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25 Cards in this Set
- Front
- Back
Global Branding
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*or at least regional branding is a must
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Brand
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a name, term, sign, symbol, or combination of them
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Brand Equity
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*a collection of assests and liablilities tied to the brand name
*brand name awareness *percieved quality *any other associations invoked by the brank name in the customer's mind. *usually varies a great deal from country to country *inter-country gaps in brand equity may be due to the following factors: -History -competitive climate -marketing support -cultural receptivity to brands -product category penetration |
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Issues of Global Branding
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*how do we strike the balance between a global brand that shuns cultural barriers and one which allows for local requirements
*What aspects of the brand policy can be adapted to global use? Which ones should remain flexible? *Which brands are destined to become "global" mega brands? Which ones should be kepts as "local" brands? |
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Global Branding Strategies
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*global branding
*local branding * |
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Global Branding
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*has a consistent identity with consumers across the world.
*the development costs can be spread over large volumes *much more visibility than a local brand *adds to the image of a brand country *able to leverage the country association for the product. *A truly global brand is one that has a consistent identity with consumenrs across the world |
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History
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Brand equity
*brands that have been around for a long time ten to have much more familiarity among consumers than latecomers |
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Competitive climate
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Brand equity
*who is your product competiting with. *is there clutter of competing brands or none at all |
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Marketing support
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Brand equity
*especially in decentralized organizations, the communication strategy used to back up the brand can vary a great deal. *Using push or pull strategies |
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Cultural receptivity to brands
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Brand equity
*driven by risk aversion |
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Product category penetration
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Brand equity
*the salience of the product category in which the brand competes *the higher the product usage, the more solid will be the brand equity |
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Local Branding
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*necessary because the name or a very similar name is already used within the country in another product category
*Ex: INterbrew has a portfolio of 200 local and regional brands across the globe: Mecca Cola from france *cultural barriers also often jusify local branding |
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Global or Local Brands?
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*solo branding, hallmark branding, family branding and extendtion branding
*a frim's global brand is shaped by 3 types of factors: -firm-based drivers -product-market drivers -market dynamics |
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Solo branding
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type of branding
*each brand stands on its own, with a product or brand manager running it *unilever |
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Hallmark branding
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type of branding
*the firm tags one brand, usually the corporate one, to all products and services, and does not use any sub-brands *most banks |
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Family (umbrella) branding
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type of branding
*this is a hierarchy of brands that uses the corporate brand as an authority symbol and then has a number of sub-brands under the corporate badge *sony playstation |
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extension branding
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type of branding
*the idea is to start with one product and then stretch the brand to other categories as far as possible *luxury industries |
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Firm based drivers
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factor as to how a global brand is shaped
*centralized firms are more likey to have this *this local branding strategy is driven by the belief that all retailing is local as shoppers develop a store loyalty to brand sthey have known for decades. *EX unilver is more diverse than nokia |
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Product-market drivers
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factor as to how a global brand is shaped
*nature and scope of the target market *are segmetns global, regional, or localized *the degree of cultural embeddedness *products with strong local preferences are more likely to succeed as local brands. |
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Market dynamics
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factor as to how a global brand is shaped
*the level of economic integration is important to know *is the market infrastructure in terms of media and distribution channels. *customer mobility plays an important role |
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Brand architecture
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*apart from brand structure this is another important cornerstone of the firm's international branding strategy
*it spells out how brand names ought to be used at each level of the organization. *establishes how new brands will be treated |
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brand name changeover strategies
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*fade in/fade out: the global brand name tied to an existing local brand name, then dropped
*co-branding:combine the "old local brand and the global or regional brand in some manner *umbrella branding: have the global brand as an umbrella or endorser brand *transparent forewarning: alerts the consumer about a brand name change *summary axing: the company replaces the old brand name with the global name |
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Country-of-origin (COO) stereotypes
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*for many products, the "made in" label matters a great deal to consumers.
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Country-of-origin (COO) influences on consumers
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*COO effects are not stable
*consumers prefer domestic products over imports *both the country of design and the country of manufacturing/assembly play a role in consumer attraction *COO particularly influences the elderly, less education, and politically conservative; consumer expertise also makes a difference *cultural orientation play a role *consumers are likely to use the origin of a product as a cue when they are unfamiliar with the brand name carried by the product *COO effects depend on the product category |
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Strategies to Cope with COO stereotypes
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*product policy: established brand names will reduce the COO effect. Disguise the coo or envoke acoo.
*pricing: low prices will reduce the COO effect. will attract value-conscious cusomters who are less concerned with the brands COO *distribution: respected channels will reduce the COO effect. *Communication: images can be improved or the brand can be bolstered. can influence the consumer's attituted toward the product. |