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Reading 23: Innovating and branding in a global context - Coggle Diagram
Reading 23: Innovating and branding in a global context
INNOVATION
innovation is crucial
sometimes innovation is obvious, sometimes innovation is more subtle
GLOBAL AND LOCAL BRANDING
branding will often have to be adapted to meet the needs of customers and legislations in different countries
marketing brands will also need to adapt to local advertising regulations, and cultural and social norms
global brands
a stream of innovations
international image more appealing to younger generations
economies of scale enable a lower price
risk that bad rep in one market can damage others
international brands
local brands
flexibility to adapt pricing strategy
close relationships and trust with consumers
flexible enough to meet local consumer needs
however, global branding is often seen to have higher quality
three recommendations for building a global brand
engaging in cultural immersion
finding leveraging influencers
using global frameworks with local relevance
consumer preferences on a brand can change
consumers may be upset if there is a change to foreign ownership of an iconic national brand
BRAND TRIBES AND BRAND COMMUNITIES
tribes
‘a network of heterogeneous persons – in terms of age, sex,
income, etc. – who are interlinked by a shared passion or emotion’
short term
can involve multiple tribe memberships
are not based on enduring personality traits or shared
values and are less easy to identify than traditional segmentation variables
communities
'is a specialised, non-geographically bound community, based on a structured set of social regulations among admirers of a brand'
cna operate with or without the involvement of the company that owns the brand
CRITICAL REFLECTIONS ON BRANDING
consumer empowerment has been claimed to be 'a myth'
many concerns raised about the power of brands
lots of evidence that brands continue to exert considerable influence
Murphy and Laczniak’s seven essential basic perspectives for evaluating and improving marketing ethics
Marketing organisations should cultivate better (i.e. higher) moral
imagination in their managers and employees
Marketers should articulate and embrace a core set of ethical
principles
Marketers are responsible for whatever they intend as a means or
end with a marketing action.
Adoption of a stakeholder orientation is essential to ethical
marketing decisions
Ethical marketers must achieve a behavioural standard above the
law
Marketing organisations ought to delineate an ethical decision making protocol.
Ethical marketing puts people first.
