- December 16, 2014
- Posted by: Wevio
- Category: Global Branding & Design, Wevio Blog
Strong brands requires a clear strategic approach to handle the efforts involved in creating strong Global Brand. Economic Assistance The main challenge faced by the brand leaders is to focus on the short term returns. Brand is a long term asset, introduction of price, discount or freebie promotion for initial acceptance of the product may lead to brand dilution and failure in the long run. Effect of Approving There must be consistency in quality/performance, if not betterment so as to sustain the growing complexity of International market in terms of Consumers changing tastes and multiplying competition. The company must continuously innovate and maintain good customer relations though their consumer touches points, so as to create brand loyalty among existing users. Emotional Appeal Emotional appeal is essential to communicate the Brand message. Consider the number of media options available to consumers-200 or more television channels, Internet, Newspaper, magazines. 8.4 Effective Culture Culture refers to how people in a society interact, what they believe. How they make decisions and what meanings they attach to certain representations. Cultures are not static, but develop through intergenerational and interpersonal learning and experience. Economic, Legal and Political conditions Condition implies the Economic, Legal and Political conditions prevailing in a foreign market. Law related to Advertising content, product specifications, distribution options, etc vary from one country to another. The Economic condition in UK made LG play down its tagline ‗Life is Good‘ in Advertisements due to recent credit crunch. Efficient distribution channel Formation of distribution channel alliances in a foreign market. A distribution channel decision is vital and rigid, that it expensive to change, once decision is made.