SHRI VAISHNAV INSTITUTE OF TECHNOLOGY AND SCIENCE
SCHOOL OF BUSINESS MANAGEMENT
A SYNOPSIS ON
A STUDY ON HOW LOCAL BRAND BECOMES A Global BRAND
For the partial fulfillment of award of the degree
MASTER OF BUSINESS ADMINISTRATION 2012
DEVI AHILYA UNIVERSITY, INDORE
DR.SAURABHI CHATURVEDI VIVEK SOLANKI
Student: MBA 3rd sem
I am VIVEK SOLANKI student of Shri Vaishnav School of Business Management, Shri VaishnavSM Institute of Technology & Science (SVITS), Indore (M.P.). I have prepared synopsis for “Major Research Project” on the topic
“A STUDY ON HOW LOCAL BRAND BECOMES A GLOBAL BRAND”.
I hereby declare that the work is authentic and the data collected is genuine
MBA (Full Time) 3rd semester
This is certified that Mr. VIVEKSOLANKI is a student of MBA (Full Time) 3rd semester of Shri Vaishnav School of Business Management, Shri VaishnavSM Institute of Technology & Science (SVITS), Indore (M.P.). He has prepared his synopsis for Major Research Project on the topic
“A STUDY ON HOW LOCAL BRAND BECOMES A GLOBAL BRAND”..
The synopsis was prepared under my supervision for the partial fulfillment of award of post graduate degree of Master of Business Administration 2012.
Table Of Content
2. Literature review
3. Rationale of the study
Brands are at the heart of marketing and business strategy. Branding plays an important role in its marketing strategy. Many consumers use brands as clues to indicate product performances, instead of engaging themselves in search for information when deciding between competing brands. Consumers use brands as cues to make decisions to purchase or try products (Ger et al., 1993). During the recent years, there has been a great shift from local brands to global brands due to the display of similar needs and preferences by the consumers.
A brand that is sold and marketed (distributed and promoted) in a relatively small and restricted geographical area. A local brand is a brand that can be found in region. It may be called a regional brand if the area encompasses more than one metropolitan market. It may also be a brand that is developed for a specific national market, however an interesting thing about local brand is that the local branding is more often done by consumers than by the producers.
A national brand is a type of product brand that is nationally distributed and marketed. More often than not, national brands are owned and advertised by a manufacturer. National brand differ from a local or regional brand. As the world is shrinking in to a global marketplace, it is increasingly significant to understand the consumers’ perception of global brands to local brands. Studying consumer perceptions towards global vs. local brands have substantial implications in marketing and will also serve as a citation for future research. There would also be several reasons for consumers’ perceptions and attitudes towards the brand. Thus there is also a need to uncover the reasons for consumers’ preference for global brands over local brands.
A global brand is one which is perceived to reflect the same set of values around the world. Global brands transcend their origins and create strong enduring relationships with consumers across countries and cultures. They are brands sold in international markets. Examples of global brands...
References: Brands are used as a surrogate to inform the consumer about the product, including relative product quality since direct experience with a product is not available (Rao, 1972).
Local brands are defined by Wolfe (1991) as brands that exist in one country or in a limited geographical area.
It is also noted by Schuiling et al (2004) that local brands belong to a local, international, or global firm. Local brands provide a link between the national economy and individual well-being.
Levitt (1983) defines global brands as brands that use the same marketing strategy and mix in all target markets.
Johansson and Ronkainen (2004) assert that global brands benefit from the scale and scope of having presence in multiple markets.
Please join StudyMode to read the full document