DOC PREVIEW
UGA MARK 4700 - Exam 2 Study Guide
Type Study Guide
Pages 41

This preview shows page 1-2-3-19-20-39-40-41 out of 41 pages.

Save
View full document
View full document
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience
Premium Document
Do you want full access? Go Premium and unlock all 41 pages.
Access to all documents
Download any document
Ad free experience

Unformatted text preview:

MARK 4700Exam # 2 Study Guide Chapter 10: International Branding and Promotion - Global Branding Issues o Building a global brand  Some products, such as food, are harder to brand globally because they are more culturally dependent  Industrial or luxury products with relative product uniformity more easily lend themselves to global branding  A global brand follows standard and uniform brand positioning across all key markets  Components from an integrated communication plan that needs to be executed and then maintained over many years to build on the global brand  Advertising copy tone and content, brand slogans, brand logos, brand icons such as packaging  What Products are Most Suited to a Global Branding Approach - some products are harder to brand globally because they are more culturally dependent - industrial products with relative product uniformity more easily lend themselves to global advertising  Varying Brand Image - In developing global brands, a marketing manager has to decide what brand image to project across markets - Findings show that in countries such as China, France and Belgium, where the degree of separation between high and low power status individuals is high brand images should stress social and sensory needs - Similarly, in countries where individualism is low, as in much of Asia, brand images that stress group membership and affiliation are likely to be more successful  Dangers of Global Branding - Too much standardization, rigid control from headquarters, and the inability to make allowances for the stage of market growth in each country - Difficulty imposing the same brand image that underlies the globalbrand campaign in all markets - Global brands can be seen in light of the policies of the home-country government, attracting protests and even acts of terrorism- The same brand image may be difficult to achieve in all markets - Markets in developing countries may want more practical attributes stressed, whereas higher-income markets may welcomea campaign built around intangible attributes that stress status, style, and well-being o Branding strategies  No Brand - Adv o Lower production cost o Lower marketing cost o Lower legal cost o Flexible quality and quantity control - Dis o Severe price competition o Lack of market identity  Branding - Advo Better identification and awareness o Better chance for product differentiation o Possible brand loyalty o Possible premium pricing - Dis o Higher production cost o Higher marketing cost o Higher legal cost  Private (Distributor or Retailer) Brand - Advo Better margins for dealers o Possibility of larger market share o No promotional problems - Dis o Severe price competition o Lack of market identity  Manufacturer’s Brand - Advo Better price due to more price inelasticity o Retention of brand loyalty o Better bargaining power o Better control of distribution - Dis o Difficulty for small manufacturer with unknown brand or identityo Brand promotion required  Multiple Brands (In One Market) - Advo Market segmented for varying needs o Creation of competitive spirit o Lower inventory costo Avoidance of negative connotation of existing brand o More retailer shelf space gained o No damage to existing brand’s image - Dis o Higher marketing cost o Higher inventory cost o Loss of economies of scale  Single Brand (In One Market) - Advo Marketing efficiency o More focused marketing permitted o Elimination of brand confusion o Advantage for product with good reputation (halo effect) - Dis o Market homogeneity assumed o Harm to existing brand’s image when trading up/downo Limited shelf space  Local Brands - Advo Meaningful names o Local identification o Avoidance of taxation on international brand o Quick market penetration by acquisition of local brand o Variations of quality and quantity across markets allowed- Dis o Higher marketing cost o Higher inventory cost o Loss of economies of scale o Diffused image  Worldwide Brand - Advo Max market efficiency o Reduction of advertising costs o Elimination of brand confusion o Advantage for culture-free product o Advantage for prestigious producto Easy identification/recognition for international travelers o Worldwide uniform image - Dis o Market homogeneity assumed o Problems with black and grey markets o Possibility of negative connotation o Quality and quantity consistency required o LDC’s opposition and resentment o Legal complications o Brand Extensions  A new product can be introduced with lower incremental advertising expenditures by using a well-known and previously established brand names  Allows a firm with an existing presence in overseas markets to quickly establish its new products  Using a well-known brand name with a reputation for quality - Extend aura of high quality to the new product - Allow new product to be introduced with lower incremental advertising expenditures - Comfort level and familiarity associated with a well-known brand can motivate customers to choose the new product over a competitor’s - Building on company image and expertise - Communicating unique or designer attributes  Ways - Launch the same product in a different form - Adding a brand name to related products often used together (companion products)  Dangers in Brand Extensions - Original brand and product may be damaged when the brand image is extended to undesirable products and settings - There must be a fit between the original product and the proposed product/brand extension - Private Branding Issueso Occurs when a manufacturer cedes control over marketing to a retailer or distributor such that the manufacturer supplies goods, but the retailer sells thosegoods under its brand names o Advantages  Private branding provides a quick and relatively low-cost approach to penetrating foreign markets  Globally, private labels have increased in prominence because their quality have improvedo Disadvantages  The seller fails to establish any relationship with the ultimate buyer and, therefore, has little control over the marketing relationship  No say on the prices charged and receives little direct feedback from the market o Manufacturer of consumer goods cedes control over marketing to a retailer or distributor  Manufacturer supplies goods  Retailer sells those goods under its own brand names  Original manufacturer’s identity


View Full Document

UGA MARK 4700 - Exam 2 Study Guide

Type: Study Guide
Pages: 41
Documents in this Course
Load more
Download Exam 2 Study Guide
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...
Login

Join to view Exam 2 Study Guide and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Exam 2 Study Guide 2 2 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?