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Specifics of Adaptation of Global Brands' Marketing Strategy to the Local Russian Market

Student: Polina Kachalova

Supervisor: Oleg Karasev

Faculty: Faculty of Communications, Media, and Design

Educational Programme: Advertising and Public Relations (Bachelor)

Year of Graduation: 2021

The process of globalization has allowed international companies to enter new markets and expose their business opportunities. In such conditions, competition is growing strongly and the struggle for the consumer is becoming more intense, and it becomes harder for companies to work in local markets. In this regard, the question arises what should be the marketing strategy of a global brand, whether global corporations should standardize their approach to working with local markets, or whether it is necessary to adapt brands to a specific situation in a particular market. Of course, it is important for international companies to use resources efficiently and allocate the budget for marketing initiatives correctly in order to get maximum profit. The first works on the topic of adapting marketing strategies were written in the 1960s, despite this, the topic is still relevant. As international trade continues to develop at a rapid pace, online trading has been added to everything else, and modern technologies are driving progress. That is why the topic certainly needs further study. And due to the fact that these processes also affect Russia, it will be even more interesting to study the topic of adapting the strategy in relation to the Russian market. Within the framework of this work, the author will be able to identify a number of recommendations on the choice of the approach of adaptation or standardization of the marketing strategy for brand managers of international companies, which will be useful if they want to bring a new brand to the Russian market.

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