The report examines the reasons why some companies adopt similar names for their products in different countries and the circumstances when this may not be favourable. It may be necessary to maintain the same brand name in international markets if there is a need to portray certain good qualities about the mother company, if a company has expanded through organic growth, if the company sells a limited range of products or if the company employs similar technology, if there is a hierarchal organisational structure and if there is a wish to leverage domestic power to other international markets…
The world is becoming increasingly global. Companies are not just focusing on local markets in their service and product provision. They are now looking for new and more promising markets outside their borders and also need to incorporate market forces coming from their global competitors. The corporate world is now characterised by a fast flow of products internationally, advertisement is also done across borders and there is a need to ensure that marketing strategies reflect these changes. (Kapfer, 1997)
Brands are a fundamental part of any company's key strategy. This is because brands give firms an identity. Keller (1998) asserts that brands help to strengthen their customer base and also to take away power from retailers alone. Aaker and Keller (1990) go on to add that a brand helps to solidify ones position in any market. However, there are some key questions that arise when dealing with the issue.
Firms need to ask themselves whether they would like to maintain the same brand name in a different countries and locations. ...
These questions need to be addressed so as to ensure that a given company take advantage of all the opportunities available in the international market.
Reasons why a company should market its products under a global brand name
Some companies may have made quite a name for themselves in the domestic markets. Their products may have such a unique place in their product markets such that they have considerable influence there. It would therefore be advisable to maintain the same brand for such companies when venturing into global markets. Caller (1996) asserts that this will go a long way in ensuring that such companies are able to leverage their power in the domestic market to international markets. A good example of such a company is Coca Cola. It started with a very strong image in its domestic market and decided to maintain its name throughout its market.
Another aspect that could make certain companies stick to the same brand name is the integration of regional markets. For example in Europe, there are numerous countries that are now operating under the same currency and targeting each other. Consequently, it would be advisable to create brand names that can accommodate numerous countries all at once. The European Union has changed the traditional approach of locally centred products. There is a need to incorporate brands for the EU markets. (Featherstone, 1990)
Some companies may be dealing with certain products that have relatively equal levels of demand in the target markets they are dealing with. A good example of such a company is Shell. The Company deals with various petroleum products. These are items that are in high demand in different parts of the world. It was therefore advisable to create the same ...
Cite this document
(“Global Branding Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Retrieved from https://studentshare.net/business/284896-global-branding-essay
(Global Branding Essay Example | Topics and Well Written Essays - 2000 Words)
“Global Branding Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.net/business/284896-global-branding-essay.
Country Branding: Australia Customer Inserts His/Her Name Customer Inserts Grade Course Customer Inserts Tutor’s Name (09, September, 2011) Introduction The past century has seen a rapid increase in trade and financial integration of the world. Countries are now dependent on one another and no country can survive seclusion.
It is aimed towards making products and services unique. This can be carried out through advertising campaigns but with an unswerving theme. Branding is aimed at attracting customers and retaining them. It is not aimed at convincing the customers to choose a company over another, but at getting your forecasts to view the company as the only solution to the problem at hand.
Generally product life cycle consists of four common stages, such as introduction, growth, maturity and decline. This part of the essay will discuss about these four stages of product life cycle. Introduction The introduction stage of product life cycle is characterized by the low sales growth rate of products.
This is noble a conference in the sense that it will not be speaking from the mainstream global branding which is marked by the imprints of high-technology and developments. But, rather, it will be highlighting the possibility of something old, something local being a powerful force to reckon with in the global market.
Brand can establish an attachment and a continuous association in the minds of customers who get equally attached to the brand to the extent of being upset deprived of it.
Its core identity renders it a personality and through it, to the company it represents.
In such instances, theory maintains that marketing strategies and promotion campaigns are virtually ineffectual in the face of consumer resistance. Indeed, there is an abundance of theoretical and empirical research which indicates that a poorly performing product could cause spillover costs to other products that share the same brand name.
Branding is that part of the crucial marketing process, in the absence of which, customers will find it extremely hard to correlate the products they buy, with the companies, which manufacture these products. Branding is an extremely important process. Just as every single human being in this world has a name, companies find it of utmost importance, to give their products a brand name.
What is critical to note however, is the fact that organizations have to decide based upon the hierarchy of the different brand strategies out of which the firm has to actually choose and implement at the global level.
It is also
The main idea is to have a culture that can support a brand and a brand that can provide employees with a culture they can stick with at work. Hofstede looked at culture based on various attributes that define how people
12 Pages(3000 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Global Branding Essay for FREE!