At BrandingBusiness we have helped to introduce global brands such as Toyota, Huawei, Sharp and Samsung make entry into the US market very successfully by first understanding that strong brands are more than just globally recognizable.
A global brand must also be elastic enough to allow for reasonable category and product-line extensions, flexible enough to change with dynamic market conditions, consistent enough so that customer who travel physically or virtually won’t be confused, and focused enough to provide clear differentiation from the competition.
The BrandingBusiness Brand Power Index (BPI) enables us to verify and balance the universal values of the brand with both local market dynamics and the nature of the category the brand is competing in to meet all these conditions by delivering a higher standard of evidence-based brand positioning and building. It measures and assesses the perceptions of the brand in key global markets within an appropriate competitive set and then helps us to position it with precision by targeting the right strategic segment with a sustainable differential advantage.
Based on our experience we have identified three pillars that global brands must meet as they enter new markets. They are:
The most powerful brands achieve a high degree of consistency in terms of quality – they consistently deliver what they promise. That brand consistency is reflected and supported by core brand elements - the visual, verbal, auditory, and tactile elements of brand communications. Together, they create expectations in the mind of the customer that are met and reinforced by product performance.
The key word is meaningful. Across categories and markets, the most valuable brands have discovered a higher purpose that customers relate to.
Brands too narrowly defined by what they do may thrive when their product specialty is in high demand. But they're vulnerable as fads and trends change. In contrast, brands with a higher purpose enjoy sustained customer loyalty and permission to introduce other products and services.
In order to sustain a global brand’s long-term position, there must be consistent and widespread brand equity measurement on the basis of performance to establish ROI and take remedial action where necessary. It should include top-of-mind awareness, overall opinion (preference, satisfaction, loyalty, recommendation), brand image attributes, perceptions of product/service performance.