As Globalization continues to break down borders is there a chance that brands will become synonymous the world over? For instance, a number of celebrities and musicians have a global reach, portraying a consistent image across the globe – a case in point being the omnipresent Kim Kardashian and the singer Taylor Swift.
Could brands be facing a similar future?
The recent and swift exit of Target stores from Canada is a prime example that this is not the case and simply implanting a brand into a different country without truly understanding the local market place, can have huge financial consequence, as well as potentially a longer term impact on the brand itself.
However, the increasing pressure on marketing budgets, the rise of online shopping and social media has meant that some companies are underplaying or simply ignoring the important role that ‘on the ground’ research can play in highlighting the needs and habits of local consumers, which ultimately drives the success or failure of a brand. (more…)