1 / 14

Managing Brands Across Geographic Boundaries and Market Segments

Learn how to navigate globalization, regionalization, and localization in brand management to address diverse consumer preferences and cultural aspects. Explore the challenges and benefits of standardization versus customization in branding strategies for international markets.

tabathad
Download Presentation

Managing Brands Across Geographic Boundaries and Market Segments

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MANAGING BRANDS OVER GEOGRAPHIC BOUNDARIES & MARKET SEGMENTS Chapter 14

  2. Scope of Boundaries • Globalization: Going global • Regionalization: Coordinated efforts based on region • Localization: Catering to the local market

  3. Scope of Boundaries • Regionalization • MNC’s tend to believe that all Asian markets are the same (Asia Pacific Rim). • Comparative analysis shows that consumers in Japan, Korea and China differ in • Brand Orientations • Attitude towards domestic and foreign products • Quality and price perception • Product feature preferences

  4. Localization

  5. Demographic and Cultural Aspects • Fragmented & Diverse Markets • Age • Religion • Gender • Ethnic Origin • Semiotics (Meaning of meanings) E.g. Hispanic market in the US comprises of 11 nationalities • The subtle intracultural differences need to be understood and accounted for

  6. Economies of Scale Lower costs from higher volume Experience curve Lower marketing costs Uniformity in 4 P’s Corporate global brand like Sony enjoys this Power and Scope Communicates credibility High perceived quality Consistency in image Leverage good ideas Why Go Global???

  7. Risks in Going Global • Differences in consumer needs wants and usage of products • Consumer response to marketing mix • Brand and product development in competitive environment • Legal environment

  8. Standardization vs. Customization • Marketers are not only thinking of marketing to one single market • Hence companies tend to follow the ‘glocal approach’ going by the mantra of ‘think globally and act locally’ • This requires integration in product, packaging, brand name and advertising styles

  9. Simple Example “…to Brazilians, beer is a soft drink; to Germans, good beer is the one that is locally brewed; to the English, lager beer is a new product; to Americans, beer is a boy meets girl drink; and to Australians, beer is a man’s drink”

  10. Standardization vs. Customization Although standardization of branding strategies results in economies of scale and message consistency, due to the significant differences in consumers, culture and socioeconomic status, a customised approach to the local/national market is worth the extra expense

  11. Standardization vs. Customization • Product: Customize as per taste and preference • Communication Strategy: Use of language, colors as well as legal procedures • Distribution: • Exclusive vs. Intensive • Urban vs. Rural • Pricing • Based on the economy

  12. Why Follow ‘Glocal Approach’ • Consumer Kaleidoscope • Wake up and smell the ‘Thai Tacos’ • Brand Values • Discuss McDonalds Example • Corporate vs Product Brands • Regional Branding • Shield against anti-branding attacks

  13. Developed vs. Developing Countries • The bottom of pyramid is a booming market • Brand symbols are important for this market • Packaging • Sachets • Promotion • Use specific channels • Distribution • Urban vs. Rural

More Related