The Pros And Cons Of Global Vs. Local Branding

* So companies can increase company revenue and be able to dominate international markets in order to establish more stores and spread product around. A good example is McDonalds, they are everywhere. This helps the US because in revenue allows a company to keep its base in the US, increase the national gross product, drive consumer activity, keep jobs, and increase the export business, which goes along with jobs.

Today, firms have to deal with a global marketplace; marketers have no other choice. Participation in global marketing has begun to shift from a mere “option” to an imperative. The world is becoming more homogeneous. Distinctions between national markets

2. (TCO C) What are the benefits to a company of a well-executed BRANDING strategy? What are the benefits to a consumer? (Points : 25)

* Outsourcing the labor in different stages (manufacturing, operational, etc.) allows for the company to save costs which can increase the profit margin and improve the financial situation.

1. Make an overview of the pros and cons of the tow different branding strategies (i.e., individual branding and corporate branding)

An important tool in marketing, to a successful product, is its company brand name. Today the impact on branding a product has greatly increased the interest of the researchers and the academics. A brand name of a product arouses emotion, memories and a close relationship with the customer. On the other hand, global branding has a greater impact on the customers throughout the world. When it comes to globalization, the growing and expanding of a business solely depends on the brand of the product.

1. To what extent is a global approach to international marketing appropriate to firms in the Asia-Pacific?

Each country is a different market, with its own language, buying habits, ways of living, mores, business methods, marketing traditions, and laws. So instead of trying to organize new agencies with American personnel, most U.S. agencies purchase a majority. However, U.S agencies are not locked into the differences, because through global marketing, all of people’s needs around the world will be same toward U.S products sold abroad. Global consumer culture also depends upon global media to create a sense of global identify and memory without which any cultural identity is incomplete (Smith 1991).

This is an international marketing strategy that largely focuses on the commercial efforts and advertising on the benefits of concentrating on local markets rather than using global or universal approach. This, therefore, means that the company will employ work towards understanding culture of different local markets in various countries and try to enter into the studied market using the demographics in that area. The greatest effort required in this strategy is using advertising as well presentation to try and appease local sensibilities in various countries rather than applying a mass market strategy. So that this strategy can be successful it is crucial to carry out extensive research in different countries that the company hopes to invest (Leontiades, 2010). By learning how the company can be able to create a good connection with the consumers in various countries using multi-domestic strategy can assist to build a lot of tactics which can be integrated into markets that have many similarities. Learning how to closely associate with customers will also assist customize marketing and advertising efforts to match with the present local culture. Although multi-domestic strategy may be somehow expensive to employ its end result are more profitable to the company. When the company’s products are able to

Our company’s competitive advantage over both domestic and international is brand equity. Brand equity is the value of a products brand in the market, or the number of consumers that can identify the brand, especially consumers who can name the brand as top in its category. Good brand equity is most often the result of effective advertising and promotion. On the international scene many brands have global equity, meaning consumers around the world recognize them because of the exposure the brand has had in various media, such as television and movies, as well as through their presence

• Eliminate costs related to additional buyers that will not be needed in a more production centered operation

· Strong brand and good image: because of famous and well-known brand, Global Star Enterprises has strong brand and good image in customer’s mind. This is very important strength of big companies.

and values behind the company are portrayed through its image so that the customer is able to

The many advantages of the local brands can also be negatives. Global brands traditionally have more flexibility, which constitutes that they have more funds financially. The local brands do not have as much flexibility to market their products like the global companies do. Prime-time television spots and billboards are expensive and most local companies do not have the money to compete with the “big boys”. That can really hurts them when trying to get their product out in the field because if you can not make your product known outside your geographical location then it might mean a death sentence for

1.) Why do companies like Pepsi need to globalize? What are the various ways in which foreign companies can enter a foreign market? What hurdles and problems did Pepsi Face when it tried to enter India during the 1980s?