Different brand strategies that a company can pursue

Companies carry out advertising activities with the aim of persuading, convincing and luring the target people in order to buy their products. The advertisements are normally directed to a specific target. Companies develop and design these adverts and promotional activities according to the needs of the customers. In order for the company to achieve the main objective of attracting a wide market in local and emerging markets, the advert and promotional activities should be carried out in the locals native language. They need to determine the pulse of the target customers and play on it to favor the companys product.
Global companies specifically carry out localized promotional and advertising campaigns because of the following reasons. These kinds of advertisements increase the sales of the companys product being advertised. The advert attracts more consumers because of their appealing nature hence high sales volume which translates to high profits. Secondly, localized advertising boosts the brand awareness. The companys brand being promoted receives a global attention thereby giving it a global image. Once the brand is established, the product becomes accepted worldwide and every consumer is willing to identify with it. This increases the products demand and hence high profit levels.
Thirdly, localization of advertising deepens the connection between the brand and the buyers because consumers are more appealed to because the message is availed in the language that they understand. If the understanding is strong the consumers urge to buy the product would be strong thereby creating a niche for the product. Marketers also use this form of advertising to start positioning the company in the product brand in the market especially if it is new. This advert creates an impression and image of the product in the customers mind. To achieve good impression and image,the advert should be run in the most attractive way as much as possible. Finally localized advertising promises the target market a consistent delivery. It ensures that the product is supplied to the companys customers wherever they are and in a continuous manner without reduction in stock.
2. Variation of consumption of Scotch whisky from country to country
The consumption of Scotch whisky varies from country to country. In some countries it is consumed by youthful population that seeks new experience. In some countries its consumption is by the middle age and in others by status drives business people who have huge sums of money while in others the consumption lies with mostly women.
3. The following are factors which determine the nature of the market where products are to be located.
Needs
Different products serve different needs. For instance there are products that are developed to meet the global needs while others are produced to meet local needs.
Barriers to entry
Some firms are restricted locally by the trade barriers. These trade barriers can either be tariffs and non-tariff. Some companies remain in the local market in order to evade these barriers. Those companies with large finance base to meet these tariffs tend to go global.
Consistency
Companies that want to keep consistent image and position worldwide prefers to go global unlike those that changes the position and images constantly.
4. Different brand strategies that a company can pursue
Basically there are two brand strategies that can be adopted by the companies for instance, adaptation and extension. These are further subdivided into dual and product. Product extension, also known as communication extension appeals to different perceptions and needs of customers. It takes into account cultural diversities and endeavors to appeal to them separately. This type however is costly because of cultural indifferences. It is not easy to appeal to everybody. Dual adaptation advocates product modification and change in positioning. Here, companies change products to suit customers needs. Dual extension tries to appeal to a same group of people; therefore it is easy and potentially profitable. Product adaptation, also known as communication extension is a brand strategy that tries to modify the products slightly for the same positioning. The following are other types of branding strategies
Crowd sourcing branding
This type of brand is created by people on behalf of the business. These companies can invite people to take part in the branding process because this method reduces the risk of a brand failure because it incorporates those who may reject the product.
Private labels
This is where the companies use their own brands in competition with the strongest brand leaders. This helps companies to outshine those brands that are not strongly branded.
Iconic brands
These types of brands contribute to consumers personal identity and self-expression. The companies should come up with brands that value their customers.
Multi-brands
It is applied in a fragmented market with numerous brands to choose from in order to launch a new product to compete with its current strong brand in order to attract more customers who may seek minor brands.
Company name
Under this strategy, the company undertakes to promote the name of the company. This one of the best strategies especially for a company with a wide range or variety of products.