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Relation Between Globalization And Branding Essay

634 words - 3 pages

Globalization is about all those things that affect the reach and influence of firms, as well as governments, as they expand their horizons internationally. Firms have changed the way they participate in trade and the global economy. In rest of the world, market opportunities contrast with the slow growth of mature markets in Europe and the U.S. This has encouraged firms in the food production and distribution industries, from Deere & Co. and Du Pont/Pioneer to McDonald's and Wal-Mart, to emphasize global expansion strategies. Mergers and expansion have led to highly concentrated industries (Connor and Sheik). Vertical coordination has increased, particularly across borders. Sales through subsidiaries, affiliates, or through alliances dominate trade as a way to go global (Henderson, et al.). "As the world continues to 'shrink,' brands must expand their marketing outlooks to cater to a global consumer, while also paying careful attention to those differences that continue to set consumer segments apart," says Ira Matathia, CEO, The Intelligence Factory. In today's global economy, companies must rely on customers outside of their home market to achieve revenue and earnings goals. "Clarity and consistency of messaging are critical for successful global branding. Having Jim Gregory, the voice of branding, embrace our solutions as the tools to build and enhance global brand management is a major validation of our systems," said Judy Guido, chief marketing and communications officer, Cirqit.com. The reach of the Internet and successful global brand promotion is a winning combination in the effort to reach and retain customers across all languages and cultures. More and more, companies are acknowledging that technology plays a significant role both in increasing the effectiveness of an online and offline international presence, and in reducing the costs of globalization. The Internet offers a unique opportunity for companies to promote and manage their brands worldwide, and to reach and retain customers across multiple cultures and languages. But it also presents a new...

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