1.0 Origin of the Report
A brand is the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, color combination or slogan. The word brand began simply as a way to tell one person's cattle from another by means of a hot iron stamp. A legally protected brand name is called a trademark. The word brand has continued to evolve to encompass identity - it affects the personality of a product, company or service. Global brand
A global brand is one which is perceived to reflect the same set of values around the world. Global brands transcend their origins and create strong enduring relationships with consumers across countries and cultures. They are brands sold in international markets. Examples of global brands include Nike, Coca-Cola, McDonald's, Marlboro, Levi's, Shell, etc. These brands are used to sell the same product across multiple markets and could be considered successful to the extent that the associated products are easily recognizable by the diverse set of consumers.
Benefits of global branding
In addition to taking advantage of the outstanding growth opportunities, the following drives the increasing interest in taking brands global: • Economies of scale (production and distribution)
• Lower marketing costs
• Laying the groundwork for future extensions worldwide • Maintaining consistent brand imagery
• Quicker identification and integration of innovations (discovered worldwide) • Preempting international competitors from entering domestic markets or locking you out of other geographic markets • Increasing international media reach (especially with the explosion of the Internet) is an enabler • Increases in international business and tourism are also enablers Brand Equity
Is the added value endowed to products and services? This value may be reflected in how consumers think, feel and act with respect to the brand, as well as the prices, market share, and profitability that the brand commands for the firm. Brand equity is an important intangible asset that has psychological and financial value to the firm. Sources of brand equity
Customer based brand equity occurs when the consumer has a high level of awareness and familiarity with brand and holds some strong, favorable, and unique brand association in memory. Brand elements
Are those trademarkable devices that serve to identify and differentiate the brand? Most strong brands employ multiple brand...