Introduction to Global Brand
Many multinational brands have become an important part of consumer culture all around the world. That is because they have a very wide scale, and they are the key players in making corporate profits. As for the marketer, global brands bring are a big responsibility especially when establishing how much global you want to be.
The exposure of your strategy in local brand-building internationally is one difficulty that growth brings. There might also be internal issues that will arise. For instance, how can the corporations handle local and global mix marketing? Is local marketing gone? Is it possible for single department centralized marketing functions to take over local marketing?
You will know the answers to your own questions as you read more.
Global branding is about using standard marketing and advertising strategies that apply globally. Basically, it is a way of designing global marketing and advertising strategies that aim to develop a world-renowned product or service. The country, region, or continent where it was marketed does not matter.
Global brands have worldwide recognition of their products and services. Companies that choose global brands have similar or the same marketing strategy in promoting their brand no matter where it is offered. This helps companies to make sure that the values of the brand are consistently presented in any market.
Companies get an advantage from global marketing because of economies of scale. The reason is that companies use the same advertising strategy worldwide by using celebrities, images, and advertising firms. Companies might have to opt for local advertising firms to help them translate messages in different languages so that all countries can understand. If not, the brand, message, and personalities to promote it stay the same.
Why Consumers Choose Both
Consumers choose local and global brands because when they are asked about the three main deciding factors, their response patterns are similar. Their factors emphasized in the surveys that were conducted. Globally and locally, they search for better prices and value. They also base it on the positive experience they had with these brands. If they are buying food, the ingredients, processing, and benefits are all considered. Consumers also choose it based on a promotion or sale of the brand.
The only notable difference between local and global brands is pride, which is not surprising because some consumers choose local because of national pride.
- Almost six out of 10 global consumers say that they buy local brands because they want to support local businesses.
- When they shop online, global respondents have said that they opt for global brands if they need durable electronic products. They choose local brands for consumer products.
Global Brand and the World Wide Web
The internet is growing, which is why global branding has an easier time accomplishing itself compared to the previous decades. Presenting certain images for global brands is now more popular because of that. Global brands use the same marketing and advertising strategies, and the look and feel of their country compared to another. Some famous global brands are Google, Amazon, Microsoft, Samsung, Apple, and Disney.
These brands exemplify where the parent companies are successful in using global strategies for marketing. They have also standardized global marketing for global branding. Their products, services, or brands remain the same no matter which country they are sold. Whether it is China, Russia, Japan, Europe, and many other countries or worldwide regions.
What You Must Know
- The categories with the most common consumer needs are founded on industrial standards. Think of computers, airplanes, electronic equipment or disposable batteries. In certain categories, expectations of consumers are based on the adherence to the industry standards, and innovation levels rather than just going with feelings.
In general, there is a simple rule to this: The more the consumer uses the category, the higher the demand for global marketing.
- Many consumers choose global brands for their personal care and beauty products. Global brands are preferred when it comes to shampoo, razors, cosmetics, conditioner, and deodorant. Consumers also choose global brands for hand and body soap, toothpaste, and lotions.
Global brands also give their scale and expertise, development and research capabilities leverage. They also have strong brand equity that provides high-quality and innovative products to local markets. In other markets, there is a limited number of local brands for non-edible products which is why a lot of consumers gravitate to global brands.
- You must consider how much investment you put into building your brand globally every year. There is a certain way of how to make numbers work. Get the total to determine how much you spent on brand building yearly. This also includes consumer-facing brand investments, eCommerce platforms, above the line, in-store, etc. You must include everything except for trade-focused spending because this transaction is commercial and does not directly build equity.
Your Customers Benefit from Marketing:
Whether you are a local or global brand, consumers depend on your brand advertising in several ways:
- Shopping consumes less time because they can easily identify branded products.
- The branded products’ quality is a lot better, or many consumers believe it is better in general
- Companies fix the pieces of branded products on their own and they do not make frequent changes
- Companies that own branded products take responsibility for the usefulness and quality of what they offer
- Consumers know who to talk to if they have any questions or concerns regarding products
Global Branding is Helpful to the Bottom Line
Even if there are many advantages for consumers, you can also consider brand advertising when it comes to marketing. These are the same advantages that consumers have because of global branding. They also help companies to market products because they have more bottom line. Brand advertising and loyalty allow companies to charge higher because consumers want to pay more for products they can depend on in terms of high quality, and consistency.
Of course, customers benefit from all types of brand advertising which includes global branding. That is because they know they are buying the same product no matter where in the world they are. A frosty from Wendy’s will taste the same whether they are in Japan, Spain, Africa, or China.
A Samsung Galaxy S20 Ultra is the same whether they purchase it in Korea, the USA, or London.
Purpose of Global Brand Management
It is to control the global direction of the brand, and this is made possible by clearly defining the core values of the brand. They also make sure to communicate it well. The communication of this depends on devising and consistently applying a certain style, image, and tone.
Purpose of Local Brand Management
Local brand management refines the communication of its core values. They adjust their execution so they can meaningfully communicate it to the locals. If there is a local event taking place, the task of the local brand builder is to make sure the brand has leverage on it. The building of a local brand relies on local trend acute awareness. This is all about the leverage of knowledge that cannot be accessed by the international marketing department or they do not have sympathy for it.
You already know what makes them both different, which is not a lot. It will also depend on your line of products and how you are going to market it locally and internationally. The important thing is you remain consistent with your product quality and the core values your company has. With extensive research and the right strategies, your brand will succeed whether locally or internationally.