Business Practices that Change the World
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The Strengths of Global Brands
Author: Loic Bonnaillie8 mar
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How consumers from different countries perceive global brands such as Coca Cola and Nike? When talking about global brands we could have a tendency to remember the last Mc Donalds that was wrecked by some anti-globalization activists. However the fact is that Mc Donalds feeds 52 million people in more than 100 countries each day. Therefore it doesn’t seem that global brands have any trouble to export their values. Here are some of the strengths of global brands.
A qualitative study conducted in 41 countries to identify key characteristics that people associate with global brands. The analysis reveals that consumers all over the world associate global brands with 3 characteristics:
- Quality Signal
Consumers perceive that global brands are synonymous with quality. That perception often serves as a rationale for global brands to charge premiums. Consumers also believe that transnational companies compete by trying to develop new products and breakthrough technologies faster than rivals.
- Global Myth
Consumers look to global brands as symbols of cultural ideals. They use brands to create an imagined global identity that they share with like-minded people. Therefore transnational companies compete to deliver cultural myths with global appeal. They allow customers to feel like citizens of the world, they somehow give an identity. “Local brands show who we are, global brands show what we want to be” says a Costa Rican.
- Social Responsibility
Consumers expect firms to address social problems linked to what they sell and how they conduct business.
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Based on the article How Global Brands Compete, written by Douglas B. Holt, John A. Quelch, and Earl L. Taylor, Harvard Business Review, September 2004
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Written by Loic Bonnaillie, http://bonnaillie.com , a blog on the best practices
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