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Global Branding - Assignment Example

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Global Branding

Additionally, global branding creates a new image for a company could be used to increase its market share. Highly recognized brands have certain common features that define them and prevail amongst them (Bloomberg, 2006). Most of these features denote the prevailing marketing strategy that determines successful global brands. This is because branding is a marketing gimmick that basically characterizes the quintessential aspects of marketing and strategy. From my experience while visiting inter-brand and business week websites where the top global brands report is evaluated, these elements include reliability, aesthetic value, proper packaging, warranty services and sustainability among others. In essence, consumers prefer global brands for an assortment of reasons. Originally, global branding has a lot of connotations some of which are real, and others perceived. Therefore, consumers associated global brands with aspects of quality, reliability, superiority, convenience and safety (Interbrand, 2012). As a result, global branding has a lot of sway on the buying decisions of consumers. Practically, global branding has a high bearing on the quality and suitability of products and services more so to the usage by consumers. First and foremost are the high standards associated with the global business through which global brands must meet certain requirements to survive in the market. Consumers value global brands due to the aspect of superiority in quality and reliability. Inter-brand methodology can be quite constructive in diversifying the essence of products and services and could be a good recipe for organizational success (Reinold, 2010). Though, in essence, inter brand methodology represents the confusion of parameters where the organization fails to identify its true identity in the market and resorts to inter brand methodology for opportunism purposes. Establishing global brands is a step-by-step progression that calls for time, tact and long-term perspective. Therefore, managers ought to first ascertain their respective concepts of marketing, as well as its long-term marketing objectives. Subsequently, managers must embrace competition in the global market and boost the quality quotient of their respective services and products. Such measures will guarantee successful international brands. Question 2 a) The emergence of a new breed of multinational from merging countries is well-documented in business reports, books and literature and points towards a paradigm shift with regard to the global business (Aguilar, 2006). In essence, the previous years have witnessed an exponential growth in the participation of emerging economies in the international trade more so in the ownership of international business. There is a big divergence between the traditional multinational corporations like IBM and Nestle among others and these emerging multinationals. These differences emanate from the strategy used in developing, managing and advancing these corporations. As a point of fact, emerging countries are applying particularly unique strategies of entering and prevailing in the global business environment. This poses a huge challenge to the existing multinationals. b) The new global challengers are using different approaches in entering the international market. The two most prevalent methods are the organic growth and through mergers and acquisitions. Each strategy has its own advantages and disadvantages (Casanova, 2009). For ...Show more

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Running head: Marketing Marketing Insert Name Insert Grade Course Insert 25 July 2012 Question 1 Global branding is beneficial to firms in several ways; primarily global branding boost the reputation of the firm in the market making it attract more customers who are enticed by its global status…
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