Global Brand Strategy

Abstract:

There are many companies, which have enhanced its brand image by embracing a global brand strategy. However, there are certain aspects, which need to be attended to in the process. The article below highlights the various facets of the same.

Reports obtained from studies reveal that markets for consumer goods in West are facing stagnation. However, about 65% of global population dwells in regions where a growth of 5% or more is registered every year. Even the living standards have escalated over the past couple of years, either catching up with United States of America and Western parts of Europe or far exceeding them. In other words, it can be said that prospective buyers prevail more outside the United States and Western parts of Europe than they do so within US and Western European regions. Hence, it is wise enough to tap the consumer markets outside.

There are many advantages of adopting a global brand strategy. The following act as incentives for taking a brand image global.

The brand image can be maintained in a consistent manner.
Maintaining economies of scale related to distribution as well as production.
Marketing costs are less.
The brand can be with ease and promptness
Facilitate competition from international bidders/competitors.
With the advent of the Internet, international media can be reached.

Constants of Global Branding strategy:

Even if the brand is taken into the international arena there are few aspects, which are required to be constant.

Essence of the brand
The logo of the brand or the brand identity
Corporate branding

Variables of global brand strategy:

Every country has its own norms and features. No two country can have the same features. Under such circumstances when a brand is given global recognition, the following aspects may differ from one nation to nation. They can be referred to as variables of global brand strategy. They are:

Services as well as products offered by a brand
The slogan of the brand.
Brand positions
Marketing mixes
Names of the products
Features of the products

The above aspects may differ depending on the following:

Linguistic variations
Differing communication style
Differing patterns of consumption
Differing conditions of the market as well as competitive sets
Differences existing in brand development as well as its categorization.
Different regulations prevailing in specific regions
Differing marketing approaches
Differing cultures

In fact there are many advantages of embracing a global brand strategy, which may prove to be an effective means of making ones brand reach out to the world and making a place for itself in the international arena.