Introduction:
In today's fast-paced business landscape it is important for every organisation to expand their brand globally with consideration of adaptation, aggravation and arbitrage as well as effective strategies. The global brand is recognised throughout the world with its international reputation and high-quality product as well as service. This assignment would explore the strategies and opportunities used by Starbucks, the well known American coffee company.
Global branding strategies:
As stated by Chabowski, Samiee & Hult (2013) global branding is an important aspect in today's ever-changing market ground. In case of Starbucks, American coffee manufacturers face severe economic boom due to the globalisation of food and beverage industry. Therefore market expansion, as well as brand globalisation, is important for Starbucks to combat the threats in the international as well as domestic food and beverage industry. Global branding strategies that could be taken by marketers of Starbucks are as followed:
1. Understanding of customer demand:
In ever-changing market orientation, there are some universal buying preferences that pose huge effect of the sales of a company (De Mooij, 2013). In developing country such as China, India, a demand of baked good, tea and coffee has been increased with approx 12% from previous decades. However, it is highly important for Starbucks to understand the exact preferences of international buyers in an overseas market. For this reason, marketers of Starbucks can make thorough market research by appointment high business analyst. It can be seen through market research than, in Switzerland and Japan, a demand of green coffee has been increased by 23 % from 2013 which can be a great opportunity for Starbucks to capture this market (news.starbucks.com, 2017).
2. Good brand positioning:
As stated by Sevin (2014), global brands positioning is an important framework, through which company can identify its potential competitors and competitive advantage. In this context business analyst of Starbucks can focuses on the facts that, in developing countries such as India, China and developed countries such as Japan, Switzerland, from which locations and which stores consumers buy their most of the coffee and tea products. This would make Starbucks marketers to explore the exact strategy taken by marketers of these countries while swelling their products (news.starbucks.com, 2017).
3. Global branding and The Hofstede model:
As stated by De Mooij (2013), The Hofstede model focuses on the fact that, global branding can primarily possible by promoting strong marketing and promotion strategies such as advertising online posters and offline promotional events. In this context, marketers of Starbucks can use proper marketing tool to analyse the exact demand of international market which would make them able to make a proper promotional strategy to expand its business in overseas market. This mode of global branding through advertising and online posters can be effective for Starbucks marketers as the demand for tea and coffee in developing and developed countries is increased with years.
4. The capability of brand translation:
Brand translation is important in today's fast-paced as well as smart market outlook. In case of Starbucks, it can be complicated for new buyers in the new market to understand the language that is used to name any food in this company. If parameters of Starbucks can be able to translate the names of their products such as tea, coffee and other baked goods, it would be easy for buyers to identify them (news.starbucks.com, 2017),.
5. Good promotion:
As per the concept of The Hofstede model, it can be stated that global branding is one of the marketing aspects which is impossible to conduct without strong marketing as well as a promotion of product and service. In developing and developed countries such as India, China, Australia, Canada and Japan, demand for green tea and coffee increases with fast rate with a huge number of the manufacturer. Therefore it is important for Starbucks marketers to promote their product in a smart and attractive manner to catch the eye of overseas buyers. Attractive posters, online ads on famous blogs and websites and partnership with potential markets these countries, can be performed by marketers of Starbucks to expand their brand frame over the world.
Conclusion
From the above discussion, it can be concluded that Starbucks can expand their brand image over the world by taking effective promotional strategy. Current assignment concludes the fact that, for conduct proper global branding it is important to understand the exact demand of customer in the overseas market. Here the assignment also concluded that brand translation capability is also needed to represent reliable and easy market to overseas buyers. Finally, good promotional events are also needed to enhance the international reputation of a business.
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