November 2012 | Marketing
Nano Tools for Leaders® are fast, effective leadership tools that you can learn and start using in less than 15 minutes — with the potential to significantly impact your success as a leader and the engagement and productivity of the people you lead.
Contributor: George Day, PhD, The Geoffrey T. Boisi Professor, Professor of Marketing; Co-Director, Mack Center for Technological Innovation; Director, Emerging Technologies Management Research Program, The Wharton School, University of Pennsylvania
Find the right balance between central and local control to gain the best of both for your global brand.
One of the most hotly debated issues companies face as they build a global presence or enter a new market is ‘Who gets control of the brand?’ Are the key decisions made centrally by corporate headquarters, or does each local market get to chart their own course for marketing, advertising, pricing, positioning, and perhaps even decisions about naming and branding their own products or services?
Some companies go with a centrally-controlled Global Brand Strategy, using a consistent brand name, targeting similar customers, and employing the same marketing strategy in all regions (think IBM or Coca-Cola). At the other end of the spectrum are companies who employ a Local Brand Strategy. They use dozens, or even hundreds, of brand names, targeted specifically to local populations, with locally-controlled marketing strategies that are as unique as the regions themselves (think Unilever or Procter & Gamble). Most companies, however, employ a Hybrid Brand Strategy that uses elements of both Global and Local.
Use the October Nano Tool for Leaders (Going Global? Know Your Customers) to determine whether a global or local strategy makes the most sense for your customers. Then use one or more of the approaches below to leverage the best of Global and Local for your brand.
Nano Tools for Leaders® was conceived and developed by Deb Giffen, MCC, Director of Innovative Learning Solutions at Wharton Executive Education. It is jointly sponsored by Wharton Executive Education and Wharton’s Center for Leadership and Change Management, Wharton Professor of Management Michael Useem, Director. Nano Tools Academic Director, Professor Adam Grant.
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