Go Back   ManagementParadise.com | Management & Business Education Learning Platform Management Students Voices ( MBA,BMS,MMS,BMM,BBA) > International MBA

Asia Brand: Five Questions for SCHMITT

Discuss Asia Brand: Five Questions for SCHMITT within the International MBA forums, part of the Management Students Voices ( MBA,BMS,MMS,BMM,BBA) category; Prof. Bernd Schmitt moderated the panel “How to Build an Asian Brand into a Global Brand” at the Pan-Asian Reunion ...

Reply

 

Thread Tools Display Modes
Asia Brand: Five Questions for SCHMITT
Old
 (1 (permalink))
Maya Raichura
MayaRai has a spectacular aura aboutMayaRai has a spectacular aura about
 
MP_ROBOT
Management Paradise Guru
Status: Offline
Posts: 42,785
Join Date: Nov 2004
Age: 56
Asia Brand: Five Questions for SCHMITT - July 20th, 2012


Prof. Bernd Schmitt moderated the panel “How to Build an Asian Brand into a Global Brand” at the Pan-Asian Reunion in Hong Kong on Oct. 24. The panel included Yuzaburo Mogi ’61, Chairman and CEO, Kikkoman Corporation; Dong Bin Shin ’81, Executive Vice Chairman, Lotte Group; and Daniel Mingdong Wu ’96, CFO, Focus Media.

Public Offering: What differentiates a global brand from a local one?

SCHMITT: A global brand is planned and marketed on a global scale. A global brand is also available in all key markets around the world. Moreover, there is a high level of consistency to a global brand. The product will be largely the same (except for minor local variations), the visual identity (logo, signage and name) will be identical and communications will be designed for a global market. The classic global brands — which mostly come from the U.S., like Coca Cola, McDonald’s or Starbucks — exemplify such global branding. Local brands, in contrast, are only known in certain markets. They may have close connections to consumers in those markets but frequently they are seen as being of lower quality and not as contemporary as global brands.

PO: What is the best way a brand can build from local to global?

S: Professional management and a clear vision are needed. Brand builders must have a global vision and global aspirations for the brand and then set up the right organizational structures for managing a global brand. In addition, the company must understand consumer preferences. People in different markets differ in values, attitudes and behaviors. For understanding consumers in different markets, consumer research is key. Commissioning a global segmentation study is a good starting point.

PO: What is an example of an Asian brand that has transformed successfully into a global one?

S: One of the participants in my panel at Columbia Business School’s Pan-Asian Reunion in Hong Kong, Mr. Mogi, has such a brand: Kikkoman. Originally, Kikkoman was a local Japanese brand. Now, the brand stands for soy sauce worldwide. When you produce a soy sauce, it helps, of course, to be from Asia. A Western soy sauce brand would not have the same credibility.

PO: What are some other successful Asian brands?

S: There are numerous other Japanese brands in consumer electronics and in the car business, for example, and other businesses. In cosmetics, beauty and fashion, the global consumer knows Shiseido, or Issey Miyake and Yohji Yamamoto. In Korea, there is Samsung, which, by the way, has outperformed Sony in brand value according to the latest brand valuation studies. Then, there is Singapore Airlines, one of the greatest airlines in the world. So, by now, there is no shortage of Asian brands that are known globally — and more will be coming soon.

PO: Which brands should we look out for in the future?

S: Mr. Shin, the executive vice chairman of Lotte, another executive on my panel in Hong Kong, is currently building Lotte, which recently entered China and Russia, into a global brand. I also expect more global brands coming out of China soon, and not just brands like Lenovo that that were bought but brands that were home-grown, so to speak. In China, executives from established companies, entrepreneurs and the government are all strongly focused on building global brands.

Photo credit: Peyri Leigh



More...
Advertisements

Friends: (0)
Reply With Quote
Reply

Bookmarks
Related to Asia Brand: Five Questions for SCHMITT
 

Similar Threads

Thread Thread Starter Forum Replies Last Post
MBA INTERVIEW QUESTIONS N ANSWERS Prashant Ravindran Personal Interviews ( PI ) 35 May 18th, 2015 06:16 PM
CAT 2000 , Paper pattern, an analysis Kartik Raichura Preparation Resources/ General CAT queries and info !! 3 July 14th, 2007 07:59 PM
CAT 2002 : Paper pattern , an analysis Kartik Raichura Preparation Resources/ General CAT queries and info !! 1 May 31st, 2006 11:47 PM
How to Analyse MOCKCATS paperwala Preparation Resources/ General CAT queries and info !! 0 May 6th, 2006 02:38 PM
CAT 2001 : Paper pattern , an analysis Kartik Raichura Preparation Resources/ General CAT queries and info !! 0 January 6th, 2005 12:05 AM
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off


ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.



Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.