What are the factors due to which a local brand becomes a global brand. (500 words)
Answers
Answer:
A company's international brand structure is shaped by three sets of factors: firm-based characteristics, product-market characteristics, and underlying market dynamics. An effective global brand structure reflects parsimony, consistency, and connectivity.
Global brands are brands that are recognized throughout much of the world. Companies intending to create global brands need to do the following: ... Through research, understand if there are any part's of your brand's identity that won't work in a given country or for a give language.
There are five steps to your action plan for going global:
Conduct an internal analysis to examine how well you are prepared to approach the global markets. Conduct a market analysis for your products. Formulate a business strategy. Choose the mode of entry.