Fluent Essays

Product Branding [WLO: 1] [CLOs: 1, 2, 3] Twitter USE APA format throughout assignment.       Prior to beginning work on this discussion, review Chapter 10: Brand and Product Decisions in Global Marketing, the article Disneyland Paris: A Case Analysis Demonstrating How Glocalization Works, look through Forbes’ list of The World’s Most Valuable Brands (Links to an external site.)https://www.forbes.com/the-worlds-most-valuable-brands/#7e1b831e119c , and watch The Billionaire Behind the Space Jump (Links to an external site.) video. https://www.youtube.com/watch?v=iMYF4CIZcKcThere are a number of factors that can help a company build its  product brand. Considerations in building a brand will require an  understanding of both product concepts and branding concepts. Both Red  Bull and Disney are among the many listed brands you will find in The World’s Most Valuable Brands (Links to an external site.) list.Part 1: Explain the concept of brand image and brand equity for Red Bull. Explain why Red Bull’s global marketing activities are so heavily  invested around extreme sports and events that are associated with  excitement and movement. Identify at least five examples of brand extensions and co-brandings  that Disney has implemented besides Disney Parks. Briefly explains each  example. Part 2: Choose a country in Asia (e.g., Japan) and a country in South  America (e.g., Brazil) where the mentor company you identified in your Week 2 - Global Marketing Plan Part 1 assignment currently has a presence. Explain what similarities and differences you see in the product  and/or brand between the two countries using Maslow’s hierarchy of  needs, cultural perceptions, and strategic alternatives in global  marketing.Not all of the companies have a branch in those regions. In  that case, discuss the implications of moving to an Asian county and/or a  South American country should your mentor marketer decides to expand  there using Maslow’s hierarchy of needs, cultural perceptions, and  strategic alternatives in global marketing. Your initial discussion post should be 275 words. Cite your textbook  and any other sources used to support your ideas.  Below, I have attached the Disneyland Paris article. I have also attached my Global Market Proposal letting you see what country I am using and the company I am using, Samsung.The course TEXTBOOK Textbook Cited: Keegan, W. J., & Green, M. C. (2020). Global marketing (10th ed.). Retrieved from https://www.vitalsource.com 10-1 Basic Product Concepts 10-1 Review the basic product concepts that underlie a successful global marketing product strategy. The product P of the marketing mix is at the heart of the challenges and opportunities facing global companies today: Management must develop product and brand policies and strategies that are sensitive to market needs, competition, and the company’s ambitions and resources on a global scale. Effective global marketing often entails finding a balance between the payoff from extensively adapting products and brands to local market preferences and the benefits that come from concentrating company resources on relatively standardized global products and brands. A product is a good, service, or idea with both tangible and intangible attributes that collectively create value for a buyer or user. A product’s tangible attributes can be assessed in physical terms, such as weight, dimensions, or materials used. Consider, for example, a flat-panel TV with an OLED screen that measures 42 inches across. The unit weighs 20 pounds, is 2.2 inches deep, features four high-definition media interface (HDMI) connections, has a built-in tuner capable of receiving high-definition TV signals over the air, and delivers a 4K screen resolution. These tangible, physical features and attributes translate into benefits that enhance the enjoyment of watching HDTV broadcasts and Blu-ray movies. Accessories such as wall mounts and floor stands enhance the value offering by enabling great flexibility in placing the set in a living room or home theater. Intangible product attributes, including the status associated with product ownership, a manufacturer’s service commitment, and a brand’s overall reputation or mystique, are also important. When shopping for a new TV, many people want “the best”: They want a TV loaded with features (tangible product elements), as well as one that is “cool” and makes a status statement (intangible product element). Product Types A frequently used framework for classifying products distinguishes between consumer and industrial goods. For example, Samsung offers products and services to both consumers and businesses worldwide. Consumer and industrial goods, in turn, can be further classified on the basis of criteria such as buyer orientation. Buyer orientation is a composite measure of the amount of effort a customer expends, the level of risk associated with a purchase, and buyer involvement in the purchase. The buyer orientation framework includes such categories as convenience, preference, shopping, and specialty goods. Electronics products are often high-involvement purchases, and many shoppers will compare several brands before making a decision. Products can also be categorized in terms of their life span (durable, nondurable, and disposable). Samsung and other Edwards 1 Samsung: Global Marketing Plan Part 1 Markis Edwards BUS 622 Dr.  Lorraine Cigainero March 15, 2021 Abstract Corporate organization adapt to remain competitive within the market, the advancement in technology, effects of globalization, and population have made several companies expand their operations to mature marketplaces while other have chosen to do so with internal markets. This document reviews Samsungs internal environment and identifies a country where it can expand its operations based on the identified factors. Executive Summary  There are various strategies that corporate organizations adapt to remain competitive and to thrive in the market. The advancement in technology, effects of globalization, and population have forced many companies to expand their operations to mature marketplaces while others have expanded their operations to international markets. According to the last Forbes news, companies that open their needs where their opponents have not opened have more significant power. Through global expansion, a company can make its brand awareness durable before its competitors do. The global expansion also creates the firms image and builds an excellent reputation for future operations worldwide (Anwar, 2017). Samsung: Global Marketing Plan There are reports that companies with more global outlets control a large customer base and are also well established in the market. In the United States, top companies with robust brand loyalty and enormous profit, such as Apple, Samsung, Netflix, PayPal, etc., are globally known for their vigorous branches. The process of global expansion also involves analyzing environmental factors such as political, economic, social, technological, and legislative factors of a company (Keegan & Green, 2020). This paper will analyze Samsungs internal environment and identify a country where it can expand its operations based on the identified factors. Background information about Samsung Samsung is one of the leading electronic companies globally. It is located in South Korea. Samsung products include memory chips, digital media devices, appliances, semiconductors, and integrated systems. Samsung has been in existence for over 80 years, and currently, it controls over $4 billion net worth with over 2000 display centers in over 400 countries. According to the companys previous report, over 80 of its profit is obtained from overseas countries, with the U.S., Russia, U.K., China, Germany, and France being its primary target market (Gumparthi & Deb, 2019). However, the company has also expanded in Africa, and Australia and today, the companys brand is prevalent in all continents. Samsung contributes to over 50\% of South Korean export. Besides, Samsung contributes to over 20\% of South Korea GDP. Samsung currently has more than 5000 workers; Samsung has received several international awards, including the best company in empowering employeesDisneyland Paris: a case analysis demonstrating how glocalization works Jonathan Matusitz* Nicholson School of Communication, University of Central Florida at Seminole State College, Partnership Center, 100 Weldon Blvd, Sanford, FL 32773, USA (Received 18 July 2009; final version received 28 September 2009) This paper analyzes Disneyland Paris and how glocalization theory has been successfully applied to it. Glocalization means interaction of the global and the local. When the park was first opened, it was such a financial debacle that it has become the typical case study on how not to open a theme park. The mistake that Disney made was to use its traditional method to force-feed its US products to local cultures. The main premise of this paper is that even a giant like Disney has to show adaptation to local preferences in order to generate maximal profits and remain competitive. Keywords: adaptation; culture; Disney; globalization; glocalization; marketing Introduction This paper analyzes the theoretical concept of glocalization and how it has successfully been applied to Disneyland Paris. Glocalization refers to the interaction of the global and the local, a cooptation of the global and the local, and the conflation of both universalizing and particularizing tendencies. Disneyland Paris used to be called Euro Disney. When Euro Disney was opened, it was such a financial disaster that it has become the typical case study on how not to open a theme park. The mistake that Disney made was to use its traditional method to force-feed its US products from its Burbank, CA headquarters to local cultures (Marr & Fowler, 2007). Yet, it did not work in France. The main premise of this paper is that even a transnational firm and a global behemoth like the Walt Disney Company has to show understanding and adaptation to local preferences in order to generate maximal profits and remain competitive in the global arena. This paper begins with a detailed description of glocalization theory and how the concept exemplifies today’s internationalization trends. The paper then proceeds to describe the evolution of the park from Euro Disney, when the European Disney theme park first opened in April 1992, to Disneyland Paris, when glocalization and management changes were brought in. What follows is the heart of this analysis: the glocalization of Disneyland Paris. This section explains, in detail, the four major glocalizing changes that have made Disneyland Paris more successful: (1) cutting the price; (2) turning shows and settings into French style; (3) change of food menus and eating habits; and (4) change of employee customs and labor policies. The paper ends with a discussion that also includes suggestions for future research. ISSN 0965-254X print/ISSN 1466-4488 online q 2010 Taylor & Francis DOI: 10.1080/09652540903537014 http://www.informaworld.com *Email: [email protected] Journal of Strategic Marketing Vol. 18, No. 3, June 2010