Question

Why there exist global brands which are popular around the world? Share your rationale. Share at least three different ways of creating a successful global brand and your rationale.

Answer 1

There exist mini global brands across the world because of the following factors

1) polycentrism

2) Innovation

3) Price and Quality

For a successful global brand A company can follow one or more than one of the above mentioned factors which helps them in gaining the customers around the globe. for instance consider polycentrism where a company rise to mould according to the needs of the local customers and provide the products and services accordingly which can get to attract the local customers regarding the same and that is why they become successful. Another thing is innovation where accompany tries to launch new products or even new versions of the older products which are totally unique in the market and this can get to grab customer attraction and with this the companies can establish a local market. And the final one is price and quality where high quality products at lower price when compared to that of the domestic market can be a reason for global brands to become popular. These are indeed 3 of the reasons why global brands get to exist across the world and these are the three different ways in which a company can create a normal brand into a global brand and attract its customers in the way with the above mentioned rationale.