What is Multiregional Marketing?

Multiregional marketing: Given the diseconomies of scale of individualized marketing strategies, each tailored to a specific local environment, companies have begun to emphasize strategies for larger regions. These regional strategies encompass a number of markets, such as Euro-strategies for Western Europe, and have come about as a result of regional economic and political integration. Such integration is apparent in North America, where the United States and Canada have signed a far-reaching trade pact and the inclusion of Mexico is discussed, or in the Pacific Rim, where a number of countries have made great progress in their economic development. The development has been faster than in Europe through the impetus of Europe 1992, a series of political and economic measures aimed at total integration of the European Community. Companies considering regional strategies look to tie together operations in one region, rather than around the globe, the aim being increased efficiency. Many firms are presently working on such solutions, moving from many multi domestic strategies in Europe toward Pan-European strategies.