One common approach that companies take in a global industry is cost leadership(Aldania & Niswah, 2021). In this strategy, the company aims to become a low-cost producer in its industry. By keeping costs low, companies can offer lower prices to customers while still maintaining profits(Sunarsi et al., 2021). This approach requires companies to have efficient operations, strong supply chain management, and focus on reducing costs continuously(Devi Rahma Dani, 2022)Companies that have successfully implemented a cost leadership strategy according toSuaibatul Aslamiyah & Vembri Aulia Rahmi (2022).including Walmart, Southwest Airlines, and Amazon.
According to(Anisa Raihan Fadhilah Fadhilah Zain et al., 2022)To implement a cost leadership strategy, companies must focus on cost efficiency in all aspects of their business operations. For example, a company might look for ways to reduce production costs, procure raw materials, distribute products, or reduce overhead costs. Not only that, companies also need to pay attention to the quality of the products or services produced(Alfarabi Rachma Hazryas et al., 2022)Even though production costs must be lower than competitors, product or service quality must be maintained or even improved so that consumers are satisfied with the products offered.
•Strategy difference
Another approach that companies can take is differentiation. In this strategy, the company seeks to differentiate its product or service from its competitors in a way that is meaningful to customers(Dany Natakusuma, 2021).By offering unique features or benefits, companies can charge higher prices and build customer loyalty(Nanda Annisa et al., 2021). Exemplified in the book writtenDr. Daduk Merdika Mansur, (2023) bprominent companies include Apple, Nike, and Tesla.
The main advantage of the differentiation strategy is that the company can attract more loyal customers and more easily avoid direct competition from competitors(Sopiah & Etta Mamang Sangadj, 2022). In the long run, this strategy can help companies maintain a larger market share and generate higher profits(Ernawati Ernawati et al., 2021)However, the difference strategy also has risks.Â
The costs of developing a differentiated product or service can be prohibitive, and if a company cannot differentiate its products well enough, this strategy can fail.(Mahrus Ali Mufadhol, 2021)Some examples of companies implementing a differentiation strategy by web blog(sold, 2021) is Apple with its innovative products and attractive designs, and Starbucks compliedMoh. Ainurrofiqin, 2021)with a unique customer experience and better customer service.
•Innovation Strategy
Innovation is another way that companies in global industries can gain a competitive advantage(Muhammad Haviel Nurachman, 2021)By introducing a new product, service or business model, a company can disrupt its industry and create new market opportunities(Dr. Apri Winge Adindo, 2021). Innovation requires companies to invest in research and development, cultivate a culture of creativity and experimentation, and be willing to take risks. Companies known for their innovation include Google, Uber, and Netflix(Zenal Aripin, 2021).
C. Comparing and contrasting a country's marketing strategy using a global marketing strategy (GSM).
Global marketing involves a different approach but with the same functions as domestic marketing, ranging from marketing research, demand analysis and policy development to overall control of marketing efforts.(Dr. M. AnFirmansyah, 2017)The introduction of the distribution of this approach must be able to be carried out correctly so that it is in accordance with the capacity of the strategy carried out.
 On the other hand, a global marketing strategy (GMS) is a marketing tactic that seeks to standardize marketing activities across different countries and markets, focuses on economies of scale, maximizes global brand awareness, and leverages global synergies.(Hollensen, 2019)In a standardized marketing strategy, more emphasis is placed on global markets with homogeneous customer characteristics (consumer homogeneity). This strategy emphasizes a company's ability to market the same products and services worldwide using identical strategies at lower costs and higher margins.
(Simbolon, 2013)Global marketing strategy combines standardized and customized elements to create effective marketing messages for international markets with the aim of achieving efficiency, consistency and flexibility in the use of marketing resources whereas country marketing strategy adapts product, price, promotion and distribution to different local conditions and culture. in each country or region.(Richter, 2012)
In this case the level and method of controlling marketing communications in each country also reflects local economic, cultural and political conditions, so that the balance between voluntary controls through self-regulation and marketing controls has a major influence on the level of marketing outreach that will be developed in the global market in the future.(Rika Promalessy, 2021b)The characteristics described will have a difference and can lead to the emergence of different marketing strategies between the two, both the focus and the challenges faced.
