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Abstract:
The purpose of this paper is to outline and analyze the ingredients of a successful global brand which has and can continue to sustain its global marketing goals. The brand analyzed in this paper is Nike, one of the top sporting goods manufacturers in the world. As part of the analysis of Nike's global brand, a proposed brand strategy and supporting marketing program will be recommended using the components of Interbrand's rating and ranking evaluation. The analysis will use components of Interbrand's approach as the basis of understanding Nike's current strategy and standing and be used as input into the recommended brand and marketing strategy.
Keywords: Interbrand, brand market strategy, global marketing, brand association, global brand management
Introduction - Global Brand Management and Nike
Hollis (2008) outlined that few people understand what a brand is. Hollis explained branding beginning with what it is not. A brand is not a business, trademark, corporate identity or a veneer to be supplied to or ignored by the business. A definition supplied by Feldwick (2002) defines a brand as a collection of perceptions in the mind of a consumer. If a brand is a collection of perceptions, then one could logically say that brand management is perception management. Managing perception is not considered an easy task, thus brand management can be considered a challenging aspect of growing and maintaining a business.
To further understand brand management, eight associations are analyzed (Hollis, 2008). Product characteristics, places and events where the product was used, product price, product characteristics, the type of people who use it, and a product's perceived value all contribute to defining a brand. Brand association tends to be related to the rational and emotional benefits consumers have; positive associations with brands influence consumers to buy and become loyal consumers. Positive associations come from creative and ingenious marketing, which strengthens the brand and reinforces positive associations.
Hollis (2008) extends Feldwick's (2002) definition of brand by adding that a brand is not just a collection of perceptions, but a set of perceptions that are shared and enduring in the minds of customers. In order to build and maintain a strong brand, organizations must invest in marketing that creates a unifying theme, creates and repeats positive associations, and...