A brand cannot survive if it does not change according to the market changes. Brand management needs to cater to different branding policies to introduce the product in different countries around the world.
The market is not the same worldwide. First, the growth takes place in developing countries, then in underdeveloped countries, and finally in developed countries.
In developing countries such as India, the economic growth rate is fast and there are favorable business conditions. It is also revealed that the customer in developing countries is more brand cautious than that of in the developed countries.
In developed countries of USA and Europe, the market is matured. There is not much significant growth and innovation taking place. In such matured markets, brand needs to stimulate the new desires and new experiences of the consumer.
Brand managers need to work by considering changes in the domains of politics, economics, evolution of society, technology, consumer behavior and fads, all of which play an important role while branding in different markets.