Iscuss the Influence of Globalization and Localization
* Discuss the influence of globalization and localization when it comes to marketing brands.
Modern business imperatives dictate that companies adopt a strategy of marketing both locally and globally if they have to compete or capture a significant portion of the market. The concept of global village means that the global market is shrinking and barriers that used to be impenetrable are breaking down allowing for businesses to market their brands out of their traditional market strongholds. The effects of this is that companies will make a global presence but with a local flavor and close attention to the new local communities or markets that they are seeking to acquire.
A case in point is the KFC brand. It has the advantage of solid brand name which gives it an instant recognition and market share, but for it to make a significant inroad and capture a majority market shares, it must think locally by tailoring its menu, management and marketing to the local communities. This seems to be the strategy employed by David Novak of the Yum brands in China. He not only realized that a local presence through local management staff and menu makes good business sense, it also ensures the survival of the brand away from its home base.
Would the same success be achieved with a less-visible brand? Explain your rationale from the receiver’s perspective.
A less visible brand will find it difficult to make an inroad into the market due to the fact that consumers will have a bit of trepidation to accept the brand. The brand will have to work itself up by creating loyalty, employing locals, improved quality and community involvement to gain acceptance. Through advertisement, promotional offers, affordable price and incorporating local delicacies in its menu, a lesser known brand can become a well-known franchise and a visible brand as well.
* What steps might you take to achieve the same kind of success with an almost unknown brand?
I think the lesser known brand will
Modern business imperatives dictate that companies adopt a strategy of marketing both locally and globally if they have to compete or capture a significant portion of the market. The concept of global village means that the global market is shrinking and barriers that used to be impenetrable are breaking down allowing for businesses to market their brands out of their traditional market strongholds. The effects of this is that companies will make a global presence but with a local flavor and close attention to the new local communities or markets that they are seeking to acquire.
A case in point is the KFC brand. It has the advantage of solid brand name which gives it an instant recognition and market share, but for it to make a significant inroad and capture a majority market shares, it must think locally by tailoring its menu, management and marketing to the local communities. This seems to be the strategy employed by David Novak of the Yum brands in China. He not only realized that a local presence through local management staff and menu makes good business sense, it also ensures the survival of the brand away from its home base.
Would the same success be achieved with a less-visible brand? Explain your rationale from the receiver’s perspective.
A less visible brand will find it difficult to make an inroad into the market due to the fact that consumers will have a bit of trepidation to accept the brand. The brand will have to work itself up by creating loyalty, employing locals, improved quality and community involvement to gain acceptance. Through advertisement, promotional offers, affordable price and incorporating local delicacies in its menu, a lesser known brand can become a well-known franchise and a visible brand as well.
* What steps might you take to achieve the same kind of success with an almost unknown brand?
I think the lesser known brand will