. University Economic Bulletin, (42), 102-110. https://doi.org/10.31470/2306-546X-2019-42-102-110
Section
Economy and Management