To position your hardware brand in the global market you must follow a series of strategies, know the culture and the way of operating at the destination and, in addition, be clear about the pros and cons of such actions. If in your hardware business you need to answer these and other questions, do not miss our post about the advantages and obstacles of global branding or position your brand globally.
What do we mean by Global Branding?
Global Branding is a marketing term that refers to managing a brand not only in your home country but in other regions. The objective of this tactic, which is also called international branding, is to position your brand globally.
At first glance it may seem simple. But if you think about it, you’ll soon realize that showing your brand’s identity without losing its values in another country can be challenging.
Key points to consider when carrying out a global brand strategy
The point on which the entire Global Branding strategy should revolve is to decide which aspects of the brand should also be maintained globally and which should be adapted to each region or country in which it is going to operate. In addition, we will look at the following sections:
- Consumer and competition analysis. We must plan how they are intended to see us, how we want the user to see our brand.
- Study in detail of the different markets as well as their particularities.
- Distribution systems. They can vary from country to country.
- Brand identity, values, mission and brand vision must be perfectly defined.
Top advantages of positioning your brand globally
Make your brand known to individuals and companies in different countries has, among others, the following advantages:
- Increases brand range. More customers and markets are reached. Sales grow.
- Following such strategies allows a company to leverage the economy on a global scale.
- It is an opportunity to detect markets niches and new ways to grow the business.
- Improves brand perception for the consumer. More confidence is generated by knowing that it is a company that operates successfully in other countries.
- The product or service offered improves giving more value to users. Other than that, competition which, by operating in a global market is also going to be greater, could not be overcome.
Main obstacles to positioning your brand globally
Not everything was going to be advantages when it came to position your hardware brand globally. Entering other markets also has several drawbacks:
- Conquering other markets is a challenge as well as a logistical and marketing investment.
- The strategy to be followed will not be the same for all countries. What works on one may not be right for another.
- You should know in detail what culture, habits and lifestyle are like. You should also understand how to work in each region.
- On the other hand, local laws and economy must be considered in order to operate according to their rules and requirements.
- The integration of teams, if local workers are to be available, will be necessary. In other words, you will have to learn to work with teams made up of people from different cultures.
IBMH is China’s leading furniture and construction hardware consultancy, with business management across 5 continents, and we can stay by your side to help you deliver the product your target markets need. If you want to guarantee success in your imports of furniture hardware and construction from China, count on the experience of more than 20 years of IBMH. Contact us today and we’ll start working for your hardware company.