Building the Global Brand

Building the Global Brand

DOI: 10.4018/978-1-7998-0957-9.ch002

Abstract

Building a sustainable global brand takes time and strategy. Leaders in the field must fully understand the marketing mix, market research, organizational structure, as well as governmental rules and regulations. Meeting with leaders to determine market and product objectives is fundamental. Ensuring that key messages are clearly articulated into the native tongue is essential. Companies must also adopt a reliable evaluation tool that will allow them to identify gaps and make changes early on. These key areas will be explored in this section.
Chapter Preview
Top

Introduction

Nike began as Blue Ribbons Sports in 1964 (shoes for track and field). In 1966, the first retail store was opened. By 1971 the Nike Swoosh was created and used (product line was extended to meet needs of all athletes; thus Nike is associated with a Greek Goddess known for strength and victory). This global enterprise did not start overnight. It took hard work and strategy to establish what is now known as Nike. All of their marketing strategies both global and domestic must be clearly articulated and defined with the 4 Ps of Marketing (Price, Promotion, Product and Place). As noted by Hughes and Nickels (2013), the following strategies must take place prior to launching a new product of service. They are clearly imperative for those who intend on expanding into the international market. Business leaders must, “find opportunities, conduct research, identify a target market, design a product to meet the need based on research, do product testing, determine a brand name, design a package and set a price, select a distribution system, design a promotional program and build relationships with customers (p. 358). These action steps will be further explained in the following sections. They are necessary as organizations seek to build their global brand.

Box 1.
Strategy- The development and or deployment of resources with the intent of accomplishing goals and objectives in competitive areas.
Strategies Begin with a Situation Analysis
Which Leads to Development of
The Marketing Mix (The 4 Ps of Marketing):
Price– Determined by Value through Value Based Pricing
Promotion- The usage of integrated marketing communications to promote products (ex. advertising, public relations and personal selling)
Product- Strategies Used to Determine Which Products to Develop
Place– Providing products when they are needed in the proper quantities

A brand is defined as “A name, term, sign, symbol, design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors” (Kotler, p. 241, 2012).

  • It brings attention to a product continually

  • Identifies the manufacturer of a particular brand

On the other hand, brand equity is described as “A brand’s value as determined by market share, price and profitability (Kotler, 2012). Some critical factors are used to help build brand equity like association, familiarity, awareness, preference, loyalty and personality. In an effort to ensure that these areas resonate with consumers on a global scale, companies must establish relationships and strategies international consumers and partners.

Like Nike, global companies can too build their international brand with perfection by virtue of putting the right strategies in place. This section deals with three very important strategies that must be upheld when building a global brand, mission, the 4 Ps of Marketing and brand resonance. The following image is of a brand resonance model that can be easily adapted in an effort to determine how a customer feels about a product or service. The terms in each box can help businesses to conclude how consumers feel about their product or service. It also helps companies to define how well customers relate to the product or service. This information can be gathered via surveys or focus groups and then input into the chart during important meetings.

Figure 1.

978-1-7998-0957-9.ch002.f01

Complete Chapter List

Search this Book:
Reset