The rapid changes of our time lead to conflicts between cultural traditions and new ways of life. Career advancers spend more time in the office, they often go on business trips, they have less time for themselves and their families. The lack of time changes everything from eating habits to family orientation, the way of communicating and consumer behavior. And in many international markets, foreign influences, industrialization or massive urbanization are turning even ancient traditions upside down. Individualization is increasing and consumer behavior is spreading, particularly in the middle classes around the globe, which is intended to showcase the newly acquired status.
Insiders have known it all along: When foreign companies succeed in growth markets, half of the success factors are directly related to the adaptation or localization of key elements of the brand strategy. The key question is how best to adapt a brand to local expectations and requirements. Based on multiple years of consulting experience, we at Globeone have developed the so-called market-driven positioning process. This multi-stage process ensures that all relevant internal and external factors are taken into account in the analysis and development of the positioning strategy. The result is a positioning concept that is actually tailored to the needs of consumers and at the same time protects the brand itself from overstretching.
The successful positioning of a brand is part of the high art of marketing. Based on complex factors, a concept needs to be developed that supports branding in the minds of consumers in the local target market. In the first part of our blog series we explained the most important strategies for the global expansion of brands. Against this backdrop, brands basically have the possibility to choose between a global, hybrid or local positioning. It is therefore important to determine the right degree of adaptation to the local market on the basis of suitable criteria.
The House of Communication in New York has been open since the beginning of May and, with 65 colleagues and exciting customers, it is already “fully operational”. It also has a roof terrace with a spectacular view of Midtown Manhattan.
Again and again, brand managers underestimate the simple fact that brands are first and foremost created in the minds of local consumers. The results don´t always meet the expectations of the top management at HQ. A Volkswagen may be a mid-size car in Germany, in China it is definitely a premium car for most buyers and perhaps even a luxury car in India. The development of an international positioning strategy therefore requires a thorough analysis of one’s own brand perception in the target market. This is necessary to ensure that the communication of one’s own strengths can be aligned with consumer needs.
Despite the protectionist demeanor in Washington D.C., German companies have realized record investments abroad in 2017, according to the German Chambers of Commerce and Industry (DIHK). The degree to which a company is prepared to adapt to local market requirements decides which path for the market entry is chosen. Following, we briefly present the four most important strategies.
By this I mean the connection of change and velocity and thus the enormous and rapidly increasing speed of change, which has covered practically all our areas of life. Whether we are looking at politics in Germany and the world, our working environment, the media or marketing, everywhere we are exposed to an increasing – […]
The zest for life of employees is the elixir for corporate success How many times have we heard this before: “Employees are our most important asset!” Let’s be honest: Though most of the time they were just beautiful words, right? However, they are fully applicable for our future – only then will change really happen. […]
Florian Haller, CEO of the Serviceplan Group, explains in an interview with Marketing Review St. Gallen on how the agency group is positioned and on current developments in marketing. He was interviewed by Sven Reinecke, Director of the Institute for Marketing at the University of St. Gallen and Friedrich M. Kirn, CEO of MIM Marken […]
I must admit that I am biased. To me, the concept of a united Europe is the most beautiful vision to have been developed after World War II. The EU is the means of making this vision a reality where we can enjoy free trade, borderless mobility, pan-European education programmes and standards such as Erasmus […]