Global Branding In The 21st Century - Essay Example

Running head: GLOBAL BRANDING IN THE 21ST CENTURY Global Branding In The 21st Century of Global BrandingIn The 21st CenturyThe conference global branding in the new millennium is very important for marketing executives since it covers the following concepts. In looking at a huge number of websites that have all of a sudden surfaced in all sorts of commerce, it appears that many of the numerous cyberspace entrepreneurs feel that the Internet is simply another means of communication that requires little, if any, variation from the traditional means of promoting and selling products and services.

They have not yet grasped the tremendous potential of promoting their products and services on the Internet to a carefully targeted audience. In this millennium technology has given people many more options than they had in the past and created a customer democracy. Global branding managers increasingly need to find ways to speak to customers individually, or in smaller groups.Global brand managers are able to communicate with their customers in ways never before possible. The opportunities of interfacing with individuals and smaller, carefully targeted interest groups, and the ability to reach them whenever and wherever they may be at any given moment, are unlimited.

Global branding managers are exploring all this with a variety of approaches, making the Internet a flexible and ever-changing medium. Even branding managers, whose products cannot be obtained directly via the Internet, such as fast-food restaurants, use the Internet to communicate a favourable personality and the value of their services to create goodwill among their customers. In the midst of all this, brand presence emerges as an important means of continuity and interfacing with other communication media.

If not, new brands and brand marks, that surface almost daily on the Internet, can become extinct even before being recognized and accepted by the customer. The time span for creating new brands and brand marks has been shortened substantially through the availability of computers and a wide variety of computer software. Many creators of these brands and brand marks, by being enamoured with technology, are ignoring the fact that technology changes so quickly that brands which have not been developed and maintained with thoughtfulness, foresight and in context with their target audience will disappear as quickly as they are born.

Hence, the blessings of information technology can, if used frivolously, become their creators' demise. Global branding managers who will surface as leaders in the e-commerce environment will be those who have the wisdom and courage to dimensionalise their branding by combining online and offline communication media. Following issues will be examined in conference global brand management in the 21st century:- Build groups of customers who can gather and talk about information about brands - Provide customers control of pricing and buying as never before - Grow to be global, with no the need for international shops and offices - Save advertising costs, through being capable to target exact audiences - Gather valuable customer information through online research - Provide the most effective combination of online and offline marketing - Develop brands and brand strategies particularly for online business - Protect against the online exploitation of brand names By taking a global brand focused approach of conversing issues and opportunities encountered by global branding managers in the retail and service industries, I will benefit from the visions of business leaders who will candidly discuss their views and approaches to global branding in the new millennium.