Mirage of Global Markets: How Globalizing Companies Can Succeed as Markets Localize, The

Chapter 1. Manage Globally, Market Locally

This chapter has two objectives. First, it outlines the central thesis of this book—that while companies are growing larger, markets are growing smaller. The thesis puts forward the idea that what companies should pursue is global marketing management, but at a local level rather than with mass marketing programs. Second, it describes what is different about international marketing, exploring the international marketing management process and subsequently identifying key managerial guidelines for managing this tension between opposing forces.

It is a matter of common observation both that the world’s largest companies are growing in size, as measured by sales revenues rather than their increasingly volatile ...