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Innovating and branding in a global context (Innovation (Innovation is the…
Innovating and branding in a global context
Innovation
Innovation is the lifeblood of a brand
New products
New models
Trademark branding
Expansion globally
Global and Local branding
International brands - Use some of the same marketing mix
Local brands - Marketed in a single country
Global Brands - same marketing mix globally
Advantages of local brands
Flexibility to meet local needs
Flexibility to adapt pricing strategies
Insulation from damage from other brands
Close relationships with customers
Advantages of global brands
Economies of scale enabling cheaper price
Stream of innovation
International image
Recommendations for building global brand
Engaging in cultural immersion
Visiting market's local culture
Finding and leveraging influencers
Harnessing insights from local markets
Using global frameworks with local relevance
Using marketing programmes and messages flexibly
Brand Tribes and Brand Communities
Tribe - A group linked together by a shared belief about a brand (short term) NOT based on personality or values
Community - A community formed on the shared basis of attachment to a product. Nutella community - a website for fans to express their passion for nutella.
Critical reflections on branding