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Prof. to edit Master Click Murali Murti subtitle style Feb Jun 2011 Module 8 Lecture 1
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CHAPTER 14: MANAGING BRANDS OVER GEOGRAPHIC BOUNDARIES AND MARKET SEGMENTS
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summary
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Brand management issues over regional, demographic and cultural market segments Basic rationale for taking brands into the international market Broad issues in developing a global brand strategy : Pros and cons of developing a global standardized marketing program Specific strategic and tactical issues in building global brand equity the ten commandments of global branding
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Regionalization is an important recent trend that, perhaps on the surface, seems to run counter to globalization. for regional marketing
Reasons
Need for more focused targeting shift from national advertising to sales promotions headaches
The
Drawbacks
Production Marketing
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example, the importance for marketers to consider age segments and how younger consumers can be brought into the consumer franchise As another example, the 2000 census revealed that Asians and Hispanics accounted for 79 million of 281 million people in the United States and an estimated $1 trillion in annual purchasing power.
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of slow growth and increased competition in domestic markets in enhanced overseas growth and profit opportunities to reduce costs from economies of scale to diversify risk of global mobility of
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Belief
Desire Need
Recognition
customers
Economies
distribution
Lower Power
Consistency Ability
Uniformity
Differences Differences
in consumer needs, wants, and usage patterns for products in brand and product development and the competitive environment in the legal environment in marketing institutions in administrative
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procedures
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to Levitt, because the world is shrinkingdue to leaps in technology, communication, and so forthwell-managed companies should shift their emphasis from customizing items to offering globally standardized products that are advanced, functional, reliable, and low priced for all.
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global brand has a clear consistent equity across geographies: same positioning, same benefits plus local tailoring if needed
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To build brand equity, it is often necessary to create different marketing programs to address different market segments.
they purchase and use products they know and feel about brands of brand elements
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What
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What By
changes need to be made to the mental map? what means should this new mental map be created?
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Establish breadth and depth of brand awareness Create points-of-parity and points-ofdifference Elicit positive, accessible brand responses Forge intense, active brand relationships
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Achieving these four steps, in turn, requires establishing six core brand 13
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Creating
Cultivating
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designing and implementing a marketing program to create a strong global brand, marketers want to realize the advantages of a global marketing program while suffering as few of its disadvantages as possible
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Understand similarities and differences in the global branding landscape Dont take shortcuts in brand building Establish marketing infrastructure Embrace integrated marketing communications Cultivate brand partnerships Balance standardization and customization Balance global and local control Define operable guidelines Implement a global brand equity
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Select distributors don't let them select you Look for distributors capable of developing markets, rather than those with a few obvious customer contacts Treat the local distributors as long term partners, not temporary market entry vehicles Support market entry by committing money, managers, and proven marketing ideas From the start, maintain control over marketing strategy Make sure distributors provide you with detailed market and financial performance data Build links among national distributors at the earliest opportunities
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Low