Comparative International Marketing Assignment Example | Topics and Well Written Essays - 3500 words

Comparative International Marketing - Assignment Example It is a well known fact that the famous and well known brands make use of multiple brand elements. For instance, Nike makes use of the ‘swoosh’ logo, ‘Just do it’ slogan and the legendary ‘Nike’ name based upon ‘winged goddess of victory’ (Wrenn, Kotler, & Shawchuck, 2009). Therefore, in this regards, it can be stated that the most recognized global brands tend to possess the various brand elements such as name, logo, and slogan as well as brand story. The six main parameters for choosing the brand elements are that they need to be meaningful, likable, memorable, adaptable, transferable and protectable (Wrenn, Kotler, & Shawchuck, 2009). Reasons for Preferring Global Brands In particular, the brands that operate across international borders and are widely recognized all over the world are generally categorized as global brands. Researches on global brands such as Adidas, Zara, and Nokia among others have established their benefits i n comparison to other brands. It is often assumed that the global brands tend to provoke greater favorable affect. They are perceived to be of considerably superior quality and thus enjoy greater recognition as well as trust. They have also been found to be evoking luring global myths and tend to have greater advantages in comparison to the local brands. Global brands demonstrate positive impact on brand esteem. Global brands are generally preferred by the customers because of their wide accessibility. These brands are well known, standardized, more multi-ethnic, and highly authoritative and are also observed to be depicting more social responsibility in comparison to other brands (Dimofte, Johansson, & Bagozzi, 2010). Role of Global Branding To Firms One of the significant advantages to the firms from global branding has been economies of scale. The companies are likely to benefit from huge economies of scale that can be generated in all parts of the business methods. Large economi es of scale can be created with a comprehensive focus on Research & Development (R&D) efforts in a few of the international locations, the rationalization of the production methods and the standardization of the marketing program. The second most significant benefit to the firms from the global brands is the generation of the unique global image. This helps in the reduction of the costs in the communication area. The other benefit of the global brands to the firms is that there will be increase in the sales of the companies since the travelers will view their preferred brands being available at other markets as well. The trade channels are likely to accept a global brand that has been advertised in their market (Girboveanu, n.d.). It can be stated that the global brands tend to be beneficial for the firms as they are largely driven by a single focused strategy in their globalised operation. Benefits of Standardization For Certain Brands Even though there is high demand for the local products owing to the economic growth taking place as well as anti-globalization sentiments, it has been observed that the global brands and products are generally standardized. A few of the international products that have been standardized are Gillette razor blades along with other brands such as Sony and Benetton. The significant pros of