Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/25

Click to flip

25 Cards in this Set

  • Front
  • Back
Global Branding
*or at least regional branding is a must
Brand
a name, term, sign, symbol, or combination of them
Brand Equity
*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
Issues of Global Branding
*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?
Global Branding Strategies
*global branding
*local branding
*
Global Branding
*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
History
Brand equity
*brands that have been around for a long time ten to have much more familiarity among consumers than latecomers
Competitive climate
Brand equity
*who is your product competiting with.
*is there clutter of competing brands or none at all
Marketing support
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
Cultural receptivity to brands
Brand equity
*driven by risk aversion
Product category penetration
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
Local Branding
*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
Global or Local Brands?
*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
Solo branding
type of branding
*each brand stands on its own, with a product or brand manager running it
*unilever
Hallmark branding
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
Family (umbrella) branding
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
extension branding
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
Firm based drivers
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
Product-market drivers
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.
Market dynamics
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
Brand architecture
*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
brand name changeover strategies
*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
Country-of-origin (COO) stereotypes
*for many products, the "made in" label matters a great deal to consumers.
Country-of-origin (COO) influences on consumers
*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
Strategies to Cope with COO stereotypes
*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.