Global Branding, Advertising, and Marketing Strategies

Global Branding, Advertising, and Marketing Strategies

Global Branding, Advertising, and Marketing Strategies

Purnima Embranthiri

Global Branding, Advertising, and Marketing Strategies

Purnima Embranthiri

ISBN - 9789361527586

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Preface

As companies expand globally, a brand like Coke or Nike can be the greatest asset a firm has, but it also can quickly lose its power if it comes to signify something different in every market. Successfully leveraging a brand's power globally requires companies to consider aggregation, adaptation, and arbitrage strategies all at the same time, beginning with defining the universal heart and soul of every one of a company's brands (aggregation) and then expressing that in suitable words, images, and music (adaptation and arbitrage). In doing so, allowance must be made for flexibility in execution because even the smallest differences in different markets' consumer preferences, habits, or underlying cultures can make or break a brand's global success. In allowing such flexibility, a key consideration is how a product's current positioning in a particular market might affect the company's future offerings. If a product's positioning varies significantly in different markets, any follow-on products will likely have to be positioned differently as well, and this raises costs and can create operational problems.

In many companies, global branding evolves as the company enters new countries or expands product offerings within an existing country. Typically, expansion decisions are made incrementally and often on a country-by-country, product-division, or product-line basis, without considering their implications on the overall balance or coherence of the global brand portfolio. As their global market presence evolves and becomes more closely interlinked, companies must pay closer attention to the coherence of their branding decisions across national markets and formulate an effective global brand strategy that transcends national boundaries. In addition, they must decide how to manage brands that span different geographic markets and product lines, who should have custody of international brands and who is responsible for coordinating their positioning in different national or regional markets, as well as making decisions about the use of a given brand name on other products or services.

In this book, we tried to explain branding in global business how marketing and branding are two different things and branding strategy. Advertisement, Marketing management at a global level is required to understand. It was a good time to edit this book.

Happy Reading.

Content

Chapter 1. Introduction 1

1.1 How global business works? 1

1.2 Overview of Advertising 3

1.3 Overview of Marketing 5

1.4 Industrial buying behavior 6

1.5 How do people buy industrial products? 7

1.6 Exercise 10

References 10

Figure Resource 11

Chapter 2. Brands and industrial markets 12

2.1 The awareness and association of the industrial brands 12

2.2 Brands, Brand values, and Brand image 15

2.3 Sub brands and branding extension 17

2.4 The role of brands in industrial marketing 20

2.5 Exercise 21

References 21

Figure Resource 22

Chapter 3. Analyzing Brands 23

3.1 Stripping back to the core values 23

3.2. Measuring brands 25

3.3 Exercise 27

References 27

Figure Resource 28

Chapter 4. Building Industrial Brands 29

4.1 Creating and changing the brands 29

4.2 The marketing mix and building a brand 33

4.3 Using service to build brands 37

4.4 Brands and advertising 38

4.5 Strategies 41

4.6 Exercise 43

References 43

Figure Resource 44

Chapter 5. Brand management 45

5.1 Overview of Brand management 45

5.2 Caring for brands 49

5.3 Valuing brands 54

5.4 Exercise 57

References 57

Figure Resource 58

Chapter 6. Advertising 59

6.1 Introduction 59

6.2 Types of advertising 60

6.3 Features of advertising 63

6.4 Objectives of advertising 64

6.5 Importance of advertising 65

6.6 Role of advertising in marketing makes 66

6.7 Advertising strategies 68

6.8 Format of advertising 78

6.9 Television rating points [TRPS] 79

6.10 Exercise 80

References 80

Figure Resource 80

Chapter 7. Marketing Brand Positioning Strategies 82

7.1 Objectives 82

7.2 Introduction 82

7.3 Origin of Positioning 84

7.4 Exercise 89

References 89

Figure Resource 90

Chapter 8. Protecting Brand From Trademark 91

8.1 Why registration of a trademark is important? 91

8.2 Protection of investment 94

8.3 Tips And Traps 95

8.4 Exercise 99

References 99

Figure Resource 99

Chapter 9. Reputation Management 100

9.1 Importance And Objectives 100

9.2 Reputational risk 102

9.3 Exercise 107

References 107

Figure Resource 108

Chapter 10. Guidelines In Management 109

10.1 Introduction to the guidelines of management 109

10.2 Management of corporate reputation during a crisis 111

10.3 Crisis response and communication plan 111

10.4 Corporate communication during a crisis 113

10.5 Dealing with the office emergency 115

10.7 Management can Ensure Better Life 120

10.8 Budget 123

10.4 Summary 129

10.5 Exercise 129

References 129

Figure Resource 130

Chapter 11. Online Branding 131

11.1 Online Branding Strategies 132

11.2 Importance of Online Brand 135

11.3 Ideas for Online Branding 136

11.4 Summary 138

11.5 Exercise 138

References 139

Figure Resource 139

Chapter 12. Brand Identity 140

12.1 Key to a Strong Brand identity 142

12.2 Steps to Build a Brand Identity 142

12.3 Some of the best Branding Strategies 144

12.4 Brand Identity Model 147

12.5 Summary 152

12.6 Exercise 152

References 152

Figure Resource 153

Chapter 13. Brand Marketing 154

13.1 Difference between Marketing and Branding 155

13.2 Brand Marketing Objectives 156

13.3 Brand Marketing Strategies 156

13.4 Making a Brand Marketing Strategy 158

13.5 Evolution of Brand Marketing 160

13.6 Summary 160

13.7 Exercise 161

References 161

Figure Resource 161

Chapter 14. Digital Branding 162

14.1 Digital Marketing vs. Digital branding 163

14.2 Benefit of Digital Branding 164

14.3 Digital Branding Trends 165

14.4 Components for Successful Digital Branding 167

14.5 Summary 169

14.6 Exercise 170

References 170

Figure Resource 170

Chapter 15. Important Aspects of Global Branding 171

Abstract 171

15.1 Global Positioning 172

15.2 Global Brand Structures 173

15.3 International Branding Strategies : A Case Study 179

15.4 Summary 181

15.5 Exercise 182

References 182

Figure Resource 182

Glossary 183

Index 190

Chapter 1. Introduction

1.1 How global business works?

Global business is a company that operates facilities in many countries around the world. It is different from the international business because international business sells products worldwide but has to facilities only in its home country. From the point of view of a seller, a global market is an export market; for a buyer, it represents imports from abroad.

Basic concepts of global business- policy and strategy/innovation culture/creativity /leadership /human capital technology/business environment. When a company becomes a global business, firstly, it needs to compete with the local business in that country after entering the foreign markets.

Four main global strategies that help to build a company into a global business:

•Domestic exporter

•Multinational

•Franchiser

•Transnational

Globalization implies that the world is getting smaller. Through global business, people around the world can more easily and readily connect. Let’s take an example of McDonald’s; as a result of global business, nearly 69 million people in 118 different countries eat at McDonald’s every day. Basically, if you’re entering the global business, i.e., contending with the new and increased competition with globally-minded companies.

Globalization or global business means that businesses can reach consumers worldwide more rapidly and efficiently and with digital facilities. Cell phones and the Internet plays an important role also. But global business also incredibly complexity such as

•Global economic environment

•Global Legal environment

•Global technology environment

•Global social environment

•Global political environment

Example for an economic environment

McDonald’s is a U.S. based corporation where all transaction has been done in a dollar. Still, there are 164 official national currencies in the world. Each has a different value or purchasing power; imagine to make a proper balance.

Example for the legal environment

It means that if you are thinking of starting your franchise in other countries, you must consider aware banning and fines of that country. If you are an operator of a McDonalds’, should you remove the ice-cream cones and MF flurries from your menu to protect your customers against being fined?

Example for technology environment

Consider your company presence in China, where there are only 1.3 billion nearly mobile users. How can someone order fast food for delivery? It required to established affordable technology for consumers. As global business demands depend on technology, they must also leverage technology to move products, peoples, and supplies around the globe effectively.

Example for a social environment

In this environment, customs and traditions of the society in which your company, showroom, the restaurant is established. It also includes the living state or taste of living, education of people living in the area where you’re your business is established. This point is important, like opening a restaurant near a repudiated university, so this leads to grabbing the attention of college students and their demands as well.

The advantage of reaching out globally applies to both tangible and intangible products, but the latter has a far greater edge over the other because the item’s delivery happens instantly upon realization of payment.

Example for a global political environment

This factor is base of global business, like when a company wants to expand their business globally, so they have different branches in a different country, so for that, the political background of that country is important.

Why is the environment important in business?

Environment plays an important role when you want to run your business. Each and every business exists, survived, and grew. People inside it make every possible effort to survive with every downfall, which leads to opportunities to some in a positive context and threats to some in a negative context.

Threats refer to external environment trends changes that will lead to hinder the firm’s performance. Besides opportunities environment happens to be a source of many threats. Environmental awareness can help managers to identify various threats on time and serve as an early warning signal.

•Leads to business improvement

•Identifying opportunities

•Getting early signals for threats or loss

•Helps to assist

•Planning

•This leads to better ideas and open mind environment

Fig. 1.1 Business environment components.

1.2 Overview of Advertising

"late 1700s – Benjamin Franklin (1706-1790) – father of advertising in America.

Advertisement or ad in short. Advertising is a kind of communication sponsored openly to promote a product or an idea to the consumers. This delivers the proper message to the customer or consumers about their product and convinces consumers about the product. Apart from that, it also enhances the image of that particular company or business. Advertisement draws consumers to the product.

Classification of advertisement

•The traditional method of advertisement

E.g. (newspaper is the most traditional method.)

•Radio

•Online

•Print

•Billboards

•Novelties

•Celebrity endorsements

•Point- of – sale

•Television

•Mobile ads

Fig. 1.2 Taxicab with advertisement

Fig. 1.3 Train coach with advertisement

1.3 Overview of Marketing

Marketing itself contains a self meaning: it is a set of ample activities that an individual or group of people perform in a particular specific concerned area. Activities like an advertisement of products, buying and selling of products, providing required services to customers. Basically, these activities are performed by specific or professionalized companies to create a highlighted target for the audience.

It refers to providing products or the needs of a customer by showcasing the best out of the best of their products.

Fig. 1.4 Overview of marketing

What does all a marketed company need to have?

A well-marketed company will always go for an initial plan, banners, campaigns to attract the buyer’s attention. Their main target is to attract customers by applying various tricks and plans to complete their target. As in marketing completely, the desired target is the first and main motive of the company.

A well-settled marketing company is all need to complete the target within the provided deadlines. If the company fails to complete the target market may down to incurred loss. Completing up the target will urge demands of products, services, and others that Profit from the company and market.

Plans/Strategy

A marketing strategy should be such well-mannered that it attracts new customers and keeps the old or current customers growing by delivering them their satisfaction. Thus, this is selling and creating a customer network and creating a positive, impactful, and Profitable Relationship among all the surrounded networks.

Fig. 1.5 Marketing strategy

1.4 Industrial buying behavior

While studying or learning about marketing, you need to understand the behavior of the customer. Behavior means why customers want to buy and why buyers want to purchase the demanded goods. Marketing makes an impact that makes the customer behave an attraction towards the advertisement or mapping or modeling campaigns which calls up the buyer.

This all depends on your strategies, plans, and other motives which a company makes to sell their products; your plan will showcase the customer attraction towards the product. This is all up to your will how you influence the audience through different means of marketing, be it digital, paper, holdings, newspaper, and many other means of marketing.

Fig. 1.6 Industrial buying behavior

Industrial buying a complex structure of making decisions and making a good purchase. This even may lead to an increase in demand for products, which further leads to a rise in the economic level. So demands among the audience are indirectly how a seller should have ample of demanding goods and services. Industrial buying could be anything like packing material, machinery, services, transportation, etc.

1. Materials involvement.

•Raw materials

•Labors.

•Installations of equipment

•Verification of goods

2. Industrial buyers.

They could be an individual business, government agencies that decide to make a purchase for goods regarding the material involvement.

3. Characteristics.

•A formal activity follows the procedures

•Proper strategies.

•Economy and rise in marking levels

•Sum of money

•Risk in markets (May or may not have)

•Demands

•Having stock.

4. B2b (buying behavior) products.

•Group of people is involved

•Purchasing and selling have certain rules.

•Price (higher or lower)

5. B2b system.

•Workload, greater output, more capabilities

•Buyers and suppliers have to have quick decisions to risk down the excessive consequences.

6. B2b facilities.

•Infrastructure

•Building or plots

•Installations of machines

•Manufacturing plants.

1.5 How do people buy industrial products?

People can buy any of their needs from various marketing platforms like online market include websites like Amazon, Flipkart, etc. which is verified and trustworthy.

Buying process

•For this, first, you need to install the application in your system.

•Then register yourself as a buyer or seller with your proper and real identity.

•Complete all the legal formalities which are required to be filled.

•Once you are done, you are ready to buy or sell the product on a specific platform.

After purchasing the product, the very first step you need to check is your details; if needed to make an edit make a one and continue to further formalities.

Fig. 1.7 Consumer buying process

Participants in the buying process

Fig. 1.8 Participants in