While many companies outside of China contemplate the riches to be made, they must be aware of the increasing competition originating from that country into global markets.
This is the caption phrase of a recently released Interbrand white paper on The Strategy for Chinese Brands.
This paper, the first in a series of two, examines this “Chinese Brand Strategy,” current perception issues, lessons from the best global brands, and the impact of leading Chinese brands. A second paper will examine Chinese what brands must do to be globally successful and how entrenched players must respond to the increasing competition.
Many Chinese brands, says the study, are quickly embracing practices common for the best global brands:
Well-performing brands enjoy strong awareness among consumers and opinion leaders. These brands lead their industry or industries. This type of recognition represents the nexus of perception and reality, enabling brands to rapidly establish credibility in new markets.
These brands achieve a high degree of consistency in visual, verbal, sonic and tactile identity across geographies. They deliver a consistent customer experience worldwide, often supported by an integrated global marketing effort.
A brand is not a brand unless it competes along emotional dimensions. It must symbolize a promis that people believe can be delivered and one they desire to be part of. Through emotion, brands can achieve the loyalty of consumers by tapping into human values and aspirations that cut across cultural differences.
Great brands represent great ideas. These brands express a unique position to all internal and external audiences. They effectively use all elements in the communications mix to position within and across international markets.
Global brands must respect local needs, wants and tastes. These brands adapt to the local marketplace while fulfilling a global mission.
The organization’s senior leadership must champion the brand, ideally with the CEO leading the initiative. A leader’s continual articulation of the brand philosophy and the brand’s view of the world is meant to give the business strategy a recognizable face. The commitment is crucial, allowing for a unique positioning that transcends local idiosyncrasies and appeals to a universal aspect of human nature and experience.
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