Definition of Multidomestic Strategy
Multidomestic strategy is a method that companies adopt to appeal to the local market with the Marketing and promotional efforts rather than a generic international Marketing approach. The idea behind multidomestic strategy is to learn the culture, demographics, and other important local dynamics and then promoting such products that appeal and fulfill that local market needs. With this strategy, the company’s Promotional campaigns and product offerings make more sense to the market in which the company is operating.
Example of Multidomestic Strategy:
McDonald’s famous “Think Global Act Local” marketing strategy is a classic example of multidomestic strategy. With this approach, McDonald’s focuses on the local market and offers products that are demographically and culturally acceptable by the local market while expanding its business in more than 115 countries as a global brand. In India McDonald's had to offer a Potato patty burger in order to meet the huge local demand of a large population of vegetarian consumers.