The process of adapting a company's marketing methods to the conditions of different countries is referred to as global marketing. It encompasses the entire process of planning, developing, positioning, and promoting your items in a worldwide market.

1. BRANDING STRATEGIES IN A
GLOBALIZED WORLD
In this 5G era, where 65.6 % of the world's population has
internet access, it’s easy for consumers to get exposed to new
brands and to know about new participants in the market.
Dhanitya Bhati
Strategic Consultant
WRITTEN BY

2. In today's world, company rivalry is on the rise,
providing consumers with a plethora of options
from which to pick after conducting an extensive
study, and thus it’s crystal clear that companies
should focus on branding strategies to build trust
for the brand in consumers.
Brand equity is a useful tool for understanding
prior activities taken by marketers in developing
brand strategies; it also provides guidance in
developing future plans.
By analyzing current consumer reactions towards
the brand, it is possible to determine how well
previous branding strategies were designed. It
will also provide a clear image of where we are
and what we need to do to achieve our intended
goals.
However, it is clear that brand equity is directly
proportional to brand knowledge, now a
question will pop up in your mind that what is
brand knowledge?
“Brand knowledge is a combination of brand
awareness and brand image.” Brand awareness
refers to the brand’s ability to get recognized by
consumers in any environment, whereas brand
image refers to the logo, slogan, style, hospitality,
etc of a business. Customer-based brand equity
creates a strong brand and this is achieved when
brand awareness and brand image are both at
their hike.
Gone are the days when marketing philosophies
were centered around production and product
concepts. Earlier it was believed that profit can
be maximized by producing at large scales.
Availability and affordability of products were
considered a success mantra for firms,
apparently, it was noticed that customers started
looking for products with high quality, and this
belief reconfigured into a belief that customers
can be attracted by producing high-quality
products with superior performance and features,
thus product improvement became a new
success mantra for firms.
In the current context, this notion has been
further reconfigured; the increased business scale
has enhanced the position of firms in terms of
the supply of goods, resulting in increased rivalry
among sellers. Due to which product quality and
availability did not guarantee business success
anymore, as a result, greater emphasis is placed
on attracting and persuading customers to buy
the product. Customers are considered GOD of
the market, and all strategies are designed
keeping them in mind. Furthermore, customer
satisfaction has become the new success mantra
for firms, and the only way to increase customer
satisfaction is by focusing on branding strategies.
In short, we can say that product-centric
strategies are now transformed into customer-
centric strategies.
CUSTOMER-CENTRIC VS PRODUCT-CENTRIC
IMPORTANCE OF BRAND EQUITY

3. Larry Percy conducted an experiment on brand
equity using Beer as a product The goal was to
learn about consumer reactions to identical
brands in two distinct settings. In the first
scenario, the customer had no awareness of the
brand, and in the second scenario, the brand
name was not given. When consumers were
unaware of the brand, the results revealed that
they were very critical of their favorite beer. After
brand disclosure, a favorable reaction was
observed, leading to the conclusion that brand
knowledge plays an important role in
comprehending customer-based brand equity.
Branding strategies stress on making a strong
customer trust, these strategies can only become
successful when customer minds will be studied
and the point to note is that studying customer
minds should be a continuous process and not a
onetime process as perceptions and needs of
customers change with time in this fast-
transforming world.
After a detailed study of customers' minds,
companies should first connect the needs of
customers with the product which they will offer
and after that, they should focus on creating a
connection with their customers, connection of
loyalty, reliability, and quality service. Focusing on
customer satisfaction will help in forming strong,
long-term, and healthy relationships with
customers, and that will ultimately lead to the
creation of a brand.
Every company aspires to be a multinational
company, and for this, they focus on becoming a
global brand. Communication and migration of
labor all around the world is an easy task now, it
takes seconds to transfer information from one
continent to another. All companies are looking
forward to taking advantage of these
phenomena and expanding their business all
around the world.There can be various reasons
because of which a company would like to be
globalized.
Thinking about global Branding right before
expanding the business in other countries can do
wonders. Marketing strategies must be
formulated with the global market in mind. It
isn’t that easy as it sounds, making a global brand
will make a company deal with different kinds of
customers in different countries/parts of the
world.
BRANDING STRATEGIES IN A GLOBALIZED WORLD

4. They divide a vast geographical location into
several segments. Pepsi, for example, has formed
four regions inside the United States to focus on
particular market segments and construct a
marketing program. A typical large US city has an
Asian, Hispanic, and African American population
Thus Pepsi has divided them into segments in
order to make marketing strategy as per each
segment.
People from different segments belong to
different cultures and demography. Breaking
them into segments will make branding in a
diversified population easy. Companies must
develop different marketing strategies for
different markets. From the time a product is
introduced to the market until the time it is
publicized, a fresh marketing strategy is required
in each area.
Every market has its own culture; for example, in
Australia and the United States, carbonated
drinks and beers are popular, but in India and
China, similar goods are not. To sell the same
product in multiple markets, the firm needs to
make modest adjustments and additions to the
product based on the tastes of the consumers in
each area. In addition, after thoroughly
researching each market, the firm may design a
fresh marketing plan for that area.
Other elements, aside from consumer behavior
that will impact the formulation of marketing
strategies are social, political, and regulatory
factors, thus businesses should also take them
into consideration while building a strategy.
The behavior of customers, their preferences,
their mindsets vary from one geographical
location to another, thus ensuring customer
satisfaction to build a strong customer trust
becomes a difficult task in the global market.
Thus, before studying the global market as a
whole for the formulation of strategies, it is
important to study different regions, market
segments, their profile, etc. carefully.
To tackle this situation many companies are
following the regionalization concept.
Globalization comes along with a vast customer
base, with different behavior and perceptions,
thus companies divide the large market which
they will be dealing with into small segments
based on similarity

5. In order for a brand to flourish beyond
geographical boundaries, firms must devise
marketing strategies that can generate
worldwide consumer-based brand equity. And, in
order to do so, marketing campaigns must
highlight points of difference as well as points of
similarity across boundaries. Furthermore,
businesses must recognize that brand creation is
arduous and time-consuming. And companies
should focus on building and implementing a
worldwide brand equity measuring system to
ensure that the focus is constantly on developing
strong consumer-based brand equity.
The brand equity made after years of hard work
can burn in a few hours due to the spread of bad
news. Thus, the company can no longer afford to
wait for a few weeks for brand tracking results.
In this technological world, news takes seconds
to spread across the globe thus to keep a
constant track of branding data is essential, but
this is but obvious that doing this manually is not
possible thus brand tracking is now automated,
some technological development has resulted in
the creation of tools that allow businesses to
gather indications such as buzz volume and user
mood in real-time with up to 90% accuracy if the
proper method is applied to decipher the
context of a particular statement.
Quality research was utilized by businesses to
develop branding strategies, but as the size of the
organization grows, it becomes more expensive
and time-consuming to employ qualitative data;
as a result, researchers shifted to quantitative
data, which frequently ignored customer
demands.
This problem is being solved by new
technological developments. New technology is
successful in solving this issue. Some web-based
and mobile applications have been built
supported by AI digital diaries and online
ethnography, enabling brands to connect with
consumers’ intrinsic motivations at a fraction of
the cost and time. Now brands can get consumer
feedback within a day.
Personalization with customers is vital to
company success; it will assist in understanding
their personal taste problems, likes, and dislikes,
and therefore may aid in the design of branding
strategy.
Previously, all brand-related operations and KPIs
were based on average customers, but with
improvements in data quality and analytics,
messages and metrics can now be tailored to
specific micro-need stages and occasions. Next-
generation MROI modeling and granular growth
mapping enable brand performance to be
tracked and improved at the individual
consumer level.
TECHNOLOGICAL ADVANCEMENTS IN BRAND EQUITY.
METRICS
Measure Everything that Results in Customer Satisfaction
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