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GlobalBranding. Identify and evaluate the key reasons for a company to market its products under a global brand name. Explain, with examples, the circumstances, if any, under which you recommend using brand names in different countries - Essay Example

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GlobalBranding. Identify and evaluate the key reasons for a company to market its products under a global brand name. Explain, with examples, the circumstances, if any, under which you recommend using brand names in different countries

Following a definition of the report's key terms, a review of brand management literature, this report will identify those challenges and forward a set of recommendations for their amelioration.
Despite popular familiarity with the concepts of brand and global brand, it is necessary to provide definitions of either. These definitions will serve the purpose of clarifying the distinction between the two, of highlighting the various components inherent in the constructs and of outlining the purpose of branding.
a distinguishable name and /or symbol (such as logo, trademark, or package design) intended to identify the goods or services of either one seller or a group of sellers, and to differentiate those goods or services from those of competitors.
As indicated in this definition and as confirmed by Kohli and Thakor (1997), brands have two primary purposes. These are the identification of sellers and differentiation from competitors. These two functions are very important since consumers are currently inundated with products which are hardly distinguishable, one from the other. For example, while there may be a clear distinction between KFC and McDonald's, there is hardly such a distinction between McDonald's and Burger King or Hardy's. Brands are important because they impose distinction upon products.
As quite clearly indicated in the p...
Brand marketing ensures consumer familiarity with the brand in question and, if successful, incites positive consumer perceptions of the brand in question (Grace and O'Cass, 2002; Steenkamp et al., 2003; Escales and Bettman, 2003; Escales, 2004).
In light of the preceding definition and articulation of the functions of branding, it is evident that significant marketing resources enter into the branding process. It is in consideration of the resources which entered into the branding process and consumer familiarity with the brand, that one would tentatively suggest that products should be marketed under a brand.
2.2 Global Brands
While certain brands are generally considered as good examples of the global brand, such as Coca-Cola and McDonalds, there are no clearly and formally agreed upon definitions and characteristics of the global brand. Instead, many different definitions of the global brand are provided and used. For example, Aaker and Joachimsthaler (2000, p. 306) define global brands as "brands with a high degree of similarity across countries with respect to brand identity, position, advertising strategy, personality, product, packaging, and look and feel." According to Hankins and Cowking (1996, p. 3), the global brand, "offers consumers across the world, a consistent (i.e., standardized) proposition and the same product formation."
Several definitions of the global brand suggest that while scholars consider the term "global brand" to imply a standardised product/branding approach, practitioners are more interested in global availability of the brand/product (Khermouch 2002). More problematic is that there are some contradictions ...Show more

Summary

In an age of globalisation, global brands have penetrated into practically every corner of the earth, every country and neighbourhood within. McDonald's, KFC and Pizza Hut, to name but three examples, may be described as home-grown American brands, founded upon American lifestyles and national food tastes, which have internationalised and achieved a transnational identity…
Author : cormierkristina
GlobalBranding. Identify and evaluate the key reasons for a company to market its products under a global brand name. Explain, with examples, the circumstances, if any, under which you recommend using brand names in different countries essay example
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