Hi6006 Competitive strategy Group assignment sample

Cross cultural differences CSU Assignment
January 1, 2018
HI6008 Business research Assignment 2
HC2022 Marketing research sample
January 2, 2018

Hi6006 Competitive strategy Group assignment sample

HI6006 Competitive Strategy

HI6006 Competitive Strategy Group Assignment Sample 

COMPETITIVE STRATEGY OF GLOBALIZING THE VALUE PROPOSITION AND GLOBAL BRANDING

Executive summary

In this report the globalizing the value proposition of Australian ICT sector has been discussed with reference to eServeglobal and infomedia. Different strategies related to value proposition of the companies have been discussed in a detailed manner. Global branding strategies of the car industry have also been discussed in the second segment of the report. Two major automobile manufacturers of Australia FPA Australia and Holden are taken under consideration for the discussion of global branding. Several aspects of global branding have been discussed with reference to these two companies.

Table of Contents

  1. Introduction. 4

2.1. Globalizing the value proposition. 4

2.1.1. ICT industry. 5

2.2. Global branding. 7

2.2.1. Car industry. 8

  1. Conclusion. 10

References. 12

Bibliography. 14

 

1. Introduction

Globalizing the value proposition and global branding are the two major marketing strategies which pave the path for globalization of any Business organization. In this report globalizing the value proposition and global branding have been focused with respect to two different Industries of Australia. The first section of the report presents the globalization of value proposition of the ICT (Information and Communication Technology) industry with reference to two major ICT companies namely eServGlobal and Infomedia. The second section of the reports focuses on the global branding of the Australian Car industry with reference to two major Automobile manufactures of Australia, FPA Australia and Holden.

 

2.1. Globalizing the value proposition

Value proposition is one of the focal elements of overall marketing messaging of any business organization. A value proposition indicates the innovativeness of a particular product or brand which differentiates the company from its competitors. It also sets a trademark for the products or services of an organization and the benefits acquired from those organizations clear from the outset (Brondoni, 2014).

ICT industry is one of the key contributors to the service industry of Australia. Both eServGlobal and Infomedia provide highly diversified services in a global platform. The value proposition requires globalizing market strategies in order to maintain their high quality service and to survive as successful organizations in ICT sector because of the worldwide high competition level in the ICT sector.

The marketing strategies and procedures which work in a particular country sometimes fails to work on other countries of the world (Winder & Le Heron, 2017). The same product, advertising campaign and the packaging work differently in different countries. As one approach fails to work everywhere the companies need to consider the complex mosaic of several cultures and differences throughout the world. The value proposition of any product or service needs a global approach in order to maintain the success of the organization.

2.1.1. ICT industry

ICT industry demands a globalization of their value proposition as it is one of the leading service providing industries of Australia. eServGlobal provides quality innovative solutions for the mobile service providers. This is one of the largest ICT companies of the country. In order to acquire a global market this organization needs to focus on improving the global marketing policies which already exist (Turner et al. 2014).

Another major global provider of information based solutions is Infomedia which is basically a Sydney based ICT company. This company is one of the major suppliers of advanced menu pricing system, information research and data analysis for automobile manufacturers (Holm & Østergaard, 2015). It is a global firm in true sense of the term. Few primary aspects of globalizing of the value proposition of these companies need revision of their marketing strategy. Their worldwide marketing strategy requires a global overview of the products and services. The agenda of globalizing the value proposition of the companies needs detailed study of few factors associated with Value Proposition.

  1. Aggregation

            Aggregation simply suggests that the marketing strategies which work in the home country might not work as well in another part of the world. The need to adapt any specific offer and message require detailed analysis of the existing construct of the culture or of the country. Any product or service requires global message, global message and global change of the service or the product.

Global marketing mix strategy which is also considered to be pure aggregation strategy is a relatively rare strategy that can be adapted by ICT industry. Basic electronic components or certain commodity markets focuses on few factors in order to compete in Global market (Zhang & Liu, 2015).

  • Product’s usage pattern and potential of the brands need to be homogenous. The homogeneity indicates the ability to grasp a larger market.
  • Partial or full adaptation of different marketing policies for different countries can proved to be beneficial and also widen the scopes and scales of advantages for the company.
  • Creating competitive circumstances for other ICT companies is important for a long term and sustainable advantage. This can be secured with the use of a standardized approach.
  1. Globalization Matrix

            Globalization matrix is a useful way to analyse the need to adapt the message and offer of different dimensions.

  1. Global product platform

            A global platform requires a trade-off of two things. It is important to keep in mind the global efficiencies of any particular product or service along with adaptation o0f local requirements and preferences. It is mandatory to design a global product or platform for communication which can be adapted successfully to different markets worldwide. It is challenging to plan a single platform that can accommodate different customers (Simpson et al. 2014).

  1. Global product development

            The practice of product development has changed for ICT industry to maintain the success of the organization in the gradual pressure of Globalization. Change and innovation are required for the revision of the existing practice. Better product designs, lowering the production cost and faster marketing policies are some of the aspects which can be helpful for global product development (Roy et al. 2014).

A new developed model emphasizes on the development process that is supported by digitalized, well networked and highly distributed product model or service. It also includes centralized functions and regional distribution of development functions also known as outsourcing.

It benefits the company with greater engineering efficiency and access to international technical expertise for more product input and flexibility of marketing strategies.

  1. Global innovation

            Global innovation requires many global supply chains and product development processes. The two firms which are taken under consideration have developed effective innovative capabilities. Access to modern technology and innovation has become key strategic drivers for global marketing. It is important to have an ability to originate new ideas that can be accepted all around the world (Patel & Saxena, 2014).

Relationship between geography and knowledge of diversity function as a prompt for these companies to globalize their perspectives on the process of innovation. The benefits of global innovation condition the prospect of seeking relevant knowledge sources around the world. It is decided on the optimal origin for a particular innovation and mobilizes the use of cost effective mechanisms in order to move distant knowledge without its degradation (Talib, 2016).

The innovative services that eServGlobal offers includes the mobile money solutions is a mobile financial service which is rich on features to its worldwide users. This solution also has services like mobile commerce, mobile wallet, agent management and recharge option. This company is a joint venture partner of the global payment hub called HomeSend.

Infomedia produces data products pertaining to both electronic parts and service for major automobile companies worldwide. Their innovative marketing and designing have influenced their globalization of value proposition.

Holmes Assignment Help

2.2. Global branding

The brands within the automobile industry often deliver similar messages by using similar imagery and tone. Lack of brand loyalty is the major issue with which the car industry of Australia is struggling for several years. The brands and models prove to be the same thing once they are categorized. The advertising often becomes identical. Global branding is an important factor which affects the car industry. Global branding fails when it comes to signify something different in every market. Premium pricing does not get sacrificed for the well known brand name. Multinational companies operate with three different brand structures which are product dominant, corporate dominant and a hybrid structure. Hybrid structure is the most commonly used structure for the car industry.

Global branding in many companies evolves with the company entering new countries or when they expand the product offerings within the local market. Expansion decisions are made incrementally. Product division and product line basis varies from country to country. The companies need to pay closer attention to more coherent global brand portfolio and branding decisions as their global market presence becomes closely interlinked. For the branding across the national market effective global brand strategy needs to be formulated this can transcend the national boundary.

2.2.1. Car industry

Branding in car industry means a coherence of product and its distinctive features which includes experience, self-expression and reputation. A particular brand is important for any car manufacturer because it is considered to be a valuable asset of that particular company. The consumers identify the company by the product. It reduces the risk associated with the profit margin of that company and functions as the symbol of quality. For manufacturers it ensures customer satisfaction and quality level which establish sustainable sales and profit for the company. It also helps in building a competitive market strategy of the company. Many popular companies have derived much of their sales and profits from the international markets through the years and FPA Australia and Holden are such names.

FPA and Holden became global led by few forces (Chabowski et al. 2013). Several forces which worked as key of global marketing are

  • Slow growth and increased competition in the local market.
  • Building a global market as the platform to success.
  • In order to reduce cost from economic scale.
  • In order to diversify the profit related risk
  • For enhanced international growth and overseas profit opportunities.
  1. Competition strategies of Global brands

            Important competitive strategies which global brands like FPA and Holden have obtained are standardization and adaptation. These companies prefer to make its marketing program elements uniform with similar products. These strategies seek to benefit with minimized variations in the mixed marketing strategies between countries. This is an appropriate strategy for the companies as similar market segments for the cars exist across countries and customers of different countries seek similar features. The cars produced by these car manufactures have universal specifications.

International marketing program also represents local responsiveness in terms of brand name and positioning. Adaptation strategies let companies to need the meet of the customers on technical standards.

  1. Global brand building

            Global brand building requires global motivation for buying those brands. There are different motivations for people but it cannot be considered to be a drawback to use same global products. Sometimes people go for the same brand with different viewpoints. Holden and FPA produce global products which are developed for global consumers with global needs. The products have distinctly different motives for the users to use the products. According to Keller the “ten commandments of Global Branding” are

  • Understanding the similarities and differences of global marketing.
  • Brand building needs to be free from short cuts.
  • The companies need to embrace the integrated marketing communications.
  • Cultivation of brand partnerships.
  • Maintaining the equilibrium of standardization and adaptation.
  • Balancing the global and local control.
  • Operable guidelines need to be established.
  • Implementing a global brand equity measurement system.
  • Leveraging the brand elements.

Global branding includes global positioning which indicates positioning the brand clearly in target consumer’s minds. The company needs to reposition its brands for changing customer demand conditions.

  1. Name selection and brand name strategies

Global brand name selection is considered to be an important factor in the marketing of the brand. FPA and Holden both the names are easy to pronounce and easy to remember in foreign languages. The brand name should suggest product’s benefits and qualities. Both of the names are distinctive and they are capable of registration. Under a same brand name different products are manufactured. Both of the companies manufactures produce different models under a same brand name. One of the major aspects of these two companies are they have different brand names for different markets. They also modify the brand names for each market.

  1. Brand development strategies

Additional products are produced under a same product category. This strategy helps in marketing of the new products under an already successful brand name. This is a major tool of the companies to deliver new products with low cost to meet customer desire of variety. Though over extension might lead to the lose brand’s specific meaning and heavily extended brands also causes confusion among the consumers.

  1. Brand management

Brands need to be managed with expertise because brand names should not only mean logos, names or symbols. The consumers need to associate the value of the product with the brand. These are used as externals cues of quality prestige, performance and design. The brand conveys either a positive or a negative message. It is necessary to convey a positive message for the brand to the consumers. Consumers are always affected by the advertisement, promotion and evaluation of the product and the reputation of the brand. Global brand management strategies include product communication Extension or dual extension, communication adaptation, product adaptation of communication extension and product-communication adaptation.

FPA Australia and Holden both use these branding strategies for the global branding of the cars. The cars which are manufactured by the companies are accepted globally because of their global marketing strategies.

3. Conclusion

Powerful brands with help of high level of investment, technology, innovation and mixed marketing elements achieve the global status. These marketing strategies help the companies to last for a long period of time in the Global market by generating valuable financial asset and by stimulating brand loyalty and brand equity. A strong global brand symbolizes brand value, quality and prestige. It also builds a company’s ability to charge premium price for their products. Globalizing the value proposition is necessary for ICT sector because it requires new innovative marketing ideas for global marketing. In a similar manner global branding for car industry ensures a global platform for the companies.

References

Brondoni, S. M. (2014). Global Capitalism and Sustainable Growth. From Global Products to Network Globalisation. Symphonya. Emerging Issues in Management, (1), 10-31.

Chabowski, B. R., Samiee, S., & Hult, G. T. M. (2013). A bibliometric analysis of the global branding literature and a research agenda. Journal of International Business Studies44(6), 622-634.

Holm, J. R., & Østergaard, C. R. (2015). Regional employment growth, shocks and regional industrial resilience: a quantitative analysis of the Danish ICT sector. Regional Studies49(1), 95-112.

Patel, V., & Saxena, S. (2014). Transforming lives, enhancing communities—innovations in global mental health. New England Journal of Medicine370(6), 498-501.

Roy, D. P., Wulder, M. A., Loveland, T. R., Woodcock, C. E., Allen, R. G., Anderson, M. C., … & Scambos, T. A. (2014). Landsat-8: Science and product vision for terrestrial global change research. Remote sensing of Environment145, 154-172.

Simpson, T. W., Jiao, R. J., Siddique, Z., & Hölttä-Otto, K. (2014). Product family and product platform design: looking forward. Advances in Product Family and Product Platform Design, 777-787.

Talib, Z. (2016). Strengthening the Health Workforce in LMICs: Global Innovations Driving Quality Improvement.

Turner, V., Gantz, J. F., Reinsel, D., & Minton, S. (2014). The digital universe of opportunities: Rich data and the increasing value of the internet of things. IDC Analyze the Future.

Winder, G. M., & Le Heron, R. (2017). Assembling a Blue Economy moment? Geographic engagement with globalizing biological-economic relations in multi-use marine environments. Dialogues in Human Geography7(1), 3-26.

Zhang, C., & Liu, C. (2015). The impact of ICT industry on CO 2 emissions: a regional analysis in China. Renewable and Sustainable Energy Reviews44, 12-19.

Bibliography

Brondoni, S. M. (2014). Global Capitalism and Sustainable Growth. From Global Products to Network Globalisation. Symphonya. Emerging Issues in Management, (1), 10-31.

Broy, M., Kirstan, S., Krcmar, H., Schätz, B., & Zimmermann, J. (2013). What is the benefit of a model-based design of embedded software systems in the car industry?. Software Design and Development: Concepts, Methodologies, Tools, and Applications: Concepts, Methodologies, Tools, and Applications, 310.

Chabowski, B. R., Samiee, S., & Hult, G. T. M. (2013). A bibliometric analysis of the global branding literature and a research agenda. Journal of International Business Studies44(6), 622-634.

Head, K., & Mayer, T. (2017). From Torino to Tychy: The limits of offshoring in the car industry

Holm, J. R., & Østergaard, C. R. (2015). Regional employment growth, shocks and regional industrial resilience: a quantitative analysis of the Danish ICT sector. Regional Studies49(1), 95-112.

Patel, V., & Saxena, S. (2014). Transforming lives, enhancing communities—innovations in global mental health. New England Journal of Medicine370(6), 498-501.

Roy, D. P., Wulder, M. A., Loveland, T. R., Woodcock, C. E., Allen, R. G., Anderson, M. C., … & Scambos, T. A. (2014). Landsat-8: Science and product vision for terrestrial global change research. Remote sensing of Environment145, 154-172.

Simpson, T. W., Jiao, R. J., Siddique, Z., & Hölttä-Otto, K. (2014). Product family and product platform design: looking forward. Advances in Product Family and Product Platform Design, 777-787.

Talib, Z. (2016). Strengthening the Health Workforce in LMICs: Global Innovations Driving Quality Improvement.

Turner, V., Gantz, J. F., Reinsel, D., & Minton, S. (2014). The digital universe of opportunities: Rich data and the increasing value of the internet of things. IDC Analyze the Future.

Winder, G. M., & Le Heron, R. (2017). Assembling a Blue Economy moment? Geographic engagement with globalizing biological-economic relations in multi-use marine environments. Dialogues in Human Geography7(1), 3-26.

Zhang, C., & Liu, C. (2015). The impact of ICT industry on CO 2 emissions: a regional analysis in China. Renewable and Sustainable Energy Reviews44, 12-19.

Punjab Assignment help
Punjab Assignment help
Punjab assignment help is Australia's leading assignment help company with the widest range of assignment help services with subject range from Accounting, finance, economics, statistics, human resource, marketing, Programming, Java, IT, database and many more. Connect with us at punjabassignmenthelp@gmail.com