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Global branding—creation of a marketing strategy

24 February, 2015 - 17:30

An important decision that international marketers must make is whether to utilize standardized marketing, treating all markets in the same manner, or customized marketing, adhering to local customs and traditions for greater effectiveness. This is an important distinction when analyzing the creation, perception, and trends in global branding. In most countries and cultures, marketers do not compete with individual products, but rather with competing brands markets. Many writers have reasoned that a standardized approach to international markets is the most desirable strategy. The main arguments include that sales will increase when a company can market a consistent product image across different geographical markets, and that cost can be reduced through the formulation and implementation of a single standardized marketing plan. Still others argue that because few markets are comparable across country lines, it is necessary to adapt the marketing mix to ensure that sufficient customization exists to satisfy consumer needs in each market. Additionally, not all companies are able to adopt a standardized strategy as its appropriateness varies from industry to industry. One must remember that even within markets there is great diversity of behavior and taste. In the face of intensely increasing competition and globalization, studies show that people increasingly prefer brands with roots in their national or regional tradition. This would indicate that most firms should lean towards marketing customization in order to satisfy the increasingly nationalistic consumption tendencies of their consumers (Bradley, 2005).