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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
brands need innovation and change - either obvious or sutbly
Global and local branding
rare to find standardised global brands - most need to be selective globalisation - brand offerings often need to be adapted to suit customer needs + legislative requirments in different regions
not just products - marketing of brands - need to be adapted for local regulations and culture/social norms
3 types of global brands
global - uses same marketing and mix in all countries
economies of scale - allow a lower price
stream of innovations
international image - more appealing to younger and more mobile population segments
risk of global - one problem in one country - can affect other markets with the same product
international brands - some of the same elements
local - markete in single country or limited geographical area
advantages
flexibility to meet customer needs
flexibility to adapt pricing strategies and other elements of marketing mix
insulation of risk of damage from problems of other branded products in portfolio
close relationship and trust with consumers
3 recommendations for global brand
engaging in cultural immersion
finding and leveraging influencers
using global frameworks with local relavance
some company's are considered local brands in other countries, some highlight country of origin to infer country references or inferences in choice of brand name
Research shows - perceptions of country - affect attitudes towards brand
brand tribes and brand communities
rival to segmentation - shared experience emotion or passions link homogeneous people together
can involve multiple tribe memberships + not based on personality traits - less easy to identify
concept - tribe clover - reflects ways a tribe is manifested + members adapt one of 4 roles
adherents
practitioners
participants
symphathisers
tribal marketing - reflects quest for comunity - specialised non geographic specific based on structured set of social relations
these also apply to brand tribes - 3 features - else of group belonging, rituals and moral responsibility
brand community can or not involve companies
critical reflections on branding
critisism of branding
social media gives impression of consumer greater control and involvement - claimed to be myth
grassroots brand community websites claimed to be feeling company brand equity to company financial advantage + creating value + feeding overconsumption
brands have too much infliuence - on youth education sponshership, environment censorship and workers
7 perspectives for improving marketing ethics
ethical marketing puts people first
must achieve behavioural standard above the law
should cultivate higher + better moral imagination in manners and employees
should articulate and embrace core set of ethical principles
adoption of stakeholder orientation esential for ethical deacon-making
ought to delineate ethical decision-making protocol