MKT 510 Lecture Notes - Lecture 11: Mantra, Critical Success Factor, Brand Equity

• School: Ryerson University
• Department: Marketing
• Course: MKT 510
• Professor: Marla Spergel

Document Summary

Managing a brand over time & space, developing a market revitalizing a brand or introducing a new brand. Rationale for going international: a number of well known global brands have derived much of their sales & profits from nondomestic markets for years (ex. Advantages of global marketing programs: economies of scale in production & distribution. Disadvantages of global marketing programs: differences in consumer needs, wants, & usage patterns for. Act local. : a global brand has a clear consistent equity across geographies: same positioning, same benefits plus local tailoring if needed. Global brand strategy: to build brand equity, it is often necessary to create different marketing programs to address different market. Segments therefore we must: identify differences in consumer behavior. What they know and feel about brands: adjust branding program through: Leverage of secondary associations: building a global brand. 1: creating brand salience, developing brand performance, crafting brand image, eliciting brand responses, creating brand feelings, cultivating resonance.