Strategies for a Successful Global Brand

Many of the current global brands we see today had different names before they gained global recognition. Brand names such as Brad’s Drink, Tokyo Tsushin Kogyo, Blue Ribbon Sports, Pete’s Super Submarines and Computing Tabulating Recording Corporation may not sound familiar; but the names Pepsi, Sony, Nike, Subway and IBM do, don’t they? This is because they are the updated brand names of the aforementioned firms.

One of the reasons global brands change their names is to achieve brand globalisation. There are also numerous other strategies that successful companies employ; read on to find out more about them.

What is Brand Globalisation?

Brand globalisation refers to a scenario where brands gain recognition worldwide, for example, Apple, Google and Adidas.

In order to achieve brand globalisation in today’s economic climate, firms need to:

  • Identify the target market for their brand;
  • Conduct market research before deciding which countries to expand to;
  • Determine the category in which the brand would be positioned;
  • Decide which decisions have to be taken at the central level and at the local level.

The Process of Brand Globalisation

The impact of globalisation in recent years has led to the popularity and importance of the brand globalisation process, which consists of several phases, including:

  • Defining brand identity: The first step in brand globalisation is developing a brand identity and defining its constraints. Brands also need to be careful that they don’t lose their identity throughout the globalisation process. Brands need to be aware of the fact that when they expand to different countries, the overall confidence in the brand may take a hit and it can take time to build this confidence up again. Before entering a new country, it is important that brands conduct a thorough analysis of the market conditions in the country, which should include:

  • Accessing the markets: A brand is not limited to just being a name on the packaging of products, it is something that differentiates those products from its competitors and also adds value and confidence to the products. Therefore, when a brand enters a new market or country, its first initiative is fundamental in determining its long-term popularity. That is why, in this period of globalisation, brands have introduced multi-level branding with a parent brand and a daughter brand. In these situations, the parent brand can only go through the globalisation process with the assistance of the daughter brand. In such cases, the daughter brand includes the range of products. When these brands enter a new market, they usually do it using two methods, including:

  • Selecting products that have been adapted to the new markets: When a brand decides to enter a new market, it is important that it adapts its products to suit the market consumers. This needs to be carried out carefully and with the help of proper strategy and the adapted products should result in rapid growth and confidence in the brand.

How do Global Brands Compete?

Some examples of global brands that are in on-going competition with each other include; Apple vs OnePlus, Pepsi vs Coca-Cola, HP vs Dell and Lindt vs Ghirardelli. In an attempt to stand out or get one over their competition, global brands try implementing several strategies, including:

Strategies for Building a Successful Global Brand

Take a look at various strategies that will help you in building a successful global brand:

  • Positioning is important: How you position your brand will help in determining if it has the potential to go global. Excellent positioning involves properly understanding your competition and then analysing your competitive advantage over them.
  • Understand consumer behaviour: The behaviour of consumers is not standard across the world as consumer habits can change from country to country. This is one of the primary reasons why some brands fail when they target a global market. Barbara E. Kahn gave an apt example of business strategy which failed in her book Global Brand Power, where she mentioned that Walmart they set up outlets in China near industrial parks when consumers preferred to shop closer to their homes instead of closer to work.
  • Broaden your mindset: When deciding on a name for your brand, ensure it is broad enough to accommodate any new products that you might introduce in the future.

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