Venturing into global markets is inevitable for brands. A brand is global when it is visible and sold at every possible place in the world. The consumer around the world become aware of various international brands if they travel worldwide or just watch a satellite television at home.
Before you take the brand in the global market, you need to cater to various aspects of the global consumer such as −
Culture of Consumers −
● The values the consumers follow
● The customs they observe
● Particular symbols and language they use
● The tone of their behavior
● Consumer’s level of income and buying power
Economic status of the country in terms of −
● Power supply
● Communication systems
● Distribution systems
Laws and Regulations enforced −
● Is it lawful there too?
● Political stability of the country
When the brand transits from local to global, it competes with other global brands. For example, Nokia battles Motorola and Samsung. The brand managers must manage the transnational brand to remain superior on the essentials such as the brand’s price, performance, features, and imagery.