Good You’re Name Essay Example

How Global Brands Compete?

Is Global Branding important to consumers? Why and how?
Yes, in the world of global consumer markets, ‘global branding’ is indeed very important criteria for consumers while selecting any particular brand. This is because proper branding creates a perception of higher ‘value’ in the minds of the consumers. By creating a unique image in the minds of its target consumers, a particular brand can succeed being the preferred choice of the consumers.
What characteristics do consumers associate global brands with when making purchase decisions? Give examples of how global branding affected a purchase decision you have made.
While making purchase decisions, a consumer’s perception towards a global brand is that of a positive one. The consumer ‘perceives’ the globally branded product to be superior and of higher quality than its non-branded, local competitors. The best example of this is when I purchased a new smart- phone. I was looking for a mobile phone that was not only stylish but also technologically superior and with a wide range of features. In spite of having several ‘cheaper’ and ‘reasonable’ options, I decided to purchase an iPhone 6 because of its superior brand image. I knew that it would be more expensive that other mobile phones, but the ‘value’ and ‘product quality’ that I would derive from an iPhone would be unmatched!

What challenges do global markets pose for brand management?

In order to ensure that a brand is properly managed in the global markets, it is very important that the marketers analyse the micro and macro environmental factors of its target markets. A brand may be perceived as valuable way in one market and it may be perceived as ordinary in another. Marketers need to decide on those intrinsic features of the brand that can be highlighted and marketed on a global scale.

What strategies can transnational companies take to create positive perceptions of their global brands?

Transnational companies can adopt the strategies of being quality – conscious and innovative while selling their brands in the global market. My creating a price- quality inference, a transnational company can effectively sell its brand in a global market at a desired price by making some local modifications if required. Apple products are the best example of this.

What strategies can transnational companies use to protect their trademarks and patents?

Transnational companies can protect their trademarks and patents by adopting the strategy of being the watch dogs of their respective industries. They need to keep a close eye on any imitator or patent violations by their competitors. In case of any suspected violations, the company must respond by filing an appropriate law suits in the international court of law.