Principles of International Marketing and Global Branding

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Principles of International Marketing and Global
Branding
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• The world is a melting pot of different cultures,
  traditions, and most importantly, people. Moving
  from one country to another, youll find that
  there are new rules and customs to learn.  But on
  a more granular level each state, province, and
  region can be drastically different from the
  next. Even neighborhoods can vary wildly in terms
  of their customs and cultures. (BBGV1322021)
• This raises the question How are you supposed to
  develop a global marketing strategy that
  resonates with all the different markets in which
  your product or service offering exists? Its not
  easy, thats for sure. There are plenty of
  examples of brands that have failed abroad or
  have had hiccups while trying to expand their
  reach globally.
•  People - Understanding Customer Behaviour in a
  Different World
• The people you are marketing to and the product
  that you are marketing go hand in hand. However,
  were leading off with the people because if you
  dont first and foremost understand who you are
  marketing to, you may end up trying to sell them
  a product they dont want and probably will never
  buy.
• So, when it comes to taking a product or service
  abroad, you first have to see if there is even a
  market for your offering.

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• Product - Altering to Fit the Needs of Your New
  Market
• If you notice that the current offering of your
  product now wont play in the new market you want
  to enter then you can do one of two things
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• A.) Decide not to sell in that market
• B.) Change your offering to meet the local demand
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• Overall, this decision is an excellent one to
  learn from for those looking to branch out to
  foreign markets.
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• Prices - Choosing a Premium or Economy Pricing
  Strategy
• For the most part, if you already have a product
  or service that is successful in one area of the
  world, the price point you use wont vary much in
  comparison to the competition in that area. If
  you have a premium product, its likely premium
  elsewhere. If you have a more affordable,
  economically-friendly product, itll be the same
  in your new market. This is for the sake of
  consistency. Its difficult to pull off being
  associated as a more expensive, premium product
  in one country, and the complete opposite in
  another. You may even risk bringing down your
  brand image as a result.
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• Promotion - Choosing Strategies That Work in This
  New Environment
• Figuring out the most effective methods for
  marketing your product or service abroad is not
  that much different than doing it domestically.
  Even if you live where youre promoting your
  product, you still have to do some additional
  research to find out where your target audience
  is and which mediums they frequent.
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• Place - Finding the Sales Avenue That Your
  Consumers Use
• Defining where youll be advertising and
  marketing your product or service is one thing.
  But finding the right place to actually sell your
  offering is another. One of the bigger questions
  you should look to answer is whether or not
  youll be able to sell your product online. 
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• Packaging - Finding the Right Look
• The way you package your product or service may
  vary a lot from country to country. When you
  determine how to package your offering, color is
  an important choice. One reason for this is
  because different areas of the world associate
  specific meanings to certain colors.
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• Positioning - Determining Which Messages Will
  Resonate With The Market
• Positioning is absolutely critical when entering
  a new market. If your initial positioning fails,
  an attempt to reposition your product can be
  costly and is not guaranteed to be successful.
  This is why its important to get it right the
  first time. A significant part of your
  positioning will be evident in the messages you
  relay in marketing campaigns. The messaging
  should be derived from your unique value
  proposition (UVP), which should be made up of the
  following
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• Physical Evidence - Getting the Ambiance and Mood
  Right
• If youre looking to enter a new market abroad
  with a service, listen up because this one is
  especially for you. Because services are for
  the most part considered intangible when it
  comes to marketing. So, if there is no product
  that can be altered or changed to fit the needs
  and wants of a new market, then you have to pay
  attention to the physical evidence in the setting
  where people will receive your service. The
  physical evidence can be broken into three
  separate areas.
• Physical Environment
• Ambiance
• Spatial Layout
• Local Teams - Dont Overlook Them
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• One of the most disappointing mistakes that
  companies make is that they hire highly
  competent, intelligent local people to serve
  their overseas markets, but then fail to consider
  their input when making strategic decisions.
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• Understanding - Making a Positive Influence on
  Your New Community.
• At the basis of all of these principles, there is
  a common theme of understanding your consumers.
  You should constantly be asking what are their
  needs, wants, pain points, and desires. 
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• Do you need help?
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• Do you also want to do
•  International Marketing and Global Branding? Do
  you need our help? You too can take a step
  forward. Contact us for more information.
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