While the Japanese consumer may not want to see brands from outside of their home country, the Indian consumer finds global brands appealing (Goddard, 2010; Kumar, 2003). Wallström, Steyn, and Pitt (2010) shed additional light on the appeal of brand names to the female Indian consumer highlighting that brands can help the consumer express herself, specifically highlighting the users wealth and social status. Raman et al. (2003) noted the attractiveness of global brands to the Indian consumer, especially those with English and Western heritage and association. Javalgi, Granot, and Brashear Alejandro (2011) also found the Indian consumer open to foreign brands. With the Indian consumer looking for global brands, the company entering the Indian market can retain their global brand name, tout the country of origin, and communicate prestige and status with their positioning. Chandra, Rau, & Ryans (2002) found that companies like Procter & Gamble tended to standardize their brand’s positioning for products sold in the United States and to upper class Indian…
Popular brands have a larger scope in terms of the number of stores around the world.…
* Emerging markets have become important for marketing a wide variety pf products and services. The growing of midle class in these countries implies subsantial demand for a variety of consumer products.…
This paper will discuss the implementation strategies to include factors influencing local and foreign buyer behavior. Discuss the difficulties encountered when trying to research and understand local buyers. The implementation strategy will address which models of consumers’ behavior might be used to examine buyers in local markets and the importance of considering cultural elements to apply these models effectively. This paper will also discuss standardization strategies to include the difference between localization, adaptation and standardization of a global product or service. Discuss the key factors that drive a successful globalization of a new product into a foreign market. Discuss the pros and cons of standardization. Explain methods of integrating a global brand to both local and foreign markets…
Branding, pricing, and distribution are all integral parts of a strategic marketing plan. Each segment of the plan needs to be developed individually with the entire culmination of the plan in mind. In other words, each segment should be a link in the chain to a completed marketing strategy. The ultimate goal is to reach a successful culmination of all three tiers that will have a successful impact in introducing the brand, pricing it correctly, and forming a distribution model that will maximize the competitive advantage to the company or service in question. This report will outline the steps in developing a local branding outline as well as an international branding strategy .The idea behind branding is to differentiate your product, value, quality or service from your competitors, and make it more readily identifiable to the end user. There are at least four questions that need to be asked before implementing a branding strategy. The first of course is whether to brand the product vs, a no brand decision. The second decision would be to use a manufacturers brand vs. a private label strategy. The third question entails whether to go with a single brand vs. multiple brands. The final decision is to decide whether to brand in a local market or a global market or a combination of both. Branding in a global market is much more complicated than branding in a local market. When branding in a global market. Culture becomes a major consideration. It is generally wise to chose countries that have similar or closely related cultures and, or language skills to expand your brand globally. International marketing is the last frontier of the marketing discipline. International marketing is yet to be fully explored but is being increasingly tested to reach an ever growing sea of future consumers.…
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.…
It is very important for an American multinational company to present their products according to the local tastes because food is an integral part of culture.…
Nowadays, the market is becoming progressively globalized, it is therefore imperative for a company that wants to compete globally to have a strategy concerning the adaptation of its product to the needs of the foreign market. In fact, it is claimed how fundamentally important it is for a company to choose the correct product to plan the internationalization process (Valdani and Bertoli, 2006). The choice of the product it is extremely important because it can allow identified market areas, including the clients and the rivals. Actually, the product’s choice affects the way it enters into a foreign market as well as other decisions regarding the other variables of the marketing mix.…
Batra, R., Ramaswamy, V., Alden, D. L., Steenkamp, J. B., & Ramachander, S. (2000). Effects of brand local and nonlocal origin on consumer attitudes in developing countries. Journal of Consumer Psychology, 9(2), 83-95.…
A company may opt to expand outside its domestic market for any of four major reasons:…
Table of contents • Executive Summary……………………………………..……………………………………… 08 Section I • Introduction to Private Labels………………………………………………………………09 • Background: Evolution and Emergence of Private Label………..…………… .11 • Review of Literature…………………………………………………………………………… .13 Section II • Research Methodology……………………………………………………………………….. 18 i. Objectives of Research…………………………………………………………………
“Consumer purchases are strongly influenced by culture, social class, personal and psychological factors. Marketers cannot control such factors, but they must take them into account”…
MARKET OVERVIEW A D COMPETITORS ..................................................... - 6 3.1 3.2 3.3 3.4 3.5 3.6 Singapore Demographics ........................................................................................ - 6 Consumer Preferences in Singapore ..................................................................... - 10 Trends in Singapore TCM Market ........................................................................ - 12 New Product Opportunities in Singapore TCM Market ....................................... - 14 Regulatory Environment ....................................................................................... - 17 Competitors ........................................................................................................... - 18 -…
With increasing globalization, local retailers find themselves having to compete with large foreign players by targeting niche markets. To excel and flaunt as a market leader in an ultramodern era and a globalize world, the organizations must strive to harvest from its marketing strategies, benchmarking and company quality policy.…
Social/Cultural factor play a deciding role in the companies’ product ranges sold in a particular country. The social environment including the cultural norms, the demography and population which helps to determine its product ranges. Product differentiation and localization becomes crucial if the host country and the companies’ original country are culturally far away from each other. Cultural distance includes…