Global Brand Management: Navigating Challenges

jaro education
17, November 2023
4:00 pm

Global branding refers to brand management in various parts of the world with the intention to maximise its recognition and strength in relevant markets. Also, known as international branding, global branding means determining how a brand wants to be perceived throughout the world and how it will position itself in the markets to achieve that vision. Its vision is more than delivering products to several countries. The idea of international branding can be transformed into tangible activities that affect customer touch points (pricing, product, promotion and place) via global brand management tactics.

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Significance of Global Brand Management

Globally recognised brands frequently have bigger market shares due to a broader client base. Global branding enables businesses to acquire more customers, increasing both revenue and market share. Increased market share may also boost a brand’s overall value or financial worth. There are numerous advantages of global brand management, which are as follows:

Better Bargaining Power

A global brand builds prestige through time, strengthening its reputation in several worldwide marketplaces, which leads to bargaining power with which the brand may negotiate favourable terms with partners, clients and suppliers.

Maximum Reach

Global brand management’s most obvious benefit is maximising a brand’s reach. With the global reach, an organisation becomes well-known across the world, attracting and converting more prospective clients and thereby increasing sales.

Improved Brand Appreciation

Companies that prioritise expansion are likely to have a valued worldwide reputation. They become quality icons, especially when compared to local brands. As a result, the brand’s impression improves significantly in a number of markets. Alongside this, a global brand management strategy promotes its identity, gains people’s confidence and reinforces it in the locations where it operates with a better approach.

Improved ROIs

Global brand management opens more opportunities to companies for marketing and branding efforts. Instead of creating many ads for distinct locations and markets, global businesses may launch a single campaign for a larger territory. This method significantly reduces the company’s expenditures on advertising, packaging, and promotional materials. They may concentrate on choosing the best advertising agency and assembling global talent. After doing so, a company can work with more efficiency, and less expense and achieve a higher ROI.

Greater Brand Value

When global brand management works well, it increases a company’s brand value. Most worldwide companies, if you think about it, are a part of what you do every day. So, when a firm develops globally and gains brand awareness from individuals in different nations and cultures, the brand itself becomes the company’s most valuable asset.

Eliminates Competition with Local Brands

One of the greatest advantages of global brand management is overcoming or eliminating local competition. Global brands may immediately establish a competitive advantage over local competitors by implementing a strong branding strategy, which leads to an increase in customer awareness and revenue.

Opens New Opportunities

When a brand goes worldwide, it opens up exciting and new possibilities. For example, a certain company’s product may end up satisfying an unmet demand in some regions of the world. The corporation may then enter this market unopposed and establish itself as a resource for the local populace. Such brands, with an ambitious expansion plan, might eventually become synonyms for the category they serve in some countries.

Challenges of Global Brand Management

Technology Adoption

In terms of adopting new technologies, every nation is to be at a distinct point. This poses a significant challenge to the creation of international branding. Data plans, changing legislation, infrastructure and regional technological preference (in the event of brand selling mobile digital components) play important roles in campaign strategies. Brands may opt to fund customisation technology to focus on specific channels and deliver appropriate and relevant offers to their customers.