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Innovating and branding in a global context - Coggle Diagram
Innovating and branding in a global context
Innovating
Constant evolution
Obvious
New product
New marketing campaign
Subtle
Packaging changes
Add-Ons
Branding
Global
Selective globalisation
Local adaptations
E.g. coca cola
Unique
Historical factors
Lucky?
Identical
Marketing mix
Marketing strategy
Advantages
Stream of innovation
Appeal to younger generation
Expectation of global brands
Economies of scale
Disadvantages
One market can impact others
e.g. one issue in Germany could lead to issues with EU
Perceived
High quality
Global identity
Social responsibility
Local
Cultural norms
Requires specific campaigns
Social norms
Advertising regulations
One country
Limited area
Advantages
Insulation from other brands
Flexibility
Meet local needs
Adapt
Pricing strategies
Marketing mix
Build
Trust
Relationships
Disadvantages
Cost
Management
International
Similar major strategy
Elements of local influence
Brand
Tribes
Quest for shared community
Rituals
Belonging
Adopt roles
Traditions
Communities
Tribal clover
Specialised
Non-geographically bound
Structured set of social relations
Sense of obligation
Rival to segmentation
Belonging
Shared passion
Bond individuals
Shared emotion
Shared experiences
Critical reflections
Consumer empowerment
Myth?
Manipulation?
Building brand equity
Fuels overconsumption
Divisive?
Lack of real change
Unsuccessful campaigns discreetly stopped
Impact on
Youth
Education
Culture
Sponsorship
Censorship
Environment
Workers
Ethical marketing
Marketers take responsibility for message
Cultivate better moral imagination
Behavioural standard above law
Articulate and embrace set of principles
Puts people first
Adopt stakeholder orientation
Delineate ethical decision-making