Global Branding Strategies PDF

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The branding strategies of an organization in the global market are explained here....

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Global Branding Strategies

MBA BUS5112 Marketing Management

2 Abstract This world has become a global village due to different new technologies, logistics, transportation, media. It has become easier to collect information about the product and services of the brands. Global branding strategies, its benefits, challenges are the focal point to consider for a business if they want to cross traditional border or geographical boundaries. Keywords: Global branding, benefits, challenges

3 Global Branding Strategies The term Global village/ Society is in use today. A person can get information about outer space sitting in a room in front of the computer. For a business to have market access and introduce their product and services is possible through different technologies, media, logistics, and so on. Any company that needs a long-term plan to establish a lucrative brand for achieving a definite goal is known as a Branding strategy (Principles of marketing, 2015). Global brands refer to those business and their products and services with recognition all around the world. Typically, Coca-Cola, McDonald’s, Volkswagen, Mercedes Benz, Facebook, Apple, Amazon, Ray-ban limited to some examples of global brands. These kinds of brands are dominant in their domestic market operation wise they hold shares and several local markets in multiple countries (Templafy, 2019). Exploring through the market is not an easy task as the brand has to travel across different cultures, languages, and values and perceptions of local people. The identity of a global brand includes values, voice, purpose, and all visual design elements (Templafy, 2019). The key to their success is consistency and communication (Templafy, 2019). Benefits from Strong Brand A strong brand is a foundation for the growth of a business. It is all about consistency and identifiable business purpose of delivering goods and services with meaning (Fischler, n.d.). Building a strong and well-known brand need different strategies for conceiving it, ranging from brand discovery, research about competitors, audiences to target, mission, and vision of the brand and so on (Gregory, 2020). Some of the benefits of strong brands are better customer recognition, higher customer loyalty, word of mouth, brand extension, enhanced trust, and easy purchase, brand differentiation in a competitive market (Fischler, n.d.).

Benefits and Challenges of Global Branding Globalization is a term that implies businesses, nations, people interconnected with the development of new technologies, logistics, and transportation, the Internet, social media, and

4 global finance. It is feasible for the people to cross borders of culture and traditions, beliefs, values, attitude, perceptions, and so on (Lumen Learning, n.d.). Introducing new brands across traditional and cultural boundaries can be beneficial and simultaneously challenge as well. The benefit of the globalizing brand is alleviating the effects of the company’s product and services, create competitive advantages, growth in consumer awareness (Teeboom, 2019). Challenges are breaking through cultural barriers, a spectrum of technology adoption, team disparity, legal hindrances, economies, the welfare of the workers, environmental challenges, and so on (Certona, 2019). In my opinion, global branding challenges are to adapt their product and services according to the culture of that region or country. As the concept of a campaign may function in one territory, it would not work into another. Access to the desired customer can be difficult. It is not easy to understand the wants and needs of local people as there is a region in the world where different media are not available. Many people in third world countries are underprivileged, unknown about technologies. For example, marketing Apple computers in a backward region where people struggle to feed two meals a day would not be a good idea. The political situation, legal formalities, geography, cultural aspects, the feasibility of the technology and its use, labor union, and so on could be of challenges.

After going through different topics in this unit, the first question that arose in my mind was, what is the difference between marketing and branding. And my attention was caught by a topic of branding strategies. I got an opportunity to learn as a whole about a brand, branding strategies, advantages, and challenges, the influence of culture and tradition, the geographical region on branding, and so on.

5 References Templafy. (2019, November). How to build and organize a global brand strategy. Book your free Templafy demo. https://info.templafy.com/blog/how-to-build-and-organize-a-globalbrand-strategy Principles of marketing. (2015, October 27). 6.4 branding, labeling, and packaging – Principles of marketing. Open Textbooks · University of Minnesota Libraries. https://open.lib.umn.edu/principlesmarketing/chapter/6-4-branding-labelingand-packaging/ Millennium Agency. (2020, March 9). 5 major benefits of a strong brand. https://mill.agency/creative/5-major-benefits-strong-brand/ Gregory, S. (2020, June 5). 11 simple steps for a successful brand building process. FreshSparks. https://freshsparks.com/successful-brand-building-process/ Fischler, A. (n.d.). 7 major benefits of a strong brand. The All-In-One Brand Management Software | Frontify. https://www.frontify.com/en/blog/7-major-benefits-of-a-strong-brand/ Certona. (2019, March 20). 4 barriers to your brand’s global reach. https://www.certona.com/4barriers-to-your-brand-s-global-reach/ Lumen Learning. (n.d.). Globalization benefits and challenges | Principles of marketing [Deprecated]. Lumen Learning – Simple Book Production. https://courses.lumenlearning.com/marketing-spring2016/chapter/readingglobalization-benefits-and-challenges/ Teeboom, L. (2019, February 19). The advantages of global branding and advertising. Small Business - Chron.com. https://smallbusiness.chron.com/advantages-global-brandingadvertising-18190.html...