A global brand is one which is perceived to reflect the same set of values around the world. Global brands transcend their origins and create strong enduring relationships with consumers across countries and cultures. They are brands sold in international markets. Examples of global brands include Facebook, Apple, Coca-Cola, McDonald’s, Mastercard, Gap, Sony and Nike. These brands are used to sell the same product across multiple markets and could be considered successful to the extent that the associated products are easily recognizable by the diverse set of consumers.
Benefits of global branding
In addition to taking advantage of the outstanding growth opportunities, the following drives the increasing interest in taking brands global:
- Economies of scale (production and distribution)
- Lower marketing costs
- Laying the groundwork for future extensions worldwide
- Maintaining consistent brand imagery
- Quicker identification and integration of innovations (discovered worldwide)
- Preempting international competitors from entering domestic markets or locking you out of other geographic markets
- Increasing international media reach (especially with the explosion of the Internet) is an enabler
- Increases in international business and tourism are also enablers
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