Global Branding Strategies White Paper
One of the most important decisions at the time of a new product launch is selecting the brand. Branding a product represents a promise made by the ﬁrm to the customer about the product’s value or quality. Eﬀective branding diﬀerentiates competing products and contributes to the mental image the customer has about the product and the ﬁrm. It is easy to see the value in familiar brands such as Coca-Cola, Toyota, Nike, or Apple. Marketing people refer to brand equity as the added brand value that results from careful investment in brand marketing by the ﬁrm, and is created over time by the relationship between the brand and customer. Brand equity is valuable to the ﬁrm as it builds customer loyalty and repurchase and gets greater reseller support, thus making future marketing and product launch activities much more cost-eﬃcient.
Branding for the domestic market is challenging enough. Names must be chosen that communicate the physical or sensory qualities of the brand; that are clear, relevant, and not irritating or insulting; that might be transferable to a line of products in the future; and that support the overall new product strategy. Few if any brands score high on all these dimensions. But when developing a branding strategy for the global market, the branding decision becomes even more complicated. In addition to all of the above, the ﬁrm must now consider whether it should standardize the brand name across all markets, or use two or more regional brand names. And this decision in not made in a vacuum, but must be tied to the global management of the brand…
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