Global Brands
A Chimera?
This is an excerpt from the paper...
A decade ago as globalization of the worldÆs markets and economies began to hit its stride, international corporate executives relied upon a branding ômantraö that according to Petromilli (2003) went something like this, ôGo big, go global, or go out of businessö (1). As globalization swung into full swing, executives believed global brands could be created that would be popular in all corners of the world. Such brands anticipated to have uniform characteristics and qualities and deliver uniformly consistent satisfaction among consumers in any market. Virtually across-the-board, such expectations of true ôglobal brandsö were never realized. As branding expert David Aaker declared, ôThere are no such things as global brands, only global brand managementö (Petromilli 2003, 1). Such a statement is valid based on the realization that global branding is more about management brands on a worldwide basis and not about global uniformity or reach.Analysis from Research International defines three categories or classifications of global brands: 1. Mythic Brands û Brands that are built upon powerful mythic appeal with universal resonance (e.g. Nike, Sony, Coke) 2. Cultural Brands û Brands whose appeal is built upon specific cultural values (e.g. Armani, Burberry) 3.Power Brands û Brands that are distributed globally but often marketed locally (e.g. Ariel, Dove) Throughout the literature the case is made that
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y into the Forbidden City in China outraged many Chinese and the media, mainly due to the revered nature of the intended location and billions of Chinese who customarily prefer tea over coffee. As Asher (2001) writes in Brandweek, ôThese days, global consistency is still the watchword, but its meaning can vary in order to accommodate local peculiarities and/or regulationsö (25). McDonaldsÆ executives are aware of this difficulty as they were forced to modify their menu choices, packaging, and pricing in many countries where the majority of individuals are poor or are not prone to beef consumption such as India.
Many argue that instead of searching for the ever-elusive global brand, companies need to recognize global branding is more about managing locally brands on a global scale. Despite retooling brands, packaging, pricing and other features of products and services for different markets, companies often experience failure because of the glut of different products and/or brands such management results in. As David Taylor (2003) writes in Marketing, ôFor decades, local Unilever companies were able to tinker with brand hardware, such as product formula, structural packaging and range. However, the resulting myriad of differen
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Approximate Word count = 1246
Approximate Pages = 5 (250 words per page)
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