How Companies from Emerging Markets Can Build Global Brands
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One of the most critical steps in promoting and marketing a product is to create brand awareness, and it is especially crucial during the launching process. Brand awareness is the degree of association that customers form between a product and a brand. The primary goal of building brand awareness is differentiation from competitors, and during the international marketing process, it is important to consider alternatives to boost and create brand awareness because products that maintain a high level of recognition and are correctly associated to the company’s values are likely to generate more sales. If we think about it, building a brand means to gain and reinforce our costumers’ trust, and we need to create the right way to communicate and advertise our products.
Companies from emerging markets striving to establish the right perception of their products and trying to be recognized internationally have problems transmitting the proper emotional connection to their costumer because products from emerging markets are more likely to be framed as low quality and fail to create the appropriate balance between sophistication, price, and functionality. In other words, they fail to establish international appealing (Kumar, 2015).
Successful international brands are characterized by their assertiveness in creating unique, high-quality products and experiences, and because they can convey universal appealing. Global brands with universal appealing have become a symbol of our current global culture where everybody wants to experience the feeling of being citizens of the world. In the advertisement, it is essential to pay attention to the emotional connection between brands and customers, which represents an excellent opportunity for companies in emerging markets trying to found a successful-international image. For example, well-established international brands are generally recognized for their social responsibility; they communicate their concern about environment and society (Holt, Earl, and Taylor, 2004).
Consumers tend to identify themselves with brands as symbols of cultural ideas (Underhill, 2008). Therefore, companies from emerging markets can use as a tool to reach the right brand awareness specific cultural and geographical characteristics. For example, Tequila. This brand has been built under the influence of Mexican’s cultural uniqueness, and its geographic advantage since the primary source of this beverage can only be grown in specific areas of the country.
In conclusion, marketing and branding play an essential role in defining the success of products. When building global brands, it is important to consider what kind of values the firm is conveying. People will be more like to be identified whit products that inspire them and gives them an emotional motive to believe in them.
References
TED. (2015, February 23). How to boost a brand in an emerging market? | Dr. Nirmalya Kumar | TEDxGateway. Retrieved from
D. Holt, J. Q. Earl, and L. Taylor. (September, 2004). How Global Brands Compete. Harvard Business Review. Retrieve from: https://hbr.org/2004/09/how-global-brands-compete
P. Underhill (December 30, 2008). Why We Buy: The Science of Shopping--Updated and Revised for the Internet, the Global Consumer, and Beyond