Brand Globalization
Brand globalization is defined as expanding a given brand's market across the producing country's border. Some examples of global brands are, Nestle which originated from Switzerland and is now present all over the world, Unilever that offers a wide range of products, including detergents, margarine, lotions, and so much more, originated from the Netherlands. Both Nestle and Unilever started off small in their countries but later experienced international growth of their brands. Globalization of brands is a sequential process that involves redefining a brand's identity, selecting possible target markets for the brand, reaching out to the selected markets, identifying how to localize a brand in that market, selecting the suitable products for the market, and analyzing on how to conduct global campaigns for the brand (Cateora et al., 2020).
Redefining the Brand's Identity
Redefining a brand's identity involves the provision of logos and slogans that are unique and differentiate the brand from other competitors in the market. While defining a brand's identity, a company should consider choosing words that are will not bring confusion when interpreted in different parts of the world. Brand slogans should be based on words linked to customer satisfaction and delivery of quality. Every brand identity should relate favorably with customers' feelings and perceptions. For instance, Nestlé's slogan Good Food, Good Life insinuates that consumption of their products gives satisfaction on the quality.
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Identification of Target Market
Brand globalization involves the selection of the international target market to explore. The first step is the local establishment of a brand in the originating country. For a brand to gain international customers' trust, verification of previous satisfaction in the brands home country is necessary (Mandler, et al., 2020). While evaluating target markets, the brand needs to analyze the size of existing market for the brand and determine the potential of growth depending on the natives' purchasing power. In addition, a brand should evaluate competing brands in the target market and identify distinctive features that their brands can offer to counter competition. Also, available distribution channels to reach customers located in various regions in that market should be determined to assess what geographic region a brand should cover. While selecting a target market, the availability of commercial partners ready for a franchise is vital. Another consideration made while selecting a target market is the availability of media channels on which the brand can use while marketing.
Legal considerations are also made, such as taxes, labor, and employment law, which determines employer-employee relationship, import and export customs regulations, and the payment methods as well as financing options available in that country. Also, procedures followed in case of a business relationship termination, and the consequences should be addressed while analyzing a target market. The political situation in a country determines how well a business will thrive. For instance, the brand positioned in a region that faces political instability will constantly suffer losses from damages during riots and closures during the unstable periods. In addition, decisions made by the leaders can influence the economic condition of a country, which narrows down to the purchasing power of the brand. Also, politicians affect technology adoption in a country; for instance, during President Trump's era, Huawei Technologies faced a ban on supply in the United States. Additionally, the economic conditions of the target market that a brand should consider include consumer consumption habits, supply and demand, average per capita income, inflation rates, and trading position of the currency used. Analysis of the population of the age bracket the brand seeks to target is also necessary.
Accessing the New Market
After the selection of the target market, products are newly introduced for consumption. Most brands use a two-way structure to access their new market whereby there are the parent brand and a mini brand developed from it to suit the target market. For instance, Toyota is a parent brand in the automotive industry whose products vary greatly depending on the country they are in, like Toyota Camry in the United States. Also, brands can access new markets by segmenting the already existing line so as to remain suitable for the target market. For instance, a lotion brand can be introduced in various fragrances and afterward introduce soap and hair products under the same brand. Either way, brand penetration in the new market will be made easier.
Localizing the brand architecture
Brands may choose to have one design for their logos and slogans for their global products, which makes it easier for identification in whichever country a loyal consumer may visit. Other brands choose to strategically name their brands depending on the customer preference in that region. For instance, Coca Cola has two names for the same brand, Diet Coke and Coca Cola Light (Solberg, 2017). In addition, a company seeking brand globalization should identify a brand product range suitable for every market. Also, in the localization of the brand, pricing strategies are essential. Prices set for a brand are determined by the competitor's price in which a brand may set lower prices to gain a competitive advantage, or the cost of production incurred as well as the social status of the target market.
Brand Marketing Campaigns
After strategic entry and localization of a brand in a given target market, brand campaigns are carried out to raise the consumer's awareness, introduce new products, and remind consumers of existing products. Brands can choose the traditional marketing method using televisions, radios, magazines, journals, and newspapers. Some of the advantages associated with the traditional marketing methods are the ease in which brand information gets to a large target audience, the long lifespan of the print media used like magazines, and printed advertisements are easier to understand and remember as well as the history of success rate and effectiveness (Srinivasan, 2020). However, traditional media has slowly been overlapped by the use of social media platforms. Brands may use social media platforms such as Facebook, YouTube, TikTok, and Instagram to market the brand. Social media platforms are effective while targeting the young population and are cost-effective. In addition, using social media allows direct customer interactions, and a brand can identify shortcomings from the feedback given ( Katsikeas et al., 2020) . Performance evaluation is possible while using social media as a marketing tool as well as personalizing advertisement content. However, using social media as a marketing tool may be disadvantageous in cases where customers post negative feedback on a platform and change the perspective of other prospective customers. Social media marketing is also time-consuming as it requires ample time in making content as well as being engaged all the time to respond to customers.
In conclusion, brand globalization is essentially penetration into other countries' markets. Effective brand globalization relies on the marketing strategy used to distinctively create a brand identifier, analyze potential consumer market considering political stability, economic conditions, legal practices, competition, and localization of the brand. Brands reach their audiences using marketing campaigns.
References
Cateora, P. R., Meyer, R. B. M. F., Gilly, M. C., & Graham, J. L. (2020). International marketing . McGraw-Hill Education.
Katsikeas, C., Leonidou, L., & Zeriti, A. (2019). Revisiting International Marketing Strategy in a Digital Era. International Marketing Review .
Mandler, T., Bartsch, F., & Han, C. M. (2020). Brand credibility and marketplace globalization: The Role of Perceived Brand Globalness and Localness. Journal of International Business Studies , 1-32.
Solberg, C. A. (2017). International Marketing: Strategy development and implementation . Routledge.
Srinivasan, R. (2016). International marketing . PHI Learning Pvt. Ltd.
