Consumers today have more options for buying than ever, which can sometimes lead to information overload and increased insecurity. As a result, consumers are seeking out a brand with the values, quality, and authenticity they can remain loyal to. According to CNBC, there are seven important keys to help build a strong brand:
globalEDGE Blog - By Tag: global-marketing-series
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Expanding overseas to new markets can be one of the most crucial decisions a business makes. Often, expanding internationally is what can make or break a business. International expansion consists of more than simply setting up shop in a new country. The expansion process must be purposeful and must be prepared for, otherwise the business will see more money being drained through this new exploration than made. The following is a collection of observations and tips regarding challenges in global marketing and expansion.
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Brand is bond in the world of business. The first thing we think of when someone mentions a company name is not their most recent financial statements or their internal initiatives to cut costs or boost R&D. The first thought is of the brand that company has built. Take for example, Nike. When someone mentions Nike, by and large it conjures images of cutting edge athletic wear and oozes cool. It is clear that brand is crucial to a company’s success, and while scores of other factors go into success with international business, one of the key components is building a global brand. You don’t want, however, to automatically assume that one broad brand for the entire world will be the perfect strategy for your particular company. Instead, in most cases it makes much more sense to approach different markets in varying ways.
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In a blog post for Cisco, EMEA & Russia marketing director Dr. Christine Bailey explained the omnipresence of digital marketing in the current business landscape: "we’re no longer doing ‘Digital’ Marketing, we’re simply marketing in a digital world." In other words, the appellation 'digital marketing' has become unnecessary; the world is so thoroughly digitized that all corporate marketing actions must align with digital spaces, not just run parallel to them. To be a successful global business in the 21st century, competent utilization of digital platforms is essential. This means not only a complete understanding of analysis and content strategy principles, but awareness of these concepts as they pertain to countries the world over.
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This week, the globalEDGE blog is taking a look at international marketing and its implications for businesses, in a five part series. For companies conducting business in several countries, a strong marketing strategy can be extremely beneficial, connecting the brand with ideas about the company, such as trust or innovation. An effective strategy can bring about cost savings and introduce competitive advantages, which can be crucial for a company attempting to move into new markets.