Commercialization of products under one brand name and occasional use of local brands
- Reasons to use a global brand name
- Using its experience
- Cost savings
- Convergent markets
- Worldwide phenomenon of increased travel
- Similar segments
- Using a local brand name is sometimes better
- Some `truly global brands'
- If it works locally, no need to use a global brand name
- Constraints of global brand names
- Local brand names advantages
- Commentary on the trends towards global brands
The aim of this essay is to understand the requirements of formulating unique brand names for products and the best way to market and use the same. We will start by analyzing the reasons as to why a company should market its products under a unique global brand name and subsequently evaluate these key factors, and finally go on to prove that under some circumstances it is better and a lot more convenient to use different brand names in different countries.