Final answer:
When deciding whether to promote global or local brands in different markets, multinational corporations should consider cultural preferences, competition, and marketing strategy.
Step-by-step explanation:
When deciding whether to promote global or local brands in different markets, multinational corporations should consider several factors. One important factor is the cultural preferences and tastes of consumers in each market. If there are strong local brands that are already popular among consumers, it may be more effective to promote those brands in order to capitalize on existing consumer loyalty. On the other hand, if there is a global brand that is well-known and trusted by consumers worldwide, it may make sense to promote that brand consistently across different markets.
Another factor to consider is the level of competition in each market. If there are many local brands competing for market share, it may be advantageous for the multinational corporation to promote a global brand that can leverage its global scale and resources to outcompete local brands. However, if there is less competition and local brands have a strong presence and customer base, it may be more effective to promote local brands to better resonate with consumers and differentiate from competitors.
Lastly, the marketing strategy and resources available to the multinational corporation should also be taken into account. Promoting global brands requires a significant investment in marketing campaigns that can maintain a consistent brand image and message across different markets. On the other hand, promoting local brands may require more tailored marketing efforts that take into account the specific needs and preferences of each market.