MULTIPOLAR DYNAMICS OF THE GLOBAL MARKET: STRATEGIC CHALLENGES AND THE ADAPTATION OF NEW MARKETING MODELS

Faculty of Business Economics Bijeljina, University of East Sarajevo, Republic of Srpska, Bosnia and Herzegovina
Bosnia and Herzegovina

Faculty of Business Economics Bijeljina, University of East Sarajevo, Republic of Srpska, Bosnia and Herzegovina
Bosnia and Herzegovina


Abstract

Multipolarity in the global economic system is reshaping the marketing strategies of multinational corporations, as economic power is no longer centralized in a single locus but distributed among multiple global actors. Striving to maintain competitive advantage, market leaders face the challenge of balancing global standardization with local adaptation - a dynamic that will drastically redefine their marketing initiatives and affect the allocation of their resources. This paper examines the impact of sequential and simultaneous approaches to adaptation processes in international marketing, with a particular focus on the degree of standardization, which largely depends on the similarities between home and target markets. Key operational decision-making aspects are explored, including cultural research and segmentation, product adaptation, advertising and promotional activities, distribution channel optimization, and modifications to the marketing mix within international business frameworks. Additionally, the study investigates variations in digital marketing approaches between the European Union and the United States, aiming to uncover differences in the implementation of marketing strategies. In developed markets, global unification dominates while respecting regional nuances, whereas emerging markets prioritize localization and cultural integration. The dynamic capabilities of multinational corporations, encompassing both sequential and structural forms of ambidexterity, enable the exploration of new opportunities alongside the simultaneous exploitation of existing resources an doperative processes.

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