The Iphone, Coca cola, BMW, Rihanna, Hertz, Yahoo, GAP, Guinness ….. most of us recognise these brand names. They are after all, global brands that are found in many countries. We recognise them because it is now common practice for companies to create a global brand name for their international products. Creating a brand that is recognisable the world over is not an easy task, but it is a task that can nevertheless be accomplished. Apple, Face Book, Google, ZARA, Malibu cream, are just a few of the many examples of brands that have been built-in the past ten years ,and that have internationalized and have come to be recognised as global brands. So, while it does take creativity, strategizing, implementation and a lot of hard work , creating global brands is not the preserve of a few companies, but can be done by any organisation which sets its corporate mind to it.
In your quest to move your brand from your region or country, into international markets, here is why a single brand name will benefit your company.
- As global tourism develops , it will be a disadvantage to your brand if it has a different name in different countries. Your familiar brand name creates a comfort zone for your travelling customers as they are able to find your products in other countries. Seeing the queues of people from different countries queuing outside a McDonald’s in South Africa is a sign that this is an international brand that is recognised across the globe. While single name brands are more advantageous for certain types of products than others, the main advantage is that of synergy. An Iphone by any other name will not have the same impact.
- The more that international media channels develop, the greater the opportunities they provide for the single name brand. Global advertising channels are on the increase and are being used by global brands to reach their international customers. There are real opportunities for world wide coverage that are provided by such events as the Grand slam tennis, World cup soccer, the Olympic games , Masters golf tournaments and so on. While the cost of sponsoring such events maybe astronomical only global brands have international customer presence to justify the expenditure.
- When a brand goes international, it can benefit from the internationalization services of global retailers brought on by the international extension of their outlets. The brand escapes the stranglehold of local distribution through globalisation.
- The single name international brand eases the process of brand extension for a company. The worldwide single brand name allows the company to capitalise on its own name sooner than normal since the brand acquires a wider international presence and awareness and ….if the products and services make an impact, a corresponding reputation. The goodwill achieved by the single name brand on a world-wide scale provides a priceless lever for entering other markets.
- Consumer more readily trust international brands. It is not surprising that many global brands succeed. Consumers believe that global brands are more trustworthy because they have been tried and tested in many markets.
- Many customers’ self- concept is built by the things that they own and global brands play a big role in enhancing this self-concept. Many customers who are concerned about image and self-perception will spend money on pricy global luxury brands because this enhances the way that they feel about themselves and the way that they want to be perceived by their peers.
What to do to build your global brand.
- Invest heavily in research and development to build products and services that have global quality standards.
- Invest in more efficient production and operational processes for your company, to reduce your operating costs.
- Create a brand name that has universal appeal.
- Thoroughly research your global competitors and understand their operations, products, distribution channels and marketing strategy.
- Research your markets and understand their macro and micro environments, the population demographics, cultures, regulatory environments, and the trading environments pertaining to your products in those markets.
- Understand the barriers to entry in your target markets and develop a market entry strategy that will make your business viable in those markets.
- Create a global marketing communication strategy that appeals to the global market segments you are trying to attract.
- Find an internationally renowned, experienced communication and advertising agency or staff to handle your global marketing communication.
For Marketing communication strategies contact Chipo on firstname.lastname@example.org